The Best Reasons To Own A Student Credit Card

Student Credit Card
New University Year

A new university year will begin very shortly. Many students and their parents will be excited about the new opportunities that third level education offers. The world of university education opens many doors and possibilities for young people. However, students and parents may also be concerned as to how they will pay for the university year. As every home knows, a degree does not come cheap. Not only do students have to pay for the cost of books and materials for their course, other expenditures are not long amounting. Accommodation, food, and of course the important social aspect can put a heavy burden on students and their families.

Credit History

The student population, in general, is largely composed of young people straight out of school. Many of these people have never owned a credit card, or have little credit history. For the regular applicant, a credit score is required when applying for a credit card. Most people need to prove that they have the sufficient income ability, or history of repayment, to sustain credit card debt. Into this vacuum comes the student credit card. These are a source of revenue which will allow students gain access to credit, without the usual prerequisites. Student credit cards generally come with a lower credit score. As a result, banks offset the risk on these cards by imposing a lower credit limit. These cards also come with a health warning. Due to a lower credit score requirement, they tend to have a higher interest rate. Students should be conscious of using their credit cards wisely, to avoid falling into the problem of student debt.

Student Credit Card Advantages

There are many advantages for students owning and using a credit card, however. If used wisely there can be some great benefits. Owning a credit card is a great education for your future life in the workplace. Here are some reasons why a student should have a credit card.Using a student credit card, and paying off the bills incurred, will build your credit score. As long as students keep a proper handle on what they are spending, and repay their bill in a timely fashion, credit cards can be a great asset. When you leave university education and stand on your own two feet in the world, a good credit score is a fantastic benefit.

Applying For A Job

When applying for a job, many employers will carry out a credit check on potential candidates. They do this to gain a full picture of the person they are considering hiring. A student who emerges from third level education with a good credit score might just have an advantage over other graduates. It could help you land that first job straight out of university.

Renting Accommodation

University graduates will often aim for the most lucrative jobs. These jobs are usually in cities where the demand for rental properties is competitive. As everyone who has attempted to get their first place will know, it is a difficult task. It is even harder in cities where there are many other graduates competing for accommodation. Prospective landlords will almost always ask for a credit score before allowing you to sign a lease. Having a credit score after university will be a fantastic asset when you a trying to find somewhere to live.


Travel is a great opportunity that many students avail of. The university year is relatively short. Your time as a student offers free time to travel and explore new places. Credit cards can an essential tool to your travel plans. Using a credit card abroad offers better protection on fraud and theft. Travelling to a new and exotic country can be exciting but it is not without its hidden dangers. Having a credit card to rely on while abroad will give you peace of mind.

Rewards and Benefits

There are many rewards available to students who own a credit card. Many banks will offer rewards to encourage you to use your credit card, such as cash back each month for purchases made. When students run their lives on a tight budget, these rewards can be instrumental in making your time in university a bit easier.

Education in Life

wning, using and repaying a credit card is an important education in adult life. A student’s time in university is meant to open their eyes to new ideas and possibilities. Education is not just limited the classroom or lecture theatres. It also comes from taking tentative steps into the world of adulthood. Understanding repayment dates, APR and credit limits an invaluable lesson in personal finance.   Rate Officialsoffers information on the best student credit card rates available to them. We offer advice on the best credit card for you based on your spending habits, and how you can earn more rewards, cash back and pay less interest.


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