Student in some trouble w/credit rating already!

benf90

hennerz wrote: »

Thanks again guys.

So my steps are:

1 - Natwest and HSBC Student accounts - then after a month or so (?) apply for student credit cards in both. Applying for both account and CC in branch.

2 - Sub-Prime Credit Card - CapitalOne Classic I think. Should I apply for this now? Or wait 6months to be sure of acceptance?

1. You can usually only have 1 student account, they normally require as part of the T&Cs that your student loan is paid into the account.

There isn't any rush to apply for credit so soon after being rejected 4 times. Personally I would leave it another 6 months at least, especially if you get a current account with an overdraft.

If you do get a credit card then definately don't use it on any gambling sites as it would be classed as a cash advance.

never-in-doubt

hennerz wrote: »

I've had an HSBC young person's account for a while until I turned 18 (I am now 19) and it became a normal Current Account (I have a debit card with it). I have been actively using it and now have been upgraded to an ADVANCE A/C account.

I wanted to get a good credit rating while young, but didn't research properly and just applied to get 3 or 4 credit cards. Obviously as a student with an income of ~£6k a year from online poker I got rejected from ALL of them.

I have also had a fine to my bank, where my landlord tried to take my rent from the wrong bank account, meaning there wasn't enough in the account to pay the direct debit (incurring a £20 fee!). It was my Landlords fault, but I don't think there is anything I can do about that?!

Anyway, I now know I must get some credit if there is any chance of getting enough credit to buy a house when I'm around 22... I have ~£3k in my HSBC and have £1k in a Britania savings account I have had since young. I also have a Co-Op current account (with electron card).

I believe I am on the electoral roll and have lived at my current address (my parents) for 15years +

What shall I do about my credit score? How deep am I in trouble? Should I open some student accounts at Natwest and HSBC to try and get Student Credit Cards as my next step?

:T - First post, great site!

LOL - is this for real? I have income of 6k from online poker and the banks won't give me credit? Are you surprised?

Seriously though, you know that sub prime cards restrict acceptance to gambling sites so you may only get a 250 limit with say only 30 allowed to gamble with....? Student cards will come with max 500 limit as well.

got any tips on how to become a millionaire with online poker?

Innocent_Guy

never-in-doubt wrote: »

LOL - is this for real? I have income of 6k from online poker and the banks won't give me credit? Are you surprised?

Seriously though, you know that sub prime cards restrict acceptance to gambling sites so you may only get a 250 limit with say only 30 allowed to gamble with....? Student cards will come with max 500 limit as well.

got any tips on how to become a millionaire with online poker?

Personally I wouldn't advise you to get a credit card because I can bet you any money you will end up maxing it out on a gambling site

However if you are still determined I would open a student account with Natwest, they will offer you an O/D and CC with a £500 limit. They will also increase this limit if you behave.

Failing that please view page one of the Sub Prime Credit Thread - It is usually located on page one.

Best of luck

never-in-doubt

Innocent_Guy wrote: »

Personally I wouldn't advise you to get a credit card because I can bet you any money you will end up maxing it out on a gambling site

No mate cos they will restrict the amount of credit available to online gambling....... they have sussed this out long ago mate :j

Innocent_Guy wrote: »

Failing that please view page one of the Sub Prime Credit Thread - It is usually located on page one.

Best of luck

HAHAHAHA Thank for stating the obvious, it starts on page 1.... hahaha :rotfl: :T :rotfl:

Innocent_Guy

never-in-doubt wrote: »

No mate cos they will restrict the amount of credit available to online gambling....... they have sussed this out long ago mate :j





HAHAHAHA Thank for stating the obvious, it starts on page 1.... hahaha :rotfl: :T :rotfl:

Its usually on page one of the forums!!!

Remeber its not a sticky Get me?

hennerz

benf90 wrote: »

1. You can usually only have 1 student account, they normally require as part of the T&Cs that your student loan is paid into the account.

There isn't any rush to apply for credit so soon after being rejected 4 times. Personally I would leave it another 6 months at least, especially if you get a current account with an overdraft.

If you do get a credit card then definately don't use it on any gambling sites as it would be classed as a cash advance.

Thanks for the info. Natwest it is then! Will it matter that I don't actually get a student loan? However I can still show them all my uni ID cards, letters and accommodation etc. as proof.

never-in-doubt wrote: »

LOL - is this for real? I have income of 6k from online poker and the banks won't give me credit? Are you surprised?

Seriously though, you know that sub prime cards restrict acceptance to gambling sites so you may only get a 250 limit with say only 30 allowed to gamble with....? Student cards will come with max 500 limit as well.

got any tips on how to become a millionaire with online poker?

Innocent_Guy wrote: »

Personally I wouldn't advise you to get a credit card because I can bet you any money you will end up maxing it out on a gambling site

However if you are still determined I would open a student account with Natwest, they will offer you an O/D and CC with a £500 limit. They will also increase this limit if you behave.

Failing that please view page one of the Sub Prime Credit Thread - It is usually located on page one.

Best of luck

Thanks, I don't want all poker players to be branded with the same brush. There are poker players and there are gamblers, I am not the latter. Here is my graph for the last 3 months, while I have been also keeping up with uni work. Many lose, but those who work hard on their game, using the facilities available can make very good money. Poker is no get rich quick scheme and takes a lot of hard work tbh!

http: //i205.photobucket.com/albums/bb23/heners_galore/200nlgraphuo4.jpg

Natwest, here I come!

never-in-doubt

hennerz wrote: »

Thanks for the info. Natwest it is then! Will it matter that I don't actually get a student loan? However I can still show them all my uni ID cards, letters and accommodation etc. as proof.

Thanks, I don't want all poker players to be branded with the same brush. There are poker players and there are gamblers, I am not the latter. Here is my graph for the last 3 months, while I have been also keeping up with uni work. Many lose, but those who work hard on their game, using the facilities available can make very good money. Poker is no get rich quick scheme and takes a lot of hard work tbh!

http: //i205.photobucket.com/albums/bb23/heners_galore/200nlgraphuo4.jpg

Natwest, here I come!

Regards gambling - LOL, mate i'm not here to preach was just taking the pish a little but good on you if you can earn 6k per annum doing poker! Want a sponsor, use my cash and win me 100k per annum? LOL

Regards Banks - you're best waiting until nearer the uni start time or natwest will decline you - read the banking boards cos there is a page about this exact thing where they will not give you any o/d until you have exams or something.....

Here: http://forums.moneysavingexpert.com/showthread.html?t=1618931

and also this is good: http://forums.moneysavingexpert.com/showthread.html?t=1620901

Best of luck.......

claire6hy

benf90 wrote: »

1. You can usually only have 1 student account, they normally require as part of the T&Cs that your student loan is paid into the account.

not true i dont believe

i have 2 student accounts, and when i opened the 2nd one i told them i already had one student account,and therefore wouldnt be paying it in to my new account!

Innocent_Guy

claire6hy wrote: »

not true i dont believe

i have 2 student accounts, and when i opened the 2nd one i told them i already had one student account,and therefore wouldnt be paying it in to my new account!

I must add they I can confirm that it is possible to get molre than one student account