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Credit cards

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
Right...I need a credit card but I'm a bit clueless about what's on offer.

I used to have one with my bank (HSBC) but I often forgot to make the payments but I'm planning on being more organised this time!

Do egg or capital one (I think?!) still do these interest free for a year ones?
Which credit cards would people recommend?

Thanks very much :thumb:

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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Pink Soda wrote: »
    Right...I need a credit card but I'm a bit clueless about what's on offer.

    I used to have one with my bank (HSBC) but I often forgot to make the payments but I'm planning on being more organised this time!

    Do egg or capital one (I think?!) still do these interest free for a year ones?
    Which credit cards would people recommend?

    Thanks very much :thumb:

    http://www.moneysupermarket.com/cards/credit_card.asp

    This should help.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Ah ok thanks very much - think I might go for Capital One..seems the best offer.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    If you don't want to worry about forgetting payments again you could set up a direct debit for it - You can choose to either pay it off in full or pay off the minimum each month.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Randomgirl wrote: »
    If you don't want to worry about forgetting payments again you could set up a direct debit for it - You can choose to either pay it off in full or pay off the minimum each month.

    I wouldn't set it up to pay off the minimum. The minimum is designed so that you'll end up paying the maximum amount of interest and barely scratch the balance. I use mine like a debit card, because I have it set up to automatically pay off the full balance. If you're planning on using it to buy things and pay it off later (dangerous imo), then it's probably best to work out how much you can afford to pay off per month, and set up a direct debit to pay that amount.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I have always had the full amount paid by direct debit. I am not sure if making late payments got you blacklisted - hopefully not.
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    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Earl Purple wrote: »
    I have always had the full amount paid by direct debit. I am not sure if making late payments got you blacklisted - hopefully not.

    Late payments do get recorded on your credit records but only for a certain period of time. If you make one or two late payments a year it wont be too bad but if you constantly make late payments it wont look good. Setting up a DD to make the minimum payments if you worried about forgetting making them is a good idea (becasue if you dont make the minimum repayemnts most will charge an additional fee), but remember to pay as much off as you can every month.
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