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My first credit card - a few questions

  • 12-05-2018 11:18am
    #1
    johnny2411
    Registered Users, Registered Users 2 Posts: 4 ✭johnny2411


    Hello,
    Just ordered my first credit card - CLICK Visa Card from AIB, as i am short on cash.
    Do i need to prepay money into it and use that as a maximum amount i can spend?
    Or do i get a credit limit from the bank? If so how much is it.
    If i buy something for 1000 euro i have two months to pay that back, correct?
    Questions may look stupid to most, but I couldn't find relevant info.
    Would appreciate your help :)
    Tips and advises are welcomed, too.


Comments

  • #2
    callaway92
    Registered Users, Registered Users 2 Posts: 15,006 ✭✭✭✭callaway92


    Why are you getting a Credit Card if you don't know how to use it properly?

    It's monthly to be paid. You will be given a credit limit set at the discretion of your bank which you'll be made aware of in the post that comes to you.

    You don't need to prepay money into it. It's a CREDIT card. Don't be buying stuff if you can't pay it back fully before month end.


  • #3
    Annalise Hissing Thunderbolt
    Posts: 0 ✭ Annalise Hissing Thunderbolt


    Some advice.

    Credit cards are not something you get when you are "short on cash".

    If you want to buy something for €1,000. Save for it.

    No, you dont have 2 months to pay it back, you have to pay the interest every month. if you dont pay the full €1,000 back plus interest asap, you will be paying interest on it until you do.

    Never take out cash from a credit card, its a much higher rate of interest than a purchase of goods.

    Lastly, you sound as if you really shouldn't be getting a credit card. When you get it, cut it up and put it in the bin.


  • #4
    Del2005
    Registered Users, Registered Users 2 Posts: 19,102 ✭✭✭✭Del2005


    johnny2411 wrote: »
    Hello,
    Just ordered my first credit card - CLICK Visa Card from AIB, as i am short on cash.
    Do i need to prepay money into it and use that as a maximum amount i can spend?
    Or do i get a credit limit from the bank? If so how much is it.
    If i buy something for 1000 euro i have two months to pay that back, correct?
    Questions may look stupid to most, but I couldn't find relevant info.
    Would appreciate your help :)
    Tips and advises are welcomed, too.

    The only tip is to cut up the credit card as soon as you get it, as the others have said a credit card is not something to get when short of cash.


  • #5
    theteal
    Registered Users, Registered Users 2 Posts: 7,593 ✭✭✭theteal


    As a new customer you probably have a period of interest free purchases - assumption not to be taken as fact, look into your product details. You can use this time period to pay to pay off what large purchases you need to make. Cheapest loan you can get BUT you need to manage it properly.


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