Hi I am new to the forum and not that familiar with credit cards. I wondered if any of you could help me. I applied for my first credit card when I was working and now want another one. Due to a back problem I have become unemployed for the last two years. I do get a little income from our Uk incapacity benefits system. My problem is I have been spending money to buy a car and needed items for my house . I do have a good amount more in the bank no problem as when working I had saved well. So in the banks infinite wisdom they have decided to not
let me have a credit card because I am still registered as unemployed. I could easily just revert back to the benefits and make cut backs and not loose more money from my account eg if I only had 1,000 left I could then just stop spending hence a credit card could be managed if I spend small amounts. Incapacity benefit pays more than say job seekers allowance so I could pay them back by direct debit even. At this stage with the money I have saved over the years,from jobs,with relatively carefull spending I could pay them back for at least another 4 years by DD at the end of each month anyway!
To cut a long story short can I get a credit card ,which in view of me making a loss in my bank account monies for 2 years say, would still let me do this. They tend to look at your bank account going down in money and your employment status !
The problem is they look at the word unemployed and dont believe you will want to pay things back may be or will loose all your money fast?! This is not the case for me though.
I googled cards for the unemployed and looked at this link but am very dim when it comes to understanding the terms and conditions.Capital One Classic Credit Card
and the terms and conditions are- https://www.capitalone.co.uk/creditcards/secure/terms-and-conditions.jsf
The capital one card looks as if-see small print terms and condition- that it would be okay? I think from what I can gather it does not penalise you as long as you pay them back. Does it charge me interest on each transaction I make- high street, food shopping, online are what i'd use it for.
Thanks everyone. Is there a spell check on the forum I cannot see it. Apologies if spelling is bad!