Dean_H
Member
Registered: 19th May 02
Location: Rhondda Cynon Taff
User status: Offline
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Im good with money and have never been in debt and dont feel the need to (untill i get a house)
So whats the deal with credit cards?
Why should i get one?
I have heard that they "protect" you if you purchase somthing with a credit card?
Also cause i have never been in debt and never had a credit card does this mean i have a bad credit rating? If i get a credit card and pay my credit card off each month like a good boy does this mean i will have a good credit rating? what advantages do you get with a good credit rating?
How do they work? you spend and purchase things with your credit card throught the month and and the end of the month you get a statement saying what you owe the credit card company? if you pay off the statement straight away you wont encounter any charges???
Cheers
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Jamescorsa97
Member
Registered: 19th Aug 04
Location: Middlesbrough Drives: Cliosport 182
User status: Offline
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The only reason i got one is for 0% on purchases for first 6 months, after i have paid it back i am cutting it up!
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someone
Member
Registered: 13th Aug 02
Location: Surrey
User status: Offline
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credit card companys help you if you buy something and it goes wrong. online purchases are best on a credit card for this extra security
also if you pay your credit card off on time every money you basically you gain intrest on the money when it is sitting in your bank.
good credit rating is needed for gaining loans .
yes you get a credit card bill at end of month saying you owe me for 4000£ and pay me by a week wednesday.
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BlueCorsa
Member
Registered: 14th Jan 04
Location: Midlands Drives: MB SLK250 CDI
User status: Offline
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Credit cards offer protection against you being ripped off, like 'someone' said.
Like if a company goes bust or they just don't send your goods out - ring up the credit card company and they have to refund you. Some credit card companies offer insurance on purchases in case they get damaged/are stolen within a certain period from purchase (usually 60 days I think).
Some cards offer some travel insurance when tickets are purchased using the cards (although this type of protection seems to be dying off these days). My American Express has refund protection so that if I buy something then decide I don't want it, but the shop I bought it from won't take it back, then Amex buy it back off me 
Look on www.moneysavingexpert.co.uk for information on the best cards/cheapest rates, etc.
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Ally
Member
Registered: 2nd Jul 03
Location: Pontypool Drives: a Skoda
User status: Offline
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I have never got into debt and never ever had a credit card, yet i wont be able to get a loan/credit card etc etc untill i have a credit history ... which i can get because i probably wont get accepted for anything 
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Get a credit card, just dont go stupid with it!!!!
Ive got one with a £3k credit limit.....doesnt mean I go out buying stuff like a total idiot
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