credit cards when IVA cleared?

[CAROLdC]

CAN I GET CREDIT CARDS AGAIN WHEN IVA CLEARED

[kallis3]

Hi Carol,

Your credit record will be shot for 6 years after your IVA has been accepted.

After that, you can try for a credit card but you will probably find that the only ones you will be accepted for will be those with very high interest.

[LoneRanger]

You might have difficulty getting one for a while but you would be able to eventually if you really wanted one after an IVA

[123debtsolutions]

You can get pre-paid credit cards. These are VISA and are recognised worldwide.
You can also in most cases have a debit card.
Hope this helps.

[orchid5]

Carol, would you really want a credit card after an IVA I'm in my second year of an IVA and at this moment in time have no intentions of even applying for one once my IVA has completed that was how i got into this situation in the first place. I look forward to the day when the amount that i am currently paying to my IP being in my bank account to do with what i want.

Take care and be safe.

[MelanieGiles]

Carol asked whether it is possible for her to have a credit card, and the answer to that is yes - usually once the credit rating has restored after the six year point. I am sure that Carol fully intends to use a card sensibly in the future - who would want to go through all of this a second time around?

[Maz]

I am terrified of having a credit card again and I still get letters to apply for one, like the one I received today from Capital One. I am into my 2nd year of the IVA so hopefully in 6 years time will have a more sensible attitude to them and certainly do not want to go through all this debt again! My loans have never been a problem it was only the credit cards that got me into the debt mess.

[Julie]

I'm sure I read on here before, thats its wise to get a credit card just to build up your credit rating again. Just using for small items and paying off in full will help especially to get better mortgage deals in the future. Am I right?

[kallis3]

It will build up your credit rating. It would be best to have one with a low credit limit. We all know how tempting it can be to go out spending.

[plasticdaft]

A low limit and a really crap interest rate should be enough to put anyone off using it too much!!