Student needing help with a card

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braken2000
braken2000 Posts: 659 Forumite
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Im going to be a student at uni soon, well hopefully, but im unsure what card to get. I have been told to get a Diners Club card as a back up as they are easy to get. But i want a card that has rewards as i feel i can pay it off no problem. Also what is the difference between a mastercard and visa, does one cost more or something? can you reccomend any companies/banks to go with, especially seeing as my credit score is low, thanks for your help.

braken
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  • Americana
    Americana Posts: 9 Forumite
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    Hi

    I used an HSBC credit card all the time whilst at uni. No rewards as such but I did get a decent credit limit, which I found hard being a student with little income.
  • grumbler
    grumbler Posts: 58,629 Forumite
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    braken2000 wrote:
    I have been told to get a Diners Club card as a back up as they are easy to get.
    :mad: :confused:
    ...what is the difference between a mastercard and visa, does one cost more or something?
    No difference for you. Most of credit cards do not cost anything if you pay balance in full.
    .. can you reccomend any companies/banks to go with, especially seeing as my credit score is low, thanks for your help.
    It is usually better to start with bank you have current account with.
    But i want a card that has rewards as i feel i can pay it off no problem.
    Good idea. Read corresponding articles in CREDIT CARD section. Unfortunately you do not have a good selection when applying for first credit card.
    Read also this recent THREAD.
  • surfcat
    surfcat Posts: 734 Forumite
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    No particular difference in acceptance levels for visa and mastercard in the uk. And no difference in fees (at least to the customer anyway). You should be able to get both with no annual fees.

    I'm surprised you're going for Diners Club. I've always seen the symbol in a few places but never actually seen anyone with a card. Do they only work in restaurants?

    Having been a student recently, I could honestly say you should only get one if you can pay off each month and you want to build your credit rating for when you want a morgage. Otherwise they just lead to the slippery slope of debt.
  • newfoundglory
    newfoundglory Posts: 1,912 Forumite
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    Diners Club tends to be more for corporate card customers, although they do personal cards. Acceptance of DC is quite low in the UK, and I reckon you would have serious problems using it at places you wanted to. Its also a charge card; not a credit card - which means there are no set spending limits on the card, but as such you MUST repay the entire card balance in full at the end of each month (there are no "minimum" payments - you must pay the whole lot).

    You want to stick to standard Visa and Mastercard credit cards; even American Express is not accepted as universally as Visa and Mastercard. It would be much easier for you to get a student credit card with your student current account, but these credit cards tend to have poor benefits and high interest rates - so shop around before you decide!
  • braken2000
    braken2000 Posts: 659 Forumite
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    if i can get something out of it, like points or freebies for having it then i may aswell, i will be paying it off in full, but as you say it is risky, i go into my bank and they dont care about helping they jsut want to sell products, is there an independant advisor i can talk to? i want to get all this sorted out before i go to uni
  • grumbler
    grumbler Posts: 58,629 Forumite
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    braken2000 wrote:
    … i feel i can pay it off no problem…
    Weyres wrote:
    Bracken, are you absolutely sure that you want a credit card? :confused:
    Personally, I wouldn't go there. You may have good intentions of paying it off in full every month...but...v. risky..
    braken2000 wrote:
    ... i will be paying it off in full, but as you say it is risky, i go into my bank and they dont care about helping they just want to sell products, is there an independent advisor i can talk to? i want to get all this sorted out before i go to uni
    You need your first credit card just to start your credit history. Even if it does not give freebies, points or cashback it paves your way to better credit cards. There is no any risk and you do not need independent advisor. Any card is good for you now if you are strong enough to pay balance in full every month. Set up direct debit on your current account for full payments and you will never miss them. Forget that it is credit card: never spend more than you can pay back at the end of the month. Meanwhile visit regularly this site and soon you will be able to chose the card that suits you better and you will have enough credit history to apply for it.
  • skiddy2k
    skiddy2k Posts: 1,627 Forumite
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    a Decent credit card for a student is getting a Student Barclaycard.
    you'll find that many other banks twnd not to offer student credit cards.

    Barclays, would ideally want to pass you with there credit card, due to you being a 'student, if you are one, they want students to take advantages of there credit limits.

    Barclays offer a 17.9% APR(variable), not that it matters if you no you'll be able to clear all of your balances at the end of the month.

    if it helps, they also offer discounts such as 10% off everything at all:sports and 10% off at Domino Pizza (mmmm!).

    check out there link, http://www.barclaycard.co.uk/Students/

    i would advise that you dont apply for the Student Barclay Card via there online application form, my friend told me that they have a few errors on there appliation form, and would recommend you call them up to apply.

    there 24hr customer service number is : 0870 154 0154


    Hope this helps!
    Good luck!!
  • bella123
    bella123 Posts: 209 Forumite
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    if found capital one are great,and they give a good credit limit.
    .
  • MoneyMonkey
    MoneyMonkey Posts: 140 Forumite
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    I had a Barclaycard at Uni and they seemed reasonable. There were not many perks with it though.

    I would make an effort to keep your credit limit low (the temptation can be great :beer: ), and also set up a direct debit for at least the minimum amount each month. It is very easy to be too 'busy'(!) and forget to pay it one month (very frustrating)....

    Good luck.
    Organisation and planning are for those who can't handle stress and caffine :rolleyes:
    A customer with a biscuit in his mouth, is a customer who can't complain :D
  • skiddy2k
    skiddy2k Posts: 1,627 Forumite
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    braken2000 wrote:
    Im going to be a student at uni soon, well hopefully, but im unsure what card to get. Also what is the difference between a mastercard and visa, does one cost more or something?
    braken

    oh, forgot to mention, there is no difference between a VISA or a MASTERCARD. they are two different companies that do the same thing.

    its like getting the same product, with two different brands.
    i put out a thread which was called, 'whats the difference between visa and mastercard' few weeks ago, here's the link: http://forums.moneysavingexpert.com/showthread.html?t=39725

    Also, its come to my attention, you say that your going to start uni soon, if you can wait until lets say, sep/oct until you start, i recommend you do so. reason being, during your freshers time in uni, many banks will offer you good rewards and incentives for opening up accounts with them.

    for example, last year, Natwest offered a £55 cash alternative joining incentive to students who opened a student account with them. there were also many deals like this for student credit cards also!

    so worth it if you can wait till late August to september when many banks will start promotiong student deals!

    hope this hasnt got you confused in choosing what your going to do!
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