Student Credit Card

JIM_BOB7813 said:
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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I agree with this too. look at why you want it, is it because you need extra income as things are tight and you dont want to keep asking your parents or is it just for ease of payment for items for which you have the money in your account.

if things are tight, go for the loan option. if you can be absolutely 100% certain you will only ever use it for paying the odd bill and booking the odd room then i guess a CC could be an option. but my personal preference is credit cards are only for those who can afford the luxury of their use.
 
natwest give me a credit card as an 18yr old when i opened a student account, without ever being with the bank before, and a 1250 overdraft, with a debit card. seems stupid.

Really nationwide didnt give you a debit card? Iv been with them since i was 17, just open a current account with them, it comes with a DEBIT card, which is what you want really. So money comes straight out your account. Cant see why theyd demand you had a regular income, i never. Its a case of only being able to spend what you possess.
 
Couldn't you lie about a regular income?

I'd advise a decent Graduate account with Barclays :)
 
maybe hes got money in the bank from inheritance, birthdays, xmas? gets money off his parents every so often as a one off that he wishes to spend online, privately?
 
peetee said:
maybe hes got money in the bank from inheritance, birthdays, xmas? gets money off his parents every so often as a one off that he wishes to spend online, privately?
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Then he needs a debit card (but he knows this as that is what he said earlier in the thread)
 
I got a Student Barclaycard with £450 credit limit when I first started university and had a Classic Lloyds TSB bank account (with VISA Electron card). I didn't see the need to get a student account as I was never intending to use an overdraft. After about a year, Lloyds TSB offered me a VISA credit card with £1000 credit limit. I was very strict and only spent what I knew I had and could pay back in full. I had a few problems with (r)etailers and the credit card companies sorted out the problem transactions for me. I really like using credit cards. :)

Have you thought about a cashplus card (http://www.mycashplus.co.uk/)? It's a preload card backed by Mastercard and is accepted everywhere Mastercard is accepted. It's an easy option to be able to make purchases online etc.
 
jon86 said:
Have you thought about a cashplus card (http://www.mycashplus.co.uk/)? It's a preload card backed by Mastercard and is accepted everywhere Mastercard is accepted. It's an easy option to be able to make purchases online etc.
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Those pre-pay cards are a good idea, but too expensive IMO. Just looked at the T&C
plan1:
  • £9.95 up front for the card
    £4.95 per month
    no charges on transactions

plan2:

  • £9.95 up front for the card
    No monthly fee
    £1 per transactions
    If you don't use it for 120 day, £4.95 fee

All accounts have a "payment processing fee" whatever that is,
£1.95

If you ever want to cancel it and get your money refunded, £10.


I guess if you don't plan on using it much, or if you can't get accepted for a credit card, it could be worth it.
 
JIM_BOB7813 said:
I believe having credit and paying it off (on time) increases your credit rating, which in later life will improve your chances of getting loans/lower interest rates on loans.
Someone correct me if that's wrong though :p
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How can you pay off your credit card if you have no money?

Unless you mean your parents money?
 
if his parents give him money it becomes his.
the OP has never once stated he has no money.

Apart from that, its besides the point and irrelevant to the OP.
 
peetee said:
if his parents give him money it becomes his.
the OP has never once stated he has no money.

Apart from that, its besides the point and irrelevant to the OP.
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Not irrelevant. If he isn't earning his own money then he doesn't need a credit card.

Also it is not a parents job to fund their kids lifestyles. Once you are out of education you get a job and pay your way. If you want to go to Uni sure parents should help out but the child should get a job and pay as much as possible. Welcome to the real world.
 
... another pointless off topic post.

How do you know one of his family hasnt died and left him thousands upon thousands.
Who cares how he got the money, its his to spend, hes just asking us lot for advice on howto get a credit card as he doesnt like using parents ones.
Welcome to the real world, managing money, wherever you got it is growing up, as is having your own debit/credit card.
Some people have well off parents who want to pay for their kids educations, and do like to keep spending money on them during the early stage of adulthood, after all the chances are peoples parents will leave them the money anyway in their wills once they die.

My parents pay me completely through uni, and i live away from home etc, theyre well off and budgeted to send me and my siblings all to uni at the same time, though the other 2 have careers and chose not to go. Real world for some of us is infact gold-tinted.
Stop your trolling if you're not going to be remotely constructive or helpful to the job.

Best advice so far OP : visit another bank!
 
peetee said:
... another pointless off topic post.

My parents pay me completely through uni, and i live away from home etc, theyre well off and budgeted to send me and my siblings all to uni at the same time, though the other 2 have careers and chose not to go. Real world for some of us is infact gold-tinted.
Stop your trolling if you're not going to be remotely constructive or helpful to the job.
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I am not trolling and I am being constructive. Unless you earn your own money you don't need a credit card. If they have either died and gave you large amounts of money or are alive and have done the same then invest it, get an account with a debit card and start learning good financial skills from day one.

Me and the wife happen to be "well off" and if our son wanted to go to Uni then we would help him out but to pay all his way is to give him an unrealistic view of the real world.

Your parents pay your way so enjoy it but for one moment don't think it is even close to the real world for most people.

Real world for some of us is infact gold-tinted.
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Pull the silver spoon out of your ass, will you?
 
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digisatman said:
you just suck/sucked at using money responsibly
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Agreed. It's like blaming the knife because you cut your finger. Credit cards are an excellent tool when used with self control, if you don't use them responsibly then its nobody else's fault but your own.

As for the OP, I would move to a more student friendly bank. Nationwide are a building society and do not offer student accounts or credit cards and you would be better off with a student account with one of the top 5.
 
LordSplodge said:
If he isn't earning his own money then he doesn't need a credit card.
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This whole argument of if the OP needs a credit card or not, is irrelevant, it's his decision to make.
I don't care where his money comes from, it's none of my business.
As i said before, credit cards offer some advantages over debit cards, yes he probably doesn't *need* credit but that is not the only thing a credit card offers. You can use a credit card as you would a debit card by paying it off in full each month. It gives you added protection, and you can use it abroad (online/abroad).
 
I'm 20 and have a mastercard. I don't really use it though, I only got it for taking around europe with me in the summer as a backup card. I use it now and then when I need to online (instead of paying charges for debit card etc) but as soon as payment is processed, I log onto digital banking and pay the balance. effectively making it a second debit card. I don't think I'll ever buy something that I don't have the money for. Since I'm a student my limit is only £500
 
digisatman said:
you just suck/sucked at using money responsibly
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The majority of students do. It's quite normal.

I'd also rate switching to a bank that will give you a Maestro card. You'll be able to use it everywhere like a CC, safe in the knowledge that the money you are spending is your own and not the banks.

If you had a regular income, then maybe a CC would be a good idea. As you don't, I'd honestly be very wary about it.
 
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