How do credit cards impact loans

Tmon

I didn't know exactly what to title this but effectively I'm looking at taking out a student loan and wanted to know if having a large available amount to borrow on a credit card will negatively impact the amount of the student loan (or other loan I can take out). I don't use the credit card (it's all paid off and I've not had to pay anything in 6 months) but the amount available to borrow has increased a number of times and I am worried that this may impact the amount of student loan a bank is willing to offer.

Cheers for the info ahead of time.

CLAPTON

usually 'student loan' means a loan from the SLC associated with going to Uni

if that is what you mean then they are not credit checked so having CCs makes no difference


if however you simply mean a loan from a bank then they are rarely offerd to students except for career developement loans as students are perceived as having no income


and by the way, using a CC regularly and paying in full will usually improve your credit rating

blacksta

I doubt it

two seperate entities , one is deducted straight from your earnings and other is different

Plxply

As others have said they're totally separate and to give you extra reassurance I've applied for a student loan this year, been granted one and there has been no searches on my credit file.

jason1231972

Student loans (that is, loans provided specifically by the Student Loans Company) are granted without question or regard to your credit history, past or present.

All you have to do is satisfy their basic criteria as to course eligibility, residency, income, etc. (any levels of personal/parental income are accepted, but different amounts may be lent depending on said income).

Further down the line, merely having a Student Loan won't affect your credit file. A small number of lenders may ask about it, just so they can establish your true take home pay, but it won't generally count as criteria for acceptance/rejection of future credit, and to even be asked about it appears rare (I've never been asked). It doesn't appear on your credit file in any way, shape or form.

Student loans have nothing to do with your bank, unless you're intending to get a bank loan as a student, and specifically for student-related purposes. These loans are a different kettle of fish, and often aren't needed (or even available), save for what's known as 'career development loans', usually reserved for already-graduates, or other people intending to enter specific careers like law, etc.