Which credit card should I get?

Piste

Hey, I've decided it's about time I got a credit card for buying things online as a lot of sites don't take laser. I'm an AIB customer so would like an AIB cc, but I'm not sure which to get. I'm a student so was looking into their student Mastercard but it doesn't seem that great, also no indication of credit limits are given. Then I saw the Visa "CLICK" card, which has a much lower APR (not that this would be an issue, I intend on having a standing order to clear my CC each month) and I would imagine has a higher credit limit.

Does anyone see any advantage to getting the student cc? The only really reason it was the first cc I looked at was because it said student and I was like "I'm one of those!".

Davy

If you are going to clear it every month, the card you get doesn't make much difference. The student card has a €600 iirc. Credit is going to a lot harder to get now, and until they see a steady repayment over a number of months, you may not get much more. Mbna are often said to be the easiest.

Piste

Aha, it seems you need an annual income of at least €25,000 to get the Click credit card. You'd think that'd be under the "who can apply?" section, as opposed to when you apply for it. Looks like it'll be the student card for me.

Jammyc

Apologies Piste if this isnt what youre looking for but I've been using 3v now for about 3 years and never had trouble with it. I think its much handier than the hassle of credit cards or whatnot and you know you cant end up in debt from it.

http://www.3v.ie

**Timbuk2**

You could always consider starting a current account with Halifax or Ulster Bank. Instead of a Laser card, you will receive a Visa Debit Card. This can be used anywhere that Visa is accepted, but debits the money straight from your account (just like a Laser card, but with a lot more acceptance).

It sounds like it would fit your purpose. The main disadvantage is that you need to have funds in your account to cover whatever purchase you are making, so if you try to buy shoes online for €65 with only €60 the transaction won't go through.

Halifax are supposed to be better than Ulster Bank, as they have had the Visa Debit card for longer. However, I am with Ulster Bank and have expierenced absoloutely no problems with my Visa Debit card.

Edit: Also the gov. stamp duty for a debit card is only €5 per year, compared to the €30 per year you would have to pay on a credit card.

Piste

Oh will the visa debit card be accepted wherever visa is? My major problem with my laser card is that UK sites wont accept it so I always end up having to borrow a credit card. It doesn't seem worth setting up another account though, seeing as I already have an AIB and BoI account. I applied for the student one the other day. In the information pack it said it "has a funky new design and is the first to the Irish market. Some ATMs, vending machines anf POS devices may not have the technology to accept this card and may reject or retain it". So it might be rejected or gobbled up by some machines, but hey, at least it's a funky new design!

punkindrublic

My credit card is with mbna so I'm not much help however I have a "visa debit" card from ulster bank too and yes you can use it anywhere that accepts normal visa credit cards, I have used mine for online shopping in the past so it does work.

daithijjj

If i was in your position id get a halifax visa debit rather than a credit card. I have a cc with lloyds tsb with a 5k limit, had it for about 12 years, i barely ever use it, i use the halifax visa debit instead. A cc does have certain advantages above and beyond a visa debit card (read t&c's with fine toothcomb) but for day to day and simple purchases the visa debit would maybe suit you better. Ive never had the halifax visa debit refused.

Davy

Piste wrote: »

Oh will the visa debit card be accepted wherever visa is?

Yes, Visa debit is accepted in the same places as visa credit.

You can setup an account with ulster bank or halifax, but the ulster bank seems to be having problems with some places online. The banks souls transfer all your direct debits and standing orders from one bank to the other for you all within ten days.

dotsman

The student card is the best for you. The reason banks bring out student cards is to allow students (who might not have a large/any income) get a credit card.

As you intend paying the bill in full every month, APR won't matter, and as the student card has a low limit, you don't need to worry about overspending and racking up a huge bill.

Would not bother with either the visa debit or 3v. They are intended for people who can't get a credit card. If your application is successful, then you have a much better card. One of them most important things to learn while a student (besides whatever course you are doing, how to get drunk on a tenner and how to drink 15 pints and still make it into a lecture the next morning), is to learn how to manage your finances. With student loans, overdrafts and credit cards, you can experience financial freedom - and debt, without getting into too much trouble, due to the low limits.

