Student Credit Cards
We are increasingly making more of our purchases on credit. Excessive
use of this facility can clearly lead to long term debt problems and
cause a real headache but it needn’t be the most expensive form of
short-term borrowing. The credit card business is fiercely
competitive but this offers the consumer a great choice, especially in
the form of introductory offers. As a recent graduate you probably
have a lot of expenditure – moving home, furnishing a house/flat etc. so
despite earning a salary you could find yourself with a substantial
credit card balance. In addition, it is estimated that in 2001 as
many as 30% of graduating students had outstanding credit card debts.
This means that you have an opportunity to take full advantage of some
of the benefits.Myth: Credit Cards are the most expensive form of debt. This
is the line often bandied around even the most prestigious financial
publications.Fact: Credit Cards can be extremely cheap compared to personal
loans, often it is possible to pay 0% interest for a sustained period
of time.
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