Unemployed and 0% ending

gemma1480

Hi, my husband is now unemployed and his 0% credit card is coming to an end. We usually just switch to another 0% but will the companies know he isnt working?
Our money is all pooled together in a joint account and we have always just split the debt between us, plus it is good for our credit scores to show we can pay of debt. I already have a 0% credit card in my name and could get another but not sure what would be best. I would be grateful for your advise.

robber2

The card companies will know he has zero income so are unlikely to be showering him with card offers. Be prepared to pay off the credit card debt with you pooled money. This will also have the 'benefit' of improving your husbands credit history.  What this will do to his made up 'credit score' is anyones guess !

born_again

gemma1480 said:

Hi, my husband is now unemployed and his 0% credit card is coming to an end. We usually just switch to another 0% but will the companies know he isnt working?
Our money is all pooled together in a joint account and we have always just split the debt between us, plus it is good for our credit scores to show we can pay of debt. I already have a 0% credit card in my name and could get another but not sure what would be best. I would be grateful for your advise.

Given a credit card is in a Sole name than he will have to list status as unemployed.

Perhaps now is the time to look at paying the debt off, rather than keep switching. As you are now in that situation that many have found. Simply rolling the debt over rather than paying it back within the 0% period has caught out a lot in the last year when offers have dried up.

confused.com2

If you haven't the money to clear it, you taking a card with interest free would be the best option. If your money is pooled anyway it doesn't make much difference.

Brie

gemma1480 said:

Hi, my husband is now unemployed and his 0% credit card is coming to an end. We usually just switch to another 0% but will the companies know he isnt working?

Frankly I don't think any bank would know if he's working or not unless it's the bank he normally has his wages paid to.  Of course that would mean lying on an application as if he is still getting £X,000 a month in salary.  I suspect that might be considered fraud but again am not sure how /if they would clock that unless he/you stop making payments.

Thrugelmir

gemma1480 said:

 We usually just switch to another 0% but will the companies know he isnt working?

Committing application fraud isn't advisable. Time to address the underlying issues perhaps rather than constantly attempting to keep plates spinning . 

[Deleted User]

Given you already share finance, you could agree to BT the balance to your own card (technically they say it must be a card in your name both ends but they rarely ask for a name) - you would be responsible for the debt of course.

Brie

Deleted_User said:

Given you already share finance, you could agree to BT the balance to your own card (technically they say it must be a card in your name both ends but they rarely ask for a name) - you would be responsible for the debt of course.

I've often BTd between my card and one of my other half.  It has never been questioned at all.  And I've never spotted anything that says it's a requirement!!

MallyGirl

More recently providers are asking for the name of the account and some absolutely will not BT from someone else. The technology exists to check the name against a bank account - no idea if this extends to credit cards but it would make sense if it did.
You might get around this by doing the transfer online and hoping that they only ask for the long card number 

[Deleted User]

MallyGirl said:

More recently providers are asking for the name of the account and some absolutely will not BT from someone else. The technology exists to check the name against a bank account - no idea if this extends to credit cards but it would make sense if it did.
You might get around this by doing the transfer online and hoping that they only ask for the long card number 

Agreed, though Barclaycard and NatWest (2 I use) have only ever asked for the card number and total so it seems a bit hit and miss. While it's a Ts & Cs issue, I don't see why you cannot take on someone else's debt if you choose to  

GeordieGeorge

gemma1480 said:

Hi, my husband is now unemployed and his 0% credit card is coming to an end. We usually just switch to another 0% but will the companies know he isnt working?
Our money is all pooled together in a joint account and we have always just split the debt between us, plus it is good for our credit scores to show we can pay of debt. I already have a 0% credit card in my name and could get another but not sure what would be best. I would be grateful for your advise.

Yes, they’ll know that he’s not working as he’ll be filling in an application that includes his employment status.

Is there a reason he can’t find another job before the rate runs out? They are extremely easy to get at the moment, with wages facing strong upwards pressure at the bottom end.