Being unemployed doesn’t mean that you’ll automatically be declined when you apply for a credit card. But do remember if you’re considering applying for one of the high street 0% balance transfer offers or indeed a low introductory rate credit card, don’t be surprised if your application isn’t successful if you are indeed unemployed. Many people are turned away from credit card companies because a number of different reasons. For example, you may have been declined because the credit company have a specific target client group - like people who earn a certain amount of money. If you are on a reduced income or are unemployed it will invariably be harder for you to find a credit card company that will accept your application. And, it’s highly likely that if you’re application is accepted, you will pay a significantly higher rate of interest. Like with all financial products, there will always be a specialist lender out there that will have a more flexible acceptance criteria and will happily issue you with credit facilities. To cover the additional risk you pose to them as an unemployed client, you can expect to pay APRs that are in excess of 20%, sometimes in fact rates as high as 50%. You’ll probably only be given a low credit limit, this is to protect both you and the lender from spiralling repayment costs that you’re unable to meet.
Editors Choices
Four Credit Cards Designed For Bad or No Credit
No Credit Check Loans Up To £1000 Paid Today
Guaranteed Award Winning Prepaid MasterCards
The Vanquis Credit Card
 This card has been designed for clients with a bad or no credit history. Over 300,000 People have enjoyed the benefits of this card and are building their credit history.
Cashplus GOLD MasterCard
 100% Guaranteed acceptance. Use the card online, over the phone at ATM;s. Online management account and load funds on to the card for free.
My Payday Now
 Need up tp £1000 with no credit checks. Funds can be in your account the same day. If you have a debit card then apply today.
Provident Financial Loan
No credit checks. Loans up to £500 paid onto your own visa debit card or in cash. Loans can be repaid over a period of time.
The Capital One Classic Card
This card is ideal if you have had credit problems. Limits up to £2000 instant online decision. This is the most popular solution for getting your foot on the credit ladder.
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