Previously a student, going to be again, which banks?

staindude

I did not finish my original degree (various continuous mental health conditions) and am still with the same bank I was then who of course have charged me with late payment fees on the interest and their credit card. It has been a a bad few years basicly.

Anyway, what I'd like to know now is what to do about getting a student account for this time, staying with the same bank doesn't seem like the best option to me as it's not like banks are loyal but on the other hand they're not kicking me to the curb either. Will other banks accept me because I will have a low credit score?

I have recently applied to one of those credit improving cards (capitol one I think), could using this in the meantime help me at all?

Thanks

MrsManda

What is it you want out of a student bank account? If it's a large 0% overdraft then all banks are going to look at your credit rating in order to decide whether to give you one and how much they're willing to give you. Presuming you are going to university in September it is probably worth waiting until then to apply for a student account and in the meantime work on building up your credit rating. Have you paid off all the charges on your current bank account? I don't know what you mean by a credit improving credit card. If you're using a credit card only use it to buy purchases which you can afford without it so you are paying it off in full each month. With luck this will improve your rating enough for a bank to give you a student account in 5 months time but does depend on your personal circumstances etc...
Even with an 0% you should not plan to use it, rather have it as a backup otherwise you risk getting in to debt you cannot pay back and incurring charges again.
Hope your degree goes well this time

staindude

I've applied to the Capital One Classic* one of the ones suggested on this site, I aim to buy small things with it and then pay them off at the end of the month. If even I think I can't be trusted to do this I will give the card to someone else and have then do it.

I'm not sure what I want ffrom a student account really, a bigger overdraft would be nice if possible, because the first few years will be hard with me having to pay my own fees. But there is no chance of me clearning any debt default by then, when I say it's been a bad year, it really has, debt has no meaning when you're suicidal.

I don't know the latest on the bank charges court case but I could still try the credit card one. That may help.

MrsManda

Halifax gave me a student account a few years ago when no one else would - not due to my own credit rating as such, rather because I was linked with people with bad credit. But times have changed so they're probably more strict now.
It really is best to plan to live without an OD with it as a possibility to dip into if required. In terms of paying your own fees, is this because you've already had funding for another degree? As you dropped out previously due to illness you may be able to get full funding this time round because there are allowances in the rules for extenuating circumstances. This would also allow you to apply for Disabled Students Allowance for extra support.
May be worth looking at if you haven't already as it'll make your life easier whilst at university and improve your chances of completion.

staindude

Thank you for that reply, I pretty much had a breakdown while I was at uni that I thought I was recovered enough to repeat my 2nd years only to have it continue. They have asked for medical evidence which I'm asking my Mum to ask the GPs for as I no longer live where my notee are.

They have also sent me a Disability Living Allowance form to fill out which in the past I would have sneered at but I recognise now that my various conditions aren't going to go away so it's worth asking for help.