Update: The Dorothy Perkins Mastercard is no longer available as it has been discontinued. However, this information has been kept for reference.
Information correct as of 26/04/21
There are thousands of people who use The Dorothy Perkins Mastercard on a daily basis, in order to pay for their purchases, such as meals out, clothes, jewellery and other day to day expenses.
You can carry credit cards around much easier cash, they are also extremely easy to use and they are accepted in most shops, regardless of where in the world you may be.
If you are caught up in an emergency, they are also handy for this purpose, especially if you are low on funds.
A typical emergency may include paying for the breakdown of a vehicle, where you don’t have the cash readily available, and you need to get someone out to help.
What is the Dorothy Perkins Mastercard?
Dorothy Perkins is a retail chain in the UK.
They offered a credit card to customers which also includes various reward vouchers. Cardholders can benefit from various in-store discounts as well as loyalty points.
The Dorothy Perkins credit card was issued by NewDay Ltd.
Credit Card Tips
Throughout this article, we will look at the following aspects:
- Some positive reasons why a credit card may not be your best choice
- The good and bad points of owning a credit card
- Alternatives to credit cards that you may want to consider
- Information on managing your credit card, if you decide that this is the best option for you.
Trying to budget
There are many younger people who are leaving education and ready to make a start on their career. They also want to start their working life by being independent too. They want to stand on their own feet, financially and with all other aspects of their life.
The salary they get will, therefore, need to cover:
- The cost of renting a home
- Taking care of council tax payments
- Owning and running a car
- Other bills, as required, such as mobile phone etc.
It could be tempting to take out the Dorothy Perkins Mastercard to cover some of these essential payments. Just remember that bills are not just due to be paid once, they require regular payments.
The chance to overspend
If you know that you have problems managing your finances and you believe there is a risk that you could overspend, then taking out a credit card may worsen that habit.
Does your salary cover the credit card balance?
We will look at this in a lot more detail, but one of the best ways to improve your credit score with a credit card, is to use your card for some of your payments, but to make sure you always clear the balance each month by paying of the balance.
This is only really possible if you are in a financial position which allows you to clear off your credit card bill every month from your salary.
Paying the interest on your Dorothy Perkins Mastercard
It is important to remember that if you are not able to clear your Dorothy Perkins Mastercard balance in full each month, you will end up with interest payments, which can easily stack up.
How to manage your Dorothy Perkins Mastercard and save yourself from getting into debt
The main reason for getting a credit card like the Dorothy Perkins Mastercard would usually be to build up your credit score, and it should be the reason, as this is an important element of securing loans and getting access to better credit rates. It will give you more motivation to be mindful of how you manage your credit card.
Your credit score will generally be made up of a number of factors, including your credit history, or not having any credit history.
If you have a good credit score, you will be in a better position to secure credit to enable you to buy a home or a new car, or to furnish your house. It may also give you a better chance of a once in a lifetime expensive holiday abroad. However, it is worth noting that to do this, it will take time and you will need to be good at managing your credit card, to be able to achieve this.
Let’s have a closer look at the rules and guidelines which you should follow to enable you to manage your credit card better and to prevent you from facing debt issues.
- Avoid having more than one credit card in your name.
- Always pay off your Dorothy Perkins Mastercard balance when it is due each month. This will allow you to build a good credit history more quickly. It is also a better representation to future lenders that you can manage your money effectively, and pay on time.
- Don’t get drawn into free offers and rewards.
- Don’t spend the maximum amount on your Dorothy Perkins Mastercard, just for the sake of it.
Other options instead of the Dorothy Perkins Mastercard
If you have decided that you probably shouldn’t go with the credit card, you may be interested in the other options that are available.
One other alternative you may be interested in, is a ‘prepaid credit card’. A prepaid card can support you with building up a solid credit score and this will show potential future lenders that are able to handle your money responsibly.
Prepaid credit cards – what you need to know
Prepaid cards are simply credit cards that have been pre-loaded with funds to spend. They can be used anywhere that accepts regular credit cards, so you don’t have to worry that you will only have limited places where you can use them.
The advantages of these cards are that:
- They can help you build a good credit score
- No chance of going over any limit, so you can keep within your budget
- Easier than carrying cash around
- Safer than carrying cash
- You can keep track of your spending easily
In addition, if you are a bit nervous about giving out your credit card number when making online purchases, then using a prepaid card can provide you with extra security.
Using a debit card
A debit card is something that pretty much everyone with a bank account owns. A debit card is linked to your bank account and you can only use your debit card to spend what money is available in your everyday bank account.
You can use a debit card pretty much everywhere that credit cards are accepted. You can also get a prepaid debit card that works in the same way as a prepaid credit card. These can also be a handy way to teach teenagers about spending, budgeting and finance.
Are there other ways to build your credit score?
Although you may be told otherwise, it is entirely possible to live without a credit card. Nowadays, we live in a world where electronic payments are part of our day to day behaviour, and most places will accept electronic payments. It is not always necessary to use a credit card for your purchases, there are other options.
See what clients who have used it firsthand had to say. To understand how other customers rated their experience with the Dorothy Perkins Credit Card, read through reviews here.
Information correct as of 14/06/21 (Trustpilot)