3 Credit Card Rules You Have To Follow
Whenever I write or talk about credit cards, there are a handful of things I always say. Always. That's because they're vital rules that mean a credit card can help your finances rather than cause harm.
There are plenty more things to understand, especially when you're looking at different types of credit card, but these are the essential basics.
W A T C H N E X T
Best credit cards • Best Credit Cards for ...
#creditcards #cashback #applyforcreditcard
00:00 1: Do you need a credit card? (the pros & cons)
06:40 2: Check you're eligible before applying
11:30 3: Pay off on time and in full
MORE
S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
(You'll also get a free Quidco bonus for signing up)
T W I T T E R - / andyclevercash
I N S T A G R A M - / andyclevercash
F A C E B O O K C O M M U N I T Y - / 2661970707423383
B L O G - becleverwithyourcash.com
A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
Пікірлер: 34
@Andy can u do a video on the best rose gold cards please, hun?
John Lewis are switching their 'Partnership' credit card (*Oct) from HSBC to👀 New Day finance. I've just changed my current card to the new one.. easy process. 👍
Is it a good idea to put monthly standing orders like electricity, gas, broadband bills on credit card?
Hi, Andy. Thanks for the video. I would like to know your opinion on something. My girlfriend is Irish and we gonna travel the world, starting through South America, we would like to get an american card that we could use since we gonna be spending lots of money, do you have any card recommendation for us? Thank you
Within my monthly budget is an allowance for diesel fuel. When I go to the petrol station to top up, I'll pay £40 in diesel using my credit card. To cover that, I will transfer £40 from my current account to a savings account (or 'credit card pot'), and at the approporiate time I will transfer the money back to my current account and pay the credit card. Seemples.
So I have a bank of Scotland card I’ve had for 3 years, it doesn’t give any reward, i just opened an Amex platinum everyday credit card to get cash back, is it ok to not use the bos card and just use the Amex instead of closing the bos card
It’s time that consumers are allowed to cancel or cut up their credit cards without it having a negative effect on their credit score you pay off the balance and you’re free.
@blackbeauty7499
Жыл бұрын
This just happened to me I don’t want one cancelled it and my score dropped by 164 it’s BS! Plus unfair for those of us that don’t want to have a debt
@samc12345
Жыл бұрын
Lenders like longevity. Just keep the card open and leave it in your underwear draw and don't use it.
@samc12345
Жыл бұрын
@@blackbeauty7499 just don't use the card if you're worried about having a debt. Your score drops when you cancel credit cards because it suggests your scared of not being able to manage them, not a good sign if you're asking to borrow money from someone else
@blackbeauty7499
Жыл бұрын
@@samc12345 If you don’t use the card does your score still go up?
@samc12345
Жыл бұрын
@@blackbeauty7499 the point is that it your score doesn't go down for closing the account which is what you were worried about.
just got the gold amex 5k limit and got the virgin credit card 1600pound limit and just got the loyds credit card with 1000 pound limit
@guesswho2616
Жыл бұрын
Well done Sam 👍
@jollama
Жыл бұрын
The AMEX gold is a charge card that has no preset limit
@jollama
Жыл бұрын
Yoo a virgin credit card? I need me one of those
@SamAbUK
Жыл бұрын
@@jollama I don't believe AMEX issue the gold charge card in the UK anymore...
For credit card, do you always cancel your credit card after you obtain your "new card member reward", or should i stay with the same card ? for example i have a Amex BA card in which i have already obtained the "new card member reward", wondering should I cancel it or keep it ? if keep it can i apply for a different Amex card ? (maybe i wont get the new card member reward ?
@samc12345
Жыл бұрын
You won't get another new card member reward if you've ever had an Amex card in the last 2 years. If you want the welcome bonus again you will need to cancel your card and wait 2 years before opening one again.
@T.Q.
Жыл бұрын
No, it will negatively affect your credit score.
7
Because not having one my credit score dropped by 164!!! 😒 I don’t understand why I need to have one when I don’t want any debt… I was told because I don’t have one it messes with my score???
@nickcook7408
Жыл бұрын
Using a card helps your score. Not having a card damages your score. Use one for your food shopping and the other for petrol, and pay them both in full every month. Your score will go through the roof.
@blackbeauty7499
Жыл бұрын
@@nickcook7408 Thank you so much for your advice I’ll do be doing that because it’s dropped again by over a 100 for doing a hard search… so this is very much appreciated 😁❤️
@Sam-pn2kc
Жыл бұрын
CC you are 100% protected 0% liability its the banks money. just pay of in in full very month and only spend what you can afford
Problem number 1 is calling them credit cards. Much better for everyone concerned to call them debt cards.
@bradleymaguire7179
Жыл бұрын
They are only debt cards if you don't pay them off. 🤔
@nickcook7408
Жыл бұрын
Credit is debt. Same thing.
@bradleymaguire7179
Жыл бұрын
@@nickcook7408 not at all, debt is when you owe money. Credit is a trust you will make the payment in the future. If you don't pay off the promised future payments you will be in debt. Thus if you don't pay your credit you will be in debt.
@detweiler
Жыл бұрын
@@bradleymaguire7179 exactly. That's all there is to it.
First
@PRINCESSGEMINI1987
Жыл бұрын
🥇
🙄 p̶r̶o̶m̶o̶s̶m̶