I am 18 & have not had a credit card b4, I am looking 4 1 which i could use free (provided i payed the balance of monthly) & if possible 1 which gives cash back or points.
I have no credit record as I have never been in debt.
Thanks for any help.
2006-12-04 09:32:31 · 11 answers · asked by Anonymous in Business & Finance ➔ Credit
why is any company gonna give you credit for free? They are money making organisations and you are the customer.
What you can do is take the interest free promos that a lot of cards give for a few months and keep swapping cards after this period (you gotta keep on top of it though). Unfortunatly most companies are getting wise and now offer 6 months interest free credit but NOT free money transfer which means you are paying them to take on your existing credit.
It can be done if you keep an eye on it but if you are that bothered about paying interest, then start a savings account and "pay off" an item before you purchace it
2006-12-04 09:38:08 · answer #1 · answered by england til i die 3 · 0⤊ 0⤋
I would seriously recommend NOT getting a credit card, it's far too easy to fall into the trap and get in debt. I got my first credit card about five years back, after 4 years I was in £12000 debt with 4 different cards. I know I can mostly blame myself for this stupidity, but the banks made it all too easy to do it. Previous to the credit cards I also never had any debt or bad credit scoring, I was very sensible about money and always thought about purchases. Once I had those cards I started spending like it was going out of fashion. Now I'll be another or 5 years paying it off. And I've known a couple of people that have done the same thing, one friend has even had to declare themselves bankrupt. Use a debit card instead, that way you can't spend what you don't have.
2006-12-04 09:44:08 · answer #2 · answered by fr3aky_lb 3 · 1⤊ 0⤋
My HSBC Mastercard costs me nothing as long as I pay the balance off each month. I set it up to Direct Debit the full amount from my bank account automatically, means I never miss a payment. I don't get any cashback deals etc though.
Having a credit card, even if you don't use it, can help your credit record - because the bank's info will show that you've never missed a payment, and so are a responsible borrower. This is useful when you're looking for loans, mortgages etc.
It can take a lot of self control not to just think "ah, what the hell..." and start loading stuff on the card, though. Be honest with yourself about whether you can refrain from doing that.
2006-12-04 09:45:32 · answer #3 · answered by InitialDave 4 · 0⤊ 0⤋
You would be much better of with a bank account which offers interest free overdraft of £500 and upwards. Why pay up to 29% interest. Most shops accept debit cards and you can withdraw cash with the card for free. Credit cards charge you for this.
2006-12-05 05:27:09 · answer #4 · answered by naplusultra 4 · 0⤊ 0⤋
Just go to a local college and you'll see booths selling credit cards.
Review the following items:
1. Annual fee?
2. Points/rewards offered?
3. APR %?
Basically you want $0 annual fee, points and rewards if possible, and the lowest APR % possible.
Learn more about mortgage, credit, and personal finance:
http://www.thetruthaboutmortgage.com
2006-12-04 09:44:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
PLZ WHATEVER YOU DO PUT A PASSWORD ON YOUR SOCIAL SECURITY # VERY IMPORTANT THAT WAY YOU ARE THE ONLY PERSON WHO WILL BE ABLE TO ESTABLISH CREDIT I THOUHGT WHEN I HIT 18 I HAD GOOD CREDIT AND WAS READY TO ROLL BUT TO MY SURPRISE SOMEONE HAD ESTABLISH AND RUINED MY CREDIT AS EARLY ON WHEN I WAS 12 YRS OLD DONT ASK ME HOW BUT THE WORSE IS YET TO COME IM 34 NOW AND STILL TRYING TO GET ALOT OF SOMEONE ELSES BULL CRAP OFF MY CREDIT ITS NOT AN EASY PROCESS TO REMOVE THINGS OFF REGARDLESS OF HOW YOUNG YOU WERE WHEN SOMEONE ELSE ESTABLISHED IT ALL YOU NEED IS ONE VISA OR MASTERCARD DONT GET CAUGHT UP WITH 4-6 CREDIT CARDS GET 1 AND MAYBE A TARGET OR WALL MART ONE DEPARTMENT STORE AND BUILD YOUR CREDIT UP FROM THOSE TWO MAKE PAYMENTS ON TIME GL
2006-12-04 09:45:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Go to your bank and get a credit card from them, I do at US Bank and you earn a money back on your purchases and they put it in your checking account.
2006-12-04 09:46:40 · answer #7 · answered by Anonymous · 0⤊ 0⤋
my dear friend you dont need credit card that you will pay off, all the banks are ripping cunsumer off their money , the best thing is to get the dogy one and use , be a smart person OK.
2006-12-08 09:36:09 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Look into Capital One. They usually give very good rates.
2006-12-04 09:36:25 · answer #9 · answered by Tracy S 4 · 0⤊ 0⤋