twobears Posted April 16, 2015 Share Posted April 16, 2015 This might be another of my silly questions but can you apply for a credit card if you have no income? I am not working at the moment due to ill health but my husband has a full time job. He normally applies for any credit that we need but I did apply for an interest free deal on a sofa and some other furniture from Next the a few week ago and they approved the request based, I am sure, on Mr Twobears' earnings. My current credit card provider (where I am the main card holder and Mr and Miss Twobears are named card holders) has just written to inform me that they will no longer be paying cash back from the end of next month so I thought I would swap to an M&S card instead so I could still get some rewards. I am sure that they would approve the application if Mr Twobears completed it but I would like a card account of my own and am also wondering if my credit rating will slip back to nothing if I have no credit in my name which will happen if I cancel my current credit card and pay off the Next interest free deal? Quote Link to comment Share on other sites More sharing options...
Ekona Posted April 16, 2015 Share Posted April 16, 2015 Of course you can apply for a credit card if you have no income. They'll just turn you down straight away. 2 Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 But will they? I am going to fill in the pre application form I've just found on Martin Lewis' website and see if I can find out that way.I thought that since I've had credit cards for decades and never missed a single payment (I pay off in full every month) that they might take household income into account? The credit card I currently have is in my name like I said so I am guessing I have a fairly ok credit record at the moment? Next didn't hesitate to give me a loan. Although, having said all that, I don't want to spoil my rating and that's why I asked the question Quote Link to comment Share on other sites More sharing options...
ioneabee Posted April 16, 2015 Share Posted April 16, 2015 AFAIK - if you get turned down ...... that will be on your credit history too Quote Link to comment Share on other sites More sharing options...
Ekona Posted April 16, 2015 Share Posted April 16, 2015 You might have a great credit record, but with no income they assume you'll never be able to pay it back. If you can pay it back with savings, then they'll simply wonder why you need a card in the first place. Trust me, this is a non-starter. 1 Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Andy, that's the thing that is worrying me. I don't want to get any black marks on my record but I don't want it to wither and die either. I wish the system was a bit more transparent. Will continue with the 'pre application' on Martin Lewis' site and see if I can find out without committing myself. Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Dan, do you speak from experience or do you work for a credit card provider? I'm quite willing to believe you because what you say makes total sense but I just want to check if you are absolutely certain Don't think it will harm my record to do the pre application check so will get back to that now Quote Link to comment Share on other sites More sharing options...
Ekona Posted April 16, 2015 Share Posted April 16, 2015 I tried once. No go. Hey, go for it and see, one turned down application will make zero difference to your credit score anyway. Bearing in mind that credit card companies are being stricter than ever, I just can't see this getting off the ground. Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Many thanks Dan. I do think you are right and if it has happened to you your evidence is very credible. I've almost finished the pre application thingy now so we'll see what transpires 1 Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Failed I am not eligible for any credit cards on the site. I think I'd better keep the one I have and get Mr Twobears to apply for the M&S one 1 Quote Link to comment Share on other sites More sharing options...
Fodder Posted April 16, 2015 Share Posted April 16, 2015 (edited) Any responsible lender will only give you credit if you have an income and an ability to pay off your debt. Being refused credit is quite serious from a credit rating from what I remember. are you sure you aren't a cardholder with Mr TB being the account holder? Edited to add clarity to a couple of points Edited April 16, 2015 by Fodder Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Fodder, I only did a so-called 'soft search' which, according to MSE, doesn't show up to the lender only to me if I look at my credit record, which is something I've never actually done to date. No, I am definitely the card holder and Mr & Miss TB the 'authorised users' on my account. I had my own limited company until just under two years ago and have a perfect repayment record. I pay by DD and always in full so I guess the CC companies don't make anything much out of me by way of profit, only what they charge the merchants? Mr TB has two further cards of his own as well as his company credit card but the one he uses most in the UK is mine so I guess I will be keeping it even though it is no longer financially attractive Quote Link to comment Share on other sites More sharing options...
Fodder Posted April 16, 2015 Share Posted April 16, 2015 Ahhh ok so your current account is based on your original application as a business owner. I think you will struggle as they will always want to know the income/means to pay for the account holder as they are liable for the debt. By the way this is my interpretation and could be off the mark. You need Mr TB to employ you as his chauffeur or start your business up again which from reading some of your posts is what you really want to do. 1 Quote Link to comment Share on other sites More sharing options...
Wasso Posted April 16, 2015 Share Posted April 16, 2015 I would have thought this question has been asked many times on the Martin Lewis site, did you not try there first? Us car folk do cars....... 1 Quote Link to comment Share on other sites More sharing options...
ATTAK Z Posted April 16, 2015 Share Posted April 16, 2015 Annie, if you remember, we had lunch with a member who worked in the credit/debit card field when you did a track experience at Elvington ... can't remember his name but I think he may be able to give good advice if you PM him 1 Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Fodder, Mr TB's main project manager is leaving and he says he thinks I could do the job really well but I'd have to, ahem, forge my CV as I've not got any formal qualifications. Don't think I have the nerve Ian, I did try on the Martin Lewis site and that's how I found out that I had failed big time I love that site but for once it didn't work for me. I can totally understand why I'm not credit worthy until get back to work and I'm really not enjoying being so dependent on Mr TB. Unfortunately, I've been in and out of hospital a lot recently and am just not well enough to work at the moment Hugh, I can't remember his name either. Two old duffers here If you remember please let me know Quote Link to comment Share on other sites More sharing options...
StevoD Posted April 16, 2015 Share Posted April 16, 2015 No imcome no new credit card ekona is on the money with this one 1 Quote Link to comment Share on other sites More sharing options...
StevoD Posted April 16, 2015 Share Posted April 16, 2015 Martin Lewis website i think has a like comparison thing on which then give you cards your likely to get accepted on so try that 1 Quote Link to comment Share on other sites More sharing options...
Ebized Posted April 16, 2015 Share Posted April 16, 2015 Just get a joint account and agree with Mr Twobears that he does not use his card and as long as you (er, the other half) have funds to make the monthly payment and jobs a goodun. We have a joint M & S credit cards - some good benefits particularly with their worldwide travel insurance and the perks they send through. 1 Quote Link to comment Share on other sites More sharing options...
twobears Posted April 16, 2015 Author Share Posted April 16, 2015 Thanks StevoD I tried that on the Martin Lewis site and was turned down for all the cards, even the ones for people with CCJs and I ain't never had one of those!!! I only did the 'soft search' like I said so no harm done to my credit record. Thanks Colin Definitely going to get the M&S card (as opposed to the S&M card, not a 50 Shades fan ) one way or another Quote Link to comment Share on other sites More sharing options...
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