new to credit cards

nillox

well basically i dont know anything about credit cards such as APR and credit and so on and so forth.
i have the student plus laser/maestro debit card now and its great to use.
but i want to buy off the internet and i need a visa or mastercard. i was looking at the AIB student mastercard mc2. ill mostly be using it to buy off the internet so can anyone tell me about this card or cards like it?

if anyone is wondering im 21, in college, dont have a job buti have interviews lined up and a good bit of cash in the bank. hope that info will help with explaining.

Dont be at yourself

Don't get a credit card. I got the mc2 when I was in college, and it's been maxed out ever since. Everyone starts out with the best intentions of paying it off straight away etc, but they never do.

nillox

well i wont be maxing it out ill only spend what i got. iv to buy like 1000 euro worth of sound equipment and thats it

Dont be at yourself

well i wont be maxing it out ill only spend what i got. iv to buy like 1000 euro worth of sound equipment and thats it

That's what everyone says, but it seldem ends up that way. The temptation of FREE MONEY! is too much...

BuffyBot

I think it's probably wrong to generalise quite so much.

However, I would sya that *some* people do fall into that temptation, and it's a bad habit to start out with.

On the flip side, some people do use cards responsibly, and don't max them out. However, nillox, I wouldn't buy one grands worth of stuff on a credit card normally - ask the bank about getting a loan or an overdraft as the interest rates on those would normally be lower than a CC

seamus

BuffyBot wrote:

Ask the bank about getting a loan or an overdraft as the interest rates on those would normally be lower than a CC

Indeed. A credit card shouldn't be treated as an facility for buying stuff when you plan to pay it back later. It should really be used for times when cash won't cut it - Internet purchases, one-off large purchases (provided you have the money of course), emergency purchases, etc.

A loan from the bank will also sit on your credit rating and provided that you pay it back on time, will improve your chances of getting other loans in the future.

mgsrocks

I have a bank of ireland student credit card, and its great for buying over the interent. Since its a student card i dont need to pay interest if i pay it off in a month, i think with aib they give you two months. If you get one, your best bet is to set up internet banking, thats what i did and i it means i can pay it off nearly straight away. Your only proplem is they only give a 400 euro credit limit.

Skyuser

mgsrocks wrote:

Since its a student card i dont need to pay interest if i pay it off in a month

It's the same with every credit card.

stepbar

By all means if you need a credit card, get one. Back in day when I was in college, I practically lived off mine. At one point it was maxed out to its limit of 1600 :eek: . Don't know how I would have survived without it. Anyhow banks like students, they are one of the best groups for managing finances. Very low risk.

parsi

If you get a card make damn sure you pay it off each month. The interest charges border on the penal.

Then again we've all gone through periods where cards had only minmum payments but it's a very expensive way of buying stuff.

If you only want to buy sound gear why not try your credit union for a loan - they don't screw you and don't get odd about missed payments.