full time student, but not according to the banks

dlnk

Hi.
My son is a full time student pilot. He isn't entitled to any student grants and has to pay for the course himself (About £70,000 --ouch!) He has a loan from HSBC to cover some of it and has to keep his current account there to benefit from the loan. His problem is this: for part of the course, (about four months). he has to live in Arizona, to do the practical bit. However, at 18, he can't get a credit card from his bank because he is not working and is not classed as a student! :mad: I understand you pretty much need a c.card in America if you live there. We provide him with a monthly income (from savings made for him since birth) but this will end next January as the savings it is based on will have gone. Is it perhaps possible (sensible? Legal?) to get a card in my name and let him use it? Any suggestions?

lewt

matched betting?

dlnk

Not sure I understand, Lewt.

colin79666

With some cards you can take them out in your name and have another person added to the account - you will be legally responsible for any spending on the card though

You cannot take out a card with your name and hand it to him - it must be agreed with the bank for the 2nd name to be on the account. I recently got an RBS Student CC with this option (although I didn't use it).

With the current US Dollar to UK Pounds rates living in the US for a few months will probably work out reasonably cheap.

dlnk

Thank you for that. Do you know whether I would have to use the card as well, or could he just be the only spender (albeit a second name on the account). Would it be better to try for a card in his name, or would this seriously affect his credit rating?

si1503

dlnk wrote:

Would it be better to try for a card in his name, or would this seriously affect his credit rating?

Not at all, providing the payment deadlines are met and balance is cleared each month. The problem with this method is that you say he dosen't work, therefore has no income, it is very unlikely he will get much credit. Probably best opening one yourself and getting his name added to the account.