Graduate Overdraft - Applying for Credit Card

laurenjw

Hi there,

I am looking to apply for a 0% purchases credit card in order to purchase long-haul flights for myself and my boyfriend (c.£800 each).

I am currently teetering on my overdraft, however. I have a graduate overdraft of £1500, which was given to me automatically upon graduation last year. Since it took a while to get a permanent job, I have been using it and am now about £300 overdrawn. I hope to be out of it completely in the next month or two (and I eventually hope to transfer to a different bank account completely, when I am in a better financial position).

Does anybody know as to whether my overdraft will affect my chances of getting a credit card? I have used the MSE Eligibility Calculator and have been told that I have a 90% chance of being accepted for a couple of 0% cards (Halifax, M&S, Bank of Scotland), but of course I know that this check does not take into account all of the factors that a bank's credit check does. I know that nobody can give me a definitive answer but any advice would be appreciated.

Thanks in advance.

thebritishbloke

Are you using the credit card because you don't have the money available to pay for the flights now? Most people on here don't approve of using credit for holidays. If it's going to take you two months to pay off a £300 overdraft, you really shouldn't be putting a £1,600 holiday on a credit card.

In regards to your question, yes it will affect it. Depends on what your other credit history is like as to whether it'll mean they deny you. If you've never had a credit card before, odds are you won't get accepted for a 0% Purchases card, or you'll get a very low limit.