Which Credit Card? (Student)
Discussion
Hi all,
I don't know much about Credit Cards really in terms of keeping up to date with them, but I know what they do and entail etc.
Basically I'm studying at University at the moment and I wanted to get a credit card to be able to buy small things like my groceries, fuel for my car etc, things I can easily pay off. I only want to do this to build my credit rating, I'm not planning on going mad!
So I found this https://www.americanexpress.com/uk/content/nectar-... and as I use Sainsburys for my groceries the Nectar Card aspect seems like a bonus, I use Shell for my fuel though. However the fuel reward card at Shell seems to gather so slowly with the amount of miles I do jacking that in and going with BP (again for Nectar points) wouldn't be a disaster.
Just wondering what you guys think and what you'd recommend to me. Of course I'd like a low interest rate (though as I say I plan on not having to gather any to pay anyway...) and some rewards like vouchers if possible!
Thanks in advance
Matt
I don't know much about Credit Cards really in terms of keeping up to date with them, but I know what they do and entail etc.
Basically I'm studying at University at the moment and I wanted to get a credit card to be able to buy small things like my groceries, fuel for my car etc, things I can easily pay off. I only want to do this to build my credit rating, I'm not planning on going mad!
So I found this https://www.americanexpress.com/uk/content/nectar-... and as I use Sainsburys for my groceries the Nectar Card aspect seems like a bonus, I use Shell for my fuel though. However the fuel reward card at Shell seems to gather so slowly with the amount of miles I do jacking that in and going with BP (again for Nectar points) wouldn't be a disaster.
Just wondering what you guys think and what you'd recommend to me. Of course I'd like a low interest rate (though as I say I plan on not having to gather any to pay anyway...) and some rewards like vouchers if possible!
Thanks in advance
Matt
Like I said though, I will only be using the CC for more than manageable monthly costs such as the odd bit of groceries or petrol. Literally not more than about £50 a month, so it'll be paid off easily, seriously not a problem in terms of getting into trouble and using it too much.
I've just been told that using one even for small amounts each month like I suggest can help improve my credit rating?
If anyone keeps up with this particularly and knows which CC is a particularly good choice at the moment then please let me know
I've just been told that using one even for small amounts each month like I suggest can help improve my credit rating?
If anyone keeps up with this particularly and knows which CC is a particularly good choice at the moment then please let me know
As a student you may struggle with the "I have a household income of at least £30,000" part.
Regardless, the Nectar card still offers a lower reward level than the American Express Platinum Cashback Card.
After much research this is definitely the best card available - and gives you cash as opposed to vouchers.
Regardless, the Nectar card still offers a lower reward level than the American Express Platinum Cashback Card.
After much research this is definitely the best card available - and gives you cash as opposed to vouchers.
You might struggle to get an AMEX as a student.
AMEX typically have high interest rates and are out there not looking to take on "risks" (they don't want the hassle) they just want high spenders to put significant volumes through them without worrying about recovering minimum payments only!
I'd go with CapitalOne or someone along those lines as they offer credit card to "build" your credit rating - I'd imagine your spending at the moment will be so low (as you've said above) that the reward cards aren't going to give you very much at your current levels. Certainly change as soon as you've got steady employment and a good initial record though!
Also - for those saying don't have a CC as a student. I don't think you can cover all students with the same brush....very much a case by case maturity based assessment I think. Furthermore I have always had credit cards (and always paid them off!) as they are fantastic if you find yourself in an emergency with an inevitably (as a student at least) depleted current account!!!
AMEX typically have high interest rates and are out there not looking to take on "risks" (they don't want the hassle) they just want high spenders to put significant volumes through them without worrying about recovering minimum payments only!
I'd go with CapitalOne or someone along those lines as they offer credit card to "build" your credit rating - I'd imagine your spending at the moment will be so low (as you've said above) that the reward cards aren't going to give you very much at your current levels. Certainly change as soon as you've got steady employment and a good initial record though!
Also - for those saying don't have a CC as a student. I don't think you can cover all students with the same brush....very much a case by case maturity based assessment I think. Furthermore I have always had credit cards (and always paid them off!) as they are fantastic if you find yourself in an emergency with an inevitably (as a student at least) depleted current account!!!
Gatsods said:
Like I said though, I will only be using the CC for more than manageable monthly costs such as the odd bit of groceries or petrol. Literally not more than about £50 a month, so it'll be paid off easily, seriously not a problem in terms of getting into trouble and using it too much.
I've just been told that using one even for small amounts each month like I suggest can help improve my credit rating?
If anyone keeps up with this particularly and knows which CC is a particularly good choice at the moment then please let me know
This is how it starts. Trust me, it will not remain that way.I've just been told that using one even for small amounts each month like I suggest can help improve my credit rating?
If anyone keeps up with this particularly and knows which CC is a particularly good choice at the moment then please let me know
Do you intend to pay it off every month or will you will you be buying a few expensive things that take a while to pay off?
Obviously that's where you need to think about cashback or low interest. Most of the supermarkets do credit cards that are probably worth a look if you think food is going to be one of your biggest spends, however I'll second the comments above about being very careful. I was fairly skint when I was a student and there's always the temptation with a credit card...
Obviously that's where you need to think about cashback or low interest. Most of the supermarkets do credit cards that are probably worth a look if you think food is going to be one of your biggest spends, however I'll second the comments above about being very careful. I was fairly skint when I was a student and there's always the temptation with a credit card...
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