June 13, 2005

Students beware! There are credit card companies out there who will offer you up free vouchers for books and CD’s and pretending to be the only credit card that has your future at heart, while all along they are fleecing you out of the cash and hoping you are the stereotypical student, who is lazy and care free, who only wants to have a good time and worry about the consequences later.

Student are among the highest in the interest rate stakes and the companies who issue them are on the look out for students who have already got so form of debt and they in turn will take a student credit card if they need it for their studies or just to lead the student life.

The other hope of the student credit card issuers, is that you will carry on using the card even after you have finished your further education, though the sting being they do not revert to a normal APR of a standard credit card, even though you are no longer regarded as a student.

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The best thing to do if you feel that you need a credit card, is to exhaust all the other avenues before you settle for a student credit card and don’t go into it believing that you will automatically receive the preverbal “knock back”, as you could be pleasantly surprised at how many with a lower interest rate than student, are out there.

A lot of these credit card companies wont take into account of having to have a steady yearly income; they will go on the fact that you are doing some sort of seasonal or part-time work, this will be enough for them to issue with one of they’re and remember at a lower rate than the student credit card.

So take this advice, and when you are looking for a credit card, don’t be the type of student that your banks are looking for, don’t take the first student credit card that is put in front of you with all the little perks that come with it. Check out all the that have not got a minimum earnings clause attached to it and you will be quite pleasantly surprised at the gulf in interest payments. So use that brain that you have and make sure that when you finish your studies and get that first job, that you are not going into it to pay off a massive debt.