Opening a student bank account but bad credit history...

Bitbap18

I'm a mature student about to start my degree and want to open a student bank account, but my credit history isn't good. I've tried Martin's top recommended account with Santander (as I wanted the rail card) but been refused due to my credit record...is there anything I can do about this and if so how? I'm guessing it's not worth me applying to others? Credit record is due to debts previous incurred and now partially settled...

john1002

Try the new nationwide student account. They are a bit more flexible.

John

Bitbap18

Thanks John...they were one of my creditors until very recently so not hopeful!

colsten

Why do you want a student account?

Bitbap18

Because ideally I wanted the railcard, as I said originally. I wanted to get my student loan paid in there and then move some across to my main account when I need it, to help me budget.

colsten

AFAICS, Santander are the only ones doing a railcard and they have turned you down. So if the railcard was your only reason, it looks like you have run out of options.

jonesMUFCforever

If your credit rating is so bad that you do not qualify for an overdraft/loan/credit card from your existing bank then you may not qualify for a student account.

Is it worth it? You can still buy it for £30 as any other railcard as long as you have the proper documentation.

Bitbap18

It's not my existing bank, I have no issues with them at all, but they don't offer a student account.

Dobbibill

Maybe your best option is to open a secondary account, even if this is a basic account to help you budget. It can be your own bank or a different provider.

The student accounts aside from railcards/nus cards etc normally are preferred purely for the overdraft facility, with previous debts this probably isn't going to be available to you anyway as it's never guaranteed and always subject to application and approval [just like an overdraft on any other account].