Applying for a balance transfer credit card

joseph9a

My cousin has been out of work for a few years now but has a mortgage which he is half way through. I checked his credit score on noddle and it is 3 out of 5 which seems fair. He doesn't have any income other than benefits.

He is on DLA but does not qualify for motability, and he needs a new car as his current one has finally packed up. I told him to try and get a balance transfer credit card and get a car for about £2,000 on one of his credit cards and transfer the credit.

Does benefits like DLA and ESA count as an annual income when applying for loans?

If not he would probably have to goto amigo loans.

Any advice would be appreciated.

Thanks

Joe

joseph9a

Can anyone off any advice?

Tixy

With only benefit income he is very unlikely to be accepted for a card that offers promotional rate balance transfers.

I would also suggest you advise him against using a firm like amigo loans. They are a very expensive way of borrowing money and if he has someone who is willing and able to be a guarantor for him on an amigo loan then they would be far better off taking out a much cheaper loan with a mainstream lender in their own name and for him to repay them each month.