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Student bank account - should I ditch my old one?
shelleywa
Posts: 125 Forumite
Hi all,
I'm about to begin a 4yr degree course and want to apply for the Santander student account, which offers a free railcard.
I have been with my current bank for over 12yrs and want to know the pros/cons (if any) of keeping this account open? Will it help with credit checks, for example? Or will I gain nothing from this and would be better off just switching?
Thank you! :j
I'm about to begin a 4yr degree course and want to apply for the Santander student account, which offers a free railcard.
I have been with my current bank for over 12yrs and want to know the pros/cons (if any) of keeping this account open? Will it help with credit checks, for example? Or will I gain nothing from this and would be better off just switching?
Thank you! :j
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Comments
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Keep it. There are no any 'cons'.0
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Incidentally, I am starting up a small therapy business to help fund living costs, so maybe I should use the old account purely for those small business transactions... But that's a whole new kettle of fish
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This isn't legal, you would have to open a business account to do that.Incidentally, I am starting up a small therapy business to help fund living costs, so maybe I should use the old account purely for those small business transactions... But that's a whole new kettle of fishCredit 'Score' - Don't buy the credit 'score' that Experian, Equifax and Noddle want to sell you. It's an arbitrary number that means nothing when it comes to applying for credit.
ALWAYS HAVE A DIRECT DEBIT SET UP FOR THE MINIMUM PAYMENT ON YOUR CREDIT CARDS, REGARDLESS OF WHETHER YOU PLAN TO LOGIN AND PAY EACH MONTH.0 -
I thought this was legal for very small startups/sole traders?0
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It is legal but it may be against the terms and conditions of the bank account, which could result in them closing the account.0
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Thanks for confirming! It would only be for a short while until I have an income regular enough to justify opening a whole new business account for. So will take my chances
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