Credit card

Pinto
Pinto Community Member Posts: 17 Listener
in Money and bills

Hi I've taken out a 500 pound limit credit card. Do I declare to uc

Comments

  • OverlyAnxious
    OverlyAnxious Community Member Posts: 6,016 Championing

    No, UC aren't interested in credit. 🙂

  • Rosie_Scope
    Rosie_Scope Posts: 8,473 Online Community Team

    As OverlyAnxious has already said, no that's fine @Pinto ☺️

    If you get reviewed, just remember to tell them about it if they ask, but you don't need to report it now.

  • ColonelBlink
    ColonelBlink Community Member Posts: 751 Pioneering

    I have never been asked anything about my credit cards, and I use them to pay for virtually everything.

  • jonf
    jonf Community Member Posts: 397 Pioneering

    is cash back or air miles something that you have to declare.

  • Pinto
    Pinto Community Member Posts: 17 Listener

    No just a straight forward credit card

  • OverlyAnxious
    OverlyAnxious Community Member Posts: 6,016 Championing
    https://forum.scope.org.uk/discussion/comment/1116587#Comment_1116587

    Cashback is a grey area. Technically it should count as capital. But UC have no way of checking it, and I doubt anyone is declaring it. If you move the cashback into your bank account, then it will get included in your capital at that point.

    There are other places where people can 'store' money in this grey area, such as gambling accounts. Things like Nectar points wouldn't count as capital because they cannot be taken out as money, only exchanged for goods at specific stores. I assume Air Miles works the same way as Nectar points, with no monetary value, only being exchanged for the service of a flight.

  • jonf
    jonf Community Member Posts: 397 Pioneering
    https://forum.scope.org.uk/discussion/comment/1116719#Comment_1116719

    or exchanged for nectar points

  • ColonelBlink
    ColonelBlink Community Member Posts: 751 Pioneering

    I don't imagine air miles are much of an issue for the vast majority of us benefit claimants.

  • jonf
    jonf Community Member Posts: 397 Pioneering

    air miles can be transferred to nectar points.

    I was just wondering as there are so many offers. I have often thought about switching to a different bank for the cash offer

  • OverlyAnxious
    OverlyAnxious Community Member Posts: 6,016 Championing
    https://forum.scope.org.uk/discussion/comment/1120698#Comment_1120698

    If you get ~£100 cashback from switching bank accounts then that does count as capital. But if you're below £6k total then it won't affect your UC payments. And if you've spent it before the end of the Assessment Period then it won't matter anyway. My previous advice was based on cashback websites such as Quidco and Topcashback.

    I would urge caution when changing bank accounts though. UC seem to ask everyone who changes their UC account to attend a Job Centre to verify that change now. I previously changed account a couple of times and got the bonus, but wouldn't do it again now that I'm on UC.

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