3 Credit Card Rules You Have To Follow
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- เผยแพร่เมื่อ 1 ก.ค. 2024
- Whenever I write or talk about credit cards, there are a handful of things I always say. Always. That's because they're vital rules that mean a credit card can help your finances rather than cause harm.
There are plenty more things to understand, especially when you're looking at different types of credit card, but these are the essential basics.
W A T C H N E X T
Best credit cards • Best Credit Cards for ...
#creditcards #cashback #applyforcreditcard
00:00 1: Do you need a credit card? (the pros & cons)
06:40 2: Check you're eligible before applying
11:30 3: Pay off on time and in full
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S U B S C R I B E / @becleverwithyourcash
N E W S L E T T E R - becleverwithyourcash.com/news...
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T W I T T E R - / andyclevercash
I N S T A G R A M - / andyclevercash
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A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
Is it a good idea to put monthly standing orders like electricity, gas, broadband bills on credit card?
@Andy can u do a video on the best rose gold cards please, hun?
John Lewis are switching their 'Partnership' credit card (*Oct) from HSBC to👀 New Day finance. I've just changed my current card to the new one.. easy process. 👍
Hi, Andy. Thanks for the video. I would like to know your opinion on something. My girlfriend is Irish and we gonna travel the world, starting through South America, we would like to get an american card that we could use since we gonna be spending lots of money, do you have any card recommendation for us? Thank you
So I have a bank of Scotland card I’ve had for 3 years, it doesn’t give any reward, i just opened an Amex platinum everyday credit card to get cash back, is it ok to not use the bos card and just use the Amex instead of closing the bos card
Within my monthly budget is an allowance for diesel fuel. When I go to the petrol station to top up, I'll pay £40 in diesel using my credit card. To cover that, I will transfer £40 from my current account to a savings account (or 'credit card pot'), and at the approporiate time I will transfer the money back to my current account and pay the credit card. Seemples.
For credit card, do you always cancel your credit card after you obtain your "new card member reward", or should i stay with the same card ? for example i have a Amex BA card in which i have already obtained the "new card member reward", wondering should I cancel it or keep it ? if keep it can i apply for a different Amex card ? (maybe i wont get the new card member reward ?
You won't get another new card member reward if you've ever had an Amex card in the last 2 years. If you want the welcome bonus again you will need to cancel your card and wait 2 years before opening one again.
No, it will negatively affect your credit score.
It’s time that consumers are allowed to cancel or cut up their credit cards without it having a negative effect on their credit score you pay off the balance and you’re free.
This just happened to me I don’t want one cancelled it and my score dropped by 164 it’s BS! Plus unfair for those of us that don’t want to have a debt
Lenders like longevity. Just keep the card open and leave it in your underwear draw and don't use it.
@@blackbeauty7499 just don't use the card if you're worried about having a debt. Your score drops when you cancel credit cards because it suggests your scared of not being able to manage them, not a good sign if you're asking to borrow money from someone else
@@samc12345 If you don’t use the card does your score still go up?
@@blackbeauty7499 the point is that it your score doesn't go down for closing the account which is what you were worried about.
just got the gold amex 5k limit and got the virgin credit card 1600pound limit and just got the loyds credit card with 1000 pound limit
Well done Sam 👍
The AMEX gold is a charge card that has no preset limit
Yoo a virgin credit card? I need me one of those
@@jollama I don't believe AMEX issue the gold charge card in the UK anymore...
7
Because not having one my credit score dropped by 164!!! 😒 I don’t understand why I need to have one when I don’t want any debt… I was told because I don’t have one it messes with my score???
Using a card helps your score.
Not having a card damages your score.
Use one for your food shopping and the other for petrol, and pay them both in full every month.
Your score will go through the roof.
@@nickcook7408 Thank you so much for your advice I’ll do be doing that because it’s dropped again by over a 100 for doing a hard search… so this is very much appreciated 😁❤️
CC you are 100% protected 0% liability its the banks money. just pay of in in full very month and only spend what you can afford
Problem number 1 is calling them credit cards. Much better for everyone concerned to call them debt cards.
They are only debt cards if you don't pay them off. 🤔
Credit is debt. Same thing.
@@nickcook7408 not at all, debt is when you owe money. Credit is a trust you will make the payment in the future. If you don't pay off the promised future payments you will be in debt. Thus if you don't pay your credit you will be in debt.
@@bradleymaguire7179 exactly. That's all there is to it.
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