First time credit card user. - Advice please.

JerryS

Hi folks,

To be brief, I was mis-diagnosed in 2010 with epilepsy. This then led to me loosing my driving licence, and being a driver of HGV / PSV vehicles, meant I could not do the job I had been doing for nearly 20 years.

This in turn led to serious relationship pressures and eventually a breakdown.

I have however recently regained my car licence and am now awaiting a decision for my HGV/PSV entitlements.

As I have had to start from scratch with nothing, I am without a car to enable me to travel further to look for work, or indeed get to a job when I find one.

For this purpose, I am intending to get a credit card, but as I have never had any form of credit whatsoever, can anyone advise me on the better credit card companies to apply to?

I purely need this to give me that initial finacial boost to re-start my life again.

Thanks.

lisyloo

If you have little credit history you will have a much greater chance of success with your own bank.
The reason is that your own bank have a lot of internal history on how you manage your account whereas other banks only have your credit report and from the sound of it you have little credit history.

Borrowing on a credit card (assuming you get one) is a very expensive way to borrow.

Have you considered talking to your bank about a loan or overdraft.

You may not be able to get credit at all whilst out of work (and it could be unwise).
Do you have a plan B? e.g. any freinds or family would could give you a lift or possisbly even lend you their car or public transport jsut whilst you are going to interviews?

bengalknights

I would recommend your own bank otherwise you would be looking towards the subprime end such as vanquis etc to build your credit up to a bank that would give you a a decent limit.

rb10

With little/no credit history, you are likely to start on a £500 limit, if you are accepted - will this be enough?

Will you be able to afford to make the minimum repayments? Even if you are able to get a 0% interest offer, you'll still need to make a monthly payment onto the card.

FLAPJACK

Sounds to me that maybe a loan from your bank would be better...lower interest I should think and you can have a lump sum in the bank to draw on when needed.....the need hopefully will get less as you start earning a regular income.

When you do go for a card...I agree your bank should be the best bet.

JerryS

Thanks for the replies.

I've found myself, like many others, in that vicious circle of no car - no job - no car - no job lol

I did apply at my bank early last year, and was turned down, hence the credit card route. I don't need a huge limit, just enough get me started.

If I am forced to apply for a card, are there any suggestions as to which are the lesser of the many evils?

It's a shame I am not in a position whereby I have family to ask. Had all this happened five years ago, I would have been able to bounce back much easier.