Who has got credit card while on incapacity benefits/unemployed?

chris0147

Hi guys,

I need your urgent help. I'm currently looking for a credit card with limit £500 as I has got massive bills to pay for in each month which I can't be able to manage with my bills while I am on incapacity benefit. I can't afford to pay £1,500 because I am only getting is £108 weekly. I has got to pay the car insurance, broadband, internet server, house rent, money back to my saving and two credit cards which it will cost me around £170 monthly. I know that I can be able to afford it, but I don't have enough money for myself as I have to renew my membership on the internet and I have to pay for other bills as well such as petrol.

It would be much easier if I pay the insurance for the whole year using with two credit cards (£500 each), so I would be able to manage with my bills and have some money in my pocket. If I pay the insurance using with two credit cards, I would have to pay £102 for each month, so that would left me £328 for myself.

I want to ask you what companies did you use when you applied to get credit cards while you are on benefits?

I have already got barclaycard with £500 limit, but I need another credit card with £500 limit so I could pay off the insurance for the whole year which I can be able to cope with my bills and I would only have to pay about £26 on monthly for two credit cards. That would be enough for me to cope with my bills

Any advice would be much appreciate.

Thanks in advance.

fracturedsun

I think you will struggle to get approved for any cards whilst on benefits. Most companies make employment a requirement, but you could try one of the creditbuilding credit cards :- http://www.moneysavingexpert.com/cards/bad-credit-credit-cards?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar#how

The interest on them will be high though.

chanz4

why an internet server ?

Tixy

You mention paying money back to your savings. If you have savings then I would strongly suggest you use those to pay for these type of expenses not take out another credit card. Even if you can get another card its likely to be one with a very high rate of interest which would be many times higher than what your savings are earning you.

If your outgoings each month are more than your income then taking on more debt will only help you this month, and you'll be in the same positon next month when you can't afford all your outgoings. I'd suggest you check you are getting all the benefits you are entitled to (are you getting housing benefit? council tax benefit?) and have a look through your outgoings to see what you could get rid of or cancel.

boogiemaster

Vanquis gave me their credit card and I'm on income support but remember to give them your direct debit details or they turn you down

They gave me a £250 limit but I do have a default on my credit file but have no late or missed payments.

chris0147

Yep, I got to paying back to my savings because I has brought a second hands car which is worth £2,450. All of my money on my savings has nearly runs out, so I got to put it back. As for getting credit cards, I have no doubt to get one and pay on each month. It would help me out and I would have enough money for myself, but the interest doesn't really bother me as long as I could be able to afford the bills. I got told by my revelent that the credit cards is cheaper way to pay the bills rather than getting one from the loans or debit?

if that is true, then I want to know which credit cards companies does accept benefit/unemployed? I have tried nearly all companies and many of them won't accept me because I am unemployed.

Any idea or suggests?

chanz4 wrote: »

why an internet server ?

It's for my personal use, like alot of people out there who are use it in everyday life. Why do you want to know?

tomjonesrules

chris0147 wrote: »

Yep, I got to paying back to my savings because I has brought a second hands car which is worth £2,450. All of my money on my savings has nearly runs out, so I got to put it back. As for getting credit cards, I have no doubt to get one and pay on each month. It would help me out and I would have enough money for myself, but the interest doesn't really bother me as long as I could be able to afford the bills. I got told by my revelent that the credit cards is cheaper way to pay the bills rather than getting one from the loans or debit?

Your savings will earn around 3% interest. A credit card will charge around 20% interest. Do not use a credit card to add to your 'savings'!

chris0147

tomjonesrules wrote: »

Your savings will earn around 3% interest. A credit card will charge around 20% interest. Do not use a credit card to add to your 'savings'!

No I am not going to do that, I will only cashout and pay the bills that I can't really afford. do you know what credit card companies will let me to borrow £500?

or is it the loan sound better for me if the interest is lower than the credit card?

tomjonesrules

chris0147 wrote: »

No I am not going to do that, I will only cashout and pay the bills that I can't really afford. do you know what credit card companies will let me to borrow £500?

or is it the loan sound better for me if the interest is lower than the credit card?

It would be irresponsible to recommend any lender to someone in your current situation. Have you checked that you are receiving your full benefit entitlement? Do you receive DLA and housing benefit?

Tixy

chris0147 wrote: »

Yep, I got to paying back to my savings because I has brought a second hands car which is worth £2,450. All of my money on my savings has nearly runs out, so I got to put it back.

You don't need to put your savings back, its possible to manage without savings, better to have no savings and no debt, than to have savings and debt.
Having savings is nice, but perhaps not possible on £108 a week.

chris0147 wrote: »

I got told by my revelent that the credit cards is cheaper way to pay the bills rather than getting one from the loans or debit?

if that is true, then I want to know which credit cards companies does accept benefit/unemployed? I have tried nearly all companies and many of them won't accept me because I am unemployed.

Not true at all - even if you were accepted for a subprime card it will likely be at an APR of 30% or more. Thats a very expensive way of paying for anything.

If you already have debts and cannot afford your outgoings I doubt you will find any lender who will give you a credit card or loan.

chris0147

Tixy wrote: »

You don't need to put your savings back, its possible to manage without savings, better to have no savings and no debt, than to have savings and debt.
Having savings is nice, but perhaps not possible on £108 a week.



Not true at all - even if you were accepted for a subprime card it will likely be at an APR of 30% or more. Thats a very expensive way of paying for anything.

If you already have debts and cannot afford your outgoings I doubt you will find any lender who will give you a credit card or loan.

which one of them (either credit card or loan) has low apr and i can get them while i am unemployed?