Credit Card

[conaero]

Right after some advise. I havnt had a credit card before, but I have debit cards.

After speaking to Zep about the protection on part purchases like cars and the fact I book so many hotels for the Forum (Monaco or Bust saw £34k spent on hotels) it’s the protection side of things I am more interested in and not to borrow, finance or transfer debt.

I can just apply for one simply through my bank with one click but I thought I’d throw it out there to the group and see if I can get any cash back or the likes. I would expect about £50-60k go through it annually and paid off without interest.

Also, I would be placing orders with other people’s money so I don’t need this to be restricted or it to be deemed business as I don’t take any fees or profit for any of the events I book on behalf of members.

Ta

 

[allandwf]

I was in the same boat as you, found it hard as I didn't have credit so choices weren't great. If I fhad loads of loans debts etc I would have got one no bother. I have a citi card through work. I also have an American express that gives cash back but in reality I hardly ever use it. Sorry not much help I'm a bit anti credit :/

 

[azapa]

Credit cards are like any tool: well chosen and well kept are great, the opposite and they can be a huge and costly PITA. Look for no fees and no international charges, and also programme their complete payment each month from your current account. You may also find one that gives air miles or other perks too.

 

[daverichardson]

I know nothing about C Cards and have never had one, but here is a chap that does

https://www.moneysavingexpert.com/credit-cards/best-credit-card-rewards/

 

[Doohickey]

Bear in mind that not everywhere takes Amex. I used to have one as a business card but it was a right PITA.

 

[allandwf]

I should add, the only reason I have one of my own now is so I can get a decent hire car abroad, for that it is a must.

 

[redsonnylee]

I have an Asda purchase cashback card which means I pay off the balance in full via direct debit. At Xmas I print off the cashback voucher about £300 which goes towards shopping etc. I also have the same with Tesco for my wife and about the same cash back yearly.

Although we both have one of each card as a joint account I use the Tesco whilst my wife uses the asda. The reason for this is a while back whilst working in New York my card was cloned and had to be cancelled & my wife had to use her debit card until a new charge card arrived. We only use these cards for the cashback and interest free period.

I used to have an Amex platinum and Natwest Black but I hardly travel for work now & it was not worth paying the annual charges as I wasn’t using most of the benefits that they came with.

 

[Ebenezer]

I appear to have an entire deck of cards for any occasion

- Mixture of master card and visa as occasionally some places only accept one or the other
- Post office CC when travelling abroad as you don't pay FX fees on foreign transactions (This might be the best fit as most others charge fees for foreign currency purchaces)
- John Lewis - Vouchers cash back as we do most of our shopping at Waitrose/JL
- Several others that I should cancel as their USP is no longer available (usually cash back)

You might also look at a Revolut card for paying for stuff while abroad. Basically you put cash on it and use it like a debit card but the FX rate is much better than you'd get from your bank.

Never had Amex as you have to pay and it's only good if you want to travel as some of their air miles offers are very good apparently. Also they are not always accepted.

However they may limit your credit though if you have no history

Eb

 

[Corranga]

I think the first thing is to get one.
The Martin Lewis money saving expert site has an Experian credit check based tool,I think called the credit club or similar that takes your details and predicts your likelihood of getting different cards.

With your lack of history, chances are your limits might be low, not sure how it works as you're in a different income bracket to me.

If you're paying them off every month, I'm not sure I'd worry about interest rates much as it'll cost you nothing. Get the one with the best reward, cashback, voucher scheme or whatever and set the direct debit to pay the whole balance every month. Job done.
Start to build up a credit history and the limit will go up, or you'll be able to get a better card in future.

Use it for anything where there is a risk, online shopping for example.

As others have said, if you're spending a lot abroad, or in forgein currency, look at Revolut or similar, they are better than the fee free cards like the post office one as the charge no fee and the currency exchange base rate.
They do charge a monthly fee for using more that a small amount of money though so do some maths.

 

[2b1ask1]

I only have a Revolut card, it works all around the globe, it is a pre-paid credit card but works as a debit card effectively in any country in the local currency. Location based security is generally brilliant. You need to tell people to charge it in the local currency so you don't get transaction fees or their outrageously bad exchange rate they (the shop) feel like making up on the spot! You can draw local currency free from ATM's and use contactless, you can even create virtual cards which have a single use number so cannot be used for online fraud! It has seen me safe all around the globe in recent years. When in the UK I don't keep money on it more than the transaction I'm making again to prevent anyone dipping it! Top up by app on the fly is instant.

The only downsides I'm aware of are that there is no protection like you get on purchases with a credit card.

