Borrowing Money

OK, so we're in the credit business. We think lending money is a great idea.

But that's only provided you can afford to pay back what you owe. A loan or credit card can be a very helpful thing, but it's not worth getting into financial difficulties for.

The two ingredients in sensible borrowing

Our responsibility to you

Barclaycard is a responsible lender. At our end, we do all we can to make sure we are lending only what you can afford to borrow.

That's why we conduct rigorous checks on your personal details, including your credit history. You can find more information about these checks at How does the application process work?

Your responsibility to yourself

It's our responsibility to conduct all reasonable checks. If we decide to accept your application for a credit card or loan, it's down to you to ensure you can afford it.

Before you apply

Before you apply, you need to ask yourself a few basic questions:

Why am I borrowing this money and how much do I want?

Be clear about what you want the money for – it will help you to decide how to borrow.

For example, a credit card is a good choice if you just want more flexibility in your spending month by month, whereas a loan is probably more useful if you need a one-off, lump sum for a car. Neither are very useful if you're using them regularly for essentials like food shopping or the rent/mortgage – if you're in this situation, get help from one of the organisations listed below.

How much can I actually afford to borrow?

Deduct your total monthly outgoings from your income to find out how much spare money you have to play with. Be honest with yourself – you won't be able to magic the money out of nowhere later!

Narrow down your choice

Once you've settled on how you want to borrow and how much you can afford, check our range of credit cards and loans carefully to make sure you choose the best one for you.

Find out more about our Credit cards

Find out more about our Personal loans or Secured loans

If you're not sure, get further advice

There's plenty of independent, free guidance available on borrowing.

The Financial Services Authority

The FSA has a comprehensive website at www.moneymadeclear.fsa.gov.uk.

You can take the FSA debt test or the Financial Healthcheck.

APACS

APACS, the UK payments association, offers free and impartial guides to credit cards. You can find them at this website: www.choosingandusing.com.

Alternatively you can download the guides here:

• APACS Choosing a credit card guide PDF†
• APACS Using a credit card guide PDF†
• APACS Understanding your credit card statement PDF†

†Software Requirements
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