Need to get a credit card.

Catsmokinpot

I have refused to get a credit card since I left home, I think they are dangerous and I have seen many friends of mine build up massive amounts of debt from using them.

However, they are pretty handy for purchasing online goods, I don't want to rely on using my friends every time I want anything and I'm going traveling next year. So, I think I'll probably need one as it will be safer than carrying wads of cash around. I'm looking for a good credit card, but I don't know what to get, can anyone advise me as to which are the best? or even what to look for?

any help would be greatly appreciated.

zod

consider prepaid CC's .. https://www.3v.ie/

if u have to get one : http://www.halifax.ie/index.jsp?pID=94&nID=106&WT.srch=1

dotsman

Credit Cards aren't dangerous - it's the people who use them!

Seriously, most people are capable of managing their finances perfectly, it's just a few who seem to zero control and act like a kid in a sweetshop.

You should definitely get a credit card now. If you can't handle a credit card now, how are you going to handle a mortgage, car loans, purchasing furniture on credit etc later in life?

Do you use on-line banking? I check my balances every day. I do not buy anything unless I know that I can pay for it within the next month. In 6 years of having a credit card and using it heavily (these days racking up about €1,200 a month), I have only ever not paid off the bill in full about 2 or 3 times (and those times, I was in college and I would have paid it off in the subsequent month).

My CC costs me €40 per annum in tax and €0 in interest/charges. I can do a lot of on-line shopping and never have to worry about keeping cash and queuing for ATMS when it is busy etc. It also gives me a very healthy credit history.

Creamy Goodness

dotsman, just so you know since the last budget the tax on credit card has gone down. think it's by 25%.

dotsman

Cremo wrote: »

dotsman, just so you know since the last budget the tax on credit card has gone down. think it's by 25%.

Cheers, forgot about that. Still waiting for the thieving b@stards to completely remove the stamp duty though;).

AckwelFoley

Yea credit cards place temptation to spend there infornt of you ..

But if used correctly they are good.

Halifax are the cheapest i believe at 9.5% apr.

niceirishfella

dotsman wrote: »

Credit Cards aren't dangerous - it's the people who use them!

+1

Toots

AFAIK, there are a lot of charges on the halifax one, the rate could be low, but consider tx charges, late fees etc.

.1 We will charge:
(a) €7 each time you do not make a minimum payment by the Payment Date;
(b) €7 if your account balance is over your credit limit on a statement date;
(c) €7 each time a direct debit or other item is not paid.

Whatever you do, stay away from MBNA, as their charges are astronomical.

BOI have a good one at the mo, it's 0% for first 6 months, and they've got this payment plan thing so you can put up to two large purchases on it and pay them off over a year instead of a month at 6.9%. (not just plugging this cos I work for them, I've got it myself and it is a handy number:p)

PTSB have the Visa ICE card which is also meant to be very good, rate is 9.9% and AFAIK, they're not as tough on charges as Halifax are.

The main things you need to look at when chosing a credit card isn't just the rate, you need to check out the T&Cs aswell, they'll give you an indication of how costly it will really be. Sometimes you're better off going for something that has a less competitive rate, but no charges.

kleefarr

Another vote for 3V.

Pythia

Remember if you're going to pay off the full amount every month, it doesn't really matter what the rate is.

The Rooster

Pythia wrote: »

Remember if you're going to pay off the full amount every month, it doesn't really matter what the rate is.

Exactly. And if you don't intend paying it off every month, you shouldnt get one!

enrique66_35

Survey on it'syourmoney.ie might be of interest...certainly cleared up some of my own confusion since i'm also currently contemplating a credit card....

http://www.itsyourmoney.ie/cs_tab.jsp?stID=10