New card when you are living on savings

Bantamsaver

I took voluntary redundancy in June 2013 and I am living quite comfortably on my savings and redundancy pay until my pension starts paying in June 2016. My income then will be in excess of £20k annually.

I have 2 existing cards, a Halifax Clarity I use when abroad, and an M&S cashback card. I put all my spending on the M&S card when at home. I pay both cards off in full and have an excellent credit record.

However, I would like to ditch the M&S card and open a John Lewis one instead. I have to make a trip to use M&S now I no longer work and would get more cashback with John Lewis as our local supermarket is a Waitrose.

However, I don't have any earnings at all. What chance have I of successfully applying for the John Lewis card? Can I enter the amount of savings I expect to spend each year until 2016 as income?

[Deleted User]

You have zero chance of a new card with no income. You defintely can't use your savings as income.

Paully232000

Do you have a family income as some cards use household income in addition to personal income.

RMS2

As the above poster said, in my experience they will not consider you without an income. You can have all the savings under the sun, or a part time average paid job and they'd pick the part timer every time.


Keep your existing cards, as if you were to relinquish them, the likelihood of getting them back is low.

thebritishbloke

You can always try and apply, odds are you'll be rejected though.