I'm having a slight cash flow problem at the moment as i am getting a scholarship from my course, but have only just realized that i do not get the first installment of it until December. i had counted that into my finances and am now finding myself rather short this term. I have calculated my spending and am realizing there will be a few weeks before my scholarship comes through where i may end up having no money. I figured a credit card would be a good way to tide me over through this time.
(before people start telling me that credit cards are a bad idea, i assure you that i know what i'm doing and will more than be able to afford to pay back the money i borrow quickly. so please don't rant at me about how credit cards work because that's not what i'm asking. i have a cash flow problem, not a budgeting problem.)
my issue is that all cards i can find seem to require you to have a regular income, even student credit cards, when surly the majority of students have no regular income (as student loans, bursaries, scholarships and holiday work do not count). i have my account with nat west but when i used the 'see if your likely to be approved' tool, it told me that it was unlikely.
i have had an overdraft for years and have regularly gone into it and paid it off within the month, meaning i should have a decent credit score.
i am apprehensive about applying for cards all over the place, as i am told that unsuccessful applications show on my credit report. i am wondering if anyone, in a similar situation, has been approved for a card recently or can offer any advice on what my best bet is for approval. i really do not need to borrow more than a couple of hundred pounds, and i will pay it of within a month, so low credit limit, and high APR are not of particular concern to me. Im just looking for one i am likely to be approved for.
if it helps i am 22 and live in the uk.
most likely student credit card to be accepted for
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- 30-09-2016 10:34
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- 30-09-2016 10:40
The best ones tend to be with the bank you are at, assuming you have managed your accout properly. You cna also ask them to increase your o/d
If not, then builder credit cards who are for people with poor credit ratings or incomplete data. They are the ones which have the chance of you being accepted, but offer the worst terms. They should cover you easily. As they range from £150-350 starting.