When applying: Do I say I'm a Student or working Part-Time?

moneyballs2

So I'm a student and I'm working part time (yes, a very very rare occurrence in the world (not))

When applying for a credit card, do I tell them I'm employed or that I'm a student? I was thinking that saying I was employed would increase the likelihood of them accepting my application than just saying I'm a student, but I don't really know.


Also, any tips of a good credit card as a first card? I've looked at the ones my bank offers, but they require me to be earning about £3k a year more than I currently am!

Thanks

[Deleted User]

who do you bank with?i know natwest usually offer a cc with a limit of £500 to student account holders,i suspect other banks do as well,speak to the student advisor at your bank first.

stephane_2

If you have an income as part-time then I would say that on the application. If it is your first credit card then very unlikely that you'll get accepted by a mainstream lender, you'll probably have to start with a sub-prime lender like Vanquis, Capital One, Aqua or Barclaycard Initial. The interest on those cards will be extremely high but if used wisely and paid in full each month then that will help you build a credit history for the future. You'll have to make sure also before applying that you meet their minimum requirements.

7891368

If you do it on the phone you can declare both, which is what I did or list student as your main occupation and then your part time role as a secondary occupation.

That's what I did with Halifax (mainstream clarity card), my Lloyds student card was just offered to me.


I am a ft student, working part time earning approx 5-6k p/a so quite similar to you I believe

moneyballs2

My main account, where my salary is being paid into, is with Alliance & Leicester (so that's Santander)

And thanks for the advice everybody

When I say student, I'm at Sixth Form, so not explicitly a university student and not eligible for a student account, not yet! xD

7891368

moneyballs2 wrote: »

My main account, where my salary is being paid into, is with Alliance & Leicester (so that's Santander)

And thanks for the advice everybody

When I say student, I'm at Sixth Form, so not explicitly a university student and not eligible for a student account, not yet! xD

Lloyds allow you to have a student account from 17 with an overdraft of £250, if you look after your account you could be accepted for a credit card quite quickly.

moneyballs2

Anyway, I tried out Capital One and got the letter saying I was accepted today. Was quite surprised they've given me a £1500 credit limit! Seeing as I only earn about 4 times that over the entire year... The interest rate is 34% also. With such a high credit limit given to a 18 year old, it doesn't seem surprising how easy people find it is to get into debt.

I'll only be using it to buy a loaf of bread every now and again, and then it'll be fully paid off by direct debit

BugsyBrowne

moneyballs2 wrote: »

Anyway, I tried out Capital One and got the letter saying I was accepted today. Was quite surprised they've given me a £1500 credit limit! Seeing as I only earn about 4 times that over the entire year... The interest rate is 34% also. With such a high credit limit given to a 18 year old, it doesn't seem surprising how easy people find it is to get into debt.

I'll only be using it to buy a loaf of bread every now and again, and then it'll be fully paid off by direct debit

Ok you may well have got £1500 credit limit you say on the cap 1 classic,but this occasion mate i ain't buying that atall.

moneyballs2

star-fire wrote: »

Ok you may well have got £1500 credit limit you say on the cap 1 classic,but this occasion mate i ain't buying that atall.

I'm a bit hungover and new to all this, so I'll copy paste the part of the letter that says what they're giving me.

(It may be that this is the generic maximums or whatever, but I would assume they'd tell me clearly in writing what I was signing myself up too... right?)

- Typical 34.9% APR variable
- Maximum Credit Limit up to £1500

So does that mean I'm getting £1500, or just something up to. I would much prefer to know what I was getting before I signed. (Not that I even want to spend that much money anyway! But still would be better for everything to be in clear black and white)

[Deleted User]

No. That doesn't tell you your rate or limit. The first is probably going to be higher and the second lower. You'll need to wait for your card and the accompanying t&cs.

elfen

I'd say it's probably 34.9-39.9% APR, and the credit limit is probably £250.