Fellow students or under-22s on this forum?

iAMaLONDONER

Hello.

Are there any current or recent students here who can share experiences in the world of credit.

I feel we are under-represented on this forum lool

I'll add to this later

iAMaLONDONER

I'm 18 have a CC with Lloyds just raised to 1.25k after 6 months and a 1k student OD with them

Just got 500 from Luma with 0% till July so I'll stooze for a bit!

I'm considering going to HSBC but opening a bank account is taking so long it's annoying never mind having to try and get their elusive 3k OD!

pmduk

There is a specific student money saving forum here, perhaps that's where they hang out?

Herbalus

Assuming a lifetime of credit stretching 50 years, the 5 (or fewer) of being a student accounts to 10% or less. And consider that most products, like decent 0% deals, balance transfers and the Halifax Clarity, are unavailable or undesirable to students, and there's little reason for them to be here.

Also, the majority of student's I know don't seem to be as eager as you to get as much credit as possible (as well as deliberately into their overdraft). The ones that did - it didn't end well.

Dragonista

I'm 22. Had a CC when I was working aged 18 but never used it (and never needed to). Had a Student CC at uni but again never used it or needed to. Now I want a CC to build up a UK credit rating I can't because I am working overseas (non-resident for tax). Can't get a CC where I am because I don't earn enough (normally over £40k requirement, there are a few lower ones but being a recent graduate my salary isn't that high!)

iAMaLONDONER

Dragonista wrote: »

I'm 22. Had a CC when I was working aged 18 but never used it (and never needed to). Had a Student CC at uni but again never used it or needed to. Now I want a CC to build up a UK credit rating I can't because I am working overseas (non-resident for tax). Can't get a CC where I am because I don't earn enough (normally over £40k requirement, there are a few lower ones but being a recent graduate my salary isn't that high!)

40K! I hear people on benefits have credit cards in the UK lool!

DunPin

Herbalus wrote: »

Also, the majority of student's I know don't seem to be as eager as you to get as much credit as possible (as well as deliberately into their overdraft). The ones that did - it didn't end well.

From my time at uni I would say a fair few people had credit cards and were constantly in their overdrafts, I for one most certainly was, had to fund the party lifestyle somehow that said it didn't end badly for me nor others I know that did the same, I would actually say it benefitted me in many ways.

iAMaLONDONER

Herbalus wrote: »

Assuming a lifetime of credit stretching 50 years, the 5 (or fewer) of being a student accounts to 10% or less. And consider that most products, like decent 0% deals, balance transfers and the Halifax Clarity, are unavailable or undesirable to students, and there's little reason for them to be here.

Also, the majority of student's I know don't seem to be as eager as you to get as much credit as possible (as well as deliberately into their overdraft). The ones that did - it didn't end well.

I'm stoozing rather than living beyond my means!

Calfuray

I'm 22 and a student.

Not sure what you're looking for?

I have couple of current accounts and savings accounts to get the most interest possible. Have a credit card and a mortgage. Concentrating on become mortgage free rather than stoozing.

Herbalus

DunPin wrote: »

From my time at uni I would say a fair few people had credit cards and were constantly in their overdrafts, I for one most certainly was, had to fund the party lifestyle somehow that said it didn't end badly for me nor others I know that did the same, I would actually say it benefitted me in many ways.

Of course. Tonnes of people at university are in overdrafts and have credit cards. The difference is that most of them would have preferred not to be in them, whereas the OP seems to enjoy having them.

iAMaLONDONER

Herbalus wrote: »

Of course. Tonnes of people at university are in overdrafts and have credit cards. The difference is that most of them would have preferred not to be in them, whereas the OP seems to enjoy having them.

I'm not in net debt

I pay my balance in full, I've just been quicker than most my age to embrace credit