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Low or no credit rating refused student account

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sammylou1987

PS. You can't have more than 1 student account, this may also be a reason why your being declined. As it will show on the credit search that you have a student account elsewhere!

Sam

Reply 21

flyboy03

Original post by misostars

Hey

I kind of had the same problem, being refused credit when I first turned 18.

The reasons for your bad credit rating could be a number of things:

1.) You've only just turned 18
2.) You've moved house recently
3.)Your loan with WONGA (as it is a high interest and if you haven't paid it back already)
4.) You're not on the electoral Roll properly yet- I registered in June and got a lettter saying I would not be on electoral roll till Sept.

I advise going on creditexpert website and gettying a 30 day free trial- just cancel within this period and you don't have to pay anything. It shows you your credit report and score and gives you advice on how to improve it!

I'm yet to sort out my overdraft with Natwest and will desperately need it for uni- eek! x

Thanks alot!

Reply 22

flyboy03

Original post by hwalker37

HSBC accepted me with no credit rating. Got a £500 credit card and a £1000 overdraft, which I went into the day I set up my account! If you're sensible with your money I'd definitely recommend a credit card, you'll be able to leave Uni with a decent credit rating. Use it to pay for things that you know you have the money for, then set up a direct debit to pay it back in full each month.

Thanks, this is my plan B because I know I'm sensible enough for one. Also I just need something to help build up my credit score!

(edited 12 years ago)

Reply 23

flyboy03

Original post by Teaddict

You are joking about the Wonga thing right? Payday loans are horrible things. NEVER TAKE ONE OUT FOR ANY REASON.

Nope, I'm very sensible, as soon as the maintenance grant and student loan arrives, Wonga is paid off by direct debit. I used Wonga because I lost my job at that time and had to pay rent. In this case, all I need is a £200 short term loan before Uni and I think the best solution is a student credit card with my current student account.

You can rightly assume relatives and friends are unable to supply the funds

(edited 12 years ago)

Reply 24

zemcvey1

no ad bad credit rating, think they gave me my student account at santander because ive banked with them since i was eight, and im now twenty six! lol.. Do try them tho its worth a shot :biggrin:

Reply 25

flyboy03

Original post by zemcvey1

no ad bad credit rating, think they gave me my student account at santander because ive banked with them since i was eight, and im now twenty six! lol.. Do try them tho its worth a shot :biggrin:

lol ended up with sticking to HSBC because my mum borrowed me the money (like she should have) x