I have a number of credit cards, but this is the only one I use. I mention this so you don't think I've stuck with HSBC simply because they're the only people who will offer me credit. They're not, but I still prefer them to their competitors. HSBC are my main bank and so it seemed sensible to stick with them. That wouldn’t be enough to make me stay with them if their service wasn’t up to scratch though, but luckily it almost always has been.

Address Tip: If you’ve just moved into halls, or anywhere away from home, don’t use that address – use your parents’ or wherever you were living up until now. You are more likely to be accepted this way (one of the questions asks “How long have you lived at your current address?” and the unwritten thinking that goes along with this is “the longer the better”. You can change your address with the bank once you have been accepted, so your statements are sent to your term time address, if you so require).

Almost all students are given the card with an initial 500 GBP credit limit. This is the maximum, and a few students will get less. Not much, but sensible given the spending habits of some of my fellow university goers. This is, however, negotiable after a while. I went shopping in New York for a week and remembered 2 days before that the hotel costs would be coming off my card, leaving me not quite as much as I would have liked for my Barnes and Noble expeditions. I gave them a quick call and, after bringing up my credit details and seeing that for the previous year I’d used my card a lot, but also paid it off in full each month, they happily agreed to increase my limit, giving me pretty much a limitless choice of how much I’d like, silly people. This doesn’t apply to everyone though, and I’ve had friends I know ask for, and be denied, increases in credit limits, but if you use your card sensibly, it shouldn’t be a problem.

The HSBC student credit card is not one of those “create the best card for you” set ups. You cannot chose different interest rates or higher / lower fees or so on. Everyone gets the same card, with the same conditions.

* Up to 56 days interest free credit depending on when you make your purchases (bills are produced on the same date each month, so if I buy something the day before, I get fewer days interest free).

* Internet, TV, phone and in branch banking, all free of charge. HSBC have branches on campus or near every UK University. There are 3 within easy walking distance of my uni. The online service is especially good compare to others I’ve used. It’s secure and simple to use, and you can pay off your account as early as you like in a matter of minutes. You can also call up your latest transactions, and the first page when you log on lists your credit limit and current balance.

* Typical credit card style insurance against fraudulent use online or when buying expensive goods. How good the claims process with this is, though, I don’t know, as I’ve never had to use it.

* Cash advances: 1.5% of the amount taken at that time (minimum 1.50 GBP) – meaning as usual it is better to take a large amount that several small ones if you have to take any at all.

I only once had a problem with my card. I was working in Spain and my wallet was stolen, so I had to cancel it, and my debit card. After spending about 10 Euros on a payphone to their international lost and stolen line, I was assured that new cards would be ready for collection in a week, and I thought all was fine. That month, though, I got interest added to my statement because the DD had not been set up in time to take the payment. When your debit crad is stolen, your bank account number stays the same, but if it's a credit card, they change the number on it, and thus the number of your credit card "account". New accounts, therefore, need new DDs. I complained and they apologized, saying they would sort it out. And they did, sort of. The next month all my balance was cleared as usual, but that 60p of interest was never removed. I never got round to making a huge fuss (3 months in Spain, 5 days in the UK and now a year in Germany didn’t really give me the time) and it is only a small amount, but they won’t get away with it should it happen again.