It doesn’t take as long as you think to apply for a credit card. You may need to answer some questions about your income and where you live, but they pretty much get back to you right away as to whether you have been approved for the card.
You’ll get told how much you have been approved for, (as in your credit limit), the APR you will get, and when you should expect the card.
A credit card is invaluable. Many think they do not need one and can live without. But if you have the means to pay it off every month, then I believe they are worth getting one.
Can you imagine getting stranded somewhere with no money, and a week till payday? Wouldn’t it be great if you had a credit card, where you could essentially see it as an advance on your paycheck?
Set up a direct debit with your current account, so as soon as you get paid, it goes out to pay off the credit card. The lending of money is like a safety net.
The way to approach credit cards is in the mindframe of it is ‘borrowing’ money. Be very clear with yourself that this is not your own money. And only spend as much as you can replace with your wages at the end of the month.
There are many great credit card offers, from free credit card balance transfer to 2 air miles for every pound you spend.
Before you submit that application, make sure you agree to all of the terms set out. There will be fees if you don’t pay the minimum amount, or if you use more than your limit. Get very familiar with these charges, don’t get caught out.