Interest Free Credit

Louise75_2
Louise75_2 Posts: 4 Newbie
Part of the Furniture First Post Combo Breaker
edited 20 June 2022 at 12:40PM in Loans
I would like to purchase some furniture from John Lewis amounting to £4000. Does anyone know how credit allowance is calculated for John Lewis? I would like to know what my annual income needs to be to purchase items for a specific amount, preferably over 24 months which I think I need to spend 2000 to acquire.

I would like to know this in advance to avoid the risk of being refused and it affecting my credit score.

Their website states that the minimum income is £10,000 to apply for credit but there is no further information regarding income and amount spending.

I am self-employed, if this makes any difference.

Thanks.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    You won't know until you apply. Income is only one factor in lending.

    Don't worry about a drop in the pretend credit score. A search will have no impact on a well managed file.
  • Brie
    Brie Posts: 14,210 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It may be affected by how much credit you currently have available even if you are not using it.  

    If you have 2 cards with £20k total available then that may be taken into account on whether you could afford to pay back the additional £4k to JL.  And if you have cards available with nothing on them you might want to check if there are any 0% deals in case the JL credit isn't forthcoming.
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  • sarah1972
    sarah1972 Posts: 19,384 Senior Ambassador
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    PM’d forum team to move to a relevant board on Monday x
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