Wasp needs a credit card

[The_Dover]

Get a prezzie card!

It works like a prepay phone card. You load it with credit from your regular account, and then spend that money online as if it is a Visa.

No mess, no fuss.

those things are for poor people with a bad credit rating.

I'm poor with a good credit rating.

Plus you can only buy between 20 and 500 bucks. Those mail order bitches are more expensive than that and I got feeling that's what Wasp wants to order from russia (with love).

[James Deuce]

ive got one. i went with westpac [joint card, share with dad]

ill keep the card, as it has come in handy when my eftpos has declined, or for making purchases online. but i keep a tight restriction of what i use it for, and how much.

Stick it in a plastic container full of water and then stick it in the freezer. You have to REALLY need to use the card to chip it out of a bigblock of ice.

[judecatmad]

I ONLY need a credit card for buying things in places where im not, i.e. booking flights online, buying stuff from wreckers (hopefully not this one) and other stuff.

I currently bank with psis, they offer some sort of credit line solution but i dont think its suitable http://www.psis.co.nz/InternetBanking/nt/creditline.asp

This one looks like a good one to me http://www.westpac.co.nz/olcontent/o...est+MasterCard

Basically if you have any advice on how a credit card works, what not to do, what to do (i hear its good to get a credit rating by letting something earn interest?) etc etc.

Cheers,

Post Shop have a cool thing going at the mo (not sure if it's just an Xmas promo tho) - it's a card which is accepted wherever Visa is accepted, but you load it up with funds before you spend on it. You might want to check that out - less hassle than a credit card application where you have to provide a million and one bits of evidence to support your application!

Sounds pretty good to me especially since it's a debit card not a credit card. And no annual fees!

If you're not going to pay your balance off each month (BAD, BAD, BAD!!!) then go for a low interest rate card (Westpac/ANZ/BNZ/ASB/Bank Direct all have low interest rate cards). If you are ALWAYS going to pay off your bill then I'd say go for the one with the lowest annual fees or the best rewards points scheme. Also, keep your credit limit low if you're an impulse spender - don't let the provider keep putting up your limit. And if you ARE an impulse spender, leave the card at home! If you see something you'd like, by the time you go home to get the card you'll have had time to think about whether you REALLY need to buy the thing or not.

I wish bank cards over here would work the way they do back home - I used to have a cashpoint card which was also a cheque guarantee card (redundant over here, I know) and was also able to be used for Visa purchases so long as there was enough money in my bank account to cover the purchase. Made life really easy

[Dilligaf]

Yeah I'm with MDU. I now get free stuff for spending things that I would have anyway. All my bills get paid directly so I have a once a month bill - AMEX and money is sitting in my account to pay it on the due date. So all my groceries, fuel, bills which I would have been paying cash for, now earn me reward points - money for nothing peope
But as everyone else has said, you need to be disciplined enough to pay it off every month - amex you have to anyway...

[MrMelon]

Credit cards are sweet. I've got one thru asb and they've set it up so the full balance is automatically paid off each month. I don't think I've ever paid any interest on it in the 5 years I've had it. Just use it like you'd normally use an eftpos card and don't buy shit you wouldn't otherwise be able to afford. Easy.

You get reward points on it too which can be pretty handy. I usually get a couple of hundy worth of fuel vouchers out of it a year for just using it.

[Freakshow]

Stick it in a plastic container full of water and then stick it in the freezer. You have to REALLY need to use the card to chip it out of a bigblock of ice.

Now that is a clever Idea..

make sure you wrap it and don't memorise the number as online no matter where it is the number and exp date will still work.

[crazybigal]

be careful with westpac! my mrs works for westpac, their fees are the worst and they are a crap outfit!

I ONLY need a credit card for buying things in places where im not, i.e. booking flights online, buying stuff from wreckers (hopefully not this one) and other stuff.

I currently bank with psis, they offer some sort of credit line solution but i dont think its suitable http://www.psis.co.nz/InternetBanking/nt/creditline.asp

This one looks like a good one to me http://www.westpac.co.nz/olcontent/o...est+MasterCard

Basically if you have any advice on how a credit card works, what not to do, what to do (i hear its good to get a credit rating by letting something earn interest?) etc etc.

Cheers,

[Hoon]

Yep I use my VISA for everything. The only time I use EFTPOS is at places that don't accept credit cards like McDonalds. This saved me $20 a month on EFTPOS fees (and $40/yr worth of reward vouchers) but like others say you have to pay it off every month which I just transfer out of my EFTPOS account as one transaction.

Get a credit card, its so simple these days that banks are practically giving them away.

Just remember to pay it off every month. If you don't you'll fall into the debt trap and when you finally claw your way out you'll be all the wiser.

[bane]

To be honest, its difficult to live without a credit card.
Try booking accomodation/travel/rental cars without one... it can be done, but generally not without inconvenience.

Credit cards allow you to live on the banks money, whilst your own earns interest in the bank - fantastic!

1. pay it off in full in time - I have an automatic payment from a savings account that does this for me - never have to worry when its due etc.

2. dont get sucked in by reward points - go for the card with the lowest annual fee - dont have to care about interest rate as you will always pay it off on time.

3. If you cant trust yourself, request a low limit (~$1000), and cut up any correspondence from the bank asking to increase it.

Personally my limit started at $2k and after 5 years its up to $15k - ive gleefully accepted every credit rise offered

Ive never got into trouble as I dont buy it on the card unless I have the cash in the bank. Then I get the bank to buy the item while I enjoy interest on my own money for 30-50 days.

[rwh]

The interest [on $1001 for one month] will be around $200, not $20.

How does that work? Last I heard, cc interest rates were in the ballpark of 20% per annum, not 20% per month ...

Richard (avoiding doing any visible multiplication)

[rwh]

I can multiply Freakshow, that was unnecessary.

It was kind of useful for the rest of us to see where the $60 figure came from, though.

Richard

[The_Dover]

I thought you were a geek Wasp?

If you were real smart you'd wait until after a beer or two on one of the big wellywood rides. locate one of the rich cunts (they ride poofy italian bikes and drink pissy european beer). sneak a credit card out of one of their wallets (gold good, platinum better, black your on a winner) clone the bastard. have fun. rich people wont even notice unless you're really dumb and overspend at the whorehouse

[crashe]

Wasp - Do NOT get a credit card........

You do NOT need one.

You will be forever in DEBT to a bank

Save your moneyy and buy whatever you need by using CASH.

Again I stress to you.....
DO NOT GET A CREDIT CARD.

[The_Dover]

yeah wasp, just send cash over the internet dude.

[Pathos]

I've got a credit card only for internet/phone transactions.

I just buy something then top the card back up with internet banking on the same day. I don't think visa has made a cent out of me yet.

often I purchase things on behalf of my brothers if they've got the cash.

credit cards are only dangerous in the hands of idiots who don't appreciate the consequences if they are misused. Same goes for finance companies.