Student credit card
kieran936
Posts: 4 Newbie
Hi,
I have been looking into getting a credit card just to boost my credit rating but have been unsure on how to go about it or which to get. I currently have a student account with HSBC and another account with lloyds. The student account with HSBC however i have wanted to get rid of and potentially switch the student to lloyds, but i dont know if there are fees etc that would come with that (only had it since september) and then in an ideal world i would have a student lloyds with my credit card on lloyds for ease of management.
could anyone recommend what to do as i can repay any spending i do on the credit card.
I know this is kind of a two part problem as well due to needing to sort my main accounts out at the moment too.
I have no current debts and cleared my overdraft of £50 on the student overdraft fine without going near my limit.
I have been looking into getting a credit card just to boost my credit rating but have been unsure on how to go about it or which to get. I currently have a student account with HSBC and another account with lloyds. The student account with HSBC however i have wanted to get rid of and potentially switch the student to lloyds, but i dont know if there are fees etc that would come with that (only had it since september) and then in an ideal world i would have a student lloyds with my credit card on lloyds for ease of management.
could anyone recommend what to do as i can repay any spending i do on the credit card.
I know this is kind of a two part problem as well due to needing to sort my main accounts out at the moment too.
I have no current debts and cleared my overdraft of £50 on the student overdraft fine without going near my limit.
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Comments
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Hi, you shouldn't incur any charges from switching your student account. I switched from Lloyds to Santander ( £1500ish into the overdraft and they still allowed me) to nab the free 4 year railcard, after I thought I was going to have to take my car off the road. But I actually stopped the switch from happening and have stayed with Lloyds as I hated Santanders online banking interface and snail mail correspondence procedures. I would recommend going through the T&C's of your current student account though, just to double check.
Lloyds advertise a student credit card ( as long as you've had their student account open for 3 months I believe), and I personally like to have my credit card (not student one though) easily manageable along side my current account and I love how Lloyd's have this feature on their online banking. Hope this helps
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It's worth looking at the credit building cards on MSE. They're more likely to accept you given your low income (state your student loan/bursary/grants as income) and recognise you don't have that credit history some other cards require. Only warning is if you don't pay it off in full you're probably liable for a higher interest rate making the card pointless0
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