Think you could be turned down for a credit card because you have bad credit and you work part-time? Here’s all you need to know about applying and finding the right deal for your situation.
Don’t miss out on part 1 of our guide, you can read it here.
39.9% APR Representative (variable)
Intelligent Lending Ltd (Credit Broker). Capital One is the exclusive lender
Have a look on some of the credit card comparison websites and search to find the products that best suit your needs and circumstances. Remember, the really great offers will only be available to those with perfect credit histories so if that’s not you, it makes sense to save time by not applying for these.
Look for cards that accept people with a lower income or who work part-time. Credit card providers often won’t explicitly tell you their criteria, so it’s worth doing a check to see if you’re likely to get accepted before you apply. Using Ocean's QuickCheck facilty will do just that and won't affect your credit rating.
Be aware that each time you apply for a credit card, this shows up on your credit history - so if you make lots of applications within a short space of time, this may make you appear ‘desperate’ for credit in the eyes of the lenders. Eligibility calculators only run a soft search that doesn’t show up on your credit history, so it’s best to do this before you start applying.
If you’ve had problems managing credit in the past – for example making late payments, or having defaults or CCJs registered against you - this can make it even harder for part-time workers to get accepted for some credit cards. You’ll find that the range of cards available to you is a little smaller - but you may still be accepted for some cards that cater for people with bad credit.
If you want to improve your credit history this can take time, but there are a few things you can do straightaway. Sign into your credit report through one of the main credit reference agencies (Experian, Equifax or CallCredit) and check your name and address are up-to-date. You should also check to see if there are any errors on your credit history and if there’s anyone you’re ‘financially linked to’ who you shouldn’t be (such as an ex-partner or previous flatmate). If you’re looking for more tips on improving your credit history, check out our guide on the subject.
Another way that you could improve your credit history is with the Ocean Credit Card. It’s a card specifically designed for people with bad credit and can make it easier to get back in control of your borrowing. And because the card has a relatively low initial credit limit, you shouldn’t be able to borrow more than you can afford to pay back.
By just borrowing small amounts on the card and paying it back in full or making the minimum payment required on time every month, you’ll be able to demonstrate to lenders that you’re able to use credit responsibly. Over time, this could help improve your credit history and your chances of being accepted for credit in the future.
The Ocean Credit Card has an interest rate of 39.9% APR representative variable and comes with an initial credit limit of £200 to £1,500. The credit limit you are offered will depend on your credit history, but don’t worry if you get a lower limit than you were hoping for. Use the card responsibly at the initial limit – making sure you pay it back in full every month – and you’ll be offered up to two credit limit increases a year.
If you’re looking to find out a bit more about the Ocean Credit Card or you want to sign up, you can apply online.
39.9% APR Representative (variable)
Intelligent Lending Ltd (Credit Broker). Capital One is the exclusive lender