hey

I've read loads of info and forum posts about credit cards but i still cant quite grasp what i would be looking for, so i was wondering if someone could help me?

im a single mother, so im on benefits (equaling out to nearly 500 a month) and my boyfriend lives with me tho he doesnt bring in any money.

i recently just went over my £500 overdraft and now have no money.

i was wondering if i got a credit card i could pay off my bank overdraft then pay up the credit card. but i dont know if thats a good idea?
i would like to be able to buy new things and pay them up too, as thats the only way i can have new things in my situation.

do you think a credit card is an option? and if so what one?

i would really appreciate some help

thanks
Pauline
x

At the risk of getting my head chopped off....get a job. Tell your live in boyfriend to get a job too. That's how you get new things.

You don't need a credit card. You need an income.

yeah your right - coz i would like a job. But i cant get a job that would get me enough money to keep a house and child. not everyone can get a well paying job.
i've already looked into work and college but it would leave me in a state of needing to move home with my dad etc.

i was only asking for help on the fact of a credit card.... not anything about income.

Sorry pauline - that's probably a very bad move.

Interest rates on credit cards are usually much higher than authorised overdrafts, so it would likely be a case of out of the frying pan, into the fire...

Accer is actually right - Working Families Tax credits could actually work for you really well here - basically, even if your boyfriend was on a really low income, tax credits would boost it something chronic. Then if he's bringing in money, it can help free up your own income so that you can spread it around more.

I know you said it's not a question of income - but actually it is. You have your overdraft either because of insufficient income, or else insufficient budgeting, and by asking about credit cards it suggests to me that you're on the brink of hitting a really bad debt road - all it takes is a few steps in the wrong direction. If you're boyfriend worked and you were eligible for tax credits, you could address the income issue and worry less about budgeting.

2c.

You might consider negotiating with the bank regarding the fees. If you haven't gotten other breaks from them, they may be willing to take some (probably not all) of the fees away.