These are the ones I hear most people use, so I am considering getting one of them. I tried looking up info on both of them and tbh I'm getting confused by all the jargon so if anyone could break things down that would be really helpful.
(Also if there are any other good options I'd be grateful to hear about those too!)
How do you know whether you'd qualify? Do they all have different ones or if you don't qualify for one would it be the same for the rest?
They normally have it you receive x amount in the first year and it goes higher and higher each year. You'll receive the minimum overdraft for the first year and probably the max in your last year.
the best way to do it would be to get a santander account first. once you have your railcard, cancel the account and then open an account with HSBC. This way you get both the railcard and amazon voucher.
the best way to do it would be to get a santander account first. once you have your railcard, cancel the account and then open an account with HSBC. This way you get both the railcard and amazon voucher.
Don't you need to put in X amount ea month for the railcard to activatw
the best way to do it would be to get a santander account first. once you have your railcard, cancel the account and then open an account with HSBC. This way you get both the railcard and amazon voucher.
Would they not be able to know that I did that though? Like is that a valid loophole that is okay or would it be looked down on as 'cheating' and screw me over later?
Would they not be able to know that I did that though? Like is that a valid loophole that is okay or would it be looked down on as 'cheating' and screw me over later?
It's only £90. £30 difference with HSBC so just get the larger overdraft.
the best way to do it would be to get a santander account first. once you have your railcard, cancel the account and then open an account with HSBC. This way you get both the railcard and amazon voucher.
Don't do this. You are only allowed to have one student account, and if they find out you have two, they may shut them both! Plus they will most likely take away the privileges when they do. Plus every time you apply for credit, your credit score takes a major hit, of between 30 and 60 points (experian). Best to apply for only one or two every six months or so.
Plus i have a credit card with marbles, who are owned by new day, who also owns santander, so i think it is more likely you will be accepted for the santander account, if that is any help? *Mods, this isn't advertising, i am trying to help someone out in need*!!!!
Plus every time you apply for credit, your credit score takes a major hit, of between 30 and 60 points (experian). Best to apply for only one or two every six months or so.
That's not accurate, your credit score is pretty much entirely based upon how much you owe and how well you pay back what you've owed, with most of the focus on the latter. Merely applying for a credit line isn't going to take off 30-60 points, that's a massive amount. Student overdrafts also rarely have an effect on your credit score.
Both have good interest free overdrafts but you probably won't qualify for the maximum amount.
what is the type of bank account at hsbc? Im from France and have a french hsbc account and in two week when I'll move to Scotland for uni and open a hsbc account there. Do i have to specify to them that Iwant the voucher?
That's not accurate, your credit score is pretty much entirely based upon how much you owe and how well you pay back what you've owed, with most of the focus on the latter. Merely applying for a credit line isn't going to take off 30-60 points, that's a massive amount. Student overdrafts also rarely have an effect on your credit score.
Do you want to bet? Each bank has a different set of criteria for lending, and the three main agencies Experian and equifax and callcredit also use the same metadata, to create their own scores. It is a fallacy to think that there is only a single score. And you are right, that if you owe over 25% of your total limit, it most likely will have a detrimental affect on your credit rating. But things such as applying for credit, being registered to vote and actually voting, as well as the credit lines of your spouses, do have an impact. It is true that i can't prove this information, as the banks are very good at keeping these cards close to their chest. But the fact that most dynamic credit cards will allow you to ask for an increase to that credit line every 6/8 months, which is when the (credit) applications expire on experian, would seem to be a pretty reliable indicator wouldn't it?
That's not accurate, your credit score is pretty much entirely based upon how much you owe and how well you pay back what you've owed, with most of the focus on the latter. Merely applying for a credit line isn't going to take off 30-60 points, that's a massive amount. Student overdrafts also rarely have an effect on your credit score.
Every time you apply for credit you take a hit on your score. This is why you space out several applications over a long time. This is because it is a measure of risk worthiness and desperate ess for credit.
Every time you apply for credit you take a hit on your score. This is why you space out several applications over a long time. This is because it is a measure of risk worthiness and desperate ess for credit.
I can confirm this is true after tracking mine for several years.
Companies don't like it if you're constantly looking around for ways to borrow money.