Applying for credit being disabled.

Sly294

Hi all,

My question is, When applying for credit what is best to put for occupation ?

I just dont think "unemployed" suits me nor does "Retired".
As i feel that putting "unemployed" on Loans and/or credit card application forms is having a negative on my app.

A disabled person can get a decent income if you factor in no outgoing for rent and car (if on High Rate Mobility as i am).
My actual saving (money that is saved after all bill's and Direct debits are paid) is around 350-500 on a very strict budget per month.

pavmas

I know you wont like this but the fact you are on high rate dla and have a motability car, i am assuming that you have been awarded as indefinate.

Credit card issuers will see you as retired (incomes are similar) you will be able to get a capital 1 progress card or argos card, even if you phone them up and do the application on phone they will put down retired.

I have avoided credit as I am in the same boat due to an accident i lost my company was robbed by the bank disabilty insurance that cost me a £100 a month, so went bankrupt, I had a post office account and paid cash and had a paypal account with prepaid credit card till 1 year ago.

i took out a littlewoods account 12 months ago and now my credit limit is £1400 i owe £300. and 5 months ago I opened a bank account and 4 months ago i got a cap1 cc with a £300 limit, I opened up a very account as they are cheaper and you pay interest free over 3 months. I have a £750 limit with them

Now here is where I get the real benefit, using the Credit Card I do my online shopping from 3 supermarkets and take the deals from each, milk maybe on offer in one potatoes in another etc, i am saving approx £30 per week on food and petrol money.

I pay the credit card off every month without fail and always pay more with the catolouge.

If I now have an emergency I can get a washing machine etc from littlewoods and I leave my benefit till the end of the month and pay off the credit card, but if an unforseen emergency happened I could pay the min on the credit card for that month and pay it off the next and use my money for the emergency, It has given me peace of mind.
The whole reason for opening the bank account was so I could take out one of these over 50 insurance polices, I only have to live another 20 months then they pay out so im over the moon, If you are disabled and have a spouse you should think of this as I have heard some nightmares suffered by widows with undertakers asking for £2000 up front when the burial benefit from the social is only Approx £1,700

I hope this helps you.

BLT_2

Sly294 wrote: »

Hi all,

My question is, When applying for credit what is best to put for occupation ?

I just dont think "unemployed" suits me nor does "Retired".
As i feel that putting "unemployed" on Loans and/or credit card application forms is having a negative on my app.

A disabled person can get a decent income if you factor in no outgoing for rent and car (if on High Rate Mobility as i am).
My actual saving (money that is saved after all bill's and Direct debits are paid) is around 350-500 on a very strict budget per month.

I'd avoid mentioning you can save 500 pounds a month on disability allowances, if the Tories read this thread you can expect future cuts of 501 pounds a month :rotfl: They are totally against the lower class being able to actually eat 7 days a week

DX2

pavmas wrote: »

I know you wont like this but the fact you are on high rate dla and have a motability car, i am assuming that you have been awarded as indefinate.

What a huge assumption. :rotfl:

Oldernotwiser

BLT wrote: »

I'd avoid mentioning you can save 500 pounds a month on disability allowances, if the Tories read this thread you can expect future cuts of 501 pounds a month :rotfl: They are totally against the lower class being able to actually eat 7 days a week

Why would you equate being disabled with being "lower class"? Illness and disability can strike anywhere.

harveybobbles

Occupation: House Wife, House Husband, Home Maker? Thats what my OH used.

Sly294

pavmas wrote: »

I know you wont like this but the fact you are on high rate dla and have a motability car, i am assuming that you have been awarded as indefinate.

Thanks for your reply
I certainly would still have a problem writing down "retired" as i am only 33 years old. But yes i am indefinite for Mobility high rate, As i am awaiting a hip replacement, And also have Osteoarthrites in hip and lower back.... And all at the tender age of 33, Lucky me!!

Well before the violins come out, My point is that ...
"Unemployed" does not suit me as i get more then an unemployed person, And nor does "retired", Because the way i see retired assuming the eyes of creditors etc.. They will look at it that a retired person is older and also a credit risk due to age and percentage maybe ill ??.
So given that would i not be better to put down, "Self-Employed" and add in the fact my housing is paid in the question what is your annual income ? (example ... income 10k rent = 12k, Annual income = 22k..example!!!)
I could be way off as i have no idea about credit and what creditors look for, So please if anyone out there knows about this stuff please let me know.
Before my "very strict bugdet" i was terrible with money and had late payments left, right and center, So i know those things affected my credit.
But i am still in the process of fixing it, I guess that the £2700 i owe should all be paid back by March 2011. (was more!).

Also thanks "pavmas" .. Your post has given me a few ideas on how to use my credit cards to better serve me, While still paying in full at the end of the month.
Also im all for saving on shopping, whom do you use and do you use vouchers to exempt the delivery charges ?

Thanks again for reply's.

BLT_2

Oldernotwiser wrote: »

Why would you equate being disabled with being "lower class"? Illness and disability can strike anywhere.

Jeez people are sensitive on this board. I was talking income wise, the Tories consider anyone who doesn't have a figure in 6 figures as lower class

dmg24

BLT wrote: »

Jeez people are sensitive on this board. I was talking income wise, the Tories consider anyone who doesn't have a figure in 6 figures as lower class

Class is about standards, not income.

shegar

Sly294 wrote: »

Hi all,

My question is, When applying for credit what is best to put for occupation ?

I just dont think "unemployed" suits me nor does "Retired".
As i feel that putting "unemployed" on Loans and/or credit card application forms is having a negative on my app.

A disabled person can get a decent income if you factor in no outgoing for rent and car (if on High Rate Mobility as i am).
My actual saving (money that is saved after all bill's and Direct debits are paid) is around 350-500 on a very strict budget per month.

I would have thought that if you can save between £350 to £500 per month then it really wouldnt take you long to save for what you want, instead of borrowing and ending up paying high APR rates.... plus you wont have to reveal your personel details to loan companies of your profession ..........

If you save say £400 per month thats £4.800.00 in a year.... but it depends how quick you want the item and how much you need to borrow.........:)

[Deleted User]

if the application doesnt have a "on disability benefits" or simlar then tele the lender to clarify,strange as it sounds many lenders have a positive outlook on people on dla etc and it shouldnt be an obstacle to obtaining credit if everything else is equal i.e your credit rating /history.Ive opened several cc while being on benefits and had several loans(at high street rates).
The only ones to turn me down was argos but a 2 min tele call soon put them tight and they accepted me.