Credit Card Blog

We carried out a survey about credit card usage amongst students a few weeks ago - and we’ll be analysing and announcing the results officially, but there were a couple of things which really stood out.

Firstly - only half of those who said they had a credit card, said that they had any kind of promotional period on it. This means that 50% of those who have a credit card don’t have any interest free period currently. If you’re a student and you need to have a credit card, it’s a really good idea to keep switching providers (if you have an outstanding balance on your card or use it for purchases!). Some providers offer up to 16 months worth of 0% interest on balance transfers (Virgin credit card), and up to 6 months 0% interest on purchases.

Secondly, another thing we noticed was that 22% of people claimed they weren’t fussed about the features of the card. Credit card providers have very different offerings and although it may seem that one card is similar to the next, this is a fallacy. If you look at the features and analyse them carefully then you can get yourself a substantially better deal than otherwise - so it’s crucial that you do your research. Have a look at student credit cards here

For students who have credit cards, managing debt wisely is something that could save you loads of money and make your time in education much easier. If you could save £50, or £100 just by choosing a good provider, it makes sense to look carefully when you choose which credit card to apply for.

More stats from the survey to follow - and we’ll be writing up information that may be of interest for everyone and may help you save money and make more informed decisions.

This entry was posted on Tuesday, November 4th, 2008 at 1:33 am and is filed under Uncategorized.
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