Any one here with a credit card?

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Tednol
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#1
Report Thread starter 16 years ago
#1
I got my first credit card a few days ago. Can't believe my bank (Royal Bank) actually accepted my application, seeing as I have NEVER had a regular income.

£500 limit, all good to me!

Anyone else been given one?!
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Unregistered
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#2
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This is exactly how students end up in debt, Banks love students they know that most are not responsible at all when it comes to money.
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Tednol
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Report Thread starter 16 years ago
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(Original post by Unregistered)
This is exactly how students end up in debt, Banks love students they know that most are not responsible at all when it comes to money.
Lets not tarnish ALL students with the same brush. More than a few are fully in control of their finances. The benefits of a credit card are easy to see... 56 days of interest free credit being the main one.

If you know how to use it, there is not a problem.
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Lost Soul
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#4
Report 16 years ago
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Well if you apply to First Direct for a bank account and a credit card, AND you have had an account with HSBC before then you are likely to get a £1000 limit on your credit card, (I did and it's my first one)

Lost Soul
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before you realise it you may end up in debt - be careful with these offers from banks, they make loads of money out of students

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rowei
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#6
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Get yourself a debit card instead!
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The Dude
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I have never had a credit card and don't think I will get one in the future either. They may seem good, because it is nice and easy instant cash but remember you have to pay off the credit card bill at some stage. I personally think they are too easy and tempting to use which would lead to getting into debt easily. I have a switch card and cheque book and thats fine with me.
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Expression
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I'll be going with the HSBC for my student banking, between them and the Natwest they are very very similar regarding Overdraft Limits etc, which I hope, given that part of my course is Financial Management and Accountancy (!), I won't be requiring, but hey it's always there when needed.

And so I can just base my decision on freebies -

Natwest - Free home starter kit (mini kettle, mini iron, toaster etc) or £50 cash.

HSBC - 5 Year Student Railcard (worth £90), or £50 cash.

That railcard has the potential of saving me some money, which will of course be in short supply anyway, and so thats what swayed me.
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