Can I get a credit card or student account?

benji2010

Hello everyone,

Not sure this is in the right place so please forgive me!

I am a full-time undergraduate in my second year and I can not get a credit card or a student account. I know, this is mad! Anyway I just need some advice to help me obtain a CC or student account. I have been with the Halifax since 1999 and they won't let me open a student account or have an overdraft. At the moment I am not working but I have been looking for a job and intend to get one soon, in the last 2 years I have moved home three times. Even before I started uni I wasn't able to get a CC. When I was 18 I had a CC and made some minimal repayments and I received a letter about ccj's. Now that I'm 24 I have become wise with my finances (and life!) and I want to start to build my credit rating. I hopefully want to start my own business one day and with my track record I'm fearful that the bank manager will turn me down for any loans. I have taken the first step of obtaining a credit report (my knees are shaking!) and once I know the bad news I can try and rectify this problem.

So if anyone has any advice I will be pleased to hear it. Please help me Build my credit rating!

Many Thanks for reading and have a good day.

Ben.:o

benji2010

Ok well it looks like I will be finding out the hard way!!

Broken_hearted

All you can do is try.

CLAPTON

repost once you have your credit files reports and tell us what they say.

fallenwiccan

there was a discussion about this in the Student section further down the forum.

Halifax it appears are quite strict with their student accounts however I'm 19 (20 tomorrow) and had never had credit and HSBC gave me one straight away with £1000 0% overdraft and a credit card with £500 limit on it although that has a rate of 18.9% *ouch*

its up to you though shop around for whichever bank has the best offers you want and then try it out

hope i've helped

pudding06

I found that the banks were quite keen if you had a student loan cheque or something like that to pay in to open the account!!!!! Although the coop didnt really want me - their loss lol

just keep on trying - explain that your student loan will be paid into it etc, and stop worrying - whats the worst thing that can happen - they turn you down and you go somewhere else. You will get one eventually.

good luck.

pudds

fallenwiccan

pudding06 wrote:

I found that the banks were quite keen if you had a student loan cheque or something like that to pay in to open the account!!!!! Although the coop didnt really want me - their loss lol

unfortunately student loan is paid by BACS now that would've been a great trick though hehe

Vickicb

If you are VERY disciplined you could apply for one of those credit cards that are specifically for people with poor or no credit history (the names escape me at the moment but someone else might know who does them). The APR on these is VERY high, so you would need to make one small purchase each month and pay it off each month IN FULL. This will start building your credit rating as the months go by. My OH had a very large default from when his business failed but this method helped his credit rating and we are now eligible for normal mortgage rates despite the fact that the default is still on his file. If you think you would run up the balance though don't do it as the interest you will be paying will cripple you.

benji2010

Hello everyone,

Just a quick update, I have managed to get a phone on contract I think god was watching. I will update when I have the reports! Oh and I turned 24 on 13th and I stayed in.

Ben.