Need a credit card

[Skippy]

I nearly applied for a Vanquis card today but I couldn't click on submit as I have to admit having a credit card still scares me!

[MelanieGiles]

It shouldn't do Skippy - you have done your time and there is nothing wrong with having one for emergencies. I am sure that you would not let yourself get into unaffordable debt again, as your posts are so sensible about budgeting and looking for good deals, but there are times when a credit card is handy - so never say never!

[Skippy]

Thanks Melanie. I've applied and if I get one (I'm not optimistic!) only use it for petrol and pay it off each month so it's building up my credit rating.

They've said they'll be in touch in 10-14 working days so I'll let you know how quickly they say no!

[Skippy]

I've just had a phone call from Vanquis and I've been approved! I've got a credit limit of £250 and an interest rate of 39.9%. I'll be using it for petrol, and paying it off each month!

[MelanieGiles]

Hurrah!! Well done - and the high interest rate is no matter as you will be paying it off each month in any case. This is a shining example of how debt rehabilitation works for most people after time - and with a low and manageable credit limit why not!

[Shining]

I think even with the high interest rate so long as it's paid off each month it's the way forward to helping clear up your credit file.

I know that I never want to be in this position again and will always think twice before spending anything as I do now when I'm finally out of my IVA

[Skippy]

I've learnt my lesson about running up a credit card but it would be handy to try and get my credit rating up as much as possible. I was surprised that I didn't get a higher APR with my credit history!

I've now got a contract mobile, bank account and credit card all reporting to the credit agencies. Don't get me wrong, I'm not thinking I want loans or loads of credit cards again, but a different mobile contract would be nice, and in the future I'll probably need a car loan!

[Shining]

It does open the door to various offers for the future which are credit checked I agree and a sensible approach for the future, I will do the same in a few years time.

[kallis3]

Fantastic news Skippy! Just don't go on a spending spree!!!![:D][:D]

[Skippy]

And even better I'll get £25 cash from Quidco!

[Shining]

Result!

[kallis3]

Even better!

[MRBLUESKY]

skippy how did you get the £25 cash back did you have a promotion code can you recommend a friend i,m considering going for one.

[Shining]

If you go to the Quidco website and go via their links you can get cashback for many things purchased online. I got a bit for getting car insurance and sometimes you'll get a £1 or two just for getting a quote. It's well worth it and always paid out for me.

[MRBLUESKY]

cheers lesley i,ll try that.you learn something every day.