Using credit card to move?

mrshtobe

I'm not entirely sure this question belongs here so forgive me if it doesn't!

My partner has been offered a job to start around September/October time. His wages will be 26k so we will be able to afford to rent privately, but we will have to move away.

We are currently in a HA property claiming tax credits, LHA etc as he is on min wage 13k. We are struggling to even eat so we are in no doubt he will accept the job! But unfortunately we do not have the funds to move in time.

I'm thinking to use my credit card as it has a 3200 limit and I will be able to pay a deposit and first months rent from it and pay back gradually. It really seems like the only option. Would an estate agent accept a credit card? We've always paid cash in the past.

Also, I'm worried as I haven't used the card in 2 years it may flag up as fraud? Is it worth informing them of a big spend in advance? I got the card when I was working and I'm not now (stay at home mum) but they recently sent me a new card and my account is still online so they wouldn't block it would they?

I have to give 1 month notice here and I'm worried if I do, our referencing may fail and then I don't know what we would do? Any ideas how to get around this?

Sorry for the long winded questions. I'm so happy he'll be earning a decent wage and it will mean a better life for our family and not relying on benefits to live!

YorkshireBoy

mrshtobe wrote: »

Would an estate agent accept a credit card?

Why not ring a couple in the area you're moving to and ask them?

Also, I'm worried as I haven't used the card in 2 years it may flag up as fraud? Is it worth informing them of a big spend in advance? I got the card when I was working and I'm not now (stay at home mum) but they recently sent me a new card and my account is still online so they wouldn't block it would they?

Even if it was blocked a simple call would get it unblocked wouldn't it? If you want to err on the side of caution why not start putting a few essential spends on it now?

grumbler

mrshtobe wrote: »

...I'm thinking to use my credit card as it has a 3200 limit and I will be able to pay a deposit and first months rent from it and pay back gradually. It really seems like the only option. Would an estate agent accept a credit card?

How long is a piece of string? The only way to find out is to ask the agent.

Also, I'm worried as I haven't used the card in 2 years it may flag up as fraud? Is it worth informing them of a big spend in advance?

No harm done if you try.

I got the card when I was working and I'm not now (stay at home mum) but they recently sent me a new card and my account is still online so they wouldn't block it would they?

Even if they block the transaction, this can be only a temporary delay until you call them and tell that it's genuine.

I have to give 1 month notice here and I'm worried if I do, our referencing may fail and then I don't know what we would do?

What 'referencing' and what 'fail'?

mrshtobe

grumbler wrote: »

How long is a piece of string? The only way to find out is to ask the agent.

No harm done if you try.
Even if they block the transaction, this can be only a temporary delay until you call them and tell that it's genuine.

What 'referencing' and what 'fail'?

Thank you- the referencing I'm referring to is the check done by the estate agent on each tenant before they accept you. It usually takes a couple days.

stator

Ideally you only give notice to exit to end your tenancy once you have been accepted on a new tenancy. Unfortunately in the rip off world of rental agents this can be a problem. The new agents might want you to start the new tenancy too soon, so you end up with an overlap and wasted rent.
You can talk to your current landlord and ask them if they would be flexible, get it in writing if you can. ie if you give notice and your new tenancy falls through they will allow you to revoke the notice and stay an extra month.
Talk to your bank, you might get a better deal on a loan, if you have the job offer in writing then that might help you get a good loan.

stator

Depending on how keen the new employers are, they might offer relocation expenses or a relocation loan. But you have to judge for yourself whether you think it's worth asking or not.

Voyager2002

Hold your horses...

Firstly, social housing is scarce, so don't give notice on your present property until you are absolutely certain that the new job and new life are going to work out. And it is a sad fact that your husband's new employer could withdraw the offer at any stage: perhaps they have less money than they expected, or perhaps a manager might simply not like his face... So: best if you could begin by him simply renting a room near his new job, then if things are still working out after a couple of weeks he would know the area so that your search for a place to live would be more effective.

As for the cash situation: I once faced this issue and went to my bank (the Co-op), who offered me a personal loan and explained that I could cancel within the first month and not have to pay any interest or charges. I did so, and timed things so that I could use my first month's pay to repay the loan.

mrshtobe

The job is with family so it is secure and don't have to worry about it falling through.

I don't think we'd be accepted for a loan as his current wage is low and we rely on benefits. Also he is in his probationary period (changed jobs in June).

We have an 18 month old and 4 week old so renting a room isn't really an option. We already know the area so that's not an issue. I obviously won't want to give up our place until it's certain we have a new place. I will talk to our current landlord and see what they say.

Puddylove

Hi
Congratulations on the job.
Could your husband not stay with relatives, or rent a room Mon eve to Thurs eve for the first month? I know it would be tougher on you being alone with two of those human foal things, but he could spend the evenings looking for rental properties to suit.
Then after his first payday it would be easier to move, although you could still borrow the deposit to pay back gradually?
P x

[Deleted User]

You can pay rent on a card, there are no rules against it, but it will depend on the agent. For example do they even take card for the fee payments (referencing etc) - as some smaller ones don't.

I paid about 6k split across 2 credit cards (a years rental upfront as I didn't have a guarantor).

The EA will charge you a fee. Mine charged about 1.5% so it worked out at just under £100, plus the monthly interest on the cards etc.

It was processed as a normal purchase transaction, so that helps in that you get it processed and included on any 0% deals etc if you have them.

As the job pays 26k (mine paid 12k at the time!) you should cover income multiples to not need a guarantor/larger deposit (6/12 months rent etc) - which means the amount you pay be relatively small, so a credit card would be fine (if accepted).

EAs might raise eyebrows at the fact you want to pay by card, but if all employment paperwork is in order they should accept it. My ones knew I earned barely anything yet still eventually let me use a card.

If you're going to need to pay more than 4 or 5k, a loan would be better.

It may be worth seeing if either of you can get any 0% deals for taking out a new card rather than using the one you have - then you aren't in an immediate rush to pay it all off.

RE: Fraud blocking etc - my banks put them through, despite the fact my usual spending back then was only ever for small amounts at the likes of Tesco & Aldi, plus petrol. Scary really that such an amount got through without questions! If the agency has Chip & Pin almost anything seems to go through - if it is blocked you just need to phone as others have said.