Which credit card? is this the one to go for and why?

Question

i was handed out a leaflet while i was out shopping in asda's this morning. the leaflet is about taking out a credit card from asda.

0% p.a.on balance transfers for 9 months (2.5% fee applies)

typical 17.8% apr variable

the man at the stand said the i can buy my shopping from asda, use my asda mastercard, and pay the balance within 56 days? is this true?

and above all shall i take out this credit card?

which credit card? is this the one to go for and why?

Answer 1

look for the abbey national zero card, 0% on everything! no fee's for balance transfer either!!!

Answer 2

I HAVE NO CLUE MY PARENTS WONT LET ME GET 1

Answer 3

Don't fall for traps you get handed out. You will be chosing a card without seeing other options out there for you. If you are looking for credit cards, check out the resourceful site below. You can see 100s of cards for yourself before you make a decision and read very helpful articles. You can apply online and get approved instantly too. See for yourself.

Answer 4

Well, it is all depends what is your intention with the card ?

Are you interested in Balance Transfer ? If so, ASDA is not the best one, but HSBC or Virgin.

Although HSBC charge 2.9%, they offer this rate for 24 months !

Virgin is offering a FREE balance transfer for 15 months !

Eggs  14 months for Free

RBS & Natwest: 13 months for FREE

http://www.financecomparator.co.uk/balan...

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If you are interested in CASH BACK

then, American Express is the best one giving you 5% back for the first 3 months.

http://www.financecomparator.co.uk/cashb...

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If you are interested in Loyalty points/ Rewards credit cards:

Then American Express BMW, Nectar or British Airways are the best option

http://www.financecomparator.co.uk/loyal...

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Now, for the best APR,

the co-op is in very good position (but conditions applie)

with 9% APR !!! with 46 days free credit !!!http://www.financecomparator.co.uk/apr.h...

GM (General Motors) is just behind with 14.9% (much better than ASDA).

Like all the cards, if you pay your balance in full within 30 days, it is FREE

http://www.financecomparator.co.uk/apr.h...

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Now the choice is yours :)

Answer 5

If you've managed without a credit card until now, why get one?

Some people find the temptaion to use it to great and end up buying more than they can afford to pay off. I use one out of convenience but clear the balance every month to avoid paying interest.

Answer 6

Why don't you perform a quick search on Google?

Try www.moneysupermarket.com.

I can't believe how lazy people are on here.

Answer 7

here are two great credit cards

Blue from American Express®

0% APR for up to 15 Months

As low as 8.99% APR

no annual fee

full detailed explanation of the credit card can be seen here...

http://www.cardlister.com/CreditCards_de...

Citi® Platinum Select® MasterCard®

0% APR for up to 12 Months

As low as 8.49% APR

no annual fee

full detailed explanation of the credit card can be seen here...

http://www.cardlister.com/CreditCards_de...

Answer 8

My guess would be you will get the 56 days only if you were to make your purchases the day after the billing cycle ends.  Those purchases would be billed 30 days later (next billing cycle) and you would have 26 days from the date of the billing cycle to pay.  The problem with this scenario is that the odds are against you making the purchase exactly the next day after the close of the billing cycle unless you actively planned it.  you would probably be closer to 40 or 45 days assuming you bought in the middle of the billing cycle.  Next, you will really not have 26 days to pay, since the bill will come 5 to 7 days after the billing cycle, meaning 18 - 20 days from the date you get the bill.

The APR also is lousy if you plan on using the card and the odds are, with inflation looming, the Fed will raise interest rates and the variable rate will go up.  If you search around, you can do better.