credit Card

Watch this thread
kh2021
Badges: 9
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#1
Report Thread starter 4 weeks ago
#1
is it worth getting a credit card at 18
0
reply
Noble.x
Badges: 19
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#2
Report 4 weeks ago
#2
Yes. For many reasons including safety
1
reply
Debold
Badges: 7
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#3
Report 4 weeks ago
#3
If you can 100% ensure you pay it off on time when it's due then yes. Just use it for small things, like the occasional lunch or whatnot. Do not treat it like extra cash. Failing to do this will hurt your credit.
1
reply
wittybanta
Badges: 3
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#4
Report 4 weeks ago
#4
If you are able to get one then 100%, building up a good credit score is soooo important, you’ll get better interests rates and all other sorts of benefits, as long as you only use it when you want to pay in full, all at once. Never pay of in fractions over months using a credit card
0
reply
wittybanta
Badges: 3
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#5
Report 4 weeks ago
#5
(Original post by kh2021)
is it worth getting a credit card at 18
Oh also remember when applying to soft search, applying for a credit card can damage your score if you’re rejected so ALWAYS soft search to ensure you are eligible, making sure you have a consistent income is important when applying
Last edited by wittybanta; 4 weeks ago
0
reply
normaw
Badges: 15
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#6
Report 4 weeks ago
#6
(Original post by kh2021)
is it worth getting a credit card at 18
Having an income is usually a basic requirement to get one. You can check your eligibility for a card here:

https://www.moneysavingexpert.com/el...-cards/search/

Also, read about the pros and cons here:

https://www.moneysavingexpert.com/cr...it-cards-work/
0
reply
martin7
Badges: 20
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#7
Report 4 weeks ago
#7
(Original post by wittybanta)
Oh also remember when applying to soft search, applying for a credit card can damage your score if you’re rejected so ALWAYS soft search to ensure you are eligible, making sure you have a consistent income is important when applying
You don't typically get to decide what sort of search a lender does.

The best bet is to go for a card that's intended for people with no/limited credit history -- for example the "Barclaycard Forward" card. See https://www.barclaycard.co.uk/person...-card-criteria -- and check what their criteria say. There's no point in applying if you don't meet the criteria.

Once you get a card be strict with yourself over how you use it. Always pay the bill in full and on time.
1
reply
londonmyst
Badges: 19
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#8
Report 4 weeks ago
#8
If you are on the electoral roll, used to managing your money, have access to some savings and a regular income that means that you are able to pay in full & on time every month- go for it.
Good luck!
0
reply
gandalfslipper
Badges: 10
Rep:
? You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#9
Report 4 weeks ago
#9
I’d probably stay clear unless you need one it’s a very slippery slope at 18 to getting into debt if not used carefully.

You don’t need one for a credit score - it’s a fictitious marketing gimmick. It can help your credit history and credit report - that’s what matters but a mobile contract can do something similar.

Unless you have a need for the card I’d say it’s daft to get one for the sake of it.

And also I’d you do decide most likely your first will have high APR so must be paid off in full each month. Chances of getting a 0% card would be very low, your first cards will probably be (if not your bank) Vanquis/Aqua/Barclaycard Forward until you have a few years of credit history
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest

Were exams easier or harder than you expected?

Easier (34)
26.56%
As I expected (44)
34.38%
Harder (43)
33.59%
Something else (tell us in the thread) (7)
5.47%

Watched Threads

View All