from Commonwealth Bank for students only
*no annual fee
*if you apply by 12 April and are approved before 30 April you'll receive $50 cash back ( only for new applications)
*55 days interest free on purchases
No Annual Fees Plus $50 Cash Back on a Student Credit Card Commonwealth Bank
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Will I be accepted if I just turned 18, barely worked more than 3 months at McDonalds and is currently studying at university?
Is it a good idea to apply for one? Credit history: I know nothing about this.
Gonna try and apply for the 28 Degrees card first.
As long as you are a fulltime student you're fine. Just show the bank your student ID and your class enrolments for the year and they will mark you as student.
I see.
I was just declined on 28 Degrees (lol).
Should I get this to use for online shopping or stick with my debit cards? Can you link the card to withdraw the amount owed from an account automatically or do you need to manually pay it every month?
Headline story on Today Tonight (Seven Network): Thousands of Australians destroy their credit worthiness by applying for, and subsequently declining (by choice or by the banks), credit cards and housing loans. Each and every "credit file query" decreases your credit worthiness and stays on file for 5 years.
Final link is not up yet. Here is a temporary one to the video: http://au.news.yahoo.com/today-tonight/video/watch/1588c822-…
good to see they are concentrating on investigating the important things in life
"Caught out on the job. A Brisbane office worker was caught on camera doing something he really should only have been doing in the privacy of his own home."
what a second-rate trashy program. no wonder i don't watch it.
Good to build credit rating. If you can pay the bills withing the 55 days, then theres no harm in using one… youll get like 2 cents interest on your bank account aswell
what credit rating? not in australia at least. your credit card will be a liability when you want a loan
Correct, negative only reporting in credit rating reports for Australia. Which means it does not matter if you pay your bill on time 10 years in a row because the only one that will appear in your report is the time that you don't pay on time.
I think Yanoflies is asking whether they're likely to approve a credit card for someone like that.
T&C's of this card state "Applications for finance are subject to the Bank’s normal credit approval".
To me that reads 'better be well off student to apply'
I applied in the past with $0 income and got accepted.
I got rejected too for 28 degrees card. Family member with a income signed up and included myself as a secondary card holder. :)
How can you even expect to get the card with no income?
hook them early for a life-time of debt :)
I considered signing up for this card when I first started at uni and the bank said I needed to be employed, which made absolutely no sense since the card was marketed as being for full time students. Not sure if they're still saying the same thing these days, but worth checking before applying since you don't want it to go on your credit history if you get denied!
Hmm…usually banks are willing to give students with very low incomes a credit card with a low limit ($300 or so) - even if you are just on Youth Allowance. Maybe CBA requires that you are employed as well.
Applied for one. Don't intend to use it much though. Mainly applying for the cashback.
heh yes i think i might too. Seems like a good idea?
edit: i've applied in the past and got rejected even with decent savings and employment for more than a year.
In doing another application will is still be eligible "new Student credit card applications"
Very tempted to do the same, but wary of being rejected and having it put against my "credit file". And also wondering how the cashback is actually given.
I can see our big four bank try to put another nail in the coffin of the younger generation.
Commonpoorness Bank
conman welts bonk is an evil twin of a great government initiative till it sold its soul to the devil
2. spineless politicians slavishly pretend that free enterprise without accountability will result in the best benefit for consumers [why not call them citizens?]
3. while governments and biz conspire to shortchange citizens, and enrich themselves, citizens will lose always,
4. laws set by politicians in bed with biz is bad business for citizens.
5. spiness lack of regulation by government shows up the fakery of laws without teeth.You write in a funny way.
I'm a student and just got approved for a 10k limit. What…?
I signed up for a similar offer last time for $50 cashback and didn't get the cashback after being told it didn't register on their system (even though I called shortly after I signed up and confirmed that it did). It's not worth the $50 to sign up for this CC anyway, If I were you I'd rather go for the 28 degrees or one of these: http://www.ozbargain.com.au/wiki/credit_card_rewards_compari…
For those wondering how they would know you are a student:
"Students will pay no annual fee while studying if they hold an EveryDay account with Student options."