Pensioner balance transfer...

hiltopuk

My mum has offered to apply for a balance transfer card so I can reduce some card debt. This is great news but I wondered if her age and income might stop any card application? I thought I would ask before we start applying. She is 76 and does have a recently applied for M&S credit card. Yes I have bought her flowers.
Thanks.

izools

Age and income are indeed factors taken into account when credit scoring, as is occupation.

She still has a chance of approval, but the limit given would take into account her current income and her current credit limits - if the creditor she applies to feels she already has enough available credit for someone on her level of income they may decline the application or provide a tiny limit circa #250 to #500.

What would happen if you couldn't afford the debt? She'd be lumbered paying it out of her retirement income.

As nicer offer as it is I still (personally) morally object to such an arrangement. What is preventing you from applying for a balance transfer in your name? If you can't afford your debt you should speak to your creditors about it, rather than making someone else legally liable for it.

Apologies if this comes off harsh, certainly not meant as a judgement on you but just how I feel and how I would handle a similar situation in my life

ironlady2022

I would tend to agree with izools on the moral part but the decision is up to you. Her age is a deciding factor and I guess how much the balance is overall. As she is a Pensioner it may be easier to apply for one as she has a guaranteed income not lke if she was working and she could be out of work for example. I would think she would be given a low limit though.

hiltopuk

Obviously it's only because my current credit rating due to a bad property deal that prevents me from having the card in my own name. Thank you for your tips.