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Credit card application
egyptiancotton
Posts: 525 Forumite
in Credit cards
Not sure if this was the right section to post in...
I'm thinking of applying for my first credit card to build up some credit history (I'll be paying it off in full each month etc).
I currently have a car on hire purchase which is being paid off this year.
The loan was originally £7300 but I made a partial early settlement the other day, taking the loan down to £4900.
My current income is £20k. Would you consider the remaining loan on the car to be too high against my income? Should I try to get the remaining amount down some more or is it OK as is?
I'm thinking of applying for my first credit card to build up some credit history (I'll be paying it off in full each month etc).
I currently have a car on hire purchase which is being paid off this year.
The loan was originally £7300 but I made a partial early settlement the other day, taking the loan down to £4900.
My current income is £20k. Would you consider the remaining loan on the car to be too high against my income? Should I try to get the remaining amount down some more or is it OK as is?
0
Comments
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Depends what you actual income / outgoings are but I would imagine you'd have very little problem getting a card from either your bank or one of the starter cards like Capital 1 Classic or Barclaycard Initial.
I would avoid going straight for a prime lender like Tesco because with no history of cards already, they will 99% reject you. Have a starter card for a year and you'll be in business for a better one.
Hope that helps
Regards
Elvis Presley Esquire"We want the finest wines available to humanity, we want them here, and we want them now!"0
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