credit card with deferred income

fredjk

I'm currently temping so I guess I could put that down?


Yeah I don't think it will look good on the online form. That's why I was thinking of going into banks and actually speaking with them face to face...

SnowTiger

fredjk wrote: »

But even though I do not currently have income I do have savings.

So I was thinking I could use my savings to meet the initial payments and by September by bonus will have come in and I can use that to pay it completely off?

Why don't you use your savings to travel, then replace them with your bonus in September?

All credit card applications will ask for your income. An income is £0 will get you an instant rejection.

It seems odd that an employer would offer you a job with a start date of ten months away. But it is only an offer. Anything could happen between now and then. The offer may be withdrawn.

Sell everything, borrow from family, ask your future employer for an advance.

Caz3121

when are you planning to go travelling?
can you delay it until you have managed to get your savings up to the amount you need?
How long is your temp job for?
do you have any current credit cards?
Any family you can borrow from if short?
I have previously had to rescind job offers to people in the week before they were due to start employment due to changes in the business so future income is not guaranteed and will be unlikely to be even considered

SnowTiger

fredjk wrote: »

I'm currently temping so I guess I could put that down?


Yeah I don't think it will look good on the online form. That's why I was thinking of going into banks and actually speaking with them face to face...

The only difference is that a member of the bank's sales team will type your details in to the computer at the bank, rather than you doing it yourself at home.

fredjk

Oh right, I thought it could be different if I explained.


I understand the bank might be concerned if the job offer is rescinded but it is a place on a graduate program at a large bank so I believe it is pretty secure.


The reason it starts in September if because its for a grad program and they all have fixed intakes every year in the summer.


I do not have any current credit cards but have a graduate savings account which has a £2000 overdraft, until june this is interest free so I will definitely be using this.


I aim to go in March so can temp for another 2 months.


Yes, I will be using my savings for travelling but would love to stay out there for as long as possible and this will require more money than I have.


An alternative I was thinking about was working sporadically in hostels as I travel so I can keep travelling for longer haha.

cajef

You want to borrow £2000 on a credit card and put another £2000 on an overdraft, making a total debt of £4000 with no income or way of paying anything back apart from a promise of a job next September, I would say you have no chance.

fredjk

haha yep ideally that's what I'd like to do cajet. From September I'll be able to pay it off straight away.


It's also not a promise of a job, its certain. I've signed the contract and as I've already graduated it is not grade dependant.


The more money I can have the better, this is likely to the only chance I'll ever have to travel for months unless I have a career break at some point.

fredjk

Also looking at the option of getting another graduate account with an interest free overdraft .

MEM62

The idea is nice but what is your backup plan for servicing the debt if the job offer is withdrawn?

Superscrooge

If someone came to you and said....

"Can you lend me £2,000 I'm not working and I have no means of paying you back. But I hope to be working in September" Would you lend them the money?

I think your best bet is ........

Use your savings
Try to earn as much as you can from temporary jobs
Any other money making activities you can think of such as selling stuff on ebay.
Approach family/friends and see if any of those would lend you some money.

Lots of people already earning get rejected for 0% deals so I would be surprised if any credit card company would be willing to lend you £2,000 at 0% for 9 months when you have no regular income.