Student credit cards - do they exist?

WillPS

aris said:

WillPS said:

aris said:

GrumpyDil said:

When you say I'd prefer not to surely that should be what your child prefers as if they are old enough to get a credit card then they are old enough to make their own decisions.

As an aside my daughter has her main bank account with nationwide and has just opened a student account and got a credit card from Natwest without having to move from Nationwide. 

Ok, we'd prefer. 

If it comes to that - he may well open a second account

Sounds like you're getting a little too involved in your adult child's finances.

You should present the options and allow them to decide or ask you or somebody else for further advice.

Thanks for the unsolicited parenting advice 

I’ll present the options to him once I have them.  Finance is full of pitfalls - it is my job as a parent to guide him in the right direction.

The two options for student credit cards have been posted.

The other options are all open market credit cards which will probably not be available unless your child has an income over and above what is available via SLC or high-interest/poor credit history cards.

"Not wanting to open another bank account" isn't a pitfall, it's an opinion/desire which you seem intent on forcing on your child. In fact, having only one bank account is in and of itself problematic and you'd be wise to flag up the risk should their one account become unavailable.

aris

WillPS said:

"Not wanting to open another bank account" isn't a pitfall, it's an opinion/desire which you seem intent on forcing on your child. In fact, having only one bank account is in and of itself problematic.

How do you know it isn't their wish either?  Please stop making assumptions and criticising how other people choose to run their lives.  This isn't a parenting forum.

Emmia

Does your son actually want a credit card? I don't want to be critical, but at 21 they are an adult, so should be able to open accounts, apply for credit card(s) etc., if they want one.

Looking at the responses on the thread, you seem to be very "involved" in a way that (personally) I think comes across as somewhat controlling or infantilises them - do you also go on dates to vet potential partners? Do you buy their clothes for them? Perhaps you need to step back and let them live their life and make their own decisions / mistakes.

If you want them to have a credit card and and you're happy to pay the bill, you could always make them an additional card holder on one of your accounts.

They're 21 - loads of time for credit cards, building their file etc. what's the rush?

aris

Emmia said:

Does your child actually want a credit card? I don't want to be critical, but at 21 they are an adult, so should be able to open accounts, apply for credit card(s) etc., if they want one.

Looking at the responses on the thread, you seem to be very "involved" in a way that (personally) I think comes across as somewhat controlling or infantilises them - do you also go on dates to vet potential partners? Do you buy their clothes for them? Perhaps you need to step back and let them live their life and make their own decisions / mistakes.

If you want them to have a credit card and and you're happy to pay the bill, you could always make them an additional card holder on one of your accounts.

They're 21 - loads of time for credit cards, building their file etc. what's the rush?

Yes - he wants to travel.  Had a huge nightmare last year as he and his university friends had purchased air travel for a holiday in Japan which was then cancelled due to lockdown.  Took a long time to get refunds all the while not sure if he would get them at all, and as he paid by debit card (for all of them), it was a very nail biting experience as there is no legal protection whatsoever.  Yes, some banks (including Barclays) will step in when paying with their Debit cards - but that is on them, and not the law under S75.  Not only that - but many hotels require a credit card pre-auth swipe, and also car rental companies need them too.

Credit cards, when used properly, are a very useful tool.  Of course, they can be misused too - but I can't see it happening with him - he's too sensible.  If he does go overboard - then he'll learn a hard lesson.

Please stop being so insulting on my parenting.  It is really none of your business. I give him an an allowance (think of it as a salary) every month, and he pays for his accommodation, food, clothes, presents, socialising, etc.  It is up to him how he budgets it, and from what I understand, he even saves a bit every month too.  He's a sensible kid - but thanks for your concern.

I could give him a card under my name - but that would be even more "controlling".  He just needs his own card, which he pays off at the end of each month, and can use where credit cards make most sense - like S75 protection. 

Emmia

aris said:

Emmia said:

Does your child actually want a credit card? I don't want to be critical, but at 21 they are an adult, so should be able to open accounts, apply for credit card(s) etc., if they want one.

Looking at the responses on the thread, you seem to be very "involved" in a way that (personally) I think comes across as somewhat controlling or infantilises them - do you also go on dates to vet potential partners? Do you buy their clothes for them? Perhaps you need to step back and let them live their life and make their own decisions / mistakes.

If you want them to have a credit card and and you're happy to pay the bill, you could always make them an additional card holder on one of your accounts.

They're 21 - loads of time for credit cards, building their file etc. what's the rush?

Yes - he wants to travel.  Had a huge nightmare last year as he and his university friends had purchased air travel for a holiday in Japan which was then cancelled due to lockdown.  Took a long time to get refunds all the while not sure if he would get them at all, and as he paid by debit card (for all of them), it was a very nail biting experience as there is no legal protection whatsoever.  Yes, some banks (including Barclays) will step in when paying with their Debit cards - but that is on them, and not the law under S75.  Not only that - but many hotels require a credit card pre-auth swipe, and also car rental companies need them too.

Credit cards, when used properly, are a very useful tool.  Of course, they can be misused too - but I can't see it happening with him - he's too sensible.  If he does go overboard - then he'll learn a hard lesson.

Please stop being so insulting on my parenting.  It is really none of your business. I give him an an allowance (think of it as a salary) every month, and he pays for his accommodation, food, clothes, presents, socialising, etc.  It is up to him how he budgets it, and from what I understand, he even saves a bit every month too.  He's a sensible kid - but thanks for your concern.

I could give him a card under my name - but that would be even more "controlling".  He just needs his own card, which he pays off at the end of each month, and can use where credit cards make most sense - like S75 protection. 

