Credit Card And Finance News

There are a number of reward based points schemes on offer to students who have a passion for splashing out on their credit cards, according to Defaqto.

Using different kinds of card for different types of spending can also create savings for students when using their credit cards, according to the bank.

David Black, the principal consultant of banking at Defaqto, said: "There are a variety of reward based credit card schemes and these include points schemes, air miles and cashbacks."

He added that some of the deals can be "very difficult" to compare in the case of cashbacks it is worth reviewing what is available on a regular basis as the best offers often "gain that position by virtue of a short-term introductory enhanced rate".

Mr Black concluded that people who are unlikely to pay the entire balance back should concentrate on the interest rate which is offered rather than the rewards which are on offer.

Among the deals on offer is the Capital One Bank Platinum Credit Card with Bonus Cashback which offers consumer one per cent cashback on all spending.

Defaqto is a privately owned research company which looks into the financial services industry. It has been established since 1994.

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