credit card query

Lozz

Hi Everyone,

I've been reading all the threads over the past few weeks with interest, and must admit getting some revenge on the CC companies sounds tempting after all they've had out of me and my hubby over the years  :)

Anyway my query is that most days I get offers through the post for credit cards with o% offers which until now have all been filed under B for bin. I don't work as we have a disabled child but hubby works earning approx 40K a year and I get carers allowance. If I applied for a card in my name do you think the CC companies would turn me down due to my income, or would they take our joint income into account. We already have a Virgin card which we pay off in full each month plus hubby's trusty Barclaycard which is clear, but they are both in his name. I haven't applied for a credit card for over 15 years now so am not sure whether it would be ok to apply in my name.

Thanks to anyone who can help me with this  :)

Lozz  :)

Tim_L

If you do get cards, the limit you'll get will be too small for meaningful stoozing (judging by my wife's experience when she was not working). On say a £1000 limit, you'd make around £50 a year which although free money is not a great return. It would be much better to persuade your husband to to participate, in which case it should be relatively easy to get credit limits of something around £25K via Egg, Halifax, MBNA, etc which is much more worthwhile - £1250 a year profit.

Obviously all savings accounts used to stash the stoozed cash should be in your name as you can apply for interest without tax deducted.

Debt_Free_Chick

I suggest that your husband applies for a new card, as he's likely to get the bigger limit. Try MBNA as it's a SBT card, which you need for Stoozing, they give good limits, 0% for 9 months and you can manage the card online.

You can then set up his card online and do the stoozing from his card, to your account and then to a savings account in your name.

The alternative is for hubby to add you as an additional cardholder - but not sure if the additional cardholder can manage the whole of the account online. Some cards do not allow this - not sure about MBNA.

Buy you could just do the Stoozing on your hubby's account and get the same result. But make sure the savings account is in YOUR name.

HTH

Lozz

Hi,

Thank you both for your advice, we decided to go for it and you're both right, we applied to Egg online and hubby got 15 times the amount I did ;D still never mind every little helps. Re: the savings account, we have an all in one joint mortgage account so will be using that, just on what we got yesterday we'll be saving 11.5% on our interest each month it's in there.

Thanks again for your help