Thinking about Borrowing?

A credit card can be a good way to get something you want to buy. It's quick and easy, and if you pay your balance off in full every month, it won’t even cost you anything in interest. However, you have to be careful that you don't find yourself in difficulties.

So here's some advice to help you decide if you’re doing the right thing.

The UK Cards Association, UKCA, is a trade body which provides information to all credit card customers as well as developing industry standards and best practices.

It has developed a factsheet which aims to answer customers' questions on credit card re-pricing which you can download here.

What can you do for me?

Barclaycard is a responsible lender. We’ll do everything possible to help you – which also means trying to make sure you can stay on top of things.

That's why we check up on your personal details, such as your credit history, amongst other things. You can find out more about these by clicking How does the application work?

What can I do?

It's up to us to make sure we've checked everything about you within reason. If we do give you a credit card, though, it's up to you to make sure you can manage your money to pay it back.

What do I need to think about?

Before you apply, here are some basic things you need to think about.

What do I want a credit card for?

Thinking about this will help you work out what you actually need.

If you're buying something large, like a car, a loan maybe a better idea. If you need some flexibility in your spending month by month – a credit card is possibly the right choice. If you find you’re relying on it to buy everyday essentials like food, you probably need to get independent financial advice. You'll find some useful links are at the bottom of this page.

How much can I borrow?

Work out how much you need each month to keep yourself comfortable by adding up all your essentials like rent/mortgage, any car loan payments, council tax and other living expenses, then take the total from your monthly income.

What's best for me?

Once you know what you want, have a look through our range of credit cards to see what’s best for you.

Where can I find some more advice?

There’s plenty of independent, free advice about credit cards.

The Financial Services Authority (FSA) can tell you all you want to know at www.moneymadeclear.fsa.gov.uk

You can take the FSA debt test or the Financial Healthcheck to see where you are now.

APACS

APACS, the UK payments association, offers free and impartial guides to credit cards. You can find them at this website - www.choosingandusing.com.

Or you can download the guides here –

• APACS Choosing a credit card guide
• APACS Using a credit card guide
• APACS Understanding your credit card statement

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