Student credit cards are the credit cards that have been specially designed for uni students. Student credit cards are becoming more and more increasingly popular as the generation Y uni students are finding it harder to find part time work that conforms to their need for money and for study. Student credit cards allow the students to experience the benefits of credit cards much earlier in their life to take on the responsibility of credit spending and finance budgeting. Through student credit cards, the uni students are able to learn more about credit cards and their use. In fact, for most, the student credit card is their first credit card that acts as a gateway to the world of credit cards. Some other students might have previously used supplementary credit cards linked to their father’s credit card account; however, for such students too, their student credit card is the first one that is truly theirs.

Student credit cards are not very different from other types of credit cards in the basic sense; they function in the same way as any credit card would. However, there are some differences, which basically arise from the fact that student credit cards are used by people who have no prior experience with credit cards and who perhaps don’t completely understand the concept of credit cards. Hence, the credit card supplier is at risk with issuing credit cards (student credit cards) to such people whom he is not sure about. Most of the students don’t have a credit history either. In such a case, the supplier of student credit card cannot be sure of receiving the credit card bill payments in time (and even receiving them at all). To counter such risks, the supplier of student credit card requires the parent of the student to co-sign the student credit card application form as a guarantee. Moreover, the credit limit on student credit cards is generally around a $500.00 to a $1,000.00 credit limit.  This limit is of course lower than what it is for other credit cards (this credit limit is generally sufficient to fulfil the typical needs of a student). Another risk management instrument used by the student credit card suppliers is the interest rate or APR. The APR on student credit cards is generally higher than that for other credit cards. Again, this is done to dissuade the students from overspending on their student credit card.

We acknowledge the fact that credit card debt is never a good thing.  However, we also acknowledge that having a student credit card is one key tool in developing the overall fiscal responsibility in a young Aussie’s life and in today’s economy, that can only help.

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Welcome to www.StudentCreditCard.com.au.  We are not an online credit card company and we are not a credit lender, loan company, finance company or credit counseling company.  We do not warranty in any way that applying for and/or using any of the credit card services you find on our website.  Our aim is to provide you with a fast, efficient and easy searching method by way of our blog here to assist you in saving time.

We understand the amount of time you spend at uni and studying.  We’re here to assist you the best way that we can in making an important decision about getting a student credit card or especially your first credit card.  We will be writing articles and also allowing feedback from students and users of this website.

Again, welcome to www.StudentCreditCard.com.au and if there is an added feature or service that you would like to see on the website, please contact us and we’ll see what we can do.

Admin