American Express for Uni Student?

Haxxa on 28/01/2018 - 17:44

Hi Folks,

I was thinking of signing up for an American Express Credit Card to take advantage of the Amex deals that populate the front page.

I am currently studying Engineering Full Time at Uni (20 year old Male) and only work casually, so my base income doesn't meet eligibility of most Amex Cards. Does anyone know if American Express Essential would be obtainable or some other Bank based alternative?

I currently have a Commonwealth Bank Card and Citibank for International Purchases/Travel.

6 Monthes ago I applied through Engineers Australia for a high-tier card but I was denied. I have no debt or any credit cards and I have ~20,000$ in Savings.

Thanks for the advise.

Financial

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Comments

  • CLoSeR on 28/01/2018 - 17:55

    Term's and conditions for the Essential Card says you need to earn $40,000 per annum, Qantas Discovery card is $35,000.

    The problem isn't your savings but your ability to pay, you don't earn enough to qualify.

    A creditcard isn't something you want if you can't pay the balance in full monthly.

    • Haxxa on 28/01/2018 - 18:01
      +1

      Yeah, I thought this would be the case. Pretty much the only reason I want the Card is for the Amex Deals. I wouldn't use it otherwise and certainly wouldn't buy anything on credit.

      If a Amex Debit Card Existed I would certainly choose it, but then I doubt the deals offered could exist.

      • CLoSeR on 28/01/2018 - 18:03

        Understand why as Amex is good, highest earn rates and great deals.

  • Ughhh on 28/01/2018 - 19:02

    You need stable income. If your bank statements show stable regular casual income for at least 3 months, you might have a chance. You'l have the highest chance with your own bank.

    • Haxxa on 28/01/2018 - 19:09

      Hmmm…

      I wonder if its worth the risk of a poorer credit rating. At the end of the day the deals are nice but offset that with the possibility of working several years to improve credit score, it doesn't look as appealing.

      My income is far from stable too, some weeks I will be working every day, to other weeks not at all.

      • Ughhh on 28/01/2018 - 19:11
        +1

        Tbh, I wouldn't bother then. Perhaps you can ask your parents to get an additional card under their name?

      • May4th on 28/01/2018 - 19:33

        no reason why it would negatively affect your credit rating as long as you don't default on any repayments. the enquiry will only affect your score for a limited period so several years is definitely overstated.

  • smuggler on 28/01/2018 - 21:50
    -5

    You don't need one. Just wait until you get a job. AMEX offers aren't as great as you think. Most of them are garbage.

  • lovetravellinginbiz on 28/01/2018 - 22:08
    -1

    Platinum edge. I got it while at uni, working casually on the weekends. Only applied for a $500 credit limit. Pm me if you want more details.

  • [Deactivated] on 28/01/2018 - 23:23
    -3

    get a job

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