Transferring loan onto another card if unemployed?

Suzkin

Is it possible at all, for someone who is unemployed to transfer an existing card loan onto a *new* card (at 0% etc.) just before the existing deal ends?

Or simply put: can unemployed people take out a new card, at all?

If so, how?

[Deleted User]

its not impossible to get a cc when not working,but it usually depends on why you arent working,and what benefits you are on,if you are disabled and get esa and dla then you might

tomjonesrules

They can, but it really depends on your income and your credit record. The best place to start is normally your own bank.

Suzkin

My friend is on ESA - income-based. Would this likely to apply?

boogiemaster

If your credit file is decent then I don't see why not as I've heard lots of people being accepted for credit cards while unemployed but they did have a decent credit rating.

I know someone that got a Tesco credit card who was unemployed and then later on got a loan from them.

Vanquis accepted me and I'm unemployed i know its not a 0% but you should get a decent card fingers crossed

ses6jwg

As has been stated, your bank is often your best option.

I work for Santander and people can be pre-approved for credit cards regardless of their employment status. It is determined from the management of your current account/ loan/ mortgage.

jonesMUFCforever

How much is left on loan? Nobody seems to have asked this?
Has OP got any clean/unused card already (for ringing to see if any balance transfer rates are available?)

Two things spring to my mind unless OP has a super balance transfer card then the idea is dead as a cash advance will be charged a rate a lot higher than existing loan, and if OP 's total income is benefits (in this day and financial age) no mainstream lender will give OP a new card.

ses6jwg

I think the term "loan" has been mis-used by the OP and he simply has a balance on C/C.. but I could be wrong.

Suzkin

ses6jwg wrote: »

I think the term "loan" has been mis-used by the OP and he simply has a balance on C/C.. but I could be wrong.

Hi, Apologies for confusion: he says he has approx. £1,900 on a card currently at 0%, and is paying the minimum £25 a month.

Whilst the bottom line is that he can actually afford to pay off this balance in full, his product 'deal' ends soon and given his circumstances he would rather try to arrange a balance transfer at 0% (if poss) and continue paying the £25 - at least until he's got another job.

Does this approach seem reasonable - or would he be better off paying in full at this time?