0% credit cards when you don't have lots of credit

nikki2009_2

I'm hoping to get an 0% card for my up and coming trip to America in September and to book flights with next month.


My problem is that I haven't really had a lot of credit. I currently have a current account with no overdraft, a Dorothy Perkins store card which I pay the minimum off each month, car finance through black horse and a mobile phone contract which I've had for almost 6 years. I did briefly have a credit card when I was a student but I only used it a few times, paid it off in full each month and cancelled it after less than 6 months. I did have an overdraft for 4 years while a student obviously a student one though. I am on the electoral roll, lived at same address all my life and work full time. I do live with parents though which I'm worried might effect my applications?


My question is and I know it's impossible for anyone to say for sure, but from the info I have given above how likely do you think it is I would get accepted for a mainstream credit card with a good length of 0%? I don't really want an aqua card ect as having previously worked in the banking sector I know how bad these types of cards can be.


Thanks

CLAPTON

whilst it's very concerning that some-one employed and living at home, doesn't pay their store card in full each month and needs a car loan, there is no down side to simply applying for a card:

nikki2009_2

Not a very helpful answer at all!

nikki2009_2

I came on this forum for advice not to be judged thank you very much, my circumstances are not really any of your business and I certainly do not appreciate you judging me. It's one of those cases where if you don't have anything nice to say don't say anything at all!!

forgotmyname

Living with your parents wont go against you. Not paying the store card off wont be helpful. But shows you pay back without missing payments.

If you think the previous post wasnt helpful you have to put yourself in the shoes of the future lender.
This person spends on a store card yet cannot pay it all back each month.

Do we want to give them a card?

What % of debt or potential debt do you have compared to your earnings?

You say you dont have a lot of debt, But more than some.

nikki2009_2

Thanks much more helpful response, I do pay my card in full some months or make larger payments than the minimum, but I always ensure the minimum is covered with a dd. The past few months I have only had the minimum though, I know plenty of people who do this.


% of debt to earnings is around the 38% mark.

katejo

I would never pay for a holiday with an interest free card. I pay with a card for the credit protection provided but would always pay it off immediately. Can't stand the idea of still having payments to make when the holiday is over. I only use interest free cards to pay for specific projects, usually improvements to the house or unexpected expenses which cannot be postponed.

nikki2009_2

I'm going to be using the card as security while in the US as everyone keeps saying I need one and would be stupid to go with out one. I'm not planning on putting the whole trip on a CC, not even the total cost of flights just a % of the cost of flights so I am covered if anything happened to the airline ect. Hotels will be paid via debit card before we leave, as a group trip we have the funds saved for this.


So I've been told many hotels in the US require a CC upon check inn therefore this is my main idea of a CC.


I don't even require a high limit, anything more than £1000 would be too much.

CLAPTON

nikki2009 wrote: »

I came on this forum for advice not to be judged thank you very much, my circumstances are not really any of your business and I certainly do not appreciate you judging me. It's one of those cases where if you don't have anything nice to say don't say anything at all!!

I gave you the only answer that makes any sense

there is no down side to simply applying for a card:

The fact you think that 38% debt to income level is reasonable sadly shows poor financial judgement :
living at home etc you should be a net saver and not in any sort of debt whatsoever

the fact you have friends that regularly only pay the minimum on CC is another sad reflection on our society and is no model to emulate


and finally as no-one else has warmed you, you may find in the USA that hotels, car hire etc often make large 'reservations ' against your CC and don't always cancel them promptly : you can easily run out of credit on the card even if you have actually spent only a little.

nikki2009_2

I don't agree with that at all I'm afraid, I was lucky to have my first car brought for me, however this car which was 10 years old had problems which was costing a lot to repair. I needed to have a new car for my job without a car I could not get to my place of employment, therefore I had no choice but to take out car finance as many people do.

nikki2009_2

Not that it's any of your business but I do have savings, ISA's ect these are for my future e.g. mortgage deposits ect. To say I have poor financial judgement is very judgemental on your part, I only gave the information in my first post as I thought it could help people give me advise rather than judge me, but frankly I wish I'd not bothered!