✅In this video i tell you what i think the top 5 BEST UK credit cards are for Beginners. I also tell you what a credit card is and how they work and all about the fees you might incur and how to avoid them.

What is a credit card? – 00:21 – 02:36
A credit card is very similar to a debit card just not linked to a bank account. The money doesn’t automatically come out of your account you have to ‘pay off’ the credit card. However, you can set up a direct debit to do this automatically each month. Make sure to always pay off your card on time so that you don’t incur interest.

Credit score – 02:36 – 03:55
A credit score is a score out of 999 which determines how reliable you are at spending money. When you start you get given a score of around 450, with a credit score less than 500 you will find it difficult to get loans such as car finance or mortgages and the interest rate will be much higher. The best tip is to pay your credit card on time each month to increase your score.

What are the advantages of getting a credit card? – 03:55 – 05:09
A credit card can be used to ‘time’ your spending, if you have an urgent commitment such as car insurance/car repair/holiday, but don’t currently have the money until pay-day, you can pay this with your credit card and then pay it off after pay day. This way, you don’t have to wait weeks to repair your car.

Credit cards are also covered under the Consumer Credit Act which protects you from frauds and scams up to £30,000.

Disadvantages to credit cards – 05:09 – 05:38
Credit cards with a high credit score such as £10,000+ can be very tempting to splurge on something that you cant afford. This can get you in a sticky situation that is very difficult to dig yourself out of the debt.

Top 5 credit cards – 05:38 – 10:02
The top 5 credit cards feature credit cards with no minimum salary, suitable for bad or no credit, bonuses such as cash back or reward points and other features such as interest free periods.

Get a Free Stock worth up to £200 with FreeTrade – https://magic.freetrade.io/join/thomas/c8fb6869

Become a member on Patreon to get access to stock updates, private discord, livestream Q&As and 1-1 direct access to me – https://www.patreon.com/ThomasJamesInvesting

Buy bitcoin using Coinbase here – https://coinbase.com/join/smallb_1u?src=ios-link

Social media
Instagram – ThomasJamesYT – https://instagram.com/thomasjamesyt
TikTok – ThomasJamesYT – https://tiktok.com/@thomasjamesyt
Subscribe for more property related content – https://youtube.com/channel/UCRTndpz_fpcVcoVe0QF1IgA

The information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Thomas MAY have an ownership interest in them — DO NOT make buying or selling decisions based on Thomas’ videos. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, contractor/electrician/engineer/etc. or financial advisor.

This is not an advertisement of property for sale and shall not be construed as anything other than an opinion for entertainment purposes only.

#CreditCards #BestCreditCardsForBeginners #BeginnerCreditCards

We have taken this video from YouTube and posted it on our site and if you are the owner of this video or you have any problem with this video please contact us


Please enter your comment!
Please enter your name here