Barclaycard student offer under fire

The limit has been raised from £300 to £600 but consumer groups are saying that students should not be able to get credit, especially as some cards charge interest rates of 21.47 per cent.

Frances Walker, of the Consumer Credit Counselling Service, told the Times: “Our advice to students would be to make use of the cheaper forms of credit available to them, such as student loans and interest-free overdrafts, before turning to credit cards of any kind.”

Her warning about credit comes as official figures released last month showed that many graduates are declaring themselves bankrupt due to student debt.

While Barclaycard maintains that the credit card is to “help students enjoy life”, Citizens Advice warned against taking on credit and debt.

“Spending on credit cards should be avoided wherever possible,” said Sue Edwards of Citizens Advice, in the same article.

track

Tell others:

shortlink