Bad credit and banks don't like giving me accounts. Will I get a student account?

arghindebt

Could really do with one and overdraft so that my first few months bursary/childcare sorts it self out with no problems. I don't have great credit so will I still get offered one?

QuirkyChemistry

If your credit rating is poor then you might not stand a good chance. If you do a search there are several posts of people being refused student bank accounts. In the meantime you could read Martin's credit score record to see if there is anything you can do to improve it. You might have better luck applying through your current bank, which might just change your account to a student one. However I would say it's worth applying. Martin's article on the top student accounts for next year should be out soon. Good luck.

cardiffforthefacup

If you can't get a student account and don't have any other account for having electronic credits you could get a basic account, it doesn't have any overdraft or other benefits but you can use the direct debit facilities, get a hole in the wall card(maybe even a debit card) and have bursaries paid into it. Also check to see if there is a credit union in your area and join up as they do cheap loans. They also now have a current account, which may be easier to get than through one of the banks. Even if you managed to get a student account there is no guarantee that you will be allowed the overdraft facility if you have a previous history of bad credit. Sorry if this is not relevant to your situation, hope it works out for you

mummytofour

Im in the same situation. My kids will be in childcare from sept 1st as they have been in childcare for the last yr but the fees were paid. I dont start uni until sept 29th and the childcare will then will need to wait for my student loans to come in to pay the fees.
I am just going to keep my fingers crossed and try and pay the 15% that the student loans ppl dont pay. My financial situation is just about to go awol as dh leaves work on July 31st and the only income we will have is our savings to pay the mortgage and tax credits. I don't want an OV as I am already on a DMP so more debt is not an option.
I would say just try and wing it until the student loans come in. Avoid anymore debt as we will get enough as it is!

cardiffforthefacup

You could go and see student finance office and see if they can help

Pandora_2

Hi, I have a really bad credit rating, but I was approved by Natwest for the student account and full overdraft, however I was declined for the credit card. I already had a current account with Natwest so that may have helped, so if you already have a bank account, check what their student account is like as it may be easiest to stick with them, but make sure you check out all the accounts for the best deal first. Good luck, and enjoy uni when you get there!!

(And don't worry, if you budget right, you may not even need that overdraft. I haven't touched mine, it's just there as a back up for emergencies. I've always been in privately rented accomodation, so much more expensive than halls, yet all my friends are at the end of their overdrafts!! Silly spenders!! :rotfl: I don't have childcare costs, so obviously my outgoings aren't as high as yours, but I'm sure you will be fine )

lula23

Hello, i also have a poor credit rating, so as an exsiting customer of natwest i decided it was best to try to upgrade my current account to a student account . Sadly its been declined

Was annoyed as i only have around 2k in debts and know of people who have worse, but i guess i probably dont understand the system

Gooluck to you :j