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Does an internship count as income for a credit card application?
sultanoflondon
Posts: 72 Forumite
in Credit cards
Hi all,
I will be doing an internship in the summer and I will be paid a certain amount per hour. Can I use this as stated income on a credit card application?
Thank you!
I will be doing an internship in the summer and I will be paid a certain amount per hour. Can I use this as stated income on a credit card application?
Thank you!
0
Comments
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Perhaps depends on exactly how the question is worded but personally I'd find it hard to believe that some income to be received in at least half a year's time is relevant right now....
If, for the sake of argument, you got a card now and started using it, how and when would you plan to pay it off?0 -
Do you need a credit card ?
If not then use a debit card if you have 1.0 -
sultanoflondon wrote: »Hi all,
I will be doing an internship in the summer and I will be paid a certain amount per hour. Can I use this as stated income on a credit card application?
Thank you!
Yes, once you've started in the summer. You mention an hourly rate. If you work part-time, you cannot pro-rata up. Ie if you work 10 hours a week at £10/hour, then your annual equivalent would be £5200. CCs ask for an "annual income". It would probably be dishonest if you know at the time of the application that the internship is only going to last a few weeks.Do you need a credit card ?
If not then use a debit card if you have 1.
I'm guessing most cardholders don't "need" them. But they can still be worth having - eg S75, deposits for car hire/hotel bookings, loading free foreign transactions (certain cards only)...0 -
I would say no you can't use it. You haven't started the internship yet so it's not income yet.
If you apply in the Autumn and have been doing the internship for x amount of weeks/months then yes as it will have been your income.
Alot could change between now and the summer.I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
If you can't be the best -
Just be better than you were yesterday.0 -
Was just going by a previous thread posted lasted week where the OP says due to a large number of current account applications he was declined for an account, response said to wait 6 months before trying again.0
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Thank you all for your replies!0
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