Lloyds TSB student credit card

JamieLeeWV

hello.

i'm looking to take out a credit card and seeing as i have a lloyds TSB student account i figured this credit card would suit me?

as i've mentioned here before i'm not very good at calculating interest rates apr etc so if someone could help me that would be great.

i would use the credit card for general use meaning i wouldnt need to touch my current debit card (only to pay off the credit card at the end of each month). probably wouldnt spend more than £150 a month on my credit card anyway and would pay most of it off each month. i'm also looking at going on a short break away on holiday, no where fancy, somewhere in the uk so not sure if a credit card is best use for this or going along another line of taking out a loan.

please let me know your thoughts anyone got/had a tsb student credit card?


thank you.

Curt.

I dont have a student credit card with them no, (haha i never went to Uni) but i do have a CC with them and having a bank account with them definately helps. They are a very conservative lender and with ther student card you cant get more than a £500 limit...in my case my personal manager got me my credit card fo airmiles as i travel so much and i basically told her i wouldnt pay the £25 a month for the premier account anymore otherwise...the card suddenly became available to me "co-incidentally". You might need to nudge one of them who manages the student account you have (if anyone) to say that you are putting your student loan through them and that you would consider that you were deserving of a CC.

In regards to the card and whether its any good, well i dunno but most student cards are similar enough but it is a good idea as it helps you establish credit and a profile of being a good borrower, staying within a credit limit, managing your ability to repay and so on. Go for it.

JamieLeeWV

ok thanks a lot i think i may.

just a bit worried say one month i have £250 to pay off on my credit card and i can only afford to pay say £100 of it off until the following month. would the interest charges be through the roof or...?

Curt.

Err difficult to tell based on their pricing policy on APR but it wouldn't be through the roof - if you can get say a 17.9% APR you should be okay which is what most are approved for you will be just fine. Mine is 13.9% of my premier airmiles duo card but your rate will likely be at least 15.9% - mine is very low due to the fact i have the Premier bank account. What is your credit file like in general (trying to figure out what you will get for an APR or likely to get to see what the interest charges will be).

JamieLeeWV

Curt. wrote: »

Err difficult to tell based on their pricing policy on APR but it wouldn't be through the roof - if you can get say a 17.9% APR you should be okay which is what most are approved for you will be just fine. Mine is 13.9% of my premier airmiles duo card but your rate will likely be at least 15.9% - mine is very low due to the fact i have the Premier bank account. What is your credit file like in general (trying to figure out what you will get for an APR or likely to get to see what the interest charges will be).

19.9% is the typical apr. say its that much what does that translate to in money terms?

as you can tell i am a total amatuer when it comes to these sorts of things lol

Curt.

Well thats annual so monthly is perhaps ranging from 1.6 to 1.8 depending on what you get. 1.8% monthly on £150 of debt would get you about £2.50 if i have it calclated correctly, but like i said it isn't much even that's not completely correct. (Sorry its not my math that i struggle with, its just i have never actually paid interest on a card).