Why cant i get a travel credit card?

Kiwi4me

Hi all. I have recently used the eligibility credit card calculator to try and apply for a travel credit card to use for an upcoming holiday. Alas the calculator said i have 0% chance of getting a travel credit card.
My credit report is great on Experian and Equifax and i currently have 2 credit cards that i use as normal and pay off in full every month, so I'm a little confused why I have 0% chance of a new travel card. Is there a limit on the number of credit cards you can have? 
I have recently retired and I am wondering if this is a contributing factor in my chances of a new card?
  

Brie

You can have as many cards as your income and the banks will allow.   The thing is to find the balance.  So yes being retired might have something to do with it, particularly if your income has gone down.  They won't know or care if you've got lots of savings that could sustain you for the next 100 years.

And think about what credit you already have available.  You have 2 cards - even if you aren't using them or you are and are clearing them every month they do present a bit of risk.  Likewise any overdraft.  Even if you don't use it. 

Do you pay for your insurance in one go or on a monthly plan?  What about a phone contract?  These are credit agreements.  

And are you registered to vote?  That helps show you're stable apparently.  No matter what party you might vote for!

Olenna

118 118 Money is generally a sub prime card but is forex free on spends. Worth considering if you'll clear it each and every month. 

la531983

Why does it have to be a credit card? 

Plenty of debit cards out there with 0% fees on overseas transactions. 

Cisco001

Debit card from Chase current account could be a good option

jbrassy

la531983 said:

Why does it have to be a credit card? 

Plenty of debit cards out there with 0% fees on overseas transactions. 

If you rent a car abroad you will be probably be required to provide a credit card for the holding deposit. 

lr1277

I use the MSE Credit club to get my reports. Until some time ago, they used Experian as the data source. According to the Experian sourced data I had a great credit score, if memory serves 970+. But I could not get a credit card because my income is not there. I too was borrowing and paying off on time and within limits which explains the great credit score. A great credit score does not reflect your income. However the credit report did show I was offered no cards as pre-approved beacuse of my lack of income.

You say you are recently retired. How long ago did you retire? Have all your income streams come online? For example are you getting a private pension and a state pension? Any other sources of income?

Did you retire early? Are you drawing down your pension (I don't understand this entirely but other posters say this and then say they can't get various financial products because they can't show an income)?

If you are confident you are getting your 'full' income in retirement, then you could also check if you meet the minimum income requirements for your chosen card. Into google type:

[card name] minimum income required

born_again

lr1277 said:

I use the MSE Credit club to get my reports. Until some time ago, they used Experian as the data source. According to the Experian sourced data I had a great credit score, if memory serves 970+. But I could not get a credit card because my income is not there. I too was borrowing and paying off on time and within limits which explains the great credit score. A great credit score does not reflect your income. However the credit report did show I was offered no cards as pre-approved beacuse of my lack of income.

You say you are recently retired. How long ago did you retire? Have all your income streams come online? For example are you getting a private pension and a state pension? Any other sources of income?

Did you retire early? Are you drawing down your pension (I don't understand this entirely but other posters say this and then say they can't get various financial products because they can't show an income)?

If you are confident you are getting your 'full' income in retirement, then you could also check if you meet the minimum income requirements for your chosen card. Into google type:

[card name] minimum income required

A great credit score means nothing to a lender as they never see it...

Income against available credit & affordability.

Nasqueron

lr1277 said:

If you are confident you are getting your 'full' income in retirement, then you could also check if you meet the minimum income requirements for your chosen card. Into google type:

[card name] minimum income required

This information is not in the public domain, at best it's a guess based on user submitted data and cannot be relied on

MyRealNameToo

jbrassy said:

la531983 said:

Why does it have to be a credit card? 

Plenty of debit cards out there with 0% fees on overseas transactions. 

If you rent a car abroad you will be probably be required to provide a credit card for the holding deposit. 

But that doesnt need to be charged, if you incur fees ask them to put it to your debit card. 

Kiwi4me said:

Hi all. I have recently used the eligibility credit card calculator to try and apply for a travel credit card to use for an upcoming holiday. Alas the calculator said i have 0% chance of getting a travel credit card.
My credit report is great on Experian and Equifax and i currently have 2 credit cards that i use as normal and pay off in full every month, so I'm a little confused why I have 0% chance of a new travel card. Is there a limit on the number of credit cards you can have? 
I have recently retired and I am wondering if this is a contributing factor in my chances of a new card?
  

If any of the cards you are interested in have their own soft application checker you are much better off using that as a way to gauge if you'll be accepted than the random number generator on third party sites. 

lr1277

Nasqueron said:

lr1277 said:

If you are confident you are getting your 'full' income in retirement, then you could also check if you meet the minimum income requirements for your chosen card. Into google type:

[card name] minimum income required

This information is not in the public domain, at best it's a guess based on user submitted data and cannot be relied on

In my experience usually the information is in the public domain; I think all bar one of the cards I have asked about a figure has been returned. I don't remember the card where it was not returned. Nor do I know if the figure provided by google has been altered/guessed in any way by AI.

But for example if I type into google:

First direct credit card minimum income

The AI summary says the minimum income is £6800 or more before tax.

In the associated link, you are taken to a First Direct web page (admittedly for a balance transfer credit card), and in the list of requirements it is stated you must have an annual income/pension of £6800 or more.

There is also the site finder.com which sometimes tells you the minimum income. This site lists various credit cards and gives bits of information about each card.

Into google type:

Finder credit cards

On the resulting page you can enquire further about credit cards applying certain filters.