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0% Interest Credit Card on Mat Leave
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matmum24
Posts: 2 Newbie
in Credit cards
Hey,
I’m sure this question has been asked before but I can’t find anything too recent.
Basically, I’m 5 months into my maternity leave and due back in April next year. From January 2025 I’ll no longer be receiving any money (from work or SMP).
I did the eligibility checker on here earlier today and I’m not sure if I can apply as it asks for income and to specify if there will be any changes in the next 12 months.
Do I put in my usual full time income is basically what I’m asking?
Thanks.
I’m sure this question has been asked before but I can’t find anything too recent.
Basically, I’m 5 months into my maternity leave and due back in April next year. From January 2025 I’ll no longer be receiving any money (from work or SMP).
I did the eligibility checker on here earlier today and I’m not sure if I can apply as it asks for income and to specify if there will be any changes in the next 12 months.
Do I put in my usual full time income is basically what I’m asking?
Thanks.
0
Comments
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How will you be paying the card off, if your income is limited?1
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Well - if they want your annual income that might be what your employer normally pays you. Or it might be what you know you will be paid in this tax year. The fact that your income will reduce to zero temporarily doesn't mean you won't have an annual income that you can report.
But you are left with the question of how will you be paying for a card? Remember that if you don't pay at least the minimum each month you lose the 0% offer.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions 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.
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⭐️🏅😇1 -
Emmia said:How will you be paying the card off, if your income is limited?
Sorry should have been more clear. It’ll only be my last 2 months of maternity leave when I’ll have no income from work. I still have savings, my partners earnings, child benefit, and I’ll apply for UC. I just want the credit card and a safety net.Brie said:Well - if they want your annual income that might be what your employer normally pays you. Or it might be what you know you will be paid in this tax year. The fact that your income will reduce to zero temporarily doesn't mean you won't have an annual income that you can report.
But you are left with the question of how will you be paying for a card? Remember that if you don't pay at least the minimum each month you lose the 0% offer.0 -
You've been asked what your INCOME will be, nothing about savings. Just answer honestly, with what you expect your earned income to be over the next 12 months.#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3662
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A CC isn’t a safety net.0
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It can be in emergency when the alternative is having no money for food, but while savings are not considered income, surely that is better than a card you might struggle to pay back and pay interest on.Desmond_Hume said:A CC isn’t a safety net.
Agree with the above posts though OP - be honest about your situation, lying is asking for a fraud markerSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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