Best Student Credit Card

[SouthChinaSea234]

DC in second year at university and has suggested getting a credit card to build up a credit rating. Has anyone else‘s DC done this? We have always kept to debit cards with other student DC, but this one is more financially aware and has earned more money than their siblings.

Can anyone recommend a good card? Thanks.

Maybe see if his student account offers one initially? The problem with applying for any other, is that he may not meet income criteria.

My DS got offered one when he went to uni, with his student HSBC account, £500 limit. He is v financially astute and careful, so used it only for train fares and the odd small purchase, primarily to help build his credit rating. (He has a large inheritance as a deposit so the chances are that he will look to buy a house fairly soon after starting first job, so a decent credit rating will be useful)

He has just finished a year in industry job and discussed wanting a higher credit limit for when he travels after finishing uni next year - he couldn’t increase his HSBC limit, so applied for a second card whilst he had a good income to offer (and has got one with no foreign exchange fees.)

DD is also going off travelling as well after a year working in retail. Again, her salary isn’t great, but she did get one, albeit only £1k limit, but enough for emergencies if she were to lose her debit card abroad (although she has since got a cash card for free when booking her flights).

There is a card checker on one of the money sites, it allows you to see what you are eligible for, which is what we did with DD.

Thanks @Sophiesdog11. We will take a look at that though it would involve him changing his current account. His existing bank does not offer a student credit card.

My DD has Santander student account as free 3yr student railcard. She banked with them for 5yrs but still failed the credit score. She took an Aqua Card which is shocking interest if you don't pay it in full, which her direct debit is set to do so 0% interest charged. She used it for small amounts so will reapply after 12 months. We pay her £50 a week into her Starling account which she uses for food.

Forgot to say, the Starling card can be used free of charge, for any currency withdrawal in any country. Even worked in the back of beyond in Kenya!

@le5ley2001Thank you. That is really helpful. We will take a look.

Barclays are forever offering DD credit cards. No idea why their computer seems to have taken a liking to her. She still has her old children's account with them but her stuent account is Santander. She is not interested.

She took a small risk and took on responsibility for all the flat bills last year, which will have helped her credit rating (and her admin and debt collecting skills!). She is also about to switch her phone from the cheap deal linked to our Virgin media account.

DSs bank were always offering him a credit card. I doubted whether he would get one with only a student loan as income but he eventually applied. They turned him down. He was worried this would adversely affect his credit rating so after that he waited until he was in full time work before successfully applying for a credit card.

We got both DC as named card holders on one of our accounts so they had a card they could use for expenses we were funding but of course that doesn't help build a credit score.

When DC get a job they build up a credit rating. It’s very difficult as a student because they spend little and have not had to manage large amounts. It’s all spent on known costs with little left over and they didn’t earn it in the first place (mostly). You don’t need a credit rating immediately you leave university, unless you want to borrow money immediately. If a DC does, ask parents for the money! It’s a lot cheaper.

Thanks everyone. We have had a closer look and decided to leave it for the moment. He did have the bright idea of applying for an American Express card and including DH and my income in the ‘ household income’ field but has now realised it does not quite work that way!

Interesting about Barclays. Their local branch told DS they do not offer CCs to students.

Barclays just send out marketing junk. They probably would not actually give the card. When he’s well off, OP, he can treat you all on his AmEx Centurion card!