💡Tip: If you use a credit card responsibly and pay your balance off each month, getting a credit card while you're studying at TAFE or university can also help you build a good credit history and credit score.
This helps with your chance of approval for car loans, home loans and other types of lending products you might want to get in the future.
What options do you have with bad credit history?
Hi Naomi,
Thanks for your inquiry.
Bad credit history can make it difficult to get approved for a credit card but you do have other options. Repairing or improving your credit score is not a quick and easy process. It may take a significant amount of time and require a long period of financial responsibility on your part. You may find this guide useful to improve your credit score.
You may also wish to refer to a guide on how you can repair your credit rating.
I hope this helps.
Cheers,
Jacob
Hi, I’m a 2nd year full-time mature student. I’ve never owned a credit card and I’m also on the DSP guaranteed for the duration of my degree (another two 1/2 years). My fixed income is about $23,000 per annum, what are my chances of qualifying?
Hello Sudi,
Each card issuer has their own eligibility criteria, so it may be helpful to contact the provider of a card you’re interested in to enquire and find out more about what your chances are. Also, to complete an online application for any of these credit cards you’ll need to specify the names of your employer and other relevant details, so if this can’t be done, you may need to enquire and apply in person or over the phone.
I hope this helps,
Marc.