Student credit card

bungalow_bill

Hi, my son has just hit 18. CAn I add him to my credit card, or would it be better to apply for his own?

pre123

bungalow_bill wrote: »

Hi, my son has just hit 18. CAn I add him to my credit card, or would it be better to apply for his own?

if his an additional card holder on your account you will be liable for all debts spent on the card plus he will not be building any credit history for himself
id say try capitol one classic card
http://www.capitalone.co.uk/creditcards/capital-one-classic-card.jsf
or try his own bank

Moggles_2

It would definitely be best for your son to apply for his own credit card.

If this would be his first credit card, he may have a limited credit history, so from the lender's perspective, he's something of an unknown quantity. They are likely to see his lack of a payment history as too great a risk. He needs a starter card to build up a credit rating.

For tips to improve his chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide*, especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

bungalow_bill

Thanks for that.

So as a starter credit card, are there any that would be more likely to accept him than others? He does have 'no history' so needs to build this up

pre123

well im nearly 21 myself but have had credit since i was 18 so now have a good rating and get mainstream cards..
i started with an Outfit Store Card (Topshop, Topman etc) and a mobile contract, then i got the Capitol One Classic but have had many since for different benefits. if he cant get the capitol one card try Vanquis or Aqua card but the rates are even worse, just get him to set up a direct debit to pay balance off to avoid interest.
another thought is to try and get an overdraft of £50 or so from the bank as that goes on your credit file (even if he doesnt use it itll be lots of 0's on his credit file)
and make sure his on the electoral role as most lenders wont lend if your not on there

[Deleted User]

He could try for a barclaycard initial card, or maybe capital one classic, or his own bank?

PurpleJellyFish

Hi,

The title of the thread is 'student credit card' - is your son actually a student as if he has a higher education account, they often come with an option of a credit card. I ended up with a Barclaycard as I was with Barclays and although there was a fixed limit of £500, it was a credit card nonetheless. I therefore suggest own bank as first port of call and then maybe a store card as suggested by pre123

flyingscotno1

PurpleJellyFish wrote: »

Hi,

The title of the thread is 'student credit card' - is your son actually a student as if he has a higher education account, they often come with an option of a credit card. I ended up with a Barclaycard as I was with Barclays and although there was a fixed limit of £500, it was a credit card nonetheless. I therefore suggest own bank as first port of call and then maybe a store card as suggested by pre123

I got a student card off RBS- £500 limit, but you should be accepted provided no bad credit history.

oswaloman

If it is very necessary then you can get one form him but if not you can add him in our list till he required a new card

withnell

I think student barclaycard is reasonably easy to get for a student - it was my first CC and I didn't hold a Barclays account

digitalphase

withnell wrote: »

I think student barclaycard is reasonably easy to get for a student - it was my first CC and I didn't hold a Barclays account

I think Barclays have stopped doing that now