What are the Best UK Credit Cards for Students?
Best UK Credit Cards for Students: Your Ultimate Guide
As a student, managing your finances can be challenging, especially if you are studying in a foreign country. However, getting a credit card can be a great way to build your credit score and enjoy various benefits such as rewards and cashback. In this article, we will explore the best credit cards forstudentsin the UK, their features, and how to apply for them.
1. NatWest Student Credit Card
If you are looking for a credit card that offers low-interest rates, the NatWest student credit card is a great option. With this card, you can enjoy an interest rate of 18.9% and a credit limit of up to £500. The card also comes with a cashback reward of up to 10% when you use it at selected retailers.
2. Barclaycard Student Credit Card
The Barclaycard student credit card is another great option for students. With this card, you can enjoy a 0% interest rate on purchases for the first six months. The card also comes with a credit limit of up to £1,200 and a cashback reward of up to 0.25% on all purchases.
3. Santander 123 Student Current Account
The Santander 123 student current account is not a credit card, but it offers various benefits to students. With this account, you can enjoy a 16-25 Railcard for four years, which gives you a 1/3 discount on train travel. You can also earn up to 3% cashback on selected household bills such as gas, electricity, and water.
4. Aqua Classic Credit Card
The Aqua classic credit card is designed for people with low credit scores, making it a great option for students who are just starting to build their credit history. The card comes with a credit limit of up to £1,200 and an interest rate of 34.9%. It also offers a free credit checker tool that enables you to monitor your credit score.
Applying for a Credit Card
To apply for a credit card, you need to be at least 18 years old and have a regular income. You also need to provide proof of identity and address. Before applying, make sure you compare different credit cards to find one that meets your needs and has the lowest interest rates and fees.
Credit Card Saving Tips
To avoid paying high-interest rates and fees, it's essential to use your credit card responsibly. Make sure you pay your bills on time and avoid using your credit card for cash withdrawals. You should also keep your credit utilization ratio low, which means only using a small percentage of your credit limit.
Annual Fees and Avoiding Risks
Most credit cards come with an annual fee, which can range from £0 to £200. Before applying for a credit card, make sure you understand the fees and how to avoid them. You should also be aware of the risks involved in using a credit card, such as fraud and identity theft. Always keep your credit card details safe and report any suspicious activity to your card issuer immediately.
Credit Card Company Recommendations
When choosing a credit card, it's essential to consider the reputation of the card issuer. Some of the most reputable credit card companies in the UK include American Express, Barclaycard, and HSBC. These companies offer various credit cards with different features and benefits, so make sure you choose one that meets your needs.
In conclusion, getting a credit card as a student can be a great way to build your credit score and enjoy various benefits. However, it's essential to choose a credit card that meets your needs and use it responsibly to avoid high-interest rates and fees. By following the tips in this article, you can find the best credit card for your needs and enjoy its benefits while avoiding the risks.