Credit Card & Student Account

Plxply

Hello,

I have a Capital One Secured credit card that I applied for shortly after my 18th birthday and I've been paying it off in full every month since then (January). Now that I'm looking into student accounts I notice that most have large credit facilities, but is my credit history good enough?

By the time the account (Student account) is fully active in August if I get a confirmation of a place, I will have had the card for seven to eight months. Is this enough to build a decent credit rating for the banks for a student account? Will they see my current credit card as available credit and decide I haven't had it long enough to establish I will be reliable with their credit services?

Any advice will be appreciated.

bouncydog1

Student bank accounts are dealt with on a different basis. DD had no credit history at all, yet was straight away offered (when she had her place confirmed) overdraft and credit card.

You can't open the account before you have your offer in writing and the banks want confirmation that you actually are a student (e.g. you can't go along and apply for an account and then not take up your place).

Have a look on the student part of the site, because there is always a comparison of the student accounts on offer once the bank start making these offers public. They all change just before results day and as you can't do anything until then you can look around for what suits you best.

Last year HSBC had credit card, overdraft, preferential savings rate and two year's free travel insurance.