Should I or shouldn't I?

SoniaJM

It's coming to September which is my expensive month - both car and home insurance are due. I normally pay for the year up front in cash from savings, but am not going to be able to this year due to my partner being made redundant and going self employed about 9 months ago - the business is building but not enough yet to have spare cash.

The question is whether I should try and apply for a low interest credit card to pay for them? (I'd cut the card up as soon as I'd used it for the insurances so couldn't be tempted to spend on it.) I don't think my credit rating would be very high unfortunately.

My ex husband had a loan in joint names that he defaulted on twice about 2-3 years ago. Unfortunately it was an informal arrangement between us that meant he was responsible for paying it and not me - officially it was in my name as well. (It's now been paid off in full - we have no financial links any more.) My current partner also has a bad credit history - we've got 1 joint bank account together.

I don't have any loans or cards at the moment - just an overdraft in my own name which I've stuck within the limit of.

Is it worth even trying to apply for a 0% or low % credit card in my name? (And if so any recommendations would be appreciated!) Or should I just bite the bullet and accept I have to pay the insurance company interest for this year?

Any advice would be welcome.

immoral_angeluk

Why not just spread the payments over the year and then start again from fresh next year by buying in full?

curlytop12

hi,
i didn't even know you could pay for insurances with a credit card!
have a look at compare sites for the cheapest renewal and then topcashback or quidco to get more money off(got £30 cashback from house insurance of £180)then see how much it would be to pay them monthly,working them into your budget.try and avoid the credit cards.:)

YorkshireBoy

SoniaJM wrote: »

My ex husband had a loan in joint names that he defaulted on twice about 2-3 years ago...(It's now been paid off in full - we have no financial links any more.)

As verified by your credit report? Or an assumption on your part?

Is it worth even trying to apply for a 0% or low % credit card in my name?

What have you got to lose?

(And if so any recommendations would be appreciated!)

A long 0% on purchases card would seem the best option...

http://www.stoozing.com/purchases.php

SoniaJM

YorkshireBoy wrote: »

As verified by your credit report? Or an assumption on your part?

I guess it's an assumption. The divorce came through in January 2010, the joint mortgage cleared in September 2010 and the joint loan in November 2010. We have no other financial links any more and I've changed my name back to my maiden name. As we're not legally or practically linked any more (I don't even know where he lives now) I assumed he wouldn't have any impact on me any more. At least I hope not. He's horrendous with money - one of the (many) reasons I kicked him out in the first place.

Tixy

You need to check your credit files to see if you are still associated. As your account was closed less than 6years ago then unless one of you has completed the notice of disassociation with all 3 credit reference agencies chances are you still will shown as associated. I would definitely check first and file those notices before applying for credit.