Student Credit Cards

awilding

Hi, Can anyone help? have 2 daughters, 1 of which is already at university and the other is starting this month. My oldest daughter was granted a student bank account without any trouble, so we thought we would go with the same bank for the youngest daughter, I might add that we as a family have banked with this bank for over 20 years. My youngest daughter has managed to open a student bank account but the benefits of this account have not been granted, ie credit card and additional overdraft. I am struggling to comprehend why one sibling can get the benefits and the other cant, PLEASE HELP.

CLAPTON

first step is to get hold of copies of her credit reports and see if there is any incorrect data there
second step is to ask them why not
then maybe open a student a/c with another bank.

Tixy

Did she have proof of being a student when she went to open her account - her ucas letter or something?

Has she had any previous credit accounts (credit card, phone accounts etc) and if so has she had any problems with it (not paying things on time etc).

awilding

Hi, thanks for that but she has no credit report due to the fact that she is a student and I have contacted the bank and they say there is nothing they can do until the credit card becomes available, struggling to comprehend this as my eldest daughter who has the same financial history got the credit card.

Tixy

awilding wrote: »

but she has no credit report due to the fact that she is a student

Everyone over 18 has a credit report they can access with all 3 credit reference agencies. There may be no accounts on it - although if she has things like a contract phone then there will be accounts on it. But it will show if she is on the electoral roll and similar information.

awilding

Also we have a family income of over £80k per annum so no real problem there!!

Tixy

Martin's update to the student bank account article mentions that not all students are being given overdrafts this year. And discusses the difference between guaranteed overdrafts and up to overdrafts - maybe have a read of that article - http://www.moneysavingexpert.com/banking/Student-bank-account#topstudentaccount

Your family income will not in any way be taken into account when a bank assess your daughter's credit status.

awilding

Thanks, I'm just struggling with the fact that one sibling gets it and the other cant!!

CLAPTON

awilding wrote: »

Also we have a family income of over £80k per annum so no real problem there!!

your daughter credit records are personal to her and do not reflect the family income

best to get copies and see what they say