Students and Stoozing!

Kamran

Hey guys!!

I'm a 20 year old Medical student in London.. My student loan comes in three times a year and I often have the vast majority left over sitting in my Natwest current acount (I'll be switching to Halifax soon )

However, I have a few queries regarding credit cards.. (sorry if they're basic!)

firstly, regarding student accounts, Can I open more than one student account (I mean at different banks), for example, I have a natwest student account with the £1k intrest free overdraft, but can I go tomorrow and open up a Halifax one (the one with £2.75k overdraft), hence I have an extra large overdraft? lol.

I was very much hoping to "stooz", and having thoroughly read many MSE articles, and having wanted to do this for a long time, I called GE today and asked them whether I might be accepted for one of their GE Transformation credit cards. They said that I did fit the criteria EXCEPT that of course being a full time student, I dont work min 16hrs a week, and hence cannot get one of these fabled cards (that seem to be giving a lot of people a headache at the moment, it seems).. I called customer services and tried to explain that although I dont have a job, I have money coming in regularly with my student loan, thrice a year, but they said that won't be acceptable, and that I can still apply and see what happens. Of course I haven't applied, there's no point if I wont be able to get passed the first hurdle!!

SOO... where does that leave me? I have opened an ICICI 5.15% savings account, and my current savings will be transferred into there.. BUT i was very much hoping to get a 0% purchases credit card, so I can chuck my overdraft and earnings and student loan into the ICICI pile too.. does anyone know of a card that's more practical (or maybe less strict than GE) or maybe even a way around this problem??

Many thanks!!
Kam

littlemissmay

hey.. first, congrats on getting into medicine..!

anyways, marks and spencer are currently doing a promotion with their store card, the &More credit card..
basically there is a 0% interest charged on all shopping purchases for 12 months and a low 3.9% APR charged on balance transfers (but dont worry about that as i assume that u dont have a credit card as of yet!)..

anyways, an extra advantage is that for every pound you spend in the M&S store, you get one point and basically 100 points equals one pound in money that is converted quarterly, coming as a coupon..basically like the tesco clubcard.. also, for every two pounds spent outside of M&s, such as debenhams, you get one point..

sounds good, 0% interest on all shopping purchases AND reward for your spending??? hehe...

my friend who is also a student, recently applied and managed to get a 1500pound credit limit and she has a maxed-out overdraft!

hope this helps!!!! x:rotfl:

Kamran

thanks a lot, (i'm actually entering my 3rd year, but considering I still have 4 years left, I may as well be considered a fresher lol)

SO basically for my purposes, is this card the same as the GE Transformation card? 12 months 0% on all purchases? I havent read about this card before on MSE, is it because it's a really new deal?

Thanks again!

Kamran

<< I've just reposted this thread on the Stoozing section of the credit card part of the forum, this wasn't probably the right place for it!! Sorry for the inconvenience! >>