loan or credit card

[Poffleski]

I'm at the end ofmy second maternity leave and have started a course before returning to work. I've managed to agree monthly instalments to pay for it but still don't really have the money.

I've never been in a situation like this before, can anyone advise whether a credit card or a loan would be best to help tide me over until my work picks up next year.

I'm considering a career development loan but need to look into whether the course meets the criteria.

If not, I'll look into a standard loan.

I'm thinking a credit card might work as long as I pay off as soon as I can or switch to another one (this is something people do right?!)
I'm mostly clueless about this as my mum was constantly in some debt when I was growing up and I've done everything I can up to this point to not need financial crutches such as loans/ cards but now I'm pretty desperate.
Any advice/ pros and cons would be appreciated!

If you get a loan or credit card you still have to pay monthly payments. If you cant afford to pay for the course in monthly instalments how would you pay the loan or credit card?

I suppose if you find a 0% credit card and just make the minimum payments initially this would probably be the cheapest monthly way of doing it.

If you have a good credit history it's worth talking to your bank. They gave DSIS a better car loan rate than the garage could at the time.

A credit card is very expensive way to borrow money.

I will be able the afford the payments when I'm working (back at work in December) but it will take me a couple of months to get back on my feet.
I was thinking of the 0% options available. I just haven't any experience of doing this.

Good idea about my bank, will look into it thank you, had assumed it would be very expensive but actually might not work out that way.

With a 0% credit card you have pay a minimum amount each month (I have one which I could pay as little as 1% of the outstanding balance) so for example if you have £1000 on it you can pay £10 each month until December then increase the payments when you have the money coming in.
Just make sure you have paid it off in full before the 0% offer finishes, or if you still have an outstanding balance at that time, then switch it to another 0% card.

The issue maybe that as you aren't currently working you may not be eligible for the card.

You definitely wouldn't be eligible for a personal loan if you don't currently have an income. Most banks want to see 3 months payslips.

I am still employed, on maternity leave and have been receiving enhanced maternity anf last SMP in November. Thanks for the heads up, hadn't considered the implications.
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Look at moneysavingexpert.com for the best loan and credit card deals available. They also have a card checker so you can see if you'll qualify for a card without the usual credit search being done - it's just a case of answering a few questions.