Beginners card credit? Which 1

Kal-EL_5

I have never applied for credit before.

I was just wondering for a first time credit card which is the best to apply for, in terms of getting a reasonable limit.

I'm 22 years old, income of £5kpa

asandwhen

If I were you I really wouldnt bother - worst thing I ever did - if you still want one I would go through your bank.

circuit

with 5k annual income you will probably only get one from capital one, vanquis, aqua or other high risk lenders (unless you are a student). your limit will be very low regardless... and if you are with a lender like capital one, your rate could well be 30%.
i got a card on a very low income too, and as asandwhen says, it is a pretty bad idea. it started a debt spiral for me and i'm still getting out of it. try getting a cheap overdraft instead - it's easier to manage.

dellwear

If you want the protection a CC affords and the other benefits you go for it mate. Just keep it under control and you'll be fine

Kal-EL_5

I am a student but also work part time. However, I want a decent limit at least otherwise it's pointless just going for a card with a £250 or thereabouts limit.

Broke_Student

I am not technically a student. Well technically i am 'nothing' - I don't know. Will probably be declared 'unemployed' after results come out. I just finished college but am taking a gap year before university (when i will officially be a student after a year). But right now i have an anual income of £0 (living off parents). I got rejected for the Morgan Stanley Card but Natwest offered me a credit card on Saturday quite promtly. I was immediately accepted online. I don't know whether it has anything to with the fact that I have had a current account with them with a large balance for quite a few years.

Gemmzie

Try your bank, I earn half what you do and got a limit just above £500 from mine

Kal-EL_5

hhhm

I'll try my bank and also someone like Marbles

If i tell the CC company that i'm earning a little more than i really am, just slightly tweak the figures, do they have any way of checking.

Can they check my bank account?

vwman_3

Kal-EL wrote:

hhhm

I'll try my bank and also someone like Marbles

If i tell the CC company that i'm earning a little more than i really am, just slightly tweak the figures, do they have any way of checking.

Can they check my bank account?

When it comes down to finance tell the truth, or it will come back and bite you in the a**e..........

circuit

what do you want the card for?

(ps. i definitely would not recommend lying on a credit card application)

Kal-EL_5

Hi mate,

If im being honest, and i'll probably get a lot of criticism for it...it's not for financial reasons at all.

I have a bet with a friend who is in the same position as me, and he has managed to obtain a £2200 limit with Amex. Now, I'm assuming he's either lied grossly on his app form or he got lucky.

Basically, i had a bet with him that i can get a limit just as high if not higher