Getting a credit card

[getthefooty]

I'm in my early to mid 20s and have never really had a need for a credit card. Soon I'll be going overseas for 6+ months and want to have one as some sort of insurance in case I run out of money while over there. However I have absolutely no idea how to approach it or what sort of card I would need.

I do know that I would want a card that is interest free for an extended period as I could live back at home at my parents upon returning and pay it off pretty quickly if need be. Apart from that though I'm not really sure what I'm getting into. Is it better to just get a loan?

Any help would be much appreciated.

 

[Kynge of Begrem]

Unless you are particularly good with money, I would advise against getting a credit card, they are a recipe for financial disaster.

 

[getthefooty]

Unless you are particularly good with money, I would advise against getting a credit card, they are a recipe for financial disaster.

I'm hoping to not use it at all as I've saved a fair bit, but I just want to have it there as a safety net. Don't want to be in a position where I can't buy a flight home for some reason.

 

[Total Power]

I'm hoping to not use it at all as I've saved a fair bit, but I just want to have it there as a safety net. Don't want to be in a position where I can't buy a flight home for some reason.

When i left Australia for Europe (for studies), i got myself an ANZ low rate credit card. It was a life saver really. I got a job in Switzerland after 6 months and i exhausted all my money and was pretty much counting my pennies. But i had to pay for the apartment and heating and other bills. I ran out of money the month i found my job, but i had to wait 3 weeks for my pay day. CC saved me. I spent about A$800 from my card and paid it back before interest was due. So no loss at all. If you look at the low rate cards in Australia the rate of interest more or less the same as personal loans. So my opinion is get a credit card but dont be stupid with it. Use it only if you really need it cant do without, debt can pile up pretty quickly and you wont even notice it.

 

[Pie eyed]

I'm in my early to mid 20s and have never really had a need for a credit card. Soon I'll be going overseas for 6+ months and want to have one as some sort of insurance in case I run out of money while over there. However I have absolutely no idea how to approach it or what sort of card I would need.

I do know that I would want a card that is interest free for an extended period as I could live back at home at my parents upon returning and pay it off pretty quickly if need be. Apart from that though I'm not really sure what I'm getting into. Is it better to just get a loan?

Any help would be much appreciated.

I seriously laughed a lot.

Yes, Banks and credit agencies do exist for your convenience and do have your best interests at heart..........

 

[Flash of power]

You absolutely should have one for back up, you never know when you are OS what is likely to happen that you might need a couple of grand quickly. Even if you have travel insurance and get sick, you may need $ upfront.

If you don't use it then it won't cost you, but my advice is do not under any circumstances pull out the card to have a good time, leave it with your passport locked in your room safe whenever going out to party.

 

[getthefooty]

Thanks all for advice, picked one which has 0% interest on purchases and balance transfers for 15 months. I'm sure there are conditions and what not attached but that should do the job in case of some sort of emergency.

 

[Flash of power]

Thanks all for advice, picked one which has 0% interest on purchases and balance transfers for 15 months. I'm sure there are conditions and what not attached but that should do the job in case of some sort of emergency.

Sounds good, just keep in mind interest free days and low interest rate only applies to purchases, if you need money and withdraw from an ATM, that is a cash advance and you will pay interest on it from the day you use it, and usually at a greatly inflated rate, probably around 20%.

Enjoy your travels.

 

[getthefooty]

Sounds good, just keep in mind interest free days and low interest rate only applies to purchases, if you need money and withdraw from an ATM, that is a cash advance and you will pay interest on it from the day you use it, and usually at a greatly inflated rate, probably around 20%.

Enjoy your travels.

Yup, was pretty much thinking about using it for flights around Europe, flight home, and other travel expenses.