Credit Card Blog

Natwest have a dedicated student credit card – but is it worth getting?

At first glance, you might think not. The interest rate (APR) is 18.9%, which is ok but not the best on the market. Some cards have rates of 14.9% for example. There’s no interest free period on balance transfers so no potential to save money with these kind of offers. Ok, the first thing they talk about on the site is the fact that you get up to 56 days interest free. Well, this is the same as pretty much every other card, and it just means that if you pay off your balance every month you shouldn’t get hit by interest payments.

What else is there?

The Natwest travel service offers “a wide choice of discounts” – not very explicit and doesn’t tell me too much. I have no idea what kind of discounts or how much so I’ll leave you to think about whether this makes it a worthwhile student credit card! Next on the list is 10% off Superbreak, applicable in over 1600 hotels across the country. When I was a student, a hotel break was rare, and getting a credit card as a student just to benefit from this.. hmm!

More useful?

There are a few offers which are potentially a bit more useful (dependent on who you are of course). As a student I loved travelling – and getting money off Lonely Planets would have been cool. Likewise, Firebox has some great stuff, and even though it’s only £5 off, this voucher could be useful. Lastly, 15% off Kitbag – if you’re sensible and you’re into sports this could save you quite a bit of money. A good pair of runners, or some football boots, it all adds up.

So, although there are a few good things about this card, it’s more the perks that seem to stand out – why would you apply for it then? (for more student credit card comparisons visit our comparison page)

Well, as a dedicated student credit card Natwest are going to have different application criteria that you have to meet. Whilst with normal credit cards a lot of focus is placed on your credit score, credit history and how you are going to be able to repay your debt, as this is a student credit card Natwest are going to be taking a slightly different view. They may almost expect you to not have much of a credit history, and similarly, they should be taking into account that you’re studying and so can’t be working that much. This all means that as a student, getting a dedicated student credit card may not just be easier, it may well be the only option.  That’s a pretty good reason to apply for the Natwest student credit card – well, as good a reason as any!

This entry was posted on Monday, September 22nd, 2008 at 10:31 pm and is filed under Uncategorized.
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