What counts as income for students?

Aquamania

^^^
... for a student but without a job, it's presumably irrelevent nowadays with Lloyds?
(If I understand correctly, all it may do, if you have a job, is possibly allow you a higher credit limit than you would otherwise be granted)

Can I just say that, in the past, when I was a student, Lloyds bank gave me my first credit card even though I had no job. They even gave me a credit increase a year or so later, whilst still a student and no job.

I no longer have a credit card from Lloyds - I closed it when Lloyds thought it would be a good wheeze to start charging an annual fee
(something Lloyds later realised was a huge mistake, so changed policy again)

Despite being bombarded with regular requests to take out a Lloyds credit card, no thanks.
(I've told Lloyds in the past to stop sending this junk mail, but it starts up again after a while - in fact that was originally why I applied for the credit card, constant bombardment and I hoped a refusal letter would stop it, but you sent a credit card instead ... which did stop the letters inviting me to apply for a credit card anyway, whilst I actually held one)

But thank-you for clarifying Lloyds current stance towards students -I've a nephew who will be looking to open his first bank account soon: I'll warn him.

There was once a policy to attract banking customers when they were young, especially uni students who usually earn/spend more later in life than those without a degree, as once onboard, people don't tend to ever leave, (unless you then go and annoy them by charging fees that others don't) - even today you are more likely to get divorced than change your bank account.

My niece, who is a student and has no form of employment, had no problems getting a credit card from her bank, HSBC.

Lloyds_Bank

TartanSaver wrote: »

So student finance, which essentially comes from the government, and is agreed in advance, is less reliable than part time work with no job security? "Contractual" salaries can be ended at any time up to 2 years, with no legal recourse for employees. A significant majority of working students will not have been in their jobs for 2 years. A lot of students will be on zero hours "contracts". Students have no recourse to benefits.

Also, you apply this logic to student grants, which are entirely free, and also agreed in advance. They can be easily evidenced in the form of documentation from the awarding agency. This seems quite illogical.

Hi TartanSaver,

As I mentioned, we do take sustainability into account as a credit card is a long term lending product. As a responsible lender, during an application, we take into account expected level of sustainable income. On forms of income we allow, the assumption is that it'll be maintained unless the customer tells us they're on a fixed term contract or makes us aware of a change in their circumstances (e.g. they've just been made redundant). Forms of income such as a student grant or loan, which we don't allow, are only for a fixed term.

If a customer loses their job after taking out a credit card with us, as I mentioned to Archi Bald, ideally, they'll contact us to determine the best way to manage their credit card account. If we're not informed and the cardholder experiences difficulties making payments, account management, pre-collections and collections processes are designed to support them and manage limit and payments inline with their situation.

Thanks,

Craig