Which card do I need?

Hippy123

I need some advice on which type of card to apply for. I need to bridge a gap in my finances until my first months wage as I am a graduate starting a new job. I have been refused an overdraft on my current account due to non-consistent deposits of cash from student cheques and think that applying for a card card is my only option as I need cash ASAP. The problem is I will need to draw cash from this as well as making purchases and I have no idea what my best option is. Please help!!!!!!!!!!

debtfreeeju

Hi,
What's your credit history like - have you ever had a credit card or loan? If you've never had a credit card before then your best bet would probably be approaching your bank and asking if they'll give you one, otherwise maybe a sub-prime card - I don't have any experience of these but I'm sure someone will be able to give you more info.
I'd seriously advise against withdrawing cash on a credit card though, aside from the transaction fee (usually around 2.5% I think), plus the interest is higher on cash than payments made with the card (to give you an idea, mine is 16.9% for purchases and a whopping 27.9% on cash), apparently withdrawing cash on credit cards looks bad on your credit report as it shows you are unable to manage money well (I could be wrong, hopefully someone will correct me if I am!)
Could you ask your new employer for an advance on your first salary payment? Some employers may give you the first payment, or part of it, early in your first month to tide you over; it might be worth asking.

Curt.

Hippy123 wrote: »

...and think that applying for a card card is my only option as I need cash ASAP.

A hippy, applying for a "card card".

How fitting.

Wonders never cease.