Barclaycard - Less than 20k income?

Toilet-Duck

Hi,

I was thinking about applying for a barclaycard simplicity credit card but noticed that it states you should have a regular income of at least 20k.

Does that mean if I earn say 15k a year I shouldn't apply at all as its a waste of a search?

My credit status is very good no late payments etc.

My brother who lives at the same address, has a card with them with a 55k limit but I'm not sure if this would make any difference?

My outstanding debt is 5k on my cards and available credit is 17k, would this also cause an issue and should I cancel some cards that I no longer use?

Many Thanks
TD

[Deleted User]

your brothers cards have no connection to you,and if it says 20k it means 20k,and with 5k outstandning and 17k avaliable you will probably not get another card anywhere,even if you close the others the best you could hope for would be 2.5k(+5k outstanding = 50% of income)

BugsyBrowne

Toilet-Duck wrote: »

Hi,

I was thinking about applying for a barclaycard simplicity credit card but noticed that it states you should have a regular income of at least 20k.

Does that mean if I earn say 15k a year I shouldn't apply at all as its a waste of a search?

My credit status is very good no late payments etc.

My brother who lives at the same address, has a card with them with a 55k limit but I'm not sure if this would make any difference?

My outstanding debt is 5k on my cards and available credit is 17k, would this also cause an issue and should I cancel some cards that I no longer use?

Many Thanks
TD

I see you say your boyfriend has a credit limit of 55k don't expect that if accepted they will probably give you 10k less than that, and give you 45k.

17k is not alot of available credit, I would apply if I was you..

YorkshireBoy

Toilet-Duck wrote: »

Does that mean if I earn say 15k a year I shouldn't apply at all as its a waste of a search?

I wouldn't bother with the figures you've given for income and debts/available credit.

My credit status is very good no late payments etc.

...but very high available credit in relation to your income. Your repayment history may be good but I'd wager you're not a good prospect for any lender with such a high available credit.

My brother who lives at the same address, has a card with them with a 55k limit but I'm not sure if this would make any difference?

Totally irrelevant.

My outstanding debt is 5k on my cards and available credit is 17k, would this also cause an issue and should I cancel some cards that I no longer use?

Your available is way too high* for a £15K salary. Trim it back a bit, but don't go too far as then you'll appear overly indebted on your existing limits. Aim for no more than £8-10K available.


* NatWest told me recently they're automatically declining applicants whose available credit exceeds 85% of their income.

YorkshireBoy

star-fire wrote: »

I see you say your boyfriend

Where?

17k is not alot of available credit, I would apply if I was you..

With a £15K salary?

BugsyBrowne

YorkshireBoy wrote: »

Where?With a £15K salary?

I was on one of my wind ups..

YorkshireBoy

Toilet-Duck wrote: »

noticed that it states you should have a regular income of at least 20k.

But you didn't notice this...

Excluding a mortgage, your debt on credit cards or store cards is less than 10% of your income

http://www.barclaycard.co.uk/personal-home/cards/platinum-hero/simplicity/index.html (click 'best suited for')

Toilet-Duck

Thanks for your help guess I'll just leave it for now and reduce some of my available credit.

izools

star-fire wrote: »

I see you say your boyfriend has a credit limit of 55k don't expect that if accepted they will probably give you 10k less than that, and give you 45k.

17k is not alot of available credit, I would apply if I was you..

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::beer:

BugsyBrowne

izools wrote: »

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::beer:

lol At least you shared in the laughs,don't think other posters quite see the funny side..

book12

There are some Barclaycards that will accept you for an income of less than £20, such as Barclaycard Initial, Gold, Classic and Breathe.