We share the benefits of shopping with a student credit card if you're studying.
The majority of the high street banks offer specifically tailored student credit cards, usually as part of a comprehensive student finance package including a student bank account and overdraught.
Student credit cards will allow you to borrow money without any income and in this way they can be useful for buying books and essentials until your student loan comes through and also handy for 'emergency' expenses such as car repairs. However, it is worth remembering that the amount spent on a student credit card still has to be paid back and interest does tend to be charged at a relatively high rate compared to standard cards.
The majority of student credit card offer good incentives such as discounts and special offers in certain shops and on certain student related products and sometimes even free gifts. They may also offer additional features such as travel accident protection and card protection. Additionally some may offer optional payment breaks several times a year and also text reminders to help remind you to make payments on time.
As long as student credit cards aren't seen as 'free money' and at least minimum payments are made each month, they are a good way to start building a good credit rating and can provide a flexible form of short term borrowing.
