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Higher education

Talk to other parents whose children are preparing for university on our Higher Education forum.

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Original poster

Credit Card for student

13 replies

poppy1973 · 21/09/2022 18:19

We are having real problems getting a credit card for my eldest who is now off to Uni. Finding the old bank a pain and unable to get them to sort out a student account and credit card. Opened a new student account with Nationwide only to be told that their student loan and the monthly money we give them is not classed as an income and can not get a credit card. They want to buy their own books and use the laundry apps so need a credit card ideally. I did think about taking my name off our joint credit card and adding my student to the card instead and dropping the credit limit to really low. Has anyone does this at all ? or any other ideas. thanks

OP posts:

cocopops · 21/09/2022 20:29

I got my DD a card on my account as second cardholder. She asks me first before she uses it for things unless I’ve said, put it on the card!

JulesJules · 21/09/2022 20:36

We found the same with Nationwide, D1 has her savings there and converted her pocket money account into the student account. Then they told her they wouldn't give students credit cards. She tried applying for a card elsewhere with no luck, so I took out a card with my bank (Santander) and put her down as a second card holder.

Comefromaway · 21/09/2022 21:29

My son just uses his debit card. He can’t get a credit card yet for the same reasons.

Maggiethecat · 22/09/2022 13:53

Did look at this for Dd and it was a headache. She’ll just use her student account which has overdraft facility although hope she’ll not need to use it.

Wanted cc so she could build credit history and wonder if that would be the case if she was added to one of my cards as secondary card holder?

titchy · 22/09/2022 14:03

Why do they need a credit card for buying books and using the laundry app? A debit card is fine surely?

I'm not sure they need a credit card for credit history purposes either tbh. Being on the electoral roll, not using unauthorised overdraft and having one or two bills in their name are far more important.

To answer the question though, both mine have HSBC students accounts and were offered credit cards (which they declined).

NerrSnerr · 22/09/2022 14:10

Can't he just use a debit card?

TheBoxOfWhat · 22/09/2022 16:11

We looked into this. Ds has 2 bank accounts, the student account that his loan is paid into which has the direct debits for Netflix and Amazon prime. His accommodation costs come out of that on direct debit too. I top up his loan into that account to pay his rent. He also has a Monzo card for his day to day spending which I load with money every week.

They cannot get their own credit card easily. He too wanted to build a credit file and I believe that the direct debits and not using the overdraft help plus he has remained on the electoral roll here rather than having several addresses in as many years.

BuwchGochGota · 22/09/2022 16:17

DS was turned down for a credit card too, but was given an overdraft. I thought that a credit card might be useful for emergencies and for buying big items (better cover if things go wrong), but it wasn't essential.

I do wonder whether if they apply again in 12 months time, once they have a proven track record of managing a credit product (the overdraft), they might be successful.

BuwchGochGota · 22/09/2022 16:19

titchy · 22/09/2022 14:03

Why do they need a credit card for buying books and using the laundry app? A debit card is fine surely?

To answer the question though, both mine have HSBC students accounts and were offered credit cards (which they declined).

Mine was offered the credit card when he applied for the student current account, he ticked yes but was then turned down anyway.

Malbecfan · 22/09/2022 20:41

I don't get why you think they need a credit card. DD1 is 23 and going into y2 of a PhD. She doesn't have a credit card. DD2 is 21 and going into y3 of an integrated masters degree after an exchange abroad. She doesn't need a credit card.

Your DC needs to build up a credit history before applying. Are they on the electoral roll? We started with a cheap mobile phone contract as a good way of starting to build a credit history.

Lilacsunflowers · 23/09/2022 19:13

Why on earth would a student need a credit card?

Afterfire · 23/09/2022 19:22

They don’t need a credit card. Accident (well, debt!) waiting to happen!

My dd is in her second year of university, on full loans and grants as we are low income and she’s managed just fine with her student account which has an interest free overdraft for emergencies (Santander) and her debit card. She doesn’t have a credit card. She doesn’t have a job either but is now trying to get one; and we don’t give her much if any money at all. So it can be done!

MarchingFrogs · 24/09/2022 06:46

If a credit card was necessary for using university laundry apps, hardly anyone would be able to do any washing. I have a credit card, have barely used it in the past 10 years, in circumstances where it was most convenient for me personally to do so, not because the business I was dealing with required it. A business marketing itself to a cohort mainly unable to have a credit card, which insisted on one being used, would surely not survive very long?

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