Credit Card for Low Earner?

DazzaMc

Hi. I only work part time and therefore earn about £4000 a year.
I'm also young - 19 - which makes car insurance around £1000.

Therefore I got my parents to take out a 0% credit card to pay it off, and I've been paying them to pay the credit card company.

HOWEVER. The 0% offer runs out soon, and I wondered if there were any decent cards for low earners (I get rejected a lot!) that offer 0% on balance transfers?

Thanks!

Systemaddict_2

Try Capital One. You are most likely to be accpted but may get very low credit limit (usually around £250 - £500). However, they do offer higher credit limit depending on your credit score.

DJ1UK

Try egg aswell - they usually give cards to low earners.

Might be that you are applying for too many cards in a short period of time and thats why you are getting rejected. Maybe wait 6 months and try again.

DJ

Lawnmower_Man

DazzaMc,

I know we are on the credit card post but I know of 2 of my friends children who use the following pay as you drive car insurance from Norwich Union. They also seem to have a good deal until 31 December 2005 for new sign ups.

http://www.norwichunion.com/pay-as-you-drive/is-it-for-me.htm

Regards

LM

ps Just to confirm I have nothing whatsoever to do with NU

Karnam

i have an egg card and it was issued based on my student loan income of 5,000 a year.

DazzaMc

Thanks for all your help

Lawnmower Man - that pay as you go idea sounds fantastic. But I am already insured with norwich union on a different policy until may 2006. Do you think they might let me swap to pay and go before then?

It's just if I wait until may you have to pay for the box I think (£200 - its free until 31st dec 05.)

I only do about 350 miles a month and the first 100 miles insurance are free every month so I can see myself saving quite a bit. How much do they charge per mile?

DazzaMc

please? someone?

tomstickland

The pay as you drive is the thin end of wedge though.

Using the lastest GPS (Global Positioning Satellite) technology we are able to calculate monthly insurance premiums based on how often, when and where you drive, which means that your premiums are based on your own driving habits and not everyone else's.

The GPS technology monitors your journeys, which allows real-time information to be relayed to a central computer. Your premiums are then calculated based on your usage and you'll receive a detailed monthly bill.

DazzaMc

Bump

Anyone got any other suggestions?

Preferably with a 0% intro. offer?

empfun

I'm with Systemaddict on this one, try Capital One, it's the safest bet given your financial position. If you get accepted then you can take a punt for another card later. Keep to this order. Cheers and all the best!