Student Accounts With Bad Credit Watch

This discussion is closed.
Daniellex
Badges: 0
Rep:
?
#1
Report Thread starter 7 years ago
#1
Got rejected for a student account with HSBC because of bad credit rating, which is due to my address because my mum's rating is terrible, whereas I've only been 18 for a month and have no credit whatsoever. They told me to call one of two numbers, (neither of which actually existed when I tried to call) in order to check on the records, but I'm not going to pay in order to clarify my clear record only to be told I still can't have an account because of my mother's debts.

Anyone know of any other banks to try which will go on my record alone rather than an address?

I've never had a debit card, but always pay things on time with my cashcard. I don't really understand why I should be punished for the debt of the people I live with.
0
GooglyEyedMonster
Badges: 13
Rep:
?
#2
Report 7 years ago
#2
Barclays or natwest I would say. HSBC rejected me for more than 200. Natwest put me straight at 1000.

It's worth shopping around on the account comparison sites. I got mine 3 years ago so things will probably have changed a little! But every UK student is entitled to a student account as far as I know xx


This was posted from The Student Room's iPhone/iPad App
0
jgibson18
Badges: 0
Rep:
?
#3
Report 7 years ago
#3
(Original post by Daniellex)
Got rejected for a student account with HSBC because of bad credit rating, which is due to my address because my mum's rating is terrible, whereas I've only been 18 for a month and have no credit whatsoever. They told me to call one of two numbers, (neither of which actually existed when I tried to call) in order to check on the records, but I'm not going to pay in order to clarify my clear record only to be told I still can't have an account because of my mother's debts.

Anyone know of any other banks to try which will go on my record alone rather than an address?

I've never had a debit card, but always pay things on time with my cashcard. I don't really understand why I should be punished for the debt of the people I live with.
I have a very very poor credit rating! I went to Barclays on Thursday (23/08) to open a student account. It was a very smooth process and they gave me a £200 overdraft no questions asked. This overdraft will then be increased too £1000 when my first payment of my student loan/grant goes in.

I asked if my credit rating would be a problem when this increase happens and they said no, because its a student account, a computer doesn't credit check us. Its up to the individual bank manager, if they think you can handle it they will give it too you. They decided on a number of factors such as the amount of loan/grant/scholarship you get

Hope this has helped you a bit I know I was in such a state worrying about this

One hint I would give is too go into branch though! It's much easier that way
1
Pitt1988
Badges: 15
Rep:
?
#4
Report 7 years ago
#4
I'm in a similar situation and have a very, very bad credit rating (I'm 24 and just starting uni so have had a lot of time to **** up).

I applied for the coop account, got rejected. Just recently tried for Santander as well, which I'm fairly sure I will also get rejected for. I'm aware that the more you apply for, the worse your credit score becomes, so if they don't accept I'm kind of stuck.

I have a regular ultimate reward account with halifax and just rang them up explaining that I start university in just over two weeks and would like to get a student account. The bank manager refused me because I'm currently on job seekers.

I'm starting to get really worried about this now. It's not that I want an overdraft to go wild and spend money, I want it is a buffer in case I'm a little short (I do intend to get a part time job at uni). Got absolutely no idea where to turn now. The only thing I can think of, to start rebuilding my score, is to get a credit card to pay my phone bill from, then transfer the money directly from my current account. This, however, doesn't change my immediate predicament.

Feeling a bit lost :\
0
Rakas21
Badges: 21
Rep:
?
#5
Report 7 years ago
#5
(Original post by Pitt1988)
I'm in a similar situation and have a very, very bad credit rating (I'm 24 and just starting uni so have had a lot of time to **** up).

I applied for the coop account, got rejected. Just recently tried for Santander as well, which I'm fairly sure I will also get rejected for. I'm aware that the more you apply for, the worse your credit score becomes, so if they don't accept I'm kind of stuck.

I have a regular ultimate reward account with halifax and just rang them up explaining that I start university in just over two weeks and would like to get a student account. The bank manager refused me because I'm currently on job seekers.

I'm starting to get really worried about this now. It's not that I want an overdraft to go wild and spend money, I want it is a buffer in case I'm a little short (I do intend to get a part time job at uni). Got absolutely no idea where to turn now. The only thing I can think of, to start rebuilding my score, is to get a credit card to pay my phone bill from, then transfer the money directly from my current account. This, however, doesn't change my immediate predicament.

