Difficulty in getting a credit card

greenlightluke

If you've already tried Vanquis and Aqua and still no luck - then he probably won't be able to get one. But the % rates are huge.

joolsybools

perdusys wrote: »

He's maxing out his overdraft because he has separated from his wife, but is keeping the flat and all their joint expenses on his own. There is a joint loan he pays as well as all the household expenses.

he was hoping to reduce the overdraft, but Halifax would only give him a 26% loan to do so, which is far too expensive.

with our help, he is just about coping, but the credit card would give him a bit extra to deal with unforeseen finances.

What exactly is his soon to be ex-wife paying for then? Whose names are the debts in, just his or both of them?

perdusys

It's a long story, but the debts are in joint names but because of what happened he has agreed to take them on himself, as he was the "guilty" party. And he's trying to preserve his relationship with her as he wants to be able to see his child and can't afford a costly solicitor, he doesn't qualify for legal aid.
He bought the sofa because he virtually gave her the contents of the flat for her unfirnished place, and I guess he felt depressed and it was his way of dealing with it. Part of the money we give him is to pay for credit on the sofa, as he had to have something to sit on!!!

He hasn't applied for any credit cards except for Tesco and Nat West 0%, the overdraft is on an account which is in joint names. The 26% loan was to cancel his overdraft and take that and the loan, but he was told he could have a cheaper rate of he took over £7k and the repayment would be cheaper. He has since been offered a loan at 13% to repay these, not sure who by, but I'm not sure its wise because in a way I think he'd be better off goign bankrupt and I have asked him to think about it all.

Jaywilz

if you can avoid it i will say never go BR. I know these things happen but then he will have 6 years of being unable to get anything on credit. Going BR will not help him get a CC in any way