Credit card for students

Why choose a student credit card with Zable? 

1. No annual fees

   Focus on building your credit without worrying about yearly card fees. Zable also doesn’t charge fees for using your card abroad.

2. Manage your credit card on the go

   You can do everything from changing your PIN to freezing your card in a matter of taps. Plus, Zable cards are available with Google Pay and Apple Pay.

3. Repay instantly

   You can repay any balances straight from your app by connecting your bank or debit card.

4. Track your spending

   View your balance and total spending in real time, and get instant transaction notifications.

5. Credit that grows with you

   We automatically review your account for credit limit increases and let you know if you’re eligible.

Am I eligible as a student? 

The basic eligibility criteria for a Zable credit card is:

1. You must be at least 18 years old

2. You must have a current account at a UK bank or building society

3. You must have an income of at least £800 per month (other than your student loan)

   But this doesn’t have to be a full time job - it can include things like benefits or part-time work.

4. You must have a credit account that has been open for at least 6 months

   A credit account includes things like an existing credit card, overdraft, or monthly mobile phone plan.

If in doubt, it’s free to check your eligibility and won’t affect your credit score. 

We also appreciate that students may have thin or no credit history, which is why at Zable, you can link your bank account during the application process. This enables us to assess your financial situation (income, spending habits etc.), as opposed to your credit score alone.

Pros and cons of getting a credit card as a student

Pros

1. Gives you protection on purchases

   Under section 75 of the consumer credit act, you’ll be covered if you buy a product or service between £100 and £30,000 and something goes wrong. For example, if an online order doesn’t turn up or arrives broken.

2. Can help you to build your credit score

   By making your credit card repayments on time, you can start to build your credit score. This can be particularly useful for students who may otherwise have a limited borrowing history.

3. Acts as a safety net

   It can be great for genuine emergencies, like a train home or a broken laptop, when your student loan hasn’t hit your account yet.

Cons

1. You may be charged interest

   If you don’t pay back your full balance each month, you’ll be charged interest.

2. You may be charged fees

   For example, if you don’t pay at least your minimum payment each month, or if you absent-mindedly withdraw cash from an ATM using your card. Zable doesn’t charge ‘overlimit’, annual, or overseas fees, but some card issuers do, so always check the fine print.

3. Potential to hurt your score

   A credit card is a real responsibility. It may be tempting to spend more money than you can afford to, but if you miss payments, make late payments, or consistently max out your credit card, you can hurt your credit score.

Alternatives to student credit cards

0% student overdrafts 

Many student current accounts come with interest-free overdrafts, which basically means you can spend more money than you have in your bank account without paying interest. Of course, these won’t help you to build your credit history.

A sim-only mobile contract

If building your credit score is your aim, a monthly mobile phone contract can be a good start. It’s often the very first thing on a student's credit report.

Registering to vote 

Likewise, registering to vote can help your credit score as it’s the best way for lenders to verify your identity.