Student credit cards

Jaymo

Jakg wrote: »

I dont see how requesting a credit check will help - I turned 18 recently and I know all that is on my credit file is on the electoral roll.

Since then i've been accepted for a phone contract (at 1AM on the day I turned 18 I'm so sad...) and a CapitalOne CC (...albeit with a £100 limit!).

I may or may not have had 3 searches run by a guy in CPW though so who knows what it's like now...

Currently looking into the CapitalOne at the moment because the lower the limit the better I think. Less tempting to make big purchases and requires me to use it for sensible things.

Jaymo

3v3 wrote: »

Don't know (basically).

However, in last weeks Sunday Times, it did say that students with little or no credit history could be turned down for cc's because lenders don't have enough info to know if they will be able to repay any debt.

ETA: Here's a link to the article Ok, I can't link to the article, but if you go to the Times website it's article 6806021

cheers for the article 3v3 :beer:

Jaymo

Jakg wrote: »

I dont know what a "student credit card" is but in terms of new-to-credit-cards then Capital One are the "best" with a lower APR than Aqua / Vanquid, but at 34.9% it's not exactly something you want to be ever in debt on and the limit is tiny (£100 for me for the first 4 monts).

Student credit card basically has rewards like Barclays is meant to be linked with argos and you get discounted prices on student basics from there i.e. kettles, bedding, stationary sets, storage etc. also have APRs arouond 15-17% an limits of around £600.

Stubert

I studied abroad last year so I got the Barclays Student Credit Card (in addition to the one I had with my HSBC student account). Seeing as I didn't officially have any income, them giving me a £600 was fine! It is 14.9% APR, but that comes with the territory of not having much credit rating and I generally pay it off in full anyway.

Jaymo

Stubert wrote: »

I studied abroad last year so I got the Barclays Student Credit Card (in addition to the one I had with my HSBC student account). Seeing as I didn't officially have any income, them giving me a £600 was fine! It is 14.9% APR, but that comes with the territory of not having much credit rating and I generally pay it off in full anyway.

I applied finally for the Barclays student credit card (master card) - should have my decision within 5-7 working days so fingers crossed I can start to build a credit rating for myself.

Moving into a new house so setting up a direct debit with my credit card to pay £20 a month to virgin and then a direct debit from my student account to the credit card. So won't have to worry about it ever again and will build my rating throughout my final year. if I get the card that is :rotfl: