Student Credit Cards

As students suffer record levels of debt many are turning to their banks and taking out credit cards to tide them over.

These can help students keep in control of their budget while concentrating on their studies and banks are touting student credit cards to attract the university customer.

These offer the same benefits as traditional credit cards the ability to borrow money from your bank to repay at a later date. But they also offer free gifts and special incentives to those who take them out from cash to laptops.

The NatWest student credit card like many others offers discounts on DVDs and stationery at certain shops.

Beware that interest rates on credit cards bear little relation to the Bank of England base rate. While credit cards offer convenience and flexibility and often the ability to enjoy an interest-free period they are an expensive form of borrowing. Debts can mount up if you dont make regular repayments.

Also remember that failing to meet repayments on credit cards can seriously damage your credit rating.

2009-02-17 00:00:00 © Moneyextra.com