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90DC

Shall i get a Capital One Classic Credit Card?

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I was looking at ways to improve my credit score this evening and worked out that the best way (Only realistic way) was to get a credit card, i have spent an hour looking at credit cards and chose a Capital One Classic (34.9%).

 

I am on benefits (Can i get a credit card on benefits) but only want a credit limit of £500, something to improve my credit limit.

 

I want to know if this is realistic based on the APR, 16 months @ £40p/m total around £630 repayable. Is this right? Are there any more charges?

 

Do i have a better option?

 

Sorry about the questions, i have never taken credit before but thought it be better to get a credit card than a Provident Loan, as this isn't just to buy something i can't afford, it is to improve a credit rating at the lowest possible fee. I can afford minimum repayments of up to £50 per month.

 

Please could anyone let me know if there is anything else i need to know or any better options.

 

The money is going towards transport for me so i can expand my job search and get to college, lowering the cost of my partner taking me in the car.

 

Please help.

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Hello 90DC!

 

Do i have a better option?
Yes.

 

Don't get a Debt Card, and try to forget all about financing anything on Debt.

 

You will be better off, but it is harder at first.

 

Forget trying to get a good Debt Score, if you avoid Debt, it is not an issue you need to worry about. Don't play by their rules and don't be deluded that a good Debt Score is a good thing.

 

In a few years time, if you have concentrated on Cash and only what you can afford with it, you will look back and know this was good advice.

 

Think laterally, and see what else you can get. A Moped? A cheap Banger? Some Cars are almost being given away these days, so shop around. The money you would pay on the 34% nasty Debt Card will keep a banger running and, bit by bit, you can climb up out of the hole and be so much better off with no Debt.

 

Debt should carry a Government Health Warning.

 

Cheers,

BRW

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BRW,

 

I think you have just saved somebody from doing something really stupid.

 

It was more an indulge if i think clearer after a cup of hot chocolate, i'll take your advice and guarantee you wont see me moaning anywhere on here in five months time because my credit card has done me over, because i wont be having one, thanks to your advice.

 

I am off to bed now, feeling very good that somebody persuaded me in a few sentences, thanks alot mate, i will not be applying for a credit card now, i don't honestly need it, instead i will buy a cheaper motor, maybe i will be driving around in a Kia, but atleast it is mine in principle.

 

Thanks again, and good night.

 

90DC

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Hello 90DC!

 

Excellent, I am delighted.

 

You will not regret this. The more people that do this, the better off we will all be, and it will also starve the Debt Industry of the very thing it needs to survive.

 

To re-build Britain, this is the way to go. It starts with people like you taking charge of things, and throwing off the grasping vermin that just want to turn you into yet another Debt Slave.

 

Cheers,

BRW

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