How are my chances? (obtaining a credit card)

Chessala

Heya,

I was wondering. I have a full-time job with 22,5k of income + bonus (not grand but not too bad either imo). I recently was allowed an overdraft on my AIB account and that's great already.

However, I was wondering how my chances for a credit card are? It's not just for online shopping in general but it's to have a security if things get rough (so Visa Debit+ prepaid don't really do the trick =P) and to know I won't be without anything if a month is bad. I was made aware of that recently when my car had problems and I had literally no food for over a week at the end of the month.

But yeah, I have a monthly rent of 350€, around 20-30€ a month electricity, no loans but my problem is I have no credit scare whatsoever....

Any ideas?

Mr. Presentable

Chessala wrote: »

Heya,

I was wondering. I have a full-time job with 22,5k of income + bonus (not grand but not too bad either imo). I recently was allowed an overdraft on my AIB account and that's great already.

However, I was wondering how my chances for a credit card are? It's not just for online shopping in general but it's to have a security if things get rough (so Visa Debit+ prepaid don't really do the trick =P) and to know I won't be without anything if a month is bad. I was made aware of that recently when my car had problems and I had literally no food for over a week at the end of the month.But yeah, I have a monthly rent of 350€, around 20-30€ a month electricity, no loans but my problem is I have no credit scare whatsoever....

Any ideas?

If things are already tight, last thing you need is a credit card debt. I'd leave it.

unclebill98

I agreed, don't get one.

If you want online shopping get a visa debit from UB or ptsb.

chris85

If just for online shopping the visa debit card is a good option which only uses the funds available in your current account.

Unless your require the "credit" then really no need for it.

That being said i have a CC and use it for same reason and dont really need the credit. Makes it a little easier if i need something in an emergency there and then i can put it on the card and transfer money from savings to clear it.

Dont like using it much.

Chessala

It would be the "credit" aspect. I know it's not a good aspect to get it when you are tight already but it especially for those emergencies that I would like to have it.

Also usually not that tight that I wouldn't be able to pay a cc bill, defo not planning on just maxing it.

MagicMarker

OP, you're taking home probably about 1600 after tax per month, minus rent of 350 and let's say food of 200. That leaves you 1050 to cover everything else.

You don't need a credit card, you need to start managing your money better for times when you have car trouble etc, if things are tight with over a grand to play with every month then you're doing something wrong.

Chessala

I do have some more expenses then that and I am saving already, dor various reasons it's not as much as I'd like to though atm.

I do keep a good tab on the money I have and haven't bought one piece extra ever since I was employed =/ (literally, except if you tell me that a bottle of a soft drink a week is too much)

stepbar

I don't see why a limit of, say 500 eur, wouldn't be possible. If AIB have extended you an O/D facility, I do not see why they wouldn't give you a credit card.

Darragho

MagicMarker wrote: »

OP, you're taking home probably about 1600 after tax per month, minus rent of 350 and let's say food of 200. That leaves you 1050 to cover everything else.

You don't need a credit card, you need to start managing your money better for times when you have car trouble etc, if things are tight with over a grand to play with every month then you're doing something wrong.

Op,

I agree with MagicMarker, stay well clear of credit cards, I got one about 15yrs ago and like that at the time did not need one as things were going very well for me financially good job etc etc, few years past 10yrs to be exact and things started going pear shaped so started to use it more and more in saying that I was paying it off in full every month so still no issues, thereafter i was paying it off here and there and due to I paying always in full every month the bank UNKINDLY gave me a credit limit of 15K and thus to make a long story short I maxed it out.

lots of pain paying in back and still paying dearly i never want to see a piece of plastic again in my lifetime I am only 35 and feel like 80 from all the stress of it fool I was.

PLEASE PLEASE stay clear of the Plastic they should be banned

Wats_in_a_name

Darragho wrote: »

the bank UNKINDLY gave me a credit limit of 15K and thus to make a long story short I maxed it out.

PLEASE PLEASE stay clear of the Plastic they should be banned

Typical Irish attitude. The bank didn't force you the credit limit. You could of rang up and asked for lower.

Credit cards are brilliant tools for saving money and when used intelligent they're a god send. So far this year my credit card has saved me over €200. Hows that bad?!?

dotsman

Why is everyone either ignoring the OP or treating her in a condescending way?

Firstly, she wants a credit card, and specifically not a debit card (and people wonder why the financial services industry is rife with misselling!).

Secondly, she is asking what the chances of her application being approved, not whether or not she is responsible enough to have one.

