Student Credit Cards

There are cards that are created especially for high school and college students that can be taken out to pay for all of your educational expenses such as books, rent, fees and general living costs. Card companies know that students are unable to have high earnings and so student credit cards have lower credit limits. However, many student cards offer exclusive deals and discounts exclusively for students. They can also be useful for starting to build up a credit score which will stand you in a good position for the future.It is important to watch out for the APR which can be higher than normal credit cards as providers see students as higher risk because they might lack the security of a regular income. Start your comparison search now by using the chart below.

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Compare Student Credit Cards

What is a student credit card?

These credit cards are designed specifically with students in mind. As a student you can often be short of cash and this is generally understood. As you are unlikely to have a credit history a student credit card is likely to be the only credit card available to you. You can use student credit cards in the same places as normal credit cards such as online, in restaurants and shops.

What is the difference between a student credit card and a normal credit card?

The main difference between a student credit card and a normal credit card is that the credit limit on a student credit card will be lower than that of a normal credit card. The reason for the lower credit limit is to ensure that you donít get into too much debt and will be able to pay the credit limit back.

A student credit card can build your credit history

A student credit card is really good for building up your credit history. A lot of people come out of university and find that they canít get a credit card or any sort of loan because they have no credit history. If you have a student credit card which you pay off each month then you will build a positive credit history which will make it much easier to borrow money in the future.

In order to qualify for a student credit card you will need to have an income of at least R 200 a month. You will also need to be a full time student in order to apply for a student credit card.

Be careful with student credit cards

Ideally this card should only be used in emergencies and in order to benefit your credit history you should aim to pay back the total amount of credit on the card each month. If you miss or are unable to make payments on your card then you risk damaging your credit history which will affect you negatively when you try to obtain credit in the future. You need to manageyour money repsonsibly whih you can do with a financial management tool.

Read the terms and conditions before you get your student credit card

If you are interested in a student credit card it is worth shopping around. These cards vary from company to company and some may benefit you more than others. Beware of looking for the card with the biggest credit limit. The more that you borrow the more you will have to pay back and this can be expensive. Make sure that you read the terms and conditions of your student credit card thoroughly as this will ensure that you understand exactly what you are getting into and what the charges are. It may also be worth getting some independent advice on getting the best out of your credit card and getting the right credit card.

Use the comparison grid above to help you compare the student credit cards available in the UK so you can choose the best card to suit your needs.

Student Credit Cards - Latest News News and Charts

Student credit cards: Top tips when applying for a student credit card

24 September 2013
Which Way To Pay

Student credit cards can be a great way for you to get started at university, but ensure you pick the right card otherwise you could find yourself in serious debt.


What are student credit cards?

03 July 2013
James Larkin

During education students usually have no or only a little income, but this does not mean they necessarily have to do without the benefits of a credit card. For traditional credit cards though, application by students will usually be declined because of a non-existent credit score. This is why some card companies offer special credit cards for students, with special conditions.


Have You Considered A Student Credit Card?

19 July 2012 19:00
Lucy Williams

A student credit card can benefit you in more ways than one. As a student keeping control of your finances can be difficult especially for young students who find themselves away from home and in a new environment and you are dealing with paying rent and funding your everyday costs of living.


What You Need To Know About Credit Cards For Students

14 June 2012 16:00
Victoria Wedderburn

Student credit cards are especially created for university and college students. They can be used to help you pay for things like travel, books, accommodation and your daily expenses.