Student Credit Card

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Slogan

Soldato
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Hello folks, just a bit of background info and few quick questions in regards to the credit card. I have searched and found some useful info but I thought I'd make a thread just to be sure about my situation.

I don't have a job (as I don't need one at this point in time) but I'm getting pretty tired of paying through parents for online things. I'm usually very good with money and never spend more than I have. Debt really wouldn't be an issue which is probably the first alarm bell for all credit card applicants.

I'm with the Nationwide at the moment, where I can't even get a debit card. I have applied a few times and have been told that there needs to be a regular income to get a card with them. I have been with them many years and always have a positive balance so I'm thinking of switching over to a bank that will give me a bit more leverage in what I can do.

I've looked at a few different credit cards. I still have to learn all the terms that come with it and what the numbers mean but I'm just wondering is having a card at my age (19) at Uni, plausible? I'd rather know from people who have been in the same situation rather than try about banks with zero chance of getting anywhere and it all just being a waste of time.

Furthermore, what are the chances of opening a new bank account and getting a credit card with that?

Any recommendations on cards and banks would be welcome. Will also be making a trip to Martin's site shortly.

Thanks. :)
 
Open a new bank account and get a debit card.....I don't understand why natwest didn't give you one when you changed yer account to a student account. Every one I know did.
 
HSBC give you a credit card automaticaly and Barclays (please don't go here) will let you apply for a barclaycard at the same time you open. Both give a low default credit limit of around £600 though.

EDIT - Yes it is extremely possible. I had a HSBC and Barclaycard, a capital one card and an egg card at uni. (NB: I was never in debt, it was just handy having multiple cards).
 
Try a different bank, as long as you have a student account you can apply for a student credit card (they don't base it on income, they just give it to you with a limit of £500).
Do nationwide do a student credit card? if so, are you applying for that or for a normal credit card?
 
I've had a debit card with Nationwide since i was 17. Flexaccount with a visa card mine is. Also have my student account with NatWest with a Maestro.
 
Chris1712 said:
I've had a debit card with Nationwide since i was 17. Flexaccount with a visa card mine is. Also have my student account with NatWest with a Maestro.
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Are you positive? Nationwide do not offer debit cards to under 18s.

If you would like to upgrade your FlexAccount and have a debit card facility you may be eligible if your account is well conducted.

However, there are circumstances where we would not be able to consider upgrading your account, which include:


  • if you are under age 18
  • your existing account has been open for less than 7 months
  • you have applied for an upgrade within the last 4 months
  • your account has recently been overdrawn without authorisation
  • other Nationwide products you hold have been in arrears
  • your account has not been used in the last 3 months
  • loans, mortgages or credit cards you hold with other providers have been in arrears
  • you are currently bankrupt or subject to an Individual Voluntary Arrangement (IVA)
If none of these circumstances apply to you, you may be eligible for an upgrade. Please visit your local branch to apply.
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(from here)

You can open FlexAccounts under 18 but you cannot get their Visa debit card until you are 18. Maybe you opened it age 17 but received the debit card age 18?

To the OP, I would move from Natiowide - they are not offering you what you need. They have quite good interest on their under 18s saving account, which you obviously are too old for now. You should open a current account with any bank who can give you a debit card (which will be virtually every bank). Personally, I'm with HBOS. They are not brilliant but all I ever need from them is to buy stuff online, so they serve their purpose. Also, have a savings account with the same bank that allows you to transfer money freely. It may be best to choose your bank around the interest rate of the savings account and then get your current account sorted with that bank.

I advise this because you can then have an arrangement like this:

  • Enough money in the current account to cover your forseeable transactions.
  • Rest of money in savings account accruing interest.
  • Whenever you want to make a big purchase you can transfer money from savings to current account - obviously this is the advantage of having both accounts with the same bank as this will be instant; otherwise it would be 3/4 days.

I would say you are right in wanting to avoid a credit card at this stage. They have their benefits but as a student you don't want the temptation of interest free credit at your beck and call!
 
Thanks very much for the help. :)

The card I have with Nationwide at the moment is some sort of debit card but it's not widely accepted in places where I shop, so it's really of no use to me. I applied for some sort of visa debit card (I think...) and thats the one that was rejected.

Will certainly look into the HSBC. Think the credit limit is £500 but to be honest I'd be very surprised if I was ever in the red - it's just a case of being able to spend £x and have it leave my account directly.
 
Slogan said:
Thanks very much for the help. :)

The card I have with Nationwide at the moment is some sort of debit card but it's not widely accepted in places where I shop, so it's really of no use to me. I applied for some sort of visa debit card (I think...) and thats the one that was rejected.

Will certainly look into the HSBC. Think the credit limit is £500 but to be honest I'd be very surprised if I was ever in the red - it's just a case of being able to spend £x and have it leave my account directly.
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Get a Maestro card, then. They are the most common debit cards and they are accepted everywhere. Visa Debit and Visa Electron are now also accepted everywhere where Visa is accepted, if I remember correctly.
 
CREDIT CARD = NOOOOOOOOO!


i was 20 before i finally gave in to just a small card while i was at uni. its nice as when you get a bit stuck, you use it, but then the circle begins.

now i am careful with my money, part of my job is finance and administrations management but those B&^*$%^£ managed to really guff me up by throwing credit cards at me right at the times when i was worst off, i.e. middle of the month, not to mention the offers off "transfere your other debts to your card" and x% back per purchase yada yada.

The entire system is designed to keep people on lower to middle incomes hooked on that card, have you never asked yourself why only people whose incomes are above a certain upper bracket are eligible for the lower interest rated cards (i.e. 9 to 12% apr) whilst those on low incomes can only get the 15.9 to 25% apr cards...

