Barclaycard unveