"Minimum Income"

anon_ymous

Just wondering if that actually means any thing for most companies, or if my bank was just lenient because I bank with them?

I was looking at some cards and I'm sort of kicking myself for not getting the Aqua reward card over the Capital one card, considering I'd need to spend £3334/year to get £100 cashback on the Aqua and £20,000 to get the same amount on the Capital one

Any way, I noticed that Lloyds set a minimum income of £15,000 on their Lloyds Platinum card, yet I managed to get one, despite "earning" half that amount. I say "earning" because it's really just money that I get from student finance and I'll have to give that back

http://www.money.co.uk/credit-cards/credit-card-details/Lloyds-TSB/Platinum-MasterCard.htm#

http://www.moneygem.com/credit-cards/lloyds-tsb-26

So yeah basically does the minimum income actually mean any thing, or perhaps I got the platinum card because I bank with Lloyds?

Hooloovoo

waqasahmed wrote: »

I was looking at some cards and I'm sort of kicking myself for not getting the Aqua reward card over the Capital one card,

There's nothing to say you can't have both. Why do you think you can't have an Aqua card as well?

yet I managed to get one, despite "earning" half that amount.

What was your answer to the "income" question on the application form?

anon_ymous

Hooloovoo wrote: »

There's nothing to say you can't have both. Why do you think you can't have an Aqua card as well?

Well, I only recently applied for the Capital one card. I thought you're meant to wait 6 months before you apply for a new card?

Hooloovoo wrote: »

What was your answer to the "income" question on the application form?

It was in branch, and I said truthfully that I'm a student and my "income" is £7735

Hooloovoo

waqasahmed wrote: »

Well, I only recently applied for it. I thought you're meant to wait 6 months before you apply for a new card?

Depends on your credit file quality really. If it's good there's no reason you couldn't apply for two close together. The six month thing is just a rule of thumb.

It was in branch, and I said truthfully that I'm a student and my "income" is £7735

Well then you've answered your own question. They didn't care - either generally or because you bank with them.

anon_ymous

Hooloovoo wrote: »

Depends on your credit file quality really. If it's good there's no reason you couldn't apply for two close together. The six month thing is just a rule of thumb.

Hmmm.. Fair enough. I guess my credit report is very good for a student, but average nonetheless. I know scoring is not much to go on, but noddle gives me 5/5 which is quite surprising

Hooloovoo wrote: »

Well then you've answered your own question. They didn't care - either generally or because you bank with them.

Ah fair enough. I'm guessing this is a Lloyds thing only? Unless it's been the same for other banks for other people?

When I went in, I had no idea what card I actually wanted, and they just gave me the platinum card

EDIT: Just applied for the Aqua credit card now. They gave me a credit limit of £250, which is pretty pitiful but I suppose I can spend £100 or so, pay it off, and then spend up to £280/month, as to not max it out

iAMaLONDONER

waqasahmed wrote: »

Hmmm.. Fair enough. I guess my credit report is very good for a student, but average nonetheless. I know scoring is not much to go on, but noddle gives me 5/5 which is quite surprising



Ah fair enough. I'm guessing this is a Lloyds thing only? Unless it's been the same for other banks for other people?

When I went in, I had no idea what card I actually wanted, and they just gave me the platinum card

EDIT: Just applied for the Aqua credit card now. They gave me a credit limit of £250, which is pretty pitiful but I suppose I can spend £100 or so, pay it off, and then spend up to £280/month, as to not max it out

I guess a high credit score can be more important than a high income- unless you apply for an AMex I guess

[Deleted User]

iAMaLONDONER wrote: »

I guess a high credit score can be more important than a high income- unless you apply for an AMex I guess

Why the fasincation with all the old threads? We're not heading into spam city are we?

iAMaLONDONER

Deleted_User wrote: »

Why the fasincation with all the old threads? We're not heading into spam city are we?

The natural irony when people who make new threads are told they should search for previous threads :money:

I don't think my Oyster card would cover a trip to there lool!

anon_ymous

iAMaLONDONER wrote: »

The natural irony when people who make new threads are told they should search for previous threads :money:

I don't think my Oyster card would cover a trip to there lool!

It's slightly different to ask a question, rather than bump up old threads with a small remark