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  • FIRST POST
    • slenderkitten
    • By slenderkitten 2nd Jul 17, 9:39 AM
    • 899Posts
    • 186Thanks
    slenderkitten
    Credit card vs loans or another way of getting money.
    • #1
    • 2nd Jul 17, 9:39 AM
    Credit card vs loans or another way of getting money. 2nd Jul 17 at 9:39 AM
    I am in need of a small loan.

    Old creditors did a search a few months ago (would this go against me if I apply to my bank) to find me at my current address I've not contacted them. No default shows as they expired years ago.

    I need to move out of my current location urgently I'm looking no more than £500. It's more living and moving costs as the 1St months rent deposit is going to eat up most of my salary this month.

    What options are open to me to get a loan or credit card are the payday loans any good I don't know much about them or is there any alternatives or gramts
    My Signature is MY OWN!!
Page 2
    • DCFC79
    • By DCFC79 2nd Jul 17, 4:01 PM
    • 30,268 Posts
    • 19,148 Thanks
    DCFC79
    It's not just landlord it's the people that move here they are mostly foreign. As I said I don't wish to continue.
    Originally posted by slenderkitten
    It still won't affect you.

    Not being on the electoral roll might be an issue for lenders, credit card companies, some will turn you away and others will be a more lengthy process.

    An overdraft might work, an overdraft is like a loan, you pay x amount each month but it can be recalled at any time.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • BrassicWoman
    • By BrassicWoman 2nd Jul 17, 8:08 PM
    • 1,360 Posts
    • 5,722 Thanks
    BrassicWoman
    Depending in why you need to move (if it is need, not want) then
    - women's aid may help if it's due to domsetic violence
    - Shelter may have some ideas
    - the council may have a bond guarantee scheme which means you don't need a deposit
    Downsized and mortgage free
    Nov17 grocery challenge £133.10/£150
    • SparklesJD
    • By SparklesJD 2nd Jul 17, 8:28 PM
    • 76 Posts
    • 111 Thanks
    SparklesJD
    You might want to see if your local credit union could help - they're often more likely to lend small amounts and would be much cheaper than a payday loan - find those that you would be eligible to join at www.findyourcreditunion.co.uk

    They're not-for-profit financial co-ops, the money that they lend comes from other members' savings, it is important that you repay according to the agreement.

    They will likely carry out a credit search and will need details of your income and expenditure.
    Worker in, and passionate advocate of, the credit union movement. I don't speak for the sector or for any individual CU. My opinions & experiences are my own.

    Search MSE for more info about CUs and find ones that cover your area by searching online for 'find your credit union'.
    • Candyapple
    • By Candyapple 4th Jul 17, 10:45 AM
    • 2,472 Posts
    • 1,848 Thanks
    Candyapple
    Thanks for your reply I don't know how overdraught works is this an alternative avenue?

    I don't want to put myself on voters role in case someone else does fraud at this property it's shared accommodation and the landlord hasn't declare some tenants living here this us why I want to leave. I do t want to associate myself with this idiot or the address.

    As I said my phone contract which is obviously classed as a credit agreement and obviously my current account records link me here so it's not like there is nothing on my credit file just I have no credit cards etc
    Originally posted by slenderkitten
    If you only have your bank account and a phone contract showing on your files and not being on the electoral roll you are limited basically to the mercy of your bank for an overdraft or payday lenders.

    £500 is a small sum, just log onto your online banking and apply for an overdraft. If you want to know how much it will cost you, Google your bank's name and the words 'overdraft fees' after it. There's your solution.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • heartbreak_star
    • By heartbreak_star 4th Jul 17, 11:42 AM
    • 7,611 Posts
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    heartbreak_star
    No I've never been on it because I have not voted or 20 years they are all the same party to me.
    Originally posted by slenderkitten
    This annoys me, I'm afraid.

    Do your research. Use your vote. If you don't vote, you can't complain I'm afraid.

