Know if you're accepted before you apply with QuickCheck

  • Get credit - up to £1,500
  • QuickCheck won’t affect your credit rating
  • Get a fast response in 60 seconds

34.9% APR Representative (variable)
Intelligent Lending Ltd (Credit Broker). Capital One is the exclusive lender

Check Now

top

Can I get a credit card?

If you are out of work it can be harder to manage your finances: money is bound to be tight after all. Even if you’re living on Jobseeker's Allowance (JSA), Personal Independence Payment (PIP) or a partner’s wages, it’s likely that it will take you quite a long time to save up if you’re planning to make a big purchase, such as a fridge-freezer or new sofa.

For this reason, you might think about taking out a credit card to allow you to make the purchase and then pay it back every month in manageable sums. While it may be possible to get a credit card while you’re unemployed, it’s likely that the range available to you will be smaller. If you decide to take one out, you must be confident that you can make your repayments each month, otherwise you could find the bills quickly pile up, your credit history is affected and you’re left with a debt you can’t afford to pay.

top

Credit and unemployment

When using credit while you’re out of work, you’ll need to be really strict with your budgeting. You don’t have a steady income like you do when you’re working, so you’ll have to take a look at what you’re spending your money on every month and make sure that you’ll be able to afford credit card repayments on top of all your bills. Make sure you budget for your essential outgoings before borrowing anything, as you don’t want to be left short and have to miss a payment.

Some credit cards are only available to people with a job or who earn over a certain amount. That’s not to say there isn’t a card out there for you though – you’ll just need to be prepared to pay more interest or have a lower spending limit.

top

Finding a card for you

To find the right credit card for you, check out a card comparison website. It will be able to give you an idea of the current deals available to people in your situation. Armed with this information, you’ll have a better idea of the cards that are suitable, and so reduce the number of applications you make. Remember – making several applications for credit within a short timeframe can count against you by making you appear desperate to borrow. The best credit cards, which offer two years or more at 0% interest or rewards when you spend, are likely to be closed off to people without an income but that doesn’t mean you won’t be able to get a card that works for you.

When you’re unemployed, it’s best to get a card with a low credit limit, because you are unlikely to be able to afford large monthly repayments. It’s unlikely that you’ll be accepted for a card with a large credit limit anyway, but you should still be careful with the credit you do have access to so that you don’t borrow more than you can afford. 

Read more in part 2 of our guide here.

Know if you're accepted before you apply with QuickCheck

  • Get credit - up to £1,500
  • QuickCheck won’t affect your credit rating
  • Get a fast response in 60 seconds

34.9% APR Representative (variable)
Intelligent Lending Ltd (Credit Broker). Capital One is the exclusive lender

Check Now