Then simply tell him to apply for a card under his own steam. You don't need to be involved, call up the companies etc. for him.

aris

Emmia said:

aris said:

Emmia said:

Does your child actually want a credit card? I don't want to be critical, but at 21 they are an adult, so should be able to open accounts, apply for credit card(s) etc., if they want one.

Looking at the responses on the thread, you seem to be very "involved" in a way that (personally) I think comes across as somewhat controlling or infantilises them - do you also go on dates to vet potential partners? Do you buy their clothes for them? Perhaps you need to step back and let them live their life and make their own decisions / mistakes.

If you want them to have a credit card and and you're happy to pay the bill, you could always make them an additional card holder on one of your accounts.

They're 21 - loads of time for credit cards, building their file etc. what's the rush?

Yes - he wants to travel.  Had a huge nightmare last year as he and his university friends had purchased air travel for a holiday in Japan which was then cancelled due to lockdown.  Took a long time to get refunds all the while not sure if he would get them at all, and as he paid by debit card (for all of them), it was a very nail biting experience as there is no legal protection whatsoever.  Yes, some banks (including Barclays) will step in when paying with their Debit cards - but that is on them, and not the law under S75.  Not only that - but many hotels require a credit card pre-auth swipe, and also car rental companies need them too.

Credit cards, when used properly, are a very useful tool.  Of course, they can be misused too - but I can't see it happening with him - he's too sensible.  If he does go overboard - then he'll learn a hard lesson.

Please stop being so insulting on my parenting.  It is really none of your business. I give him an an allowance (think of it as a salary) every month, and he pays for his accommodation, food, clothes, presents, socialising, etc.  It is up to him how he budgets it, and from what I understand, he even saves a bit every month too.  He's a sensible kid - but thanks for your concern.

I could give him a card under my name - but that would be even more "controlling".  He just needs his own card, which he pays off at the end of each month, and can use where credit cards make most sense - like S75 protection. 

Then simply tell him to apply for a card under his own steam. 

That's the point of this thread.  To get suggestions on what is available for students.  It isn't a parenting thread.

QrizB

I think we're all vigorously agreeing here.

• There are no standalone "student credit cards".
• He currently banks with Barclays. Will they give him a card?
• If not, he can open a student back account and get a credit card that way (WillPS says TSB and HSBC are good bets).
• If he really doesn't want a second current account, he can try for a credit builder type card

It's really not that weird to have a second current account. I've had the same main account since the 80s but have had others along the way, including joint accounts with Mrs QrizB. It's become even easier since internet and app-based banking, you can move money between accounts at the touch of a button.

aris

QrizB said:

I think we're all vigorously agreeing here.

• There are no standalone "student credit cards".
• He currently banks with Barclays. Will they give him a card?
• If not, he can open a student back account and get a credit card that way (WillPS says TSB and HSBC are good bets).
• If he really doesn't want a second current account, he can try for a credit builder type card

It's really not that weird to have a second current account. I've had the same main account since the 80s but have had others along the way, including joint accounts with Mrs QrizB. It's become even easier since internet and app-based banking, you can move money between accounts at the touch of a button.

Barclays refused on their simple 'eligibility' questionnaire online.  They have no option for 'student' under employment - so i'm presuming they don't want students.  It is impossible to get a human on the phone to get a reasoned response to this.  

QrizB

aris said:

QrizB said:

I think we're all vigorously agreeing here.

• There are no standalone "student credit cards".
• He currently banks with Barclays. Will they give him a card?
• If not, he can open a student back account and get a credit card that way (WillPS says TSB and HSBC are good bets).
• If he really doesn't want a second current account, he can try for a credit builder type card

It's really not that weird to have a second current account. I've had the same main account since the 80s but have had others along the way, including joint accounts with Mrs QrizB. It's become even easier since internet and app-based banking, you can move money between accounts at the touch of a button.

Barclays refused on their simple 'eligibility' questionnaire online.  They have no option for 'student' under employment - so i'm presuming they don't want students.  It is impossible to get a human on the phone to get a reasoned response to this.  

OK, that leaves the latter two options; a stucent bank account with HSBC or TSB, or a credit builder card.Does he have Amazon Prime? If so the Amazon card might be an option?

WillPS

aris said:

WillPS said:

"Not wanting to open another bank account" isn't a pitfall, it's an opinion/desire which you seem intent on forcing on your child. In fact, having only one bank account is in and of itself problematic.

How do you know it isn't their wish either?  Please stop making assumptions and criticising how other people choose to run their lives.  This isn't a parenting forum.

It's not about parenting, it's about allowing any capable adult to make their own informed decisions independently. You kind of gave away that it was your desire rather than your son's by answering "I'd prefer not to" to another poster.

None of us have the ability to invent a credit card, there are very good reasons why availability of these products is controlled. Barclays do not have to give your son a card regardless of any banking history either of you currently have.

Invite your son to use an eligibility checker, and if none of the offers on there are promising, then the account with TSB or HSBC is likely the only possibility.

If your son doesn't want to do that, that's up to them, isn't it? Nobody actually needs a credit card, it's not like a history of holding one is an absolute necessity to get a mortgage, nor is it a necessity for travel.

Your son should also be advised that the credit limit is likely to be extremely limited on any card (probably £500 or less), which would limit his ability to maximise S75 coverage (remember that it only works on products which cost over £100).

You could perhaps invite him to look over the many threads posted by people who have not succeeded in getting their flights and hotel costs refunded in the last year on the grounds the hotels and flights were available even though the cardholder was unable to use them. Travel insurance is what your son would need in these circumstances more than S75.