EDIT: It has been suggested that this question is a duplicate of Personal loan while unemployed?. In fact it is not a duplicate of that question, because I'm not asking about getting a personal loan while unemployed. I'm asking what my personal loan prospects will be right after I become employed.
I'm currently unemployed, but I'm hoping that immediately after I land a job, I can take out a loan or maybe get a credit card. I'm hoping people can give me some guidance related to this.
- Will I be required to provide pay stubs or other proof of earnings/employment, or just write a number on the form?
- Will it make a difference if I've just started a job and haven't gotten paid yet?
- Will it make a difference if I've accepted a job offer but not yet started working?
- Will it make a difference if my job is a temporary position?
- What if my income will not be entirely predictable, either because my hours will vary or because my pay will depend on the amount of work completed? Should I just estimate what I think my income will be? Should I expect my employer to be able to give me an estimate?
- What other information, other than basic stuff like my name and date of birth, should I be prepared to furnish? Will I have to provide documents, or just write information on the application form?
- Will I generally have to decide how much credit and what interest rate to ask for, as opposed to just giving them my information and letting them make an offer? Do I request an amount and then they offer me a rate on that amount? Do I request a rate and then they offer me an amount at that rate?
- If I do have to decide what amount or rate to ask for and they're not willing to offer me that, will they typically make a counter-offer or just reject my application?
- About how much and for how long will my credit score be reduced by applying for credit?
- How long does application processing typically take?
Second, what kind of results can I expect?
My credit score is around 650, and my monthly expenses are around $1,000. I have around $90k in student debt but I'm on an income-based repayment plan. I have zero history of missing a payment on anything, but not much credit history overall. My background checks come back squeaky clean (I think). I'm willing to settle for an interest rate on the high side. I intend to spend the money on basic needs like moving and furniture.
The big unknown is what my pay will be. I think I have a shot at some fairly high-paying jobs, but depending on circumstances I might end up temporarily settling for much less. Can anyone give me a rough idea of how much I'll likely be able to borrow as a function of my income?
Third, please feel free to offer any other information you think I might find pertinent! I feel like there are one or two important questions I forgot to include here.