Credit Card for low-earner

c50cnameless

Hi,

I'm a long time mailing list member, mainly out of interest, as I have only just turned 18 (and been in the position to put it into practice). I signed up for a Morgan and Standly Card (the one recommended by Martin). However they have rejected me based on my low earnings, So I need a card company that will accept me with earning 4000 a year (I'm a part time student, part time volunter worker, and so don't earn a lot). Could anyone suggest one?

Thanks for your help.

Magentasue

What do you intend using the card for? Would a debit card do instead?

grumbler

Magentasue wrote:

What do you intend using the card for? Would a debit card do instead?

As it was Morgan Stanley, I guess c50cnameless wants cashback ...;)

C50cnameless, income is important, but there are other even more important factors. At least you should have some credit history. You can build some history with other cards. Start with the bank you have account with or with some card for 'beginners': credit card for no credit history . If you pay balance in full interest rate is irrelevant. Vanquis card has annual fee though ...

c50cnameless

I signed up for credit card for two reasons:

a) Cashback (any free money is good)
b) Protection (when buying online a debit card offers less protection than a Credit Card)

As to the other post, I have signed up with my bank for a Credit Card as well (Nationwide) however, its a measly 0.5% cashback and then in 6 months a 0.25%.

However Morgan and Standly sent a letter that specifically stated that it was my lack of earnings NOT by lack of credit history that denied my application.

My bank approved my straight away (well their computer did, online application, automatically gave me 1000 pound credit limit, so I suppose history is important?)

Karnam

egg accepted me when i placed 5,000 (my student loan) as my income. its a low limit but its good enough for me.

KTF

Doesnt Mint have less strict criteria as well?