First Credit Card. Unemployed

edited 30 November -1 at 1:00AM in Credit Cards
4 replies 1.3K views
Haunting_IdleHaunting_Idle Forumite
1 Post
edited 30 November -1 at 1:00AM in Credit Cards
Hi,

I think the time has come where I would benefit from applying for my first credit card. Apart from a small student loan, I have no other debt and have never borrowed before. Currently I am unemployed due to poor health.

Where should I start looking? What are my chances of a successful application?

Replies

  • jonesMUFCforeverjonesMUFCforever Forumite
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    You say unemployed due to ill health - have you been ''retired'' due to your illness?
    If not you may only get the cards whereby you get a limit equal to whatever you give them to guarantee the line of credit eg you give them £200 and they give you £200 credit - you can normally ask for this back after 6 months or so if you have run the account properly.
  • SnowTigerSnowTiger Forumite
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    I think the time has come where I would benefit from applying for my first credit card. Apart from a small student loan, I have no other debt and have never borrowed before. Currently I am unemployed due to poor health.

    Where should I start looking? What are my chances of a successful application?

    Getting a credit card when you're unemployed isn't impossible.

    Your own bank and the usual suspects (Capital One, Vanquis and Barclaycard Initial) are possible options. Capital One used to offer a Secured Card; you pay £200 deposit and get a card with a limit of £200. This seems to come and go. Sometimes it's offered to people who apply for one of their other credit cards but fail to get one.

    Are you claiming ESA and/or PIP? You should at least be getting ESA, which will bump your income up a bit.
  • PeacefulWatersPeacefulWaters Forumite
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    Hi,

    I think the time has come where I would benefit from applying for my first credit card.

    In what way do you think you'll benefit?
  • David301David301 Forumite
    234 Posts
    You will need to think this through again. There is a reason why it will be difficult for you to get one with any kind of significant credit line.
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