Credit Cards allow for easy access to money when you are making purchases either in stores or online. A student credit card is a great option for students, as it allows for the benefits of owning a credit card, while minimizing the interest and fees that accumulate. This is important to many students, as it can be hard to find time to earn money while you are completing your education.
Student credit cards are designed with the needs of students in mind, usually allowing a period of time where there is no interest upon the purchases made. They also have lower limits, most commonly of between $300 and $500, to minimize overspending and help you stay within your budget. They come with a lower interest rate on purchases as well as having less to pay in annual fees.
Parents can also enjoy the benefits of their children holding a student credit card. It gives them an introduction into the world of planning financially, as well as giving the security of knowing that they will have access to money in an emergency.
There are also student credit cards with rewards, such as the ANZ Balance Visa Card , that rewards you 1 point for every $1 you repay on your balance. These points can be redeemed as Cashback, shopping vouchers or gift cards.
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