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Using a Natwest Credit Card..Is this a bad idea? Watch

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    I'm short on money for my Christmas shopping and have used up almost all of my £500 overdraft on my student debit card, when I start my 2nd term in January though my bank told me that I could extend my overdraft to £750.

    I was thinking of using my credit card to finish my Christmas shopping, I'll need to spend roughly £120 on it. I'm a bit worried about the charges though, I've been advised to avoid credit cards completely.

    So, what I'm asking is, if I spend roughly £120 on my credit card, how much will I be expected to pay back on it in under a month? I'm not really sure how all of this works I don't want to end up with horrible charges.
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    (Original post by Mellybean91)
    I'm short on money for my Christmas shopping and have used up almost all of my £500 overdraft on my student debit card, when I start my 2nd term in January though my bank told me that I could extend my overdraft to £750.

    I was thinking of using my credit card to finish my Christmas shopping, I'll need to spend roughly £120 on it. I'm a bit worried about the charges though, I've been advised to avoid credit cards completely.

    So, what I'm asking is, if I spend roughly £120 on my credit card, how much will I be expected to pay back on it in under a month? I'm not really sure how all of this works I don't want to end up with horrible charges.

    If you pay the full amount back by the end of the month (actually I think Natwest give you 56 days) then you will incur no interest or charges.

    If you keep a balance on the card for over 56 days but stay within your credit limit and pay at least the minimum amount on time then you'll be charged interest but not fees.

    If you go over your credit limit then you'll be charged a fee, and if you don't pay the minimum payment within 56 days then you'll be charged both interest and fees.
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    If you have a student account with Natwest you can get their student credit card. Mine has a limit of £500 and a direct debit attached to it from my current account that pays it off in full every month. They can text you when you get close to the limit so you don't go over, and remind you when it needs to be paid off.
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    So as long as you pay back whatever you spend on the credit card before the end of the month you don't get any charges? I'd be paying back just the £120 I spent?
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    i have one of these and its my downfall. Since i cant pay off the whole amount, i keep making the minimum payments....yet the balance due keeps going up
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    Be careful though, I had a direct debit attached to my current account as well which I had no idea about as statements were sent to my home address...mother didn't bother opening them etc. I was happy enough going in to the branch every month paying off the full amount/more than the minimum payment at least. Just found out that they were charging my current account for the minimum DESPITE me paying off money on my credit card every month. Thus, a hell of a lot of charges
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    I'd avoid doing so, especially for something as frivilous as Christmas shopping.
 
 
 
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