Bank Cards

If you have a credit card from home - hold on to it.  First time account holders in
London (unless you have the gift of the gab) are generally given a Solo card for the
first few months.  This card simply allows you to withdraw money from an ATM.  It does
not act as an EFT-POS card - you cannot use it in store in lieu of money to make a purchase. 

Generally, after two months, if you have been gainfully employed, you can apply for a
SWITCH card.  In addition to the functionality of your Solo card, you can use this card to
guarantee cheques (up to £100 - NB: stores will not accept cheques without a SWITCH or CREDIT
CARD guarantee), and you can use this card to make purchases in store, like an EFT-POS card.  

Credit Cards are harder to come by.  Generally you need to show a steady income for at least six
months into your main account with the bank where you are applying for the card.  Don't be surprised
if they turn you down first time around either.  Of course, you may be one of the lucky ones, who are
offered all these cards up front when opening an account, but this tends to be the exception rather than
the rule.

Also be careful with how many times you apply for a credit card… in the UK they have a credit rating
system - which enforces everything from your likelihood in getting a credit card, or loan or any other
facility that you think of that requires a credit rating.  Getting turned down for multiple applications
for credit takes points of your rating, and will make it harder to be accepted when reapplying.  If
you are turned down initially for credit - leave reapplying for one to two months.

Bank charges

These vary greatly from bank to bank, so it is worthwhile to shop around.  Some banks offer
a £500 overdraft on your chequing account, which is definitely worthwhile pursuing.  If you
go overdrawn even by over £50 for a day or so on your account without having this
facility, the bank will charge up to £25 in dishonour fees - for every month you
are overdrawn.  A good place to gather more information on UK banks and
their charges is at www.ftyourmoney.com or go straight to their
account finder page.