The location based security is brilliant in the UK (except when using it as an Oyster card) but sucks when you forget to turn it off before flying. I learnt this after landing in Marrakesh and it wouldn't let me draw money or pay for anything for about 4 hours!!! So before flight switch off location based security and only switch it back on if you are settled in a country where you have data on your phone you are willing to pay for (i.e. not £6/mb!!!!!)

I also cannot use it at petrol stations where there is no attendant/shop such as France/Spain/Italy for some reason I am unable to fathom except that the transaction is probably taking place thousands of miles from the pump!

 

[Navcorr]

I also cannot use it at petrol stations where there is no attendant/shop such as France/Spain/Italy for some reason I am unable to fathom except that the transaction is probably taking place thousands of miles from the pump!

Have been getting this quite a bit in France recently. With a Nationwide CC so doubt it's your card. Seems hit or miss between different companies, times of day, etc. Have decided the pump must be on strike or having another croissant break.

 

[CatmanV2]

I think the first thing is to get one.
The Martin Lewis money saving expert site has an Experian credit check based tool,I think called the credit club or similar that takes your details and predicts your likelihood of getting different cards.
.

Clearscore and Creditexpert. Both owned by Experian.....

C

 

[rockits]

I have quite a selection and use them for short term cashflow and also protection as you say. I have personal First Direct CC but mainly use a personal Baclaycard CC with cashback. I think it is 0.5% now as was 1% before. For business we have a Barclaycard Business and Captial One Business card as the main card. All the balances always get paid at the end of the month so no interest paid.

 

[hoyin]

I appear to have an entire deck of cards for any occasion

- Mixture of master card and visa as occasionally some places only accept one or the other
- Post office CC when travelling abroad as you don't pay FX fees on foreign transactions (This might be the best fit as most others charge fees for foreign currency purchaces)
- John Lewis - Vouchers cash back as we do most of our shopping at Waitrose/JL
- Several others that I should cancel as their USP is no longer available (usually cash back)

You might also look at a Revolut card for paying for stuff while abroad. Basically you put cash on it and use it like a debit card but the FX rate is much better than you'd get from your bank.

Never had Amex as you have to pay and it's only good if you want to travel as some of their air miles offers are very good apparently. Also they are not always accepted.

However they may limit your credit though if you have no history

Eb

Blimey. You sound just like me.

However I only use the Revolut card for cash withdraws abroad. For purchases I use a Halifax X card. Protection and the best rate and no charges.

John Lewis for purchases as like you I shop in Waitrose and the cash back is the best.

And I got a load of others that I use for stoozing.


Sent from my iPhone using Tapatalk

 

[Ebenezer]

stoozing?
Eb

 

[mjheathcote]

stoozing?
Eb

Borrowing at 0% and investing the money.

 

[Navcorr]

Did this with my student overdraft facility 25+ years ago. Don't think it had a silly name back then - just called it common sense. Plus a letter from the bank manager asking for, ney demanding, an explanation. A quick letter in reply, quoting their own T&Cs, and she soon shut up. That and a threat of closing my other accounts if she persisted in wasting my invaluable drinking (I mean study) time.

 

[TridentTested]

You might also look at a Revolut card for paying for stuff while abroad. Basically you put cash on it and use it like a debit card but the FX rate is much better than you'd get from your bank.

Some friends do this for their motorbike touring. It works a treat, deals with currency exchange, and you can sort out the shared costs on the fly. It means that anyone in the group can pick up any bill at any time, click who in the group it is to be shared with and the rest happens by magic.

None of those last night sessions with scraps of paper: I paid for the ferry, he paid for the first hotel, you paid for the meals, - which can turn into epics more complex than GATT negotiations.

 

[conaero]

Bear in mind that not everywhere takes Amex. I used to have one as a business card but it was a right PITA.

Yes, I was aware of this and thus will not be an option. I want to stick with Visa/Mastercard.

 

[conaero]

I think the first thing is to get one.
The Martin Lewis money saving expert site has an Experian credit check based tool,I think called the credit club or similar that takes your details and predicts your likelihood of getting different cards.

With your lack of history, chances are your limits might be low, not sure how it works as you're in a different income bracket to me.

If you're paying them off every month, I'm not sure I'd worry about interest rates much as it'll cost you nothing. Get the one with the best reward, cashback, voucher scheme or whatever and set the direct debit to pay the whole balance every month. Job done.
Start to build up a credit history and the limit will go up, or you'll be able to get a better card in future.

Use it for anything where there is a risk, online shopping for example.

As others have said, if you're spending a lot abroad, or in forgein currency, look at Revolut or similar, they are better than the fee free cards like the post office one as the charge no fee and the currency exchange base rate.
They do charge a monthly fee for using more that a small amount of money though so do some maths.

I have a clear score of 999 (max), credit history wont be an issue.