Nearly every undergraduate that we know rips through money like there is
no tomorrow (in many cases there is no tomorrow, as they spend two days
sleeping off one nights drinking). Buying booze, going to Take That concerts,
condoms, or simply buying far too many chemistry books, there’s always
some good reason to waste cash. So if you think you’re able to prevent
yourself running headlong down to the local lap-dancing club or into the
nearest book shop, work out if it's right for you and apply. The majority
of banks and building societies provide student credit cards, but many more
providers are branching out into this market, so there is a wide choice.
Student Credit Cards
Credit terms vary among issuers. When shopping for a card, think about how
you plan to use it. If you expect to pay your bills in full each month,
the annual fee and other charges may be more important than the periodic
rate and the APR, if there is a grace period for purchases. However, if
you use the cash advance feature, many cards do not permit a grace period
for the amounts due - even if they have a grace period for purchases. So,
it may still be wise to consider the APR and balance computation method.
Also, if you plan to pay for purchases over time, the APR and the balance
computation method are definitely major considerations.
You'll probably also want to consider if the credit limit is high enough,
how widely the card is accepted, and the plan's services and features.
For example, you may be interested in "affinity cards" - all-purpose
credit cards sponsored by professional organizations, college alumni associations
and some members of the travel industry. An affinity card issuer often
donates a portion of the annual fees or charges to the sponsoring organization,
or qualifies you for free travel or other bonuses.
Loans UK can help you find
the right student loan for your circumstances.
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