Who will know
in Credit cards
13 replies 933 views
in Credit cards
I have been unemployed for a while, well I had some health issues. I have a couple of debts I am paying off from before I was ill, not paying interest, monthly payments are very low.
I have just started work, temping and working part time but have a few days away with work and a credit card would really be useful especially when having to hire a car.
I am wondering if I apply for a credit card will the companies I own money to will know. Because I am working on an adhock bases I am not sure how much work I will get, for example I worked most of October but haven't last week or this week.
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Try eligibility checkers such as https://www.moneysavingexpert.com/eligibility/credit-cards/search/?goal=CC_CREDITBUILDER
When you apply for a new credit product - it'll leave a hard search on your files - the other lenders won't be able to see who it was with, but from what you've told us the likelihood of acceptance is going to be pretty low.
Any application may also want to see proof of income, so if you don't have the evidence to support your stated salary, you could be given a CIFAS marker (which would make credit nigh on impossible to get for 6 years plus, and would likely result in the closure of your bank accounts) - so just think carefully when it comes to stating your income, being that it's not a constant at the moment.
Also with unsecured income it will be difficult to get a card. Do you really want to get in more debt that you will struggle to pay
Actual mortgage stating amount £75,150
Overpayment start date 1/3/23.
Starting balance £66,565.45
Current balance -£65,553.80
This will be a big red flag to any lender. I think this, combined with your unreliable income, will mean you'll struggle to get accepted for a new credit card. You could try one of the sub-prime cards, but you'll still run the risk of getting yourself into debt if you buy stuff on the card and then find you don't have the work/income to pay for it.
Paid back just under £50,000 due to some interest added.
Dealt with my debt through a Step Change (CCCS) DMP.
DMP Mutual Support Thread Member #240.