Credit Card application: student funding not counted as income?

Mr_Hoppy88

Hi guys.

At 28 I've just quit my job and I am about to start a teacher training course in September, for which I will be recieving a tax free government bursary of £25,000 (~£2050pcm). At the end of the course I am almost guaranteed to walk into a job paying a similar amount, but taxed.

To prepare for the course I need to buy a car (travel is essential) and put a deposit down on a flat. For this I want to get a '0% interest for ## months' credit card borrowing about £3000 and pay it back monthly over 24 months.

After calling my bank (who I've been with ~16 years) they said I was not eligible because bursaries count as £0 income.

Can anyone recommend a) a company that will consider a bursary as income, b) a possible solution, c) companies they have successfully got a credit card with as a student.

I though a £ in my bank was a £ in my bank, but I guess that's not the case in my banks eyes. Any help would be greatly appreciated.

Thanks,
James

jonesMUFCforever

Your best hope is called the credit card of mum and dad.

What would happen if you fail to complete the course or decide it is not for you and quit?
Would you not then think the bank had been reckless in giving you credit without a secure source of repayment?

Mr_Hoppy88

Yeah I certainly get the risk on the banks part. I just wondered if there was a way around it with a guarantor or something.

Unfortunately the bank of Mum and Dad is not something I am willing to use.

MallyGirl

so who would be your guarantor?

jonesMUFCforever

Mr_Hoppy88 wrote: »

Yeah I certainly get the risk on the banks part. I just wondered if there was a way around it with a guarantor or something.

Unfortunately the bank of Mum and Dad is not something I am willing to use.

Who would be stupid enough to be a guarantor for you?