Companies with webcards that are student friendly?


S

sk8terg1rl

I tried applying for Cahoot's webcard but they didn't want to take me
on (despite going through the appeals procedure) because, not
surprisingly, my income band is <£15k p.a. as a student.

Can anyone recommend a company that will offer me a webcard as a
student? It seems Cahoot is the only bank doing so.

At the moment I'm just regularly reporting my credit card lost every so
often. My bank hasn't complained and I've never been the victim of card
fraud, although this article below seems to suggest that the law of
averages is working against me.

http://uk.news.yahoo.com/21112006/356/britain-branded-card-fraud-capital.html
 
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M

mogga

I tried applying for Cahoot's webcard but they didn't want to take me
on (despite going through the appeals procedure) because, not
surprisingly, my income band is <£15k p.a. as a student.

What's a webcard?
And why don't you want a card from the nka you have your main account
with?
 
S

sk8terg1rl

mogga said:
What's a webcard?
AIUI, a webcard is a card that can only be used once with a
pre-determined upper limit set by you. So it effectively is a new card
per transaction. So if a merchant is less than sterling or your card
details fall into disreputable hands somehow, you have little to worry
about.
And why don't you want a card from the nka you have your main account
with?
The bank my main account is with does not offer webcards. In fact I
almost never put my Debit card in my purse as it would allow criminals
direct access to my bank account.

What is "nka"? I'm getting apparently unrelated acronym definitions
from online dictionaries.
 
R

Ronald Raygun

sk8terg1rl said:
I tried applying for Cahoot's webcard but they didn't want to take me
on (despite going through the appeals procedure) because, not
surprisingly, my income band is <£15k p.a. as a student.

Can anyone recommend a company that will offer me a webcard as a
student? It seems Cahoot is the only bank doing so.

At the moment I'm just regularly reporting my credit card lost every so
often.
Why on Earth are you doing that when in fact it isn't?
Just because you use it for web-based purchases doesn't necessarily
mean the details will be used fraudulently, and even if they are
your money is safe.

In any case, if it *were* to be used fraudulently, chances are it
would happen as soon as possible after the details had fallen into
the wrong hands, so depending on what exactly you mean by "every so
often", it might not be quick enough.

Consider also that the risk of card fraud from your new cards being
intercepted in the post before they reach you may well be greater
than that of card details going astray on line.
 
S

Swampy Bogtrotter

sk8terg1rl said:
AIUI, a webcard is a card that can only be used once with a
pre-determined upper limit set by you. So it effectively is a new card
per transaction. So if a merchant is less than sterling or your card
details fall into disreputable hands somehow, you have little to worry
about.


The bank my main account is with does not offer webcards. In fact I
almost never put my Debit card in my purse as it would allow criminals
direct access to my bank account.
Try these guys
http://www.mycashplus.co.uk
 
S

Swampy Bogtrotter

Ronald said:
Why on Earth are you doing that when in fact it isn't?
Just because you use it for web-based purchases doesn't necessarily
mean the details will be used fraudulently, and even if they are
your money is safe.
In fact, your card is more at risk from being used fraudulently if you use
it in certain pubs, restaurants, and shops with unscrupulous staff, or from
using cashpoints that have been tampered with.
Online use is rapidly becoming extremely safe because banks impose extra
checks, rules and regulations on merchant account holders who handle online
transactions.
In fact, many banks won't allow you to trade online with a normal merchant
account. They have special internet merchant accounts which require all
sorts of extra security measures to be provided and proved before a merchant
number gets issued.
 
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R

Ronald Raygun

sk8terg1rl said:
AIUI, a webcard is a card that can only be used once with a
pre-determined upper limit set by you. So it effectively is a new card
per transaction.
So do you order them in packs of 20 or a sheet of paper with umpteen
numbers on which you cross out as you use them? Or is it a wee program
you have to run on your machine which generates a new card number each
time you run it?

Surely they must require a huge number-space, and need numbers
longer than the standard 16 digits, wouldn't that play havoc with
merchants' validation packages?
So if a merchant is less than sterling or your card
details fall into disreputable hands somehow, you have little to worry
about.
You have little to worry about anyway.
The bank my main account is with does not offer webcards. In fact I
almost never put my Debit card in my purse as it would allow criminals
direct access to my bank account.
Do you carry cash instead? Do you consider that safer?
Do you leave your card at home? What if you get burgled?
What is "nka"? I'm getting apparently unrelated acronym definitions
from online dictionaries.
ITYF it's nothing more sophisticated than a mis-spelling of "bank".

