Best card for students

someone

In the student forum there is a thread about should you open a credit card

The main view was if you not going to use it recklessly then its a good idea for the extra protection and help build credit rating for later life.

What is the best card for a students?


My current account is with nationwide, when 18 applied my debit card and they offered a overdraft draft of £1000 (which i told them to reduce). Should I open a nationwide credit card as more likely to get accepted as they know me?

Should I go for the best reward scheme? Just had a quick look and the amazon card looks good, £15 gift certificate for opening one and earning gift certificate's on purchases

Or does anyone have any other suggestions

barclaysguy

Not Advertising - However,

Barclaycard student has the lowest apr (14.9%) that i know of and no over credit limit fees.

someone

Thanks, but the idea raised in the thread was to use it to build up credit rating and not use it to borrow (i.e. pay off in full)

Whats a "over credit limit fee"? I thought if you did not have the credit to buy something they just decline the transaction

NickX

someone wrote: »

Whats a "over credit limit fee"? I thought if you did not have the credit to buy something they just decline the transaction

Not necessarily. If the transaction is for a reasonably large amount, then yes they will require authorisation from the credit card company that there is available credit, however for smaller purchases that are below what is known as the "floor limit", then no electronic check is made and the transaction goes through anyway. If this takes you over your credit limit then you will be charged an overlimit fee.

Kavanne

barclaysguy wrote: »

Not Advertising - However,

Barclaycard student has the lowest apr (14.9%) that i know of and no over credit limit fees.

Do you need to have a Barclays student account to be eligible for this?

OP, be careful what CCs you apply for as some have minimum income criteria so as a student you may just be declined off the bat and end up with a load of credit searches

Halifax gave my bf a student CC when he applied for a student account with them, now the student CC sailed straight through, approved with a limit of £499, but his student account referred then declined. However they still let him have the student CC without the student account. I don't know if this is allowed but you might want to consider them if you don't want to open another current account.

barclaysguy

No you dont need to have student account with barclays. If you have a part time job as well as being a student, if your applying for non student cards put down your in part time employment, some card companies will decline anything if your a student.

SiuLoong

In most cases you are best to go via the bank you have you student account with.. make sure you pay off in full every month and APR is irrelevant, use the credit history you gain whilst a student to get a cashback card in the future, or 0% purchases etc.. etc..

Stubert

I'm currently pondering over this. I'm going to study in the States in August, and want to take a Visa card with me. I've got a Mastercard with my HSBC student account, but its only got a £500 limit which is nothing really.

Looked at Student Barclaycard, but again that's Mastercard. Most other places I think if I apply I'll get turned down, even though apparently my credit rating my with bank is quite good apparently, I don't want it to affect my rating by making it look like I'm desperate for credit.

Somebody I know applied to a couple of credit card companies saying he was a student and got turned down, applied to another saying he was unemployed and got one!

My sister had an Egg card when she was at uni, so would that be the best one to try?
Advise appreciated!

skyrider007

Stubert wrote: »

I'm currently pondering over this. I'm going to study in the States in August, and want to take a Visa card with me. I've got a Mastercard with my HSBC student account, but its only got a £500 limit which is nothing really.
!

I find that MasterCard is equally accepted compared to VISA around the world including the US. You'll be fine with it!

CLAPTON

go for the Nationwide card...its one of only a few that don't add a foreign surcharge when used abroad.

leyo

The new Abbey card doesn't charge when used abroad either.