Just got a job but need some funds, whats the best credit card?

Locogooner

I'm a recent graduate (July '17)

And I've been freelancing for a while, not making that much but enjoying the freedom it gave me. I was living at my parent's house, outside of London. So my overhead was very little.

Been offered a permanent position in London for a decent amount of money. I want to move out and at least cover the first month in London before the first payday.

The job will be paying £3k a month.

But due to some bad decisions, family issues and payments I had to cover - I am down to very little in my current account.

In fact, I'm actually into my overdraft.

Is there any credit card or graduate overdraft I can get just to cover my first month before I start getting the salary?

I have
>good credit score
>never been bankrupt
>Income for past year around £12000

[Deleted User]

Are you currently working - and have an income now?

Your credit score doesn't count for anything, but any positive history you have will. Being in your overdraft is a negative. Are other past issues? Are you on the ER?

Have a look at your three files to see what is on there.

You can probably get a sub prime card, but you'll want to do better than that if you need to borrow on it.

Locogooner

Deleted_User wrote: »

Are you currently working - and have an income now?

Your credit score doesn't count for anything, but any positive history you have will. Being in your overdraft is a negative. Are other past issues? Are you on the ER?

Have a look at your three files to see what is on there.

You can probably get a sub prime card, but you'll want to do better than that if you need to borrow on it.

It's scattered income. It comes and goes. I usually get a couple payments a week.

I'm on the ER. No past issues.

What are the three files? Also what could I get from a sub prime card?

Locogooner

I could probably get away with £1200-£1500 or so set aside just for the first month.

dresdendave

As your parents live just outside London could you not continue living there and commute for the first few months? This would allow you to save up some money and use that for the move rather than doing it on borrowed money.

This would also allow you to get to know the area and get feedback from your colleagues before committing to renting/buying.

[Deleted User]

Your three credit files can be viewed via the MSE Credit Club, Clearscore and Noddle. Check the data on all three - ignore the scores and ratings.

A sub prime card is aimed at higher risk customers - limit credit history, sporadic income, poor credit history. The have low limits and high rates and aren't designed for borrowing (although you can, but you'll pay a lot for it).

Try an eligibility checker to see what you can get. Ideally you want a 0% offer but that may not be likely.

Locogooner

dresdendave wrote: »

As your parents live just outside London could you not continue living there and commute for the first few months? This would allow you to save up some money and use that for the move rather than doing it on borrowed money.

This would also allow you to get to know the area and get feedback from your colleagues before committing to renting/buying.

I went to London for university so I know it well.

Commuting wouldn't be THAT much cheaper for me also considering food costs too.

Locogooner

Deleted_User wrote: »

Your three credit files can be viewed via the MSE Credit Club, Clearscore and Noddle. Check the data on all three - ignore the scores and ratings.

A sub prime card is aimed at higher risk customers - limit credit history, sporadic income, poor credit history. The have low limits and high rates and aren't designed for borrowing (although you can, but you'll pay a lot for it).

Try an eligibility checker to see what you can get. Ideally you want a 0% offer but that may not be likely.

OK, thanks. I'll look into those.

What about a graduate overdraft account?

[Deleted User]

Ask your bank about that.

Sncjw

But with renting you will need to pay for rent, food, transport, energy bills, council tax, tv, plus fund to stock up your home with essesntials. I wouldn’t do it until you have a secure job and money backed up. Plus first months rent will need the same amount in deposit usually.

It will be a vicious cycle of struggling to pay rent and bills if you are needing credit in the first month. Wait for a bit until you know the job is secure

Sncjw

Also you may need to wait a while before getting your first pay depending on your workplace deadlines. You may only get paid for part of the month and have to wait the end of the next month for money unless they pay a bit early.