What happens if you lose your job when you have applied for a credit card?

Question

i have applied for a credit card and i told them that i had just been hired. i was there 2 weeks and they ended my contract. do i have to tell them i am now earning less and can i still use the overdraft they have given me?

Answer 1

You apply for another job.

Answer 2

if you explain to them they'll be able to help you, it's a very bad idea to use your credit card if you don't have any money coming in to pay it back

Answer 3

No, that's fine. Don't tell them.

Although, if you apply for another card within the next 6 months...you might be refused as they might think you keep lying your application.

Credit history is now all cross linked with your direct debit (british gas, bt...), credit card, bank card, standing order...

Check your credit file here:

http://www.financecomparator.co.uk/credi...

Answer 4

In the small print it will often state that you must inform the company if your circumstances change. However, if you live within your means and feel confident that you can manage without overspending I wouldn't worry too much about it.

Answer 5

They don't even check! you just still pay ur bill so u don't get bad credit!

Answer 6

You don't have to declare anything.............. you told the truth when you applied.

Only keep the card if you can afford to use it !!!

Answer 7

If it says in the small print that you must notify them, then do.  Otherwise, no.  But manage without using the credit card at all until your circumstances improve, and pay in full anything due when you get your bill.  That way, you won't have a debt spiralling out of control.  When you have a new job and regular money coming in, then it is safe to use the card again. You can afford it then.

Answer 8

You tell them your situation has now changed

Answer 9

its called personal responsibility Its up to you to manage your finances if you think you will be able to keep up payments use it otherwise don't.

Answer 10

at the date of you sending in the application you circumstances were true then it really doesn't matter...they don't really care of anything that happens after you have signed up for it