Next question: What does "ITYF" mean? :)
 
M

Michael Hoffman

Swampy said:
In fact, your card is more at risk from being used fraudulently if you use
it in certain pubs, restaurants, and shops with unscrupulous staff, or from
using cashpoints that have been tampered with.
I agree, I'm far more worried about my card details being stolen by
waitstaff in restaurants.
 
S

sk8terg1rl

Swampy said:
Thanks for the info.

That looks like the equivalent of a debit card with a pre-paid "upper
limit".

I don't see how that would be better than a credit card as the consumer
wouldn't be covered by the Consumer Credit Act and credit cards have
upper limits anyway.
 
S

Swampy Bogtrotter

Ronald said:
So do you order them in packs of 20 or a sheet of paper with umpteen
numbers on which you cross out as you use them? Or is it a wee
program you have to run on your machine which generates a new card
number each time you run it?

Surely they must require a huge number-space, and need numbers
longer than the standard 16 digits, wouldn't that play havoc with
merchants' validation packages?


You have little to worry about anyway.


Do you carry cash instead? Do you consider that safer?
Do you leave your card at home? What if you get burgled?


ITYF it's nothing more sophisticated than a mis-spelling of "bank".
LOL,
I wondered that too, but was afraid to ask in case it was some sort of TLA
that I hadn't come across before.
 
S

sk8terg1rl

Ronald said:
So do you order them in packs of 20 or a sheet of paper with umpteen
numbers on which you cross out as you use them? Or is it a wee program
you have to run on your machine which generates a new card number each
time you run it?
I think it is generated for you. Doesn't make sense to get them in
packs of 20, as the environmentalists would go ape and besides, you
need some way of communicating your upper limit and expiration dates to
banks.
Surely they must require a huge number-space, and need numbers
longer than the standard 16 digits, wouldn't that play havoc with
merchants' validation packages?
I think the cards have a very near expiration date, so numbers can be
recycled within the range of numbers different banks are allocated.
You have little to worry about anyway.
Loss of money is relative.
Do you carry cash instead? Do you consider that safer?
Do you leave your card at home? What if you get burgled?
A bit of cash and one credit card with a spending limit of a few
hundred £££. I like to run my finances tight and controlled.
ITYF it's nothing more sophisticated than a mis-spelling of "bank".

Next question: What does "ITYF" mean? :)
I think you'll find I didn't need to look that one up ;-)
 
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S

Swampy Bogtrotter

sk8terg1rl said:
Thanks for the info.

That looks like the equivalent of a debit card with a pre-paid "upper
limit".

I don't see how that would be better than a credit card as the
consumer wouldn't be covered by the Consumer Credit Act and credit
cards have upper limits anyway.
You have the same protection that you have with any other Mastercard.
Plus, it works in exactly the same way as a pay-as-you-talk mobile phone. If
you don't put credit onto it, you can't use it, and neither can a thief. End
of story.
So if your worried about getting fleeced, you just load it with small
amounts at a time. Whatever amount you need to spend.
They have 2 plans you can choose from. you can either pay a £5 charge every
month, or else pay £1 on each transaction. It really depends on how
frequently you're likely to use it.
 
P

Palindr☻me

sk8terg1rl said:
I tried applying for Cahoot's webcard but they didn't want to take me
on (despite going through the appeals procedure) because, not
surprisingly, my income band is <£15k p.a. as a student.

Can anyone recommend a company that will offer me a webcard as a
student? It seems Cahoot is the only bank doing so.
It's possibly the student bit and/or age, rather than the income. I know
people with less income than that who have successfully applied. Cahoot
may possibly be wary of people that they think will max out the 100GBP
free overdraft and then not use the account..


You may find that they will welcome you as a savings account holder - at
5% AER for a quid or more, it isn't a bad place to put a few quid, or
just a quid come to that. Then, after a few months, try for a web card
/current account again.

The Cahoot Webcard is a great idea. I wish other banks would do it.

I don't use my Cahoot current account very often though, what with it
being 99GBP overdrawn and all...
 
P

PeteM

sk8terg1rl said:
The bank my main account is with does not offer webcards.
In fact I
almost never put my Debit card in my purse as it would allow criminals
direct access to my bank account.
Debit cards are an entirely separate issue. Why do you not apply for a
simple credit card from one of the main providers like Visa? What is the
specific risk that you are worried about - theft?
 
A

Alex Heney

I tried applying for Cahoot's webcard but they didn't want to take me
on (despite going through the appeals procedure) because, not
surprisingly, my income band is <£15k p.a. as a student.

