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No Credit Credit Card

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  • 08-05-2006 11:55am
    #1
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭


    Hi,
    I'd like to get a Credit Card, the problem is, I've been in college for the past year and I haven't had a steady flow of income into my bank account for about 2 years at this stage. I have no official (from an establishment) history of debt but my bank account was in minus figures there because it was empty and it was charged with yearly ATM fees etc.

    Is there any way I can get a proper VISA card? I don't want it to work off a credit scheme, just have money in my account and if I don't have enough in my acc for the transaction, it wont complete. I know there is the 3v vouchers available, but the problem with these is they expire after 2 months and you need to get a new number etc.

    What's the story with student credit cards? Do they need a credit history etc?

    So basically I'm just looking for a normal credit card, don't care about APR etc as I wont be spending what I don't have, that will last for years and I'll be able to keep the same number. I'm a student and haven't used my p45 for about 2 years.

    Is there any way I can get one? Even if I have somebody who can sign something saying they will repay if anything goes wrong, which it wont but it may be necessary to have a guarantor?

    Any feedback would be appreciated:)


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    #2
    Ruu_Old
    Closed Accounts Posts: 36,634 ✭✭✭✭Ruu_Old


    Get someone to get you a credit card, and you can be the co-signer. It will give you as much power as they have and will build your credit if you make at least the minimum payment each month. I dont know about Ireland, but in the US I have a "secured" credit card because I have no credit history here. Basically you put a minimum of $500 down (that acts as your credit limit) and security for the bank if you fail to make your payments. They build credit much faster than normal credit cards.

    Also consider getting out a small loan, paying it out over the year, make your payments each month on time and you will notice the credit card companies coming to you with pre-approved credit cards, but dont get carried away :)Another good way of building your credit.


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    #3
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭cormie


    Can one person own 2 credit cards?

    Do you reckon if I take out a loan, and just not spend any money, but keep it in another account earning interest, and just pay it back when payment is due, that I would get offers of pre approved credit cards? So basically all I'm borrowing money for is to pay the loan back:rolleyes:

    I like the sound of the $500 down option. Is this available anywhere here do you know?


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    #4
    Ruu_Old
    Closed Accounts Posts: 36,634 ✭✭✭✭Ruu_Old


    You can own as many credit cards as you want afaik. I know my inlaws own about 5 each, which is absolute sillyness. I dont think they even use them! I dont think the credit authorities look too highly on this, even if you do make your payments. Its like "ok wtf are you doing with so many credit cards, eh gambling problem or shopping debt?" :) Believe it or not, there are some people who get a 2 credit cards, max one out..then use the credit off the 2nd one to pay off the 1st one and so on :)

    When the credit guys take a look over your report and see that you have a "history" (example: you have paid your balance off every month, for 12 months). They will look highly on this. I dont think secured credit cards are available in Ireland. If you are still a student then I would suggest that you go check out the banks student credit cards, I dont see any reason they would turn you down. Do ask the bank, sit down with someone and ask them all you need to know, they will work with you. Explain to them you are trying to build up your credit.

    It is very frustrating indeed. I spent forever trying to get some sort of credit history. I took out a loan of $1,200 (thought I needed it, but ended up not needing it, so it went into my savings account) paying it over a year and have my secured credit card and am using that.


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    #5
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭cormie


    hmm ok, you reckon a bank would listen to me even though I've no income going into my account?

    I could always get my dad to get a 2nd one which I would take care of. Would he need to set up a new bank account and everything? I'm sure he wouldn't want it connected to his account. But that sounds unlikely:(


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    #6
    Ruu_Old
    Closed Accounts Posts: 36,634 ✭✭✭✭Ruu_Old


    If you are a student, then get a student credit card, otherwise you will have to get a co-signer if you have no income.


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    #7
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭cormie


    cool, I'll look into that so:) If anyone has any other tips, please share!


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    #8
    Debracd
    Closed Accounts Posts: 471 ✭✭Debracd


    Would you consider a 3V card instead? You top up like a mobile phone and can only spend as much as you have. I cut up my cards and got one of them instead. Great for buying online!

    You could try a debit card like Laser either, again you can't spend what you don't have :)

    Deb


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    #9
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭cormie


    Yeah The 3V's are a great idea, but I'd prefer a card with a number that will remain the same. Laser isn't really an option either:o


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    #10
    Debracd
    Closed Accounts Posts: 471 ✭✭Debracd


    Ahh no prob so :) Best of luck getting what you need;)


    Deb


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    #11
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    cormie wrote:
    Yeah The 3V's are a great idea, but I'd prefer a card with a number that will remain the same. Laser isn't really an option either:o


    Why isint Laser an option? You want to be able to buy online or what?

    I find my Laser great, I have it with my 3rd level student account. If theres no cash in my a/c, the transaction is declined, so I cant get in debt (I purposly dont have an overdraft facility)


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    #12
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭cormie


    Laser wont be accepted for a lot of things I want to use it for.:(


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    #13
    Culchie
    Registered Users Posts: 5,047 ✭✭✭Culchie


    Cormie, have you set up a neteller account? I can guess what half the usage will be for :)

    This allows you move around money freely, and then just lodge to your bank account as and when you wish.


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    #14
    cormie
    Registered Users Posts: 20,835 ✭✭✭✭cormie


    hehe;) yup, I have a neteller account, but it's still not for poker I need it. Just for things like renewing subscriptions etc, having a credit card with a permanent number is a lot less hassle:)


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    #15
    smiling_time
    Closed Accounts Posts: 81 ✭✭smiling_time


    cormie wrote:
    hmm ok, you reckon a bank would listen to me even though I've no income going into my account?

    I could always get my dad to get a 2nd one which I would take care of. Would he need to set up a new bank account and everything? I'm sure he wouldn't want it connected to his account. But that sounds unlikely:(
    banks listen to you? first lesson about banks,,, they are nothing but ba5tard5!

    Yeah get your dad to get the card for you.


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