Give yourself Credit

If youâ ™ve never had a credit card before, give yourself a pat on the back. Much of the UK is now living on credit, so if youâ ™ve managed to avoid it, well done!

However, credit cards nowadays arenâ ™t as scary as they used to be. With a whole range of different packages, thereâ ™s one to suit every type of spender.

So which type are you?

If you want to finally get yourself a credit card, either out of necessity or you just feel the time is right, first of all consider your needs.

If you have existing debt and wish to use a credit card to offset this, donâ ™t. Doing this will only get you in deeper. See a debt counsellor instead.

If you want to have a credit card as an emergency supply of money between paydays, youâ ™re best ensuring you can pay off the balance youâ ™ve spent in full every time you get your wages.

If you intend on buying a large amount of goods over the internet with your credit card, find one with a low interest rate. Again, pay off the balance as soon as you can â “ you may be able to avoid interest charges with 0% credit cards.

If you already have credit cards and want to consolidate them, look for a card with a 0% balance transfer option. It shouldnâ ™t cost you an extra penny to transfer your current balances onto your new card, and just pay off one bill per month instead of trying to juggle several.