First Credit Card?

GimmeSomeCredit

Hi guys.

I am with Natwest as my bank and I have just had my current account converted to a student account and I have also applied for the £2000 overdraft as one of the benefits that come with the student account. So firstly, will I have been credit checked for this, and does this mean I should wait a week before applying for a credit card?

Onto the credit card itself - I am not sure what to do first. I am highly attracted to the aqua Reward credit card with 0.5% cashback, as since it is aqua they are more likely to accept me. But the thing is with Natwest they offer the student credit card and has one of the lowest interest rates for someone starting on credit at 18.9%, though the eligibility checker tells me I'm unlikely to be accepted which surprises me given I am supposed to be a student and have limited credit history. I was thinking it might be an idea to start with the aqua card to better my credit then maybe get the Natwest for low interest somewhere down the line? Obviously I'm aiming not to pay a penny of interest lol, for the record.

Thanks for reading and feel free to let me know what you guys think!

cjmillsnun

You're a student. The last thing you need is a credit card.

Please watch this. Rates are different and the student loan financing system is different because this is from '07 however the concept is still good.

https://www.youtube.com/watch?v=DLkxA53qWts

GimmeSomeCredit

Ah lol since making this post I have applied and gotten accepted. I don't intend to spend more than I actually have or anything like that, I just want to build a credit profile.

GimmeSomeCredit

In general what's the average amount of money that people tend to save away in their savings account per month?

[Deleted User]

An average would be meaningless.

Save as much as you can.

eskbanker

GimmeSomeCredit wrote: »

In general what's the average amount of money that people tend to save away in their savings account per month?

The average amount is:

Average income
minus fixed outgoings (mortgage/rent, utilities, etc)
minus mandatory variable outgoings (food, etc)
minus discretionary variable outgoings (entertainment, etc)

Voila!