Whats wrong with them people!

DettaWalker

/rant on
Maybe I m looking at the wrong areas but...

I'm a mum and moved to england 8 months ago due to daddy getting a job offer in London. I'm starting my Masters Degree now and am looking for a good student bank account...
... nope... stop looking... apparantly, all the banks I've called so far, don't accept master students for their student account. Cause we're no "real" students.
Not to mention a student loan, master students cant get them UNLESS they started off with a 4 year course to begin with, then its okay to finace them with their master degree as well (or teaching degree...).
I can't get a proper credit card either (Amex platinum cash back card) because living here for 8 months with a current account, direct debits and standing orders and a green credit info (what ever experian means with that) is not enough to build up sufficient credit rating for amex to want you. Why on earth would they check my credit rating from germany, where I ve got TONS of financial info?

Then childcare, working mums get support (childcare element of working tax credit). bachelor students get support (childcare grant) but master students cant get either because a) they dont work 16 hours a week (cause uni aint no work) and b) because they re doing a masters degree... therefore dont qualify for a childcare grant for students.. cause again, master students are no real students.
Of course we do pay a lot of tuition fees and have no income. Not to mention that childcare in London is HILARIOUSLY expensive (talk about 930 pounds a week, full time, in a CHEAP area)
/rant off

Am I missing something? Is there any half decent student account I can go for?
How do I build up my credit rating without having to take on expensive loans?
Did I miss out on some kind of childcare grant for us rare and strange individuals that are no bachelor but master students?

DCFC79

Have you tried applying for other credit cards besides the amex, you can build up your credit rating by using a credit card and paying it off in full each month, also try a mobile phone contract but im not sure if this would have the same effect as a cc

slopemaster

I had the problem with some banks (eg Lloyds TSB) turning me down for student accounts as I am doing a PhD, but I opened a student account with smile, who are very good, and give me an interest-free overdraft. They also gave me a credit card (albeit initially with a low limit) which pays cashback - tho not at 5%. If you also join the Co-op and shop there, you can get a menbers credit card which pays 1% at the Co-op and 0.5% elsewhere

slopemaster

PS I don't know about the childcare thing but have you pursued all options via the student union and student/welfare services at your university?

slopemaster

slopemaster wrote: »

you can get a members credit card which pays 1% at the Co-op and 0.5% elsewhere

oh, and 6 months interest free

DettaWalker

Hi,

thanks for the replies. I'll check out the smile bank thing.

About the other options: There is a hardship fund at my uni which I will apply for, but thats it. It will cover, if I get accepted, a small fraction of my childcare. But alas, better than nothing.

I m just shocked that master students are treated differently than bachelor students.

If you assume that master students will get better paid jobs, then the conclusion is that they will pay more tax and are more likley to repay their student loan all together... so why not support them?

jonesMUFCforever

Did you not get free overdraft for up to 4 years then for your first degree, and then a further 2/3 years as a graduate?

chexum

jonesMUFCforever wrote: »

Did you not get free overdraft for up to 4 years then for your first degree, and then a further 2/3 years as a graduate?

OP moved to the UK 8 months ago from Germany, so they likely did not have a normal student account here.

8 months residency is not nearly enough for a random bank to trust anyone with credit. So if they don't qualify for a graduate/student account, the only chance is the current bank if there's one to trust them, but without salary, they won't stop laughing about this credit thing...