Help! Which Credit card is best?

C

Caroline123

Registered User
Messages
23
Hi,

I'm after applying for a credit card through MBNA which I just got approved for :).

I'm new to this & have never used or applied for a credit card before :confused:. A friend of mine told me she thinks I'm mad as MBNA have really high rates :eek: and reccommended trying somewhere else instead?!

Any reccomendations on who is offering the best rate on credit cards at the moment in Ireland? As I haven't a clue!! And how would I go about cancelling my MBNA one if I do get approved elsewhere? As it's only actually being sent out to me in the post today so I haven't used it at all.

I'd really appreciate any advice you can offer,

Thanks!! ;)
 
Hi Caroline,

First things first do not use their credit card! My parents had one with them and there charges are just crazy. Every month they would charge a late fee even though the bill was paid on time not to mention the APR and the fact that they bombard you with blank cheques that you can use!

Ulster bank have a 9 month interest free period on purchases but after that the APR is quite high at 18.9%.

Bank of Scotland have 6 month interest free period on purchases then their APR is 9.5% I have a credit card with them and have had no probs since i took it out last year.

NIB have a better apr then BOS but i am not sure of their rates etc. Have a look at their website. Also check the best buys section as there are plenty of threads there. Good luck.

Jockey
 
Thanks so much. That's really helpful. I think I might apply to Bank of Scotland. That's a much better rate than MBNA!!
 
Caroline - I know I'm a bit of a 'cracked record' on this issue - the rate should be irrelevant. Don't use a credit card to borrow, use for convenience only. If you can't pay your credit card bill when it arrives each month - don't have one - personal loan a much cheaper option.

Regards,


BM
 
Jockey said:
.......................

Ulster bank have a 9 month interest free period on purchases but after that the APR is quite high at 18.9%.

Bank of Scotland have 6 month interest free period on purchases then their APR is 9.5% I have a credit card with them and have had no probs since i took it out last year.

NIB have a better apr then BOS but i am not sure of their rates etc. Have a look at their website. Also check the best buys section as there are plenty of threads there. Good luck.

Jockey
Click to expand...

Also Caroline, those "interest-free" periods mentioned by Jockey only apply for those switching or transferring their existing CC balance to the afore-mentioned institutions.

As you are new to this, these do not apply to you.
 
Some cards give interest free on purchase as well as balance transfers to new customers.
 
CCOVICH said:
Some cards give interest free on purchase as well as balance transfers to new customers.
Click to expand...

Ohhh Ohhhhh :eek: :eek:

Of course both Jockey and CCOVICH are entirely correct, some institutions do indeed give a 6 or 9 month 0% period for purchases to new customers.

My apologies for inadvertedly misleading you on this.
 
No problem. All of your advice is much appreciated. I think I'll try Bank of Scotland as they seem to be really competitive!

I want to avoud getting a short-term loan if possible. I have every intention to keep on top of the payments as the credit card bills come in!!

BUT, I'd also like to know that if a situation were to arise where I were I do encounter interest charges, that they'd be on the lower end of what's available out there.
 
You must log in or register to reply here.
Back
Top