IVA started Jun 14, full and final offer accepted July 15. Completion certificate received in Oct 15. Vanquis, Cashplus credit card companies are starting to me and telling me that I have been approved for there credit cards. Any advice would be welcome.
A card is always useful for giving protection for certain purchases.
Also gives a buffer if needed but critical that always cleared down.
Use of a card will also help improve credit rating but make sure your credit limit is not too large.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
As stated - the card will be useful in building up your rating but do make sure you pay your balance in full every month so that you don't get charged the high rates of interest.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I got a Vanquis card after my f&f and about 6 months after paying it off in full each month, I got a c/card from my bank which surprised me. So dont just think the bank wont give you one.
IVA now over with and it was worth it.
now starting my life again,
If the IVA is still on your credit report (albeit paid off), you will be looking at subprime like aqua or vanquis. There have been some decent reports about them on here. If your credit file is clear (over six yearss since IVA start), I would apply for a mainstream card immediately. I was given Visa and Amex from a previous creditor without any bother.
I would be nervous of using a credit card. I understand you might want to try and rebuild your credit rating but if you can avoid using credit after everything you've just done through to get out of debt I wouldn't recommend using it unless you can guarantee you will only have a small limit and will pay it off every month.
I understand Lisa's caution but I think they are really useful for emergencies (unless you have savings). They also ease paying for hotels and car hire.
Plus the additional insurance you get when buying large items on CCs
