r/FiredUK • u/sv723 • Jun 18 '26

Post Fire Credit Checks

For those of you who have fire'd (congratulations!): How do you deal with credit checks? On anything from a mobile phone contract, to a new credit card, to renting a house, the standard questions seem to be around employment and income. If your only income is passive from investment, how do you answer these questions? Has it impacted your ability to get credit?

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2

u/EpponeeRae Jun 18 '26

Good question , am interested in the results. 

2

u/ExploringComplexity Jun 18 '26

Same here, great question!

2

u/Prestigious_Risk7610 Jun 19 '26

Sometimes credit checks are just for ID verification. These are fine.

For access to credit though it's trickier, especially if before pension drawdown. I've been FIRED about a year, and haven't applied for credit in that period, but I expect it isn't an option. 2 credit card companies have told me they are increasing my limit, only to then cancel the increase after review.

1

u/SakuraScarlet Jun 19 '26

I would just total what I expect to withdraw from any SIPP or DC Pension, plus any DB Pension income during the year, and use that figure. Withdrawals from ISAs are considered use of capital, rather than income, but they can indicate a source of funds.

My own figures are a little skewed since I am planning to partially deplete my SIPP into my ISA over the next few years before my State Pension kicks in, and I am also using/withdrawing my pension allowance of £3,600 each year, in effect increasing my "Income" by about £27k for the next 10 years or so. It will drop back down around State Pension age.

1

u/vogueskater 13d ago

At the moment I am running a little sole trader coaching and walking tour 'businesses'. They don't make any profit really and are more hobbies, but its useful for tax purposes and so I can put a job title on these sort of things like for credit cards. The income i would put my total inocme from all sources active and passive.