Suggestions on first serious credit card as a student

dgmjr2018

Hello everyone, 

I am contemplating on applying for my first serious credit card (at the moment I have the hsbc student cc, which to me is nothing but a credit builder card). 

The main criteria, apart from credit limit and interest rate is rewards (i.e points to redeem at hotels and airlines) and set my sights on the IHG Classic CC (issued by Creation finance) as it ticks all the boxes and already use one of their products (Currys finance agreement)

What I wanted to know if any current or former cardholders would reccomend it and if not, there was a better alternative

cymruchris

If the card you've chosen is the card you want - if they have an eligibility checker - see if you are likely to qualify. You may find that if you don't have much existing credit on your file - you may not get a high limit as a new cardholder, it'll take time to build it up.

PRAISETHESUN

https://www.moneysavingexpert.com/credit-cards/best-credit-card-rewards/
As above, use an eligibility checker before you apply for anything. 

Never heard of the IHG card you mention. At the end of the day, it boils down to what rewards you value the most as "best" is often subjective. Personally I prefer cash rewards, but point-based rewards can also be lucrative if you can make use of them.

Ebe_Scrooge

dgmjr2018 said:

The main criteria, apart from credit limit and interest rate is rewards

It may be worth pointing out - your mention of interest rates implies that you're planning on carrying a balance on the card.  This is not the wisest move, you'll be paying a hefty chunk of interest every month, which will in all likelihood negate the advantage of any points, cashback, whatever.  If you're looking for a credit card, you really should be planning on clearing the balance every month, which means the interest rate is irrelevant as you won't be charged interest.  It's really not a great idea to apply for a card with the intention of carrying a balance right from the outset.

Don80

Going back many, many moons ago, I took out a credit card as a student - unless you're very responsible with money my advice is don't.  When I left college I was left with a minimum wage job, an overdraft and credit card debt - i.e. skint every month. Wait until you have graduated, have a job that pays something more affordable, then worry about getting a card.  If you are certain you can be responsible (and have the income) as others have said, use the eligibility checkers.  

jet01

I think it is a good idea to sign up for the credit cards that most major banks offer to students that have a student current account with them. Which the OP has already done. Use that card regularly whilst a student and pay off in full each month. That way you are building a credit history whilst you are still studying so that when you graduate and get a full time job with a reasonable income you can apply for a decent mainstream credit card straightaway rather than having to get a credit builder card first. 

jonesMUFCforever

These days banks do NOT offer students as a matter of course - students need a salary from paid work in addition to student loans these days.

msallen

The card you're talking about appears to give you one IHG point per pound spent (more if spend is actually in IHG hotels). Unless you are a regular user of IHG hotels and thus have other means of collecting points they'll be practically useless to you as except for the occasional special offer the cheapest reward night you'll find will be probably be 20,000 points for one of the cheaper Holiday Inn Expresses somewhere out of the way, and more likely around 30,000 for one anywhere in demand up to 70,000/80,000 for one of their more luxurious brands. (I used to stay in IHG hotels a lot for work and was a frequent user of the scheme).
As mentioned above, if you are likely to be carrying a balance and paying interest then that will dwarf the value of the any points you earn.