Loans help!!!

sophia2010

Hiya i am looking at getting a loan of 1,800. I am 18 years ols and currentley on an appretiship earning 115 a week. I already have a credit card with 1,000 owed which is why i want this loan. I have tried all banks supermarket and no one will seem to accept me. I have never missed a payment on my credit card i am just woundering if i am able to get a student loan or if there are any other safe companies i can go with.

Please help

jonesMUFCforever

You won't qualify for a student loan at most banks unless the apprenticeship leads to an honours degree qualification in the end.
You already owe £1000 do you think borrowing to repay it solves all of your problems? It does not - stop spending on the card now (cut the card up) and start repaying all you can afford each month.

Tixy

Hi sophia

As your income is very low and given your age you will probably find it hard to get any more credit. How many cards/loans have you applied for recently? Each time you apply it records a search on your credit file. Each application makes your situation look slightly worse as it looks like you are desperate for credit.
People are usually advised to make no more than 3 applications for any credit product in any 6months.

I would suggest you wait 6months, try to pay as much off your card as you can in those 6months, to bring you well below your limit. After that, if you still think you need more credit you could try another application (not lots though). If your bank current account has been well run then your bank are sometimes more likely to lend to you as they have seen how you operate your account.

What do you want the loan for? Did you intend to pay off the credit card? What about the other £1800?