Credit cards for students

Anyone managed to find a credit card for a student with no income except a student loan?
Trying to get a credit rating!

Comments

  • bigadaj
    bigadaj Posts: 11,531
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    Have you tried the bank you have your current account with?
  • Most bank accounts now need a salary being credited to student account to qualify for a student credit card.
    The only ones I would suggest may help is Aqua or Capital One.
  • dm19
    dm19 Posts: 40
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    As a student I have a HSBC credit card (also have their student account) and a capital one credit card, £500 and £750 limits respectively.
  • SHill
    SHill Posts: 146 Forumite
    Can I ask what the interest rates for each cc?
    Or how long the promotional rate is for?
  • SHill wrote: »
    Can I ask what the interest rates for each cc?
    Or how long the promotional rate is for?

    Interest rates are irrelevant if you pay it off in full.

    If you need credit and are a student, a credit card is not the best method giving most banks offer interest-free overdrafts (when I was a student I think I had 3 at one time).
  • The idea was not to get free credit per se but to pay off in full to start getting a credit rating. I have 2 student bank accounts, lloyds and santander and neither will approve unless have £5k income.

    I'll take a look at Aqua and Capital One. Thanks
  • dm19
    dm19 Posts: 40
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    HSBC is 18.9 and cap1 is 34.9 I believe. I always pay off in full, and would recommend doing the same. If you want a bit of cashback maybe go for aqua? Neither of my cards had a promotional period, that wasn't something I was looking for.
  • Vectis
    Vectis Posts: 658
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    Shepherd97 wrote: »
    Anyone managed to find a credit card for a student with no income except a student loan?
    Trying to get a credit rating!



    Why are you 'Trying to get a credit rating'? What are you hoping to use the credit for, as a student?

    Honestly, the last thing you need if you've got no income is a line of credit just waiting to be used. And, you know, at some stage you will use it - either through peer pressure at Uni to spend money or something else which comes up. Stick with a debit card and live within your means. Stop worrying about 'building a credit rating' there's time for all that later. You've got (or should have) other things to think about at University. Getting a credit card shouldn't be one of them.

    Revisit the credit card idea when you've got a job and a steady income.
  • You missed the point, was not about getting credit, but getting a credit rating / score. Just because you have no current income doesn't mean you have no money!
  • SuperHan
    SuperHan Posts: 2,269
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    Natwest do one and it has an eligibility checker too.


    Although I think it used to be in the T&Cs of Natwest student accounts that you couldn't hold a student account anywhere else, so you may have to surrender the Santander and Lloyds accounts.


    I wouldn't bother with Aqua/C1 etc - they shouldn't and probably won't lend to you without a salary.


    Also make sure you know what you're doing - asking for the interest rate when you intend to pay it back in full concerns me. I don't have any idea of the interest rate on most of my cards (and I cycle at least £2k a month through some of them). If I ever want to lend money and not pay it back, I wouldn't do it on one of my existing cards as it's not usually a cost effective way of financing yourself.
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