Students – Beware Of Some Credit Card Offers!

Credit cards for students come with loads of offers and free stuff. That is nothing but just a way to lure students to buy credit cards. These credit card companies need business and usually students become their soft targets. Students look for easy buying options and often fall into the trap of buying credit cards. If you are a student you would have surely been approached by several credit card companies by now. These credit card companies would have offered you credit card with loads of free stuff like CDs and vouchers. Often students get trapped and end up having a credit card, which they can easily do without. Since the students are also carefree at such an age, they tend to spend a lot and make fat profits for credit card companies. And when the students realize the consequences of their careless shopping spree, it is often too late.

In UK, student credit cards come with a high interest rate, as companies look for students who already have some form of debt hanging over them. These companies make use of these debts and students take credit cards to get rid of other debts. These credit cards companies advertise that they wish to help students in studying and making their life easier. Most of the credit companies do not let students get a standard credit card even if they are no longer students, as the companies would still be charging a high APR.

A Word of Caution

If you are a student it is your prerogative not to become easy fodder for such credit companies. Having a student credit card would seem to be a viable option, but is not. A student credit card will invariably have a higher APR than any other credit card in the market.

The credit card companies issuing student credit cards assume that you have a part time job or any source of income. This would be sufficient for them to issue you a credit card. If you really need a credit card as a student, then the best thing for you would be shortlist the best two or three companies that offer low APR. Do not fall for the minor perks and gifts that come with the credit cards. Look at the APR and calculate the amount of money you would be requiring to pay off the monthly bills with the offered APR.

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