    On a different note - definitely approach your bank and talk to them about your options. In the long run, £500 isn't that much so they might sort a temporary overdraft

    HBS x
    I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another.

    #JC4PM
    • slenderkitten
    • By slenderkitten 5th Jul 17, 6:50 PM
    • 899 Posts
    • 186 Thanks
    slenderkitten
    People still complain even if they do vote so makes no difference they are liars to me so makes no difference. i got £500 overdraft but no sure it'll use it for what I wanted it for. I am tempted by a credit card to build up some credit history how long after should I apply for one?
    My Signature is MY OWN!!
    • zx81
    • By zx81 5th Jul 17, 6:53 PM
    • 14,046 Posts
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    zx81
    How long after what?
    • slenderkitten
    • By slenderkitten 5th Jul 17, 7:31 PM
    • 899 Posts
    • 186 Thanks
    slenderkitten
    How long after getting overdraft only got it yesterday
    My Signature is MY OWN!!
    • zx81
    • By zx81 5th Jul 17, 7:35 PM
    • 14,046 Posts
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    zx81
    I'd try today.
    • slenderkitten
    • By slenderkitten 5th Jul 17, 9:05 PM
    • 899 Posts
    • 186 Thanks
    slenderkitten
    Are there any good ones out there I should apply for? I do t know much about today's credit cards as it was 15 years ago since I last had one. What should I be looking out for today?
    My Signature is MY OWN!!
    • zx81
    • By zx81 5th Jul 17, 9:07 PM
    • 14,046 Posts
    • 14,738 Thanks
    zx81
    Sub prime.

    Aqua, Vanquis, Cap One.
    • slenderkitten
    • By slenderkitten 6th Jul 17, 7:49 AM
    • 899 Posts
    • 186 Thanks
    slenderkitten
    What is subprime never heard of it? Is it safe to apply for any credit card so soon after getting overdraft
    Last edited by slenderkitten; 06-07-2017 at 8:45 PM.
    My Signature is MY OWN!!
    • heartbreak_star
    • By heartbreak_star 6th Jul 17, 8:10 AM
    • 7,611 Posts
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    heartbreak_star
    Subprime is for people who, for whatever reason, are not ideal customers for credit - in your case, not much credit history and not on the electoral role. Both are considered risks to lenders.

    (And I meant if you don't vote you have no right to complain.)

    HBS x
    I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another.

    #JC4PM
    • heartbreak_star
    • By heartbreak_star 6th Jul 17, 8:11 AM
    • 7,611 Posts
    • 16,788 Thanks
    heartbreak_star
    i got £500 overdraft but no sure it'll use it for what I wanted it for.
    Originally posted by slenderkitten
    What else are you going to use it for?

    HBS x
    I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another.

    #JC4PM
    • slenderkitten
    • By slenderkitten 6th Jul 17, 8:47 PM
    • 899 Posts
    • 186 Thanks
    slenderkitten
    What product is subprime card?

    I wanted it for moving costs but I would be out of pocket again next month I don't sent to get into that trap so not going to do it.

    But just wanted extra credit in place in case I need it.

    Any suggestions for cards for me to apply for?
    My Signature is MY OWN!!
    • zx81
    • By zx81 6th Jul 17, 9:11 PM
    • 14,046 Posts
    • 14,738 Thanks
    zx81
    See post 31.
    • slenderkitten
    • By slenderkitten 7th Jul 17, 8:28 PM
    • 899 Posts
    • 186 Thanks
    slenderkitten
    I'm on my mobile it does not show post numbers?
    My Signature is MY OWN!!
    • DCFC79
    • By DCFC79 7th Jul 17, 8:46 PM
    • 30,268 Posts
    • 19,148 Thanks
    DCFC79
    I'm on my mobile it does not show post numbers?
    Originally posted by slenderkitten
    The post by ZX81, Aqua is a sub prime card.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
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