Credit Cards

Since becoming unemployed, or rather retired I find that small, often insignificant situations become magnified out of all proportion.

 

I recently applied for a new credit card, in my naivety, I though that I had a good credit history. Never defaulted on my mortgage, any loans always paid promptly and in full. Previous credit card always paid on time, never exceeding the limit and the overdraft only used in emergencies.

 

Virgin money looked a good option so I applied on line; this is where the problem starts. Under employment I put retired and under income I enter my annual pension. The form will not accept this; neither will several other on line credit card applications. Virgin has a telephone number which I ring and speak to a very helpful operator who takes my details and tells me that he will process my application and I will receive a written reply within the next few days.

 

As promised I receive a letter from the Head of Credit, Ms Poole requesting that I contact their office, did alarm bells ring, no why should they, after all I am a good credit rise, aren’t I?

 

I phone and I am asked whether I have a mortgage protection?

 

“Yes, having paid it for 25 years I thought I should take advantage of the scheme”.

 

“Well you are unemployed so are not eligible”

 

“Yes technically I am unemployed but I am retired with a guaranteed annual income”

 

“But you are unemployed and therefore do not qualify, we have to be responsible when lending money and it wouldn’t be responsible lending to someone who is unemployed”

 

The delightful Ms Poole, Head of Credit confirmed this in writing, “We can’t offer you a credit card at the moment as you’re not in regular long-term employment. If your circumstances change and you’d like to reapply, we’d be happy to take another look at your application”

 

Perhaps I’m miraculously going to shed a few years and resume fulltime employment. One has to wonder whether fulltime employment is a safer option that a regular pension? Clearly it is. I guess that I will have to dust off the trusty cheque book, but even that has its limitations.