New here - best credit card for getting £15k

howlin-husky

Hi there, just joined always lurked on here but waned advice. H and i are building an extension we have the money for the build but our circumstances have changed and we cant afford the extras (bathroom, kitchen etc)

we have tried to get £15 put onot our mortgage but hey turned us down, H is teacher, i was a teacher but now doing childminding, not earning the same as before obviously.

was looking into getting loan or credit card - any ideas on where to get money from?

milliemonster

You can always try MBNA, I think they are the most generous with credit limits but not great on giving you decent APR's for long, however, I fear if you have been turned down for this money secured on your home, it may prove difficult to get this amount unsecured, do you know why you were turned down?

exel1966

With a good/excellent credit history you can get a credit limit in the 15 to 30K region with the MBNA range of cards.

howlin-husky

thanks for advice, i was turned down because they thought we did not have enough proof of income

sorry stooooopid questions but what does MBNA mean?

exel1966

MBNA

realaledrinker

Careful - you will be charged anything up to 30% APR by MBNA after your interets free period ends if you can't get another balance transfer or you fall foul of their strict interpretation of late payment fees & conditions.

Can you not postpone the extension until your circumstances improve?

chambta

exel1966 wrote: »

With a good/excellent credit history you can get a credit limit in the 15 to 30K region with the MBNA range of cards.

In this climate I would think those figures are rather ambitious.

exel1966

Not ambitious at all for those with good/excellent credit ratings as a £26K limit on a Virgin application last week showed. Plus MBNA are known for their higher limits.
The better your rating/the lower your risk, the far less likely the credit crunch will impact on you.

howlin-husky

thanks for help, we have decided to save what we can to pay for kitchen and other things without getting credit card. We dont have any credit cards or overdraft and we want that to remain!

we have £55k for extension sfrom savings so thats not the problem so other stuff will just have to wait a few months til i go back to teaching in march