Take my advise, avoid it like the plague, stick to a debit card, if you want more money get a small low interest loan and pay it back monthly. do not under any circumstances get a credit card, no matter how enticing the initial offer may be.
 
I think the debit card (mastercard, maestro or whatever) is what I'm after. I'm simply looking something that I can pay my way with. As it stands I'm buying things, handing cash to parents and saying 'such and such came out, here's the cash' -it's just really inconvenient.

Despite the title and after a bit of research, a credit card isn't actually what I'm after. Pointed out a little later in the thread.

Am I right in thinking you can't book a hotel room without a credit card though? For the likes of that the credit card would be handy, but the debit card seems to be exactly what I am in need of. :)
 
XanderThal said:
CREDIT CARD = NOOOOOOOOO!
.....
Take my advise, avoid it like the plague, stick to a debit card, if you want more money get a small low interest loan and pay it back monthly. do not under any circumstances get a credit card, no matter how enticing the initial offer may be.
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you just suck/sucked at using money responsibly
 
Slogan said:
I think the debit card (mastercard, maestro or whatever) is what I'm after. I'm simply looking something that I can pay my way with. As it stands I'm buying things, handing cash to parents and saying 'such and such came out, here's the cash' -it's just really inconvenient.

Despite the title and after a bit of research, a credit card isn't actually what I'm after. Pointed out a little later in the thread.

Am I right in thinking you can't book a hotel room without a credit card though? For the likes of that the credit card would be handy, but the debit card seems to be exactly what I am in need of. :)
Click to expand...

you can book a hotel with any normal debit card. Solo, and visa electron are very stunted basic account cards, you cant do much with them at all. personally i recommend a barclays account, ive had mine for 15 years, had a visa connect card since i was 18 and its perfect.

ideally you want a visa maestro or switch DEBIT card.

digisatman said:
you just suck/sucked at using money responsibly
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actually i was very good with my money, but considering your going to make sweeping generalisations without having a bloody clue what your on about let me inform you otherwise.

Picture being 19, you have no family support, your working on the weekends, paying for a flat you've lived in for 2 years and commuting by bus 33 miles per day to uni. you have rent, electric, water, gas, transport, fee`s, communications(net, mob, phone) and uni equipment to pay for and a weekend job just isnt cutting it. and despite your best efforts during that first year, you finally just run out of money and you just cant work any more hours than you do or else your course work will suffer.

my only mistake was in using credit cards instead of going for a small low interest loan over 5 years.

try not to be so smart in future until you know the details of the subject at hand.
 
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Slogan said:
I think the debit card (mastercard, maestro or whatever) is what I'm after. I'm simply looking something that I can pay my way with. As it stands I'm buying things, handing cash to parents and saying 'such and such came out, here's the cash' -it's just really inconvenient.

Despite the title and after a bit of research, a credit card isn't actually what I'm after. Pointed out a little later in the thread.

Am I right in thinking you can't book a hotel room without a credit card though? For the likes of that the credit card would be handy, but the debit card seems to be exactly what I am in need of. :)
Click to expand...

debit card is fine, but you get protection using a credit card, unless you cant understand money dont grow on tree's then get a credit card.
 
Just watch out, you may not actually be able to get a student account. I tried with Natwest to get one and, even though I have a flex account with Nationwide (with debit card), and have never been in debt they wouldn't give me one. The woman said it's a pretty common occurance and the majority of non Natwest students are declined.
 
Slogan said:
I think the debit card (mastercard, maestro or whatever) is what I'm after. I'm simply looking something that I can pay my way with. As it stands I'm buying things, handing cash to parents and saying 'such and such came out, here's the cash' -it's just really inconvenient.

Despite the title and after a bit of research, a credit card isn't actually what I'm after. Pointed out a little later in the thread.

Am I right in thinking you can't book a hotel room without a credit card though? For the likes of that the credit card would be handy, but the debit card seems to be exactly what I am in need of. :)
Click to expand...
Although there is a risk of getting into debt with a CC, they do offer benefits over a debit card.
From what i understand, if you purchase an item worth over £100 (from anywhere online, not just the UK) you are covered if it doesn't turn up.

edit: link here http://www.consumerdirect.gov.uk/after_you_buy/money_and_credit/bought-on-credit/

It doesn't really apply here, but some CC companies (non of the student CC) offer a 30 or 90 day price promise on purchases, so if you buy something and then find it cheaper they will refund the difference.

Also, if someone commits fraud by using your CC without your permission, it's the CC companies responsibility to prove it was/wasn't you/your fault. with debit cards it's the other way around, you have to prove someone cloned your card etc. I'm not 100% sure of the above, but i remember reading it somewhere.

IMO as long as you just use a CC as am method of payment, instead of using it as a loan, you should be OK.
 
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XanderThal said:
actually i was very good with my money, but considering your going to make sweeping generalisations without having a bloody clue what your on about let me inform you otherwise.

Picture being 19, you have no family support, your working on the weekends, paying for a flat you've lived in for 2 years and commuting by bus 33 miles per day to uni. you have rent, electric, water, gas, transport, fee`s, communications(net, mob, phone) and uni equipment to pay for and a weekend job just isnt cutting it. and despite your best efforts during that first year, you finally just run out of money and you just cant work any more hours than you do or else your course work will suffer.

my only mistake was in using credit cards instead of going for a small low interest loan over 5 years.

try not to be so smart in future until you know the details of the subject at hand.
Click to expand...

Well, if you had those kind of problems, having a credit card or not is not going to stop you from going into debt. If anything, it would help, give you a little bit of money intrest free for a few months.
 
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