credit card for self employed

kevinski123

Hi all. Newbie here. I was wondering if there are greater difficulties for self employed individuals to get credit cards than those in regular employment and which credit card companies would be good to approach if you are self employed. Any advice would be very much appreciated.regards.

[Deleted User]

might be best to talk to your own bank as they know your history

w211

When I became self-employed, I had no problem getting credit cards.

I did, however, have a good credit rating anyway, built up with Barclaycard which I applied for when I was employed.

Applied for a Shell Citi Mastercard (not available now), where you get 3% cashback when you buy fuel at Shell, about six months after becoming self-employed. This came with a £500 credit limit (which was always being maxed out every few weeks), and this was eventually increased to £1,000.

Then, about a year and a half later after I became self-employed, I applied for an American Express Platinum Cashback Credit card. Had no problem being accepted, as I met their criteria including being self-employed for more than one year, and having a household income of at least £20,000.

Came with a £6,000 limit, used the card wisely, paying off in full each month, making full use of the cashback, I use almost £10,000 worth of fuel a year for my job, plus other expenses associated with my job.

Five years later, applied for their charge card, which required a household income of £40,000, and now also making full use of their membership rewards points.

They do ask for household income, which I assume what youre takings are rather than the profit you make. After all, they benefit because I'm putting all my business expenses using their card!

angelsmomma

I am self employed and got 3 credit cards with no problems. I do have a good credit file though. I got Barclaycard 0% deal (£6000 limit), M&S 0% (2500 limit) and Nationwide 0% (£900 limit) in the last 2 years

BugsyBrowne

Being self employed won't make no difference in your application.

w211

I'd have thought it's more of a risk since you don't have a steady income, and work can easily dry up.