Feeling a bit lost :\
If you have remained in credit with Halifax i would take the Ucas letter to the branch and get one.

I am 23 and in the same situation, CCJ and £3k of debt unpaid and got rejected from Co-op and Santandear however my current account with Lloyds was upgraded so i have a £500 overdraft although i have now decided not to go any further and save.

To be honest paying off credit-card ect.. only raises your credit rating a little unless you have multiple cards being registered as payed. The best thing is to take a look at outstanding debts on your file and get them registered as settled. You credit rating will be rubbish if your debt to salary ratio is high.
0
Milosox
Badges: 0
Rep:
?
#6
Report 4 years ago
#6
(Original post by Daniellex)
Got rejected for a student account with HSBC because of bad credit rating, which is due to my address because my mum's rating is terrible, whereas I've only been 18 for a month and have no credit whatsoever. They told me to call one of two numbers, (neither of which actually existed when I tried to call) in order to check on the records, but I'm not going to pay in order to clarify my clear record only to be told I still can't have an account because of my mother's debts.

Anyone know of any other banks to try which will go on my record alone rather than an address?

I've never had a debit card, but always pay things on time with my cashcard. I don't really understand why I should be punished for the debt of the people I live with.
Bad credit is nothing to do with your address what so ever it's done on your name so the reason you were rejected is nothing to do with your mum's debts. The reason they won't accept you is because you've never had credit before, having no credit is worse than having bad credit rating. Try getting a phone contract and pay all the bills on time this will make your credit rating good and then the bank can reconsider after 3 months.
0
ronmack
Badges: 12
Rep:
?
#7
Report 4 years ago
#7
Try with other banks
0
Livelovelife123
Badges: 3
Rep:
?
#8
Report 2 years ago
#8
I was convince by an ex to do fraud on my account ... I wasn't aware of what was going on but I did it cause I was pressured and stupid. Long story short Santander closed my account and I've been blacklisted from banks I currently have a metro cash card . I checked my credit score on Experian and is 743 which is fair . I am going uni next year and I want to apply for a lloyds student account . I'm scared I don't know what to di
0
Reality Check
Badges: 22
Rep:
?
#9
Report 2 years ago
#9
(Original post by Livelovelife123)
I was convince by an ex to do fraud on my account ... I wasn't aware of what was going on but I did it cause I was pressured and stupid. Long story short Santander closed my account and I've been blacklisted from banks I currently have a metro cash card . I checked my credit score on Experian and is 743 which is fair . I am going uni next year and I want to apply for a lloyds student account . I'm scared I don't know what to di
Strong bump.

The Experian credit score is a separate matter from having an account closed due to fraud. You will find it pretty much impossible to open a student account if you have a CIFAS warning against your name and it is you who has committed a fraud.
0
botev1912
Badges: 1
Rep:
?
#10
Report 2 years ago
#10
(Original post by Livelovelife123)
I was convince by an ex to do fraud on my account ... I wasn't aware of what was going on but I did it cause I was pressured and stupid. Long story short Santander closed my account and I've been blacklisted from banks I currently have a metro cash card . I checked my credit score on Experian and is 743 which is fair . I am going uni next year and I want to apply for a lloyds student account . I'm scared I don't know what to di
im in the same situation...i have a prepaid card but i dont think it is allowed for uni
0
Zoe321
Badges: 0
Rep:
?
#11
Report 2 years ago
#11
Same, is there anyway we could work around this. It upsets me everyday literally
0
Basiil17
Badges: 20
Rep:
?
#12
Report 2 years ago
#12
(Original post by Zoe321)
Same, is there anyway we could work around this. It upsets me everyday literally
Don't bump old threads, I will now report the thread to the Community Team for locking, as I don't have powers here.
0
Tiger Rag
Badges: 22
Rep:
?
#13
Report 2 years ago
#13
(Original post by Zoe321)
Same, is there anyway we could work around this. It upsets me everyday literally
You may get more answers if you start your own thread.
0
X
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

How has the start of this academic year been for you?

Loving it - gonna be a great year (109)
18.02%
It's just nice to be back! (163)
26.94%
Not great so far... (216)
35.7%
I want to drop out! (117)
19.34%

Watched Threads

View All