Credit Card newbie - (although hubby has enough for the both of us!!)

ryscar10

Hi All,

Any help appreciated. My husband owes £6000 combined between Barclay card and Virgin. He has just come out of 0% interest deals and now the monthly payments are killing him! He has tried to switch to better deals however been declined. Previous debts from his business which are now paid off have hindered his credit score. I'm willing to take a credit card on to help him clear the debts and also i'm on maternity leave so i can keep on top of the admin/monthly payments better than he can (works away).

My question is where do i even begin? i've purposely not took the time to understand credit cards as always vowed to steer well clear of them, even though iIknow if used correctly can be a good thing! A balance transfer appears to offer a long 0% time period however, do I already need to have a card to do this? I have a car loan myself with natwest which i've never missed a payment with, so hopefully my credit score is good. I have had issues with the local council in not being registered on the e/roll. However this is now sorted. Will my husbands record affect my chances of gaining the finance to help him out?

Many Thanks & best wishes to anyone in the same frustrating boat.

XX

Moggles_2

I have had issues with the local council in not being registered on the e/roll. However this is now sorted.

Have you checked your credit files to make sure your electoral status is recorded correctly at your current address? I'd make this your No.1 priority. For help, see page 1 of the *How to obtain credit reports* sticky.

Moggles_2

Will my husband's record affect my chances of gaining the finance to help him out?

If you share a financial product (eg. mortgage) with someone else, then you are financially linked to them and their affairs could have an effect on your credit rating, but simply being married or occupying the same house as somebody with a poor credit history, has no effect whatsoever.

smartpicture

I did a similar thing for my partner / fiance, opened a 0% card when he couldn't get one and transferred the balance off his outstanding credit cards, so it should be fine so long as they allow you to have one. You can check your credit rating at Experian online before you apply, but as already said your husbands debts have no bearing on this.

P.S. He made 2 or 3 spasmodic payments towards the new cards then we split up and I never saw the rest of the money. Just bear in mind that once you do this, this is no longer his debt, but yours.

Moggles_2

For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide* especially Martin's *Manage and Improve your credit score* article, to make certain there's nothing else working against you

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

Currently, the only BT card application that asks for household income rather than salary is Marks & Spencer. This card offers 0% on balance transfers for 6 months. A 2% BT fee applies.

http://money.marksandspencer.com/cards/credit-card/overview/

ryscar10

Many Thanks for all your replies. Already checked the e/register its now correct and has been for last 2 years (so the council advise!) x

Moggles_2

ryscar10 wrote: »

Already checked the e/register. It's now correct and has been for last 2 years (so the council advise!)

Sorry to labour the point, but have you checked credit files (eg. Experian), to make sure your electoral status is recorded correctly at your current address? I'd make this your No.1 priority. For help, see page 1 of the *How to obtain credit reports* sticky