OP, I'm afraid nobody here will be able accurately predict your chances. Best bet is to just apply and see for yourself (worst that can happen is that they say no). You mention you are with AIB, if so, I think you can apply from your internet banking (but I've never tried it)

You don't say what age you are or chances for promotion/career progression etc are. @22.5K + bonus, you should be able to get a card, the only problem might be that as you already have an overdraft, they may feel you have enough credit for the moment. How long have you had the overdraft and how have you been operating it (ie are you dipping into it every month or just the odd occasion?) Are you clearing the overdraft every payday? You imply that you do not have any record with the ICB - that's neither a plus nor a negative. Do you have any savings or are you attempting to make any regular savings? Ultimately, it will be these 4 things that will determine whether or not you get approved.

With regards you financial situation, it is imperative that you start saving immediately. You mention about things "getting rough". The problem with life is that, "rough months" are all too common. Trust me, there are always some unforeseen expenses, something breaking down, something getting lost/stolen, getting sick or having an accident with the associated medical bills, a sudden toothache turning into an expensive trip to the dentists, losing your job or having reduced hours/wages, a busy few months with regards friend's/family's birthdays/weddings etc.

It's ok to have an overdraft/credit card for emergencies, but the above are not emergencies. They will happen, the only thing you don't know is when and how expensive they will be. Best advice there is to assume the worst - hope for the best. Start putting away €50-€100 a month into a savings account and try to build up the equivalent of a months salary over the next year or 2. Let that be your buffer for any unforeseen expenses and really only rely on credit for the true emergencies (ie, when 3 or 4 of those unforeseen expenses all happen in the 1 month - which will happen!).

Overdrafts/credit cards are nothing to be sacred of - as long as they are used correctly, they are brilliant.

Andrew33

^^^^
Women should never be allowed have a credit card, they just don't have the sense to use them properly.
First pair of nice shoes they see the card'll be whipped out.
I agree with poster above, credit cards should be discontinued, the whole easy credit thing has got us into the mess we're in.
If you don't have it, don't spend it.

j4vier

op im not sure of what are the chances of you gettin one
if you were a student you could get a credit card with a 500e allowance, but if ur not a student the rules change completely
all you can do is apply with different providers until you can get one, a credit card is actually a good way to keep track of how much you spend
since you can view it all online

MagicMarker

Wats_in_a_name wrote: »

Typical Irish attitude. The bank didn't force you the credit limit. You could of rang up and asked for lower.

Credit cards are brilliant tools for saving money and when used intelligent they're a god send. So far this year my credit card has saved me over €200. Hows that bad?!?

How has it saved you money?

cork_buoy

I don't think you'll have a problem getting a credit card. I have a limited disposable income... so I have O2 money card. It's more expensive than a regular card but if I don't have it, I can't spend it.... and that suits us down to the ground.

If however, you're diligent and responsible with money you will have no problems. The last thing you want is debt worry and credit cards have a tendency to add to that.

orchidsrpretty

my brother is in similar circumstances as OP He applied for a MBNA and was refused. Only reason he could think of was ne had no credit history. He took out a small loan, reapplied and got the credit card.

Wats_in_a_name

MagicMarker wrote: »

How has it saved you money?

Tesco Clubcard one. Swapped the clubcard vouchers for advance pitstop and got my car serviced for free instead of €200. So thats €200 saved. Doesn't take into account the ~€3,000 extra I have had in my saving account for the last 8 months because of the interest free period. So thats another €50 or so.

MagicMarker

Wats_in_a_name wrote: »

Tesco Clubcard one. Swapped the clubcard vouchers for advance pitstop and got my car serviced for free instead of €200. So thats €200 saved. Doesn't take into account the ~€3,000 extra I have had in my saving account for the last 8 months because of the interest free period. So thats another €50 or so.

huh? What's a tesco clubcard got to do with a credit card?

Also, you could have serviced your own car for €50, if that. If anything you wasted 150 quid giving it to advanced pitstop.

Wats_in_a_name

Tesco Clubcard Credit Card.

Also, I do service my own car but wanted it to be completely checked over which you need a proper ramp for so I always get it service by a mechanic every second or third time. So no I didn't waste €150.

MagicMarker

Wats_in_a_name wrote: »

Tesco Clubcard Credit Card.

Right well you didn't save any money because of a credit card, you saved it because of a clubcard, which anyone can get. So it's a little disingenuous to say otherwise.

Wats_in_a_name

What are you on? Tesco Clubcard Credit Card is a reward credit card just like the pigsback one. If I didn't have that credit card I wouldn't have saved the money. Take away the reward part I still saved €50 by having €3,000 extra in my savings account. Clearly you have a disliking towards credit cards but if you are responsible and use them correctly they're brilliant.