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Student credit card

Because a student credit card will have no minimum income restriction, the credit card company will charge far higher levels of interest knowing that the choice of cards available to you is limited. Some student credit cards will charge as much as 25% APR on purchases, so putting things on your credit card could end up very expensive if you do not pay off the balance early.

A student credit card will often come with a host of benefits aimed at the intended user of the card, ranging from discounted contents insurance when living in halls through to book vouchers. You should weigh up the true value of these extras when deciding on which card to go for, as often they won’t be of any significant value and it is the interest rates that you need to pay the most attention to. As mentioned above, the interest charges on student cards will be higher than for regular cards that require minimum incomes to be proven, being a student will probably mean that you will either have no income or only a low amount that would not be enough to qualify for anything other than a student credit card.

Having a credit card can help to ease the financial pain that often goes hand in hand with student life, giving you the flexibility to pay for things when you need to and find the money at a later date. Short term financing is where a credit card can come in really useful, and in most cases if you pay of the amount within a month you will not be faced with any charges at all.

During your life at university you will most probably have plenty to worry about in terms of your finance, don’t let your credit card add to this – do some research into the student credit cards available and get the best deal that you can. To help you to this end we have prepared a list of the best student credit cards for you to look over.

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