Getting more credit cards

textbook

Don't like using these but may need some money soon to pay for my part of freehold.  Shall I just go to as many banks as possible and apply?

I'll try bank loan first but if that fails.   With bank loan I found if I don't say I have one dependent and up my income a bit they accept

CliveOfIndia

textbook said:

With bank loan I found if I don't say I have one dependent and up my income a bit they accept

You mean committing fraud?  Not the brightest of ideas.

That aside, it's not a good idea to put a large amount of money (well, any amount of money, really) onto a credit card without the means to repay it.  Unless you pay the balance in full at the end of the month, you'll end up paying shed-loads of interest (unless you're able to get a 0% promotional rate, with a high enough limit).

And that's even if the freehold owner would accept payment by card.

And if you're finding you can't get accepted for a loan, there's a fair chance you'll get the same response from credit card issuers.  Or, if they do give you a card, there's a good chance they'll offer a low limit and a very high rate of interest.

MEM62

@textbook It doesn't sound like much of a plan to me.  If you cannot afford to buy the freehold now put the purchase on hold until you have the resources.   

retiredbanker1

On top of previous replies you cannot use a personal loan to buy property - you need a mortgage.

MrFrugalFever

textbook said:

Don't like using these but may need some money soon to pay for my part of freehold.  Shall I just go to as many banks as possible and apply?

I'll try bank loan first but if that fails.   With bank loan I found if I don't say I have one dependent and up my income a bit they accept

Interesting, 'Obtaining credit by deception' amounts to fraud under the Crime & Theft Act 1968.

 I would seek a) legal advice and b) financial advice for what you are intending to do. 

textbook

CliveOfIndia said:

textbook said:

With bank loan I found if I don't say I have one dependent and up my income a bit they accept

You mean committing fraud?  Not the brightest of ideas.

That aside, it's not a good idea to put a large amount of money (well, any amount of money, really) onto a credit card without the means to repay it.  Unless you pay the balance in full at the end of the month, you'll end up paying shed-loads of interest (unless you're able to get a 0% promotional rate, with a high enough limit).

And that's even if the freehold owner would accept payment by card.

And if you're finding you can't get accepted for a loan, there's a fair chance you'll get the same response from credit card issuers.  Or, if they do give you a card, there's a good chance they'll offer a low limit and a very high rate of interest.

Bank loan better?  I'll get my money back easily if I an a freeholder rather just Leaseholder