What Credit Card should I get for my first one?
Depends what you need it for?
If I were you, I’d have a look at MoneySavingExpert
Just in case of an unexpected bill really/improving credit score. I was thinking Sainsbury’s Bank Dual simply because I do all my shopping there so I think the Nectar pts would make it worth while.
As I understand it, to build your credit score (if there is even such a thing?), get a credit card, spend a little each month and ALWAYS pay it off in full each month.
I would say that your two use cases are inherently contradictory: If you need a card for unexpected bills you’ll want one with a relatively high limit and low interest rate. If you need one to improve your credit score you’ll most likely get a card with a low limit and high rate. Ouch.
So, I’d suggest as a first step looking into why you really want that card. A few reasons I can think of:
- Improve credit score: Check if your score needs improving. Most (all?) credit builder cards have eye wateringly high interest rates and very low credit limits, so will not appeal to anyone who already has a reasonably good “credit score”.
- For unexpected bills: Consider cards with low interest rates and try to get a high limit.
- For cashback/rewards: The rate doesn’t matter as you’ll pay it off in full every month. (If you don’t you are overspending and MUST stop.) Check what cashback/rewards are on offer.
There are probably other reasons why one would want a credit card, so give it a proper think.
I’ve personally always (except for my Amex card), gone for the longest interest free period. I’ve spent thousands over the years, never paid a penny in interest. Currently I have a Virgin Money CC that came with 28 months interest free with 10 months interest free remaining. I’ll pay it off, dump it and find another when the time comes.
One key reason to use a credit card is for Section 75 protection if something goes wrong with your purchase.
Any credit card automatically offers this though.