Credit card query

Aruffell

Aruffell

Aruffell

Soldato
Joined
29 Dec 2004
Posts
5,653
Location
Chatham, Kent
Basically to cut a long story short, i want a credit card (mainly for emergency's.

I have just been turned down by that competitor who are named after the rainforest and their deal with halifax.

Was just turned down for a Halifax One card too.

I have a part time job at The Link and am earning about £4k a year without bonuses.

I'm also claiming Job Seekers Allowance (yes i am allowed to as i'm working less than 16 hours a week).

Why am i being turned down?

I have had a mobile phone contract since August and i only turned 18 in July and got that no trouble, but getting a credit card seems to be a lot harder to get.

How can i build my credit rating up so i actually have a chance of getting a credit card?

Thanks,

Andy
 
Who is your bank, Halifax? Your bank are most of the time the ones that'll be able to help you (in cases where you've been refused).


However, I would have to advise to resist and not to bother getting one in your situation. Maybe an overdraft would be a better idea?
As much as you think you can control spending on it, it's far too easy to build up a lot of credit on it, and then be stuck with the repayments for a long time.

Credit cards themselves are not a bad thing, but wait until you're eanrning enough that you can afford to pay off the whole balance with not much effort (i.e. a months wages for instance).
 
what sort of limit are you after ? A few hundred ? I imagine they are wary of giving you anything because you could struggle to pay it back. I am now wondering what kind of emergencies require a credit card. Yes they are useful if you want to book accomodation etc over the phone/internet but there are other ways of doing that. Perhaps ask for a £200 limit or something and see if they will budge
 
ok best people to use would be Capital One, there wil lgive one of their 'Premier' cards to almost anyone. The interest rate will be high, but if its for emergency use only and you pay the bill each month then they are good for getting some sort of credit rating back.
 
head over to www.moneysavingexpert.com and have a look in the credit card section.

Credit cards are normally given on a rate to risk context. I.e your ability to repay and not be a bad debt.

You may need to get a card with a high APR and show you can borrow and pay back. This will improve your credit score.

Applying for too much credit in a short space affects this score.
 
I plan to be doing a little bit of travelling so it will mainly be used for that.

A few other things i get every month i have to use my dad's card because they only accept credit cards.

My bank only give credit cards (natwest) if you are earning over £10k a year it seems :(

Andy
 
I've never in my life seen any retailer who only lets you buy stuff with credit (and not debit) cards. Who does this?
 
Slime101 said:
Basically you dont earn enough, increase your income or you wont get one.
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Not true...Capital one will give cards to low income earners and people with CCJ's as well as other 'Bad' Debit.

and I am not affiliated with them in anyway at all.
 
Slime101 said:
Basically you dont earn enough, increase your income or you wont get one.
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Then how come I got one with HSBC 3 years ago when I was earning absolutely nothing?
 
Lagz said:
I've never in my life seen any retailer who only lets you buy stuff with credit (and not debit) cards. Who does this?
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I use a newsgroup service, only accept them, i only have a maestro card.
 
Admittedly it was a long long time ago, but Egg gave me a credit card when I was 18, still at school and earning approximately £100 per month.

It may well have been down to the fact that I'm pretty sure that my folks have a good credit rating, which plays a factor unless you specifically request it not to with a credit rating agency.
 
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Looking at Capital One now and it says the best card for me is Classic Visa Card.

Was really after something with 0% on purchases for a little while.

Any ideas?

Andy
 
Aruffell said:
Looking at Capital One now and it says the best card for me is Classic Visa Card.

Was really after something with 0% on purchases for a little while.

Any ideas?

Andy
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To be honest you will only get those sorts of card and deals if you are earning more and have a good credit record. The best thing to do is to get a card and pay it off every month this will start to build a good credit record for you.
 
Mr Man said:
To be honest you will only get those sorts of card and deals if you are earning more and have a good credit record. The best thing to do is to get a card and pay it off every month this will start to build a good credit record for you.
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So i should go for the Capital One Classic Visa card then?

Andy
 
Slime101 said:
3 years ago - its getting harder and harder now to get a GOOD credit card on low income.
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Fair enough, I'll take your word for it. Just seems a bit unlikely for all credit cards though.
 
got my first credit card from barkleys at college, they gave me a free blow up chair


glad I did it, but I should move to another co
 
The capital one card might be your best bet, they'll give the high rate/low limit cards to most people and they are a good way to build up your credit rating.

I've never had a problem with capital one either (I've got a no-hassle platinum card), definitely a nice company to deal with IME.
 
Haly said:
Fair enough, I'll take your word for it. Just seems a bit unlikely for all credit cards though.
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Who said all cards??

There is always a way....but if you want the good deals, the 0% the low interest rates and the high credit limits you need a decent income and a good rating.

Yes, people earning next to nothing and those with CCJ's etc can get cards, but why would you want one that was 28% interest and rubbish like that, its not worth having one unless its a goodun, they only serve to make those in a bad situation worse off!
 
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