Can anyone recommend a company that will offer me a webcard as a
student? It seems Cahoot is the only bank doing so.

At the moment I'm just regularly reporting my credit card lost every so
often. My bank hasn't complained and I've never been the victim of card
fraud, although this article below seems to suggest that the law of
averages is working against me.
Not really it isn't.

20% is 1 in 5.

Which means that 4 out of 5 have never had any card fraud perpetrated
using their details. That is *ever*, not per year.

And most of them are not paranoid enough to keep getting their card
replaced at frequent intervals.

While there is no doubt that there is a risk, and even 1 in 5 is quite
a lot, the risk is not as high as many people think.
 
S

Simon Finnigan

Alex said:
Not really it isn't.

20% is 1 in 5.

Which means that 4 out of 5 have never had any card fraud perpetrated
using their details. That is *ever*, not per year.

And most of them are not paranoid enough to keep getting their card
replaced at frequent intervals.

While there is no doubt that there is a risk, and even 1 in 5 is quite
a lot, the risk is not as high as many people think.
I regularly use my cards online, to buy stuff for myself and for other
people too worried about fraud to do so. In one year I spent over £40,000
on a single card (unfortunately not all my own money :) ), and in total I
must have spent getting on for £150,000 online since I started. That is
over huge numbers of small transactions, mostly under £20, and in all that
time I have had one problem. Someone tried using my card to sign up for an
ISP in Belgium. A quick chat with the bank and it was sorted, but that was
on a card I regularly use in shops, out eating and drinking also, so I can`t
even say for certain that the number was obtained online.

People are FAR too paranoid about their CC details being stolen online :)
 
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M

Mr X

sk8terg1rl said:
I tried applying for Cahoot's webcard but they didn't want to take me
on (despite going through the appeals procedure) because, not
surprisingly, my income band is <£15k p.a. as a student.
That may not be the reason. You need to feed the robot properly. See
below.
Can anyone recommend a company that will offer me a webcard as a
student? It seems Cahoot is the only bank doing so.
AFAIK the Webcard is unique to Cahoot.

I have one, or rather I have a Cahoot credit card with the Webcard
facility.

The account is 100% web-based

When I applied over the website it turned me down immediately (in spite
of the fact I'm perfectly creditworthy) so I realised they were running
some sort of robot on the web site to do "credit scoring" based upon my
answers to their questions.

So I went back and tried to reapply but it kicked me off. I assumed they
had set some sort of cookie or were applying some other sort of time-
limit.

So I applied again 3 months later putting in the same details apart from
when it asked me if I wanted the "payment protection" when I answered
"yes" instead of the "no" I gave the first time; and when it asked if I
wanted to "transfer a balance" to the account, I answered "yes" instead
of the previous "no".

It immediately gave me a provisional acceptance based upon further
enquiries being ok and in due course I got the facility.

When I had the facility, I disabled the payment protection "insurance"
because you have a time-window to change you mind and I never
transferred a balance.
 
M

Mr X

Swampy said:
Online use is rapidly becoming extremely safe because banks impose extra
checks, rules and regulations on merchant account holders who handle online
transactions.
Rubbish. You have tunnel vision. Online use is extremely dodgy.
See below.
In fact, many banks won't allow you to trade online with a normal merchant
account. They have special internet merchant accounts which require all
sorts of extra security measures to be provided and proved before a merchant
number gets issued.
That is only a small part of the risk from misuse.

A card user is at great risk from their card details being used without
authority. It is not just about fraud.

I know one person whose details were used without his knowledge or
authority to subscribe to that so-called child porn website in Texas
that was the subject of Operation Ore

The person concerned didn't appreciate his home being raided two years
later by police with a search warrant under the Protection of Children
Act; he didn't appreciate having all his computers being seized, he
didn't appreciate being arrested, held in a cell and having to undergo
being fingerprinted, DNA'ed and photographed, then interviewed, and he
certainly didn't appreciate being on bail on suspicion of child
pornography offences for nearly 18 months.

And all because somebody used his debit card details....
 
M

Mr X

Simon Finnigan said:
People are FAR too paranoid about their CC details being stolen online :)
Rubbish.

If you ended up on bail for child porn offences for nearly 18 months,
etc, etc, because somebody used your card details, you would, I'm sure
you'd have a different attitude to the matter. See my other post.
 
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M

Mr X

Michael Hoffman said:
I agree, I'm far more worried about my card details being stolen by
waitstaff in restaurants.
There are *far* worse things that can happen with your card details. See
my other post.
 

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