credit card advice

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Forums › Finance and wealth management › credit card advice

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shermanp

355 posts

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#777041 8-Mar-2013 18:58

networkn: Let me give you the best advice you will get regarding credit cards.

Don't get one, unless you can pay it off in full every month.

Believe me, I have absolutely no intention of ever getting into debt with a credit card...

My parents brought me up with the teaching "if you can't afford to pay it now, don't buy it".

mattwnz

20141 posts

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#777054 8-Mar-2013 19:22

The biggest thing with credit cards, is to make sure you always pay it off every month in full. Banks don't like this, as they make money by charging big interest rates on it, and often they only fill in the minimum you need to pay off on the form. I just treat it like another bank account, but allows you to have use of someone elses money for a month, while your own savings are making interest.

networkn

Networkn
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#777055 8-Mar-2013 19:23

shermanp:
networkn: Let me give you the best advice you will get regarding credit cards.

Don't get one, unless you can pay it off in full every month.

Believe me, I have absolutely no intention of ever getting into debt with a credit card...

My parents brought me up with the teaching "if you can't afford to pay it now, don't buy it".

To be fair most people who get into serious issues with their CC Company never think they will end up with that situation in the first place.

shermanp

355 posts

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#777060 8-Mar-2013 19:26

networkn:
shermanp:
networkn: Let me give you the best advice you will get regarding credit cards.

Don't get one, unless you can pay it off in full every month.

Believe me, I have absolutely no intention of ever getting into debt with a credit card...

My parents brought me up with the teaching "if you can't afford to pay it now, don't buy it".

To be fair most people who get into serious issues with their CC Company never think they will end up with that situation in the first place.

There is that I suppose...

Hopefully I won't be one of those!

Aaroona

3193 posts

Uber Geek

#777145 8-Mar-2013 22:13

I can seriously recommend gemvisa in this case. I have one.. Only a small limit in comparison to some of the other posters ( I was approved over 2k immediately when I applied) but you can request to have it increased via their website, if you need it.
I generally shy away from credit cards and only got one for times when I'm over in aus etc.

Annual fee of $48 is applicable- not a lot on the greater scheme of things.

55 days interest on all purchases under $250, 6 months interest free on purchases over $250

BuzzLightyear

411 posts

Ultimate Geek

#777173 8-Mar-2013 23:15

tanivula: Not sure if you are an Air NZ airpoints member or not, but I quite like the OneSmart cards and their ability to have multiple currencies on them (essentially a prepay credit card). All the conversion fees are up front and (dont quote me on this) there is not Air NZ fee for withdrawing cash from ATMs which is a bonus - think the small print is that the bank that runs the ATMs overseas might sting you but not AirNZ.

Otherwise for NZ stuff, I use a ANZ plat visa. Did a quick spreadsheet and figured I get more benefit with that rather than an equivalent kiwibank one (was using Kiwi bank go fly gold before).

Guess it really depends how much you use and what loyalty/benefits you want from it. There are plenty of options. We travel fairly regularly so air points is a winner at the mo.

+1 for the OneSmart Card. I travel a lot and favor using this. I also have a Global Plus Platinum which I like because of the number of air points I earn, but the simplicity of being able to manage multiple wallets and no fees if you have foreign currency balances wins it for me. I have also found it really easy to use.

richms

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#777260 9-Mar-2013 09:38

gem visa have hopeless customer service based out of aussie. Its one of the slower cards to process and gives me the most failures on NFC compared to my warehouse mastercard.

Both are horribly slow to update online with purchases. 4 days sometimes. Makes it easy to go over the limit. Both are slow at accepting online payments to the card - not next day like a real bank does.

The thing is info like that is imposible to find from the issuer.

My postshop loaded card gets money faster, updates in real time and the 1 time I have had to use customer service were not rude like gem visa. But its a prepaid card which I hate even more than debit cards.

If you get an interest free deal on a card it usually means you cant keep using it as you get new non interest free charges on it that will not pay off till the older interest free ones are. So if you get the gem visa keep it for $250+ purchases

Richard rich.ms

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