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Who to go with for first credit card?

So im out of uni and have a stable job, therefore think its time to get a CC in order to actually build up my credit score.

I was wondering if there are any that are better than others?
I bank with both Halifax and NationWide but would be open to using others or even one of the supermarkets.
Any thoughts?
Reply 1
Avatar for Dez
Dez
20
Assuming that you're going to pay off the balance in full every month, i.e. the card is just for spending and building your credit score, you should shop around for the best cashback deal you can find. There's a good list on MoneySavingExpert with the highest cashback cards, although you may well get rejected for a few if it's your first time.

Your bank may be more inclined to give you a card, but there's a slight caveat there in that they can automatically deduct money from your current account if you default on the card - hopefully things won't ever come to that though. Store cards are also usually easy to obtain - Amazon do a good one if you happen to shop there reasonably often.
Original post by Richy19
So im out of uni and have a stable job, therefore think its time to get a CC in order to actually build up my credit score.

I was wondering if there are any that are better than others?
I bank with both Halifax and NationWide but would be open to using others or even one of the supermarkets.
Any thoughts?


If you pay it off every month then the Santander 123 CC gives you cashback on food, department stores, petrol and trains which is pretty decent. I got a £3,000 limit offered a year out of uni which is more than sufficient if you use it for credit score building.

Other cards offer different cashback deals so you need to analyse your spending and see which ones would benefit you most.
Reply 3
Avatar for Richy19
Richy19
OP
1
Original post by Dez
Assuming that you're going to pay off the balance in full every month, i.e. the card is just for spending and building your credit score, you should shop around for the best cashback deal you can find. There's a good list on MoneySavingExpert with the highest cashback cards, although you may well get rejected for a few if it's your first time.

Your bank may be more inclined to give you a card, but there's a slight caveat there in that they can automatically deduct money from your current account if you default on the card - hopefully things won't ever come to that though. Store cards are also usually easy to obtain - Amazon do a good one if you happen to shop there reasonably often.



Original post by Hedgeman49
If you pay it off every month then the Santander 123 CC gives you cashback on food, department stores, petrol and trains which is pretty decent. I got a £3,000 limit offered a year out of uni which is more than sufficient if you use it for credit score building.

Other cards offer different cashback deals so you need to analyse your spending and see which ones would benefit you most.


Well the plan sure is that I will pay it off on the month, I have had a look at money saver expert and there are 2 that catch my eye.
The Santander 123 card and the Tesco card, the santander one has actual cashback but has a £24 yearly cost and both have 18month 0%

This may be really silly but when they say 18motnsh 0%, is that for each purchase? or is it just for the first 18 months since you get the card?
Also, are either of these good for substituting debit cards? I read on MSE that some cards shouldnt substitute debit cards for small shops or for things like taking money out from cash machines
Original post by Richy19
Well the plan sure is that I will pay it off on the month, I have had a look at money saver expert and there are 2 that catch my eye.
The Santander 123 card and the Tesco card, the santander one has actual cashback but has a £24 yearly cost and both have 18month 0%

This may be really silly but when they say 18motnsh 0%, is that for each purchase? or is it just for the first 18 months since you get the card?
Also, are either of these good for substituting debit cards? I read on MSE that some cards shouldnt substitute debit cards for small shops or for things like taking money out from cash machines


Credit cards carry a charge for withdrawing cash so no, they are not a replacement for a debit card.

Some shops will charge you a fee for using a CC for small transactions.

The 18 months is any balance in the first 18 months of having the card.

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