I've been looking to try and improve my credit score, cause it's not great since I don't have much credit history. Problem is, all the advice seems to say that getting a credit card is the best way, which can be pretty difficult for a student. I had a look at some student credit cards, which are supposed to be targeted at us, yet they all say you need at least £3000 income. I'm on a full time course, so I don't actually have a part time job, and all of my income is from my loan and bursary. This puts me well above the £3000 income, but it doesn't count when applying, so it looks like I have no money to repay them back. I'm not planning to use it to make crazy purchases, just to pay some bills and pay it back well in time before the high interest starts. I understand they can't take my word on this though.
So question is, has anyone been able to get a credit card with no income? Or does anyone have any other good ways to improve credit score?
Student Credit Cards Watch
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- 23-06-2016 19:36
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- 23-06-2016 19:41
I didn't manage to get a credit card at uni, I got a catalogue account through very in my second year and stayed at the same address for a year which might have helped. I have a horrendous rate credit card now having left uni three months ago and it's very slowly putting my credit rating up
- 23-06-2016 21:14
Why do you need a good credit rating? Generally, the only reason you need a credit history is if you want to borrow money commercially. When you graduate, this may be a bit of a problem (I remember being refused credit to buy a sofa) but if you are working and earning, getting a credit card to buy the odd thing here and there and then fully paying it off will get you up to speed in no time. It is also worth noting that moving around as a student can destroy your credit score. Once settling down though, this soon gets sorted out.