Student Credit Cards > Do I need a student credit card

If you are weak-willed when it comes to financial matters, then they really aren't for you - cut them up. The card providers are all too aware of their potential for abuse and try to keep a lid on things by imposing credit limits for students, typically £500.

If you transfer your balance to a new card, you should get a discounted interest rate usually for the first six months but be warned: this rapidly rises once you are an established customer.

Credit cards work best if you can pay off the balance each month and you don't use them to draw out cash.

Switch cards are good for everyday purchases and for withdrawing money from cash machines, but check with your bank about charges for using rival bank ATMs.

Stores often offer 10% off your first purchase if you take out one of their store cards, but if you leave your balance unpaid at the end of each month you will pay a high price for the privilege of holding their card. By and large, it is best to not get them at all.