Can you mix bad credit & debit cards?
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Written on: 10.11.2009 [12:08]
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Tail
Tail
Topic creator
Posts: 2
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I have a poor credit history & credit cards can be hard to come by. Is there a problem with bad credit & debit cards? Or can anyone open an account and get one? |
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Written on: 26.11.2009 [10:09]
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Naomi
Naomi
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There aren't as many problems with debit cards because the bank isn't taking a risk. If you have a credit card, you are able to 'borrow' money from the credit card provider, which you may fail to repay. This is why they are unlikely to accept your credit card applications if you have a poor credit rating: the risk that you won't repay the money is too high. When you have a debit card, you can only spend the money that you have available in your account. For this reason, debit cards present a much lower risk to the bank. Unless you have a history of serious money problems or crimes, you should be able to get a debit card! |
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Written on: 26.11.2009 [10:44]
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Jade
Jade
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It depends, have you filed for bankruptcy in the past? This will affect all your bank applications. But your best bet if you just have bad credit history is the NatWest Step Account. I know a friend of mine was able to open an account with them even though she had had bad credit history so you should be fine. They offer a debit card with that account. |