Just from my own friends, I can tell you there is a huge correlation between those who only get their first credit cards years after college and those who rack up massive bills that they can't handle. If it turns out you're bad at managing your finances, it's a lot better to learn your lesson with a debt of a couple hundred, and the bank of mom and dad is still available as a last resort, than a couple years later with a credit card bill of (tens of) thousands and you're too old to go back to the folks for help!

So many people are in massive debt (excluding their mortgage) today because they had no experience with credit cards and loans and never learned how to use them effectively.

P.S >> Just to correct he bit about a "Standing Order". A "Standing Order" is an instruction to your bank to transfer a specific sum from one account to another on a specified regular basis and is controlled entirely by you (ie to pay your monthly rent etc). To pay your CC bill, you will need a Direct Debit, which is pretty much the opposite. With a Direct Debit you instruct your bank to allow the specified company take a variable amount at various times (ie whatever they want from your account whenever they want). Sounds pretty scary, but is fairly standard and perfectly safe when dealing with "reputable" companies*. Examples of Direct Debits would be Credit Card, Electricity, Gas bills etc.

*<SNIP>

Toots

+1 to what Dotsman has said, excellent advice there.

daithijjj

Yea, dotsman has given you all the advice you need there.

Just one thing, i dont agree that visa debit was brought out for people who cant get credit cards. It may look this way in ireland due to the lack of cards to use online etc. I worked for credit card companies in the past. Aside from the few benefits in smallprint credit cards are designed for people who are not good with their finances imo.

Like i mentioned before, i have a credit card for a long long time with a 5k limit, i rarely use it, i use the halifax visa. The mistake people make with credit cards is they think they have just been handed a lump of cash to go and spend on a whim and cc providers rely on this attitude to rake in the fees and charges.

Things are a bit different now but in the good times, i made a pretty penny from convincing people to transfer their debt to us through balance transfers. The cc provider wasnt giving me a nice bonus out of the goodness of their heart, credit cards (ie, debt, charges and fees) are a great money earner. Yes, credit cards will help you learn how to manage your finances better, ive had people in tears on the phone to me and they were earning over 50k per annum and not able to pay massive cc debt.

Obviously, if your limit is low, this is not so bad, as dotsman says, mum and dad can ride in on a white horse and save the day. With my credit card, i could go online now and change my own credit limit if i wanted, the option is there, i can put it up by another 2/3k. But im not that silly, i can feel the 'cc provider devil' on my shoulder saying 'g'wan, you know you want too'. This is what they want, to tie you to debt and print money through my stupidity if i so wished.

Credit cards should be seen as 'EMERGENCY ONLY' purchases. I hope i dont sound patronising here, this is not my intention. Just throwing in my 2 cents from having been on the phone from 9-5 with people who cant pay it back but when you look at the statement it says.......

Plasma tv - £3k
Shoes - £195
Restaurant- £300

Anyway, enough of that, just remember to be very carefull with a cc, they want you to spend every penny of it. My provider hates me, my balance is zero and has been paid in full every month for over 10 years, hence the option to increase my debt, (sorry, i mean credit) whenever i want online.

matt70iu

Piste wrote: »

Oh will the visa debit card be accepted wherever visa is? My major problem with my laser card is that UK sites wont accept it so I always end up having to borrow a credit card. It doesn't seem worth setting up another account though, seeing as I already have an AIB and BoI account. I applied for the student one the other day. In the information pack it said it "has a funky new design and is the first to the Irish market. Some ATMs, vending machines anf POS devices may not have the technology to accept this card and may reject or retain it". So it might be rejected or gobbled up by some machines, but hey, at least it's a funky new design!

Yeah I know what you mean, laser is a pain in the backside. Typical of the Irish Banks to set up an insular system such as laser that is rarely excepted by online international retailers, and when it is, there's no buyer protection like with your credit card, crazy!

vibhutirs

If you will clear out end of month, and just want to use go Visa Click, I have it for two years and not a single problem. (I mostly use it like debit card, by transferring money from my bank to the card)