Student credit card

kieran936

Hi,
I have been looking into getting a credit card just to boost my credit rating but have been unsure on how to go about it or which to get. I currently have a student account with HSBC and another account with lloyds. The student account with HSBC however i have wanted to get rid of and potentially switch the student to lloyds, but i dont know if there are fees etc that would come with that (only had it since september) and then in an ideal world i would have a student lloyds with my credit card on lloyds for ease of management.
could anyone recommend what to do as i can repay any spending i do on the credit card.
I know this is kind of a two part problem as well due to needing to sort my main accounts out at the moment too.
I have no current debts and cleared my overdraft of £50 on the student overdraft fine without going near my limit.

Savy.Student

Hi, you shouldn't incur any charges from switching your student account. I switched from Lloyds to Santander ( £1500ish into the overdraft and they still allowed me) to nab the free 4 year railcard, after I thought I was going to have to take my car off the road. But I actually stopped the switch from happening and have stayed with Lloyds as I hated Santanders online banking interface and snail mail correspondence procedures. I would recommend going through the T&C's of your current student account though, just to double check.

Lloyds advertise a student credit card ( as long as you've had their student account open for 3 months I believe), and I personally like to have my credit card (not student one though) easily manageable along side my current account and I love how Lloyd's have this feature on their online banking. Hope this helps

mandySaver12

It's worth looking at the credit building cards on MSE. They're more likely to accept you given your low income (state your student loan/bursary/grants as income) and recognise you don't have that credit history some other cards require. Only warning is if you don't pay it off in full you're probably liable for a higher interest rate making the card pointless