When I was younger I always thought that credit cards were a bad thing. That you only had a credit card because you had no money, but it turns out that I was mega wrong! Most credit card companies are dead fussy about who gets their cards and there can be quite a lengthy process to get one. I know when I got my first credit card last year that I was a little shocked by how many questions I had to answer. It then got me thinking about those that have bad credit and really do need a credit card to get by until next payday.
That’s where companies like Vanquis come in to play. They give credit cards to those with bad credit and with responsible use of their credit cards to help rebuild their credit rating and get them back on track. All you have to do is use your card sensibly, stay within your credit limit and pay your monthly minimum payment on time which with their credit limits starting as low as £100 can really help to turn your life around should you want to be improving your credit score.
At the start of this post, I shared that I had got my first credit card last year and I thought it’d be nice to share why I got one when I used to have a bit of a negative view on credit cards. There are a few reasons to why I decided now was the time to fill out the application and here they are.
If you read this blog on the regular then you’ll know we’ve been well and truly been bitten by the travel bug. After some searching and recommendations from family, we found a card that doesn’t charge you when you use it abroad. When we were heading to America at the end of last year we worked out that carrying around a decent amount of cash when we were changing hotels nearly every night, unpacking and repacking our bags and sometimes leaving bags in hostels we knew a credit card would be ideal as we could just call up and cancel should it get lost or my purse get stolen. I know there are plenty of prepaid cards we could have been able to use, but this takes me on to my next point…
Mike and I are looking to buy a house together next year. He wants to sell up the flat, move to a nearby town and I’ve been chosen as the lucky human he wants to get a house with! But, I am going to have to prove to the banks that I am a great candidate for them to give a mortgage to and that means I have to show that I can money back every month. Obviously, I don’t max it out every month as I can’t afford to pay that back but I do use it abroad, for paying for flights and hotels and on months when we aren’t traveling I will use it for the odd purchase. I have it set up as a direct debit from my bank account so I know it gets paid off before the deadline each month.
Do you have a credit card?