Barclaycard re-launches student credit card

September 1, 2006

By Peter Kenny

September is the month many university's open their doors to welcome their students. At a time when financial worry can impair a student's performance, Barclaycard has re-launched its popular student credit card.

Named Barclaycard Student, this new credit card is designed to help students use their credit in a sensible manner. The APR of the Barclaycard Student has been kept low at 14.9% and unlike other credit cards, Barclaycard have kept their cash withdrawal rate the same as the standard APR (2.5% fee minimum £2.50) 

On opening the Barclaycard Student account automatically receives a credit limit of £600 and importantly, there are no fees for accidentally going over the credit limit. In order to help students make their monthly payments on time Barclaycard can send out a free text message reminding the students that payment is due. Minimum monthly payments are 5% of the outstanding balance.

Barclaycard are also offering an exclusive price on a Dell notebook at £360. The cost can be repaid over the year, interest free at £30 each month.  Various discounts at online stores like buyagift.co.uk and cdwow.com are offered and at the same time there are discounts of up to 20% off selected products at Argos.

Head of Barclaycard UK Credit Cards, James Le Brocq, said, “We have tried to create a card which will help students get the most out of university life but recognises that there are times when finances will be under pressure.

“By keeping credit limits sensible, reducing charges and introducing features like text reminders, students can build a credit history which will prove useful throughout university and beyond.”

The Barclaycard Student card launches on September 4th