Need money for holiday.

glasgowm148

Hey all, I'm going to Amsterdam/Munich for my uncles 50th. We fly out on Sept 18 and come back the 23rd.

I've had to pay a few large bills the past few months and I'm going to end up going with very little spending money.

I had a look through the guides and got accepted for a Barclays Card but it's only got a credit limit of £250/£50 cash.

I normally buy things with cash so I have a pretty non-existent credit ratings. What's my best option here? Looking for around £1000. I'm already at max overdraft. I have a steady income (employed at this job for ~5yrs @ £21k/yr) so paying it back is not an issue.

Ta

Gaz83

Your best option is to admit that you can't afford to go on holiday. Loans for holidays are an incredibly stupid idea. You save for holidays, not borrow for them.

glasgowm148

How are they incredibly stupid if they're 0% and I pay them off before they accrue any interest? What difference does it make if I save before or save after? I could afford to go with no loans at all but not interested in being frugal on holiday and would like some emergency funds available. Just applied for the Capital One card and got past the initial check. Just waiting for their in-depth check.

I'm going regardless (as I've already paid £1100 for flights & accommodation) so some actual advice would be appreciated, thanks.

tomtontom

Never pay on credit for something it will take you longer to pay off than you'll have it to enjoy.

glasgowm148

Serious replies only please, as I've already stated - I'm 100% taking money on credit. I'm just looking for the best options.

macman

The only advice anyone can give is to apply and see-or have you asked your bank if they'll increase the overdraft?
It's stating the obvious, but if you want credit then you've got to use credit-get a credit card of any kind and use it instead of paying cash all the time. Pay it off in full each month by DD and you'll then establish a track record, which is what potential lenders need to see
Do you really need £1,000 for five nights though, if accom and if flights are already paid for?

glasgowm148

Me and my girlfriend will have about £1400 saved up but I'd like another £1k or so to be safe. 3 of those days will be in Oktoberfest where I can easily see myself spending £300+/day between the two of us.

My Barclay card will be here next week. I'll try increasing the limit on that instantly.

[Deleted User]

glasgowm148 wrote: »

I'm already at max overdraft. I have a steady income (employed at this job for ~5yrs @ £21k/yr) so paying it back is not an issue.

I don't see how it can not be an issue. If you had any surplus each month, then you wouldn't be at max overdraft, surely? Where will the spare cash come to pay for the loan?

macman

No chance they will increase that the first week you get it, because they'e only just rated you for £250, and nothing will have changed.
And drawing cash (if that's your intention) on a credit card is a really bad idea.

glasgowm148

Deleted_User wrote: »

I don't see how it can not be an issue. If you had any surplus each month, then you wouldn't be at max overdraft, surely? Where will the spare cash come to pay for the loan?

I meant that I cannot increase my overdraft anymore. I'm not withdrawn fully on it.

catwoman73

glasgowm148 wrote: »

Me and my girlfriend will have about £1400 saved up but I'd like another £1k or so to be safe. 3 of those days will be in Oktoberfest where I can easily see myself spending £300+/day between the two of us.

My Barclay card will be here next week. I'll try increasing the limit on that instantly.

Is the flight and accomodation already paid for? £1400 for two people for five days is ample even if it is not. That's more than DP and I usually spend on a week in Spain including everything (flights, B+B hotel, UK travel, pet sitting, eating out twice a day while there, loads of booze, airport shopping, etc etc etc).

:eek: if you think £1400 is not enough spending money for five days - are you planning to bath in the beer?