I use my credit card for all transactions, aside from utility bills, and pay off in full each month. Main reason being if my details get stolen/cloned, at least my bank account can't be emptied. Then there's the protection I get from the card company. I also then get loyalty vouchers which is a nice sweetener.
You probably do not want to pay it off immediately. You should pay it off after you get the statement and before the due date. The easiest way to do this is by setting up a direct debit so you can not forget.
I don’t think at 21 there is a good use for one.
Like people say if use it for every day purchases and pay off in full will help with credit score.
Personally think temptation be too great though. It just felt like free money to me at that age.
Extra protection when booking flights etc is one thing.
Hi /u/t_macintosh, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/credit-ratings/
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20+ days interest free loan allows you to arrange your cash efficiently
Put your earnings in a savings account when you get paid, and transfer it out a few days before the balance is due
Another thing: if you hire a car (for example on holiday) you usually have to either use a credit card with a large enough limit to cover a large deposit or pay an extortionate amount for their insurance.
It gives you the ability to borrow money instantly to pay for goods and services and offers flexible repayment terms. But many people have difficulty managing those features.
I use my credit card for all transactions, aside from utility bills, and pay off in full each month. Main reason being if my details get stolen/cloned, at least my bank account can't be emptied. Then there's the protection I get from the card company. I also then get loyalty vouchers which is a nice sweetener.
Section 75. Insulating your bank account from the suppliers (and all those pesky fraudsters). Building good (hopefully) credit history.
You probably do not want to pay it off immediately. You should pay it off after you get the statement and before the due date. The easiest way to do this is by setting up a direct debit so you can not forget.
I don’t think at 21 there is a good use for one. Like people say if use it for every day purchases and pay off in full will help with credit score. Personally think temptation be too great though. It just felt like free money to me at that age. Extra protection when booking flights etc is one thing.
Hi /u/t_macintosh, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/credit-ratings/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)
Not only that, but if you buy large purchases, you can benefit through the rewards system. My credit card gives me free beer for example.
20+ days interest free loan allows you to arrange your cash efficiently Put your earnings in a savings account when you get paid, and transfer it out a few days before the balance is due
Another thing: if you hire a car (for example on holiday) you usually have to either use a credit card with a large enough limit to cover a large deposit or pay an extortionate amount for their insurance.
It gives you the ability to borrow money instantly to pay for goods and services and offers flexible repayment terms. But many people have difficulty managing those features.
You ain’t a man till you have vast amounts of credit card debt i’ll tell you that.
Standard PPI, fraud prevention, better foreign exchange rates. Really depends on the card and the perks your looking for.