Student credit cards

ocker107

I currently have a visa card with HSBC, with a balance of £4000. The interest on this each month is aprox. £60-70. I pay the minium balance by DD every month & have no other cards, and the only loan I have is a student one. I have tried to do balance tranfers with a number of companies - 0% & low interest cards - but have failed!

I have just discovered my brother, who lives at the same address, went into voluntary bankruptcy 18 months ago. Is this likely to affect my chances of credit, or is it because I am a student nurse?

Would appreciate some guidance.

Galstonian

It is quite likely to have an effect but it is impossible to say without obtaining your credit reports. Instructions on how to do that are contained in another post on this board. If you find that you and your brother are financially associated but you do not share any accounts with him you can apply to be disocciated from him so that his dealings should not affect yours. There is also the possibility that the address is listed with a CIFAS code against it, this should not affect your eligibility but may mean you have to go through extra steps to prove who you are.

Hope this helps.

CIMA_LOVER

maybe your HBSC credit card does not report you payment performance to any Credit Refenace Agencies? (I.e you have no credit history according to them)

Most HSBC accounts dont report to CRA! (I got mine 2 months ago and they have reported any thing. which is good and bad.................................. but bad in your case, as you said you have no other credit cards, so I do you have any any credit history. :eek:

Galstonian

HSBC are now reporting to CRAs, I understand this will apply to all their cards. Two months is not an unusual amount of time for a new account to take to appear.

CIMA_LOVER

Not for existing with a number of years. I have two emails from HSBC confirming this, but they from the 1st August 2005? I honestly think that the OP has no credit history due to HBSC's not reporting to CRA, thats why he cant get a 0% card.