Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

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By sammie
#4944 hi just wondering if anyone has managed to get a credit card after discharge?
( no i dont want to get myself into debt again, its just handy to have for emergencys, and paying for things on the internet. paying by postal orders is costing me a fortune!)
By Jackie
#4946 do you have a visa electron card as this is widly accepted over the net
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By sammie
#4950 no Jackie i havent.
but i would want a credit card for emergencies like washing machines, etc
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By JaneClack
#4952 Do not go for the Vanquis card with its extortionate rate of interest!

To get a reputable credit card is going to take some time - and applications early on will be looked at later and lenders will wonder why an attempt was made so early. Stick to the cash at the moment - it is safer!
ByDavidc
#4966
Sarah wrote:Do not go for the Vanquis card with its extortionate rate of interest!

To get a reputable credit card is going to take some time - and applications early on will be looked at later and lenders will wonder why an attempt was made so early. Stick to the cash at the moment - it is safer!


You will only get a card that you have to load with a credit balance Capital One now offer one to discharged bankrupts with no CIFAS entries against them. but the limit is the credit you put on it ie £200...
Best put your £200 in a woolwich cardsaver account and get an electron card and 5%
The Vanquis card is an attempt by the Provi to get in on the plastic act.
I understand that they call at your house and collect the money weekly. I would be embarrased to have one.
David
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By JaneClack
#4971 But really after just coming out of bankruptcy it is not a sensible thing to do anyway.
By Jackie
#4979 Don't put temptation there if they wont except a electron card or Solo you don't need it
By skint1
#4980 Think carefully before trying to get a credit card.
It takes time to get use to using cash but it would be better for you in the long run.

Anyone who would give you a credit card is going to charge ridiculous interest.
It would be terrible to get stuck in the trap of paying loads of interest off after you have got a fresh start.

For the internet you could use something like paypal instead of a creditcard or electron card.