Credit card while unemployed

helenhrh

Hi, apologies if this is a daft question, have put off posting it for a while. I've happily tarted for a few years and have now come unstuck as I've lost my job. Does anyone know of any credit card lender that will actually accept an unemployed person? I know of Aqua but the APR is huge. I've been refused three times recently and dont want to risk another refusal. Thanks.

mrcow

You're going to struggle getting anything at all tbh.

If you've been tarting for a while, do you have any old cards that are still running? You could always try and negotiating a balance transfer deal with them (your current circumstances won't come into it then).

digitalphase

Just wondered what 3 cards you were declined by?

helenhrh

Thanks for the quick response. I was declined by RBS, Tesco and Easycard.
I have considered approaching existing lenders but expected to be refused as I've used them simply to temporarily dump my debt, not used the card and then moved the balance when the 0% period was up. They must be used to tarts' behaviour! I got such a bad response from Virgin (to whom I owe £3400) when I asked for a little help that it has discouraged me from speaking to other lenders. Still, its worth a try and better than paying £40 per month interest.

Moggles_2

helenhrh wrote: »

I have considered approaching existing lenders but expected to be refused as I've used them simply to temporarily dump my debt, not used the card and then moved the balance when the 0% period was up. They must be used to tarts' behaviour!

We've no evidence that this activity harms your chances, so don't let it hold you back

Still, its worth a try and better than paying £40 per month interest.

Definitely. Admittedly, the best balance transfer deals are usually reserved for new customers, but you don't have to apply for a new card to get new credit. You may be able to cut costs using credit cards you already hold. For tips, see Martin's *Credit Card Shuffle*article.

http://www.moneysavingexpert.com/cards/cut-credit-card-interest

mrcow

helenhrh wrote: »

Thanks for the quick response. I was declined by RBS, Tesco and Easycard.
I have considered approaching existing lenders but expected to be refused as I've used them simply to temporarily dump my debt, not used the card and then moved the balance when the 0% period was up. They must be used to tarts' behaviour! I got such a bad response from Virgin (to whom I owe £3400) when I asked for a little help that it has discouraged me from speaking to other lenders. Still, its worth a try and better than paying £40 per month interest.

tbh we've tarted most companies that I can think of over the years. They'll still get their 3% or whatever bt commission. It's worth a phonecall at least.

jonesMUFCforever

Have you actually closed down some of the previous cards you held?
If not approach them for any offers - if you don't ask you don't get.

helenhrh

Mint had a reasonable offer for a bt, 3.9% for 6 months. Barclaycard actually offered me 0% until Jan 2010; unfortunately my credit limit with them is less than what I want to transfer but it will help. Thanks for the advice.

NickX

helenhrh wrote: »

Mint had a reasonable offer for a bt, 3.9% for 6 months. Barclaycard actually offered me 0% until Jan 2010; unfortunately my credit limit with them is less than what I want to transfer but it will help. Thanks for the advice.

Well transfer as much as you can to Barclaycard at 0% (remember they will only offer the 0% to a maximum of £5000 anyway). Then transfer the rest to Mint at 3.9%.

This should save you some money in the short term and buy you some time to sort another longer term plan of action.

Good Luck.

Degenerate

NickX wrote: »

Well transfer as much as you can to Barclaycard at 0% (remember they will only offer the 0% to a maximum of £5000 anyway).

As I recall, last time I made use of an existing customer offer on my Barclaycard, they did ask me to re-confirm my employment status.

NickX

Degenerate wrote: »

As I recall, last time I made use of an existing customer offer on my Barclaycard, they did ask me to re-confirm my employment status.

Barclaycard have been issuing 0% Credit Card Cheques of late. If the OP was lucky enough to have received any of these, I doubt employment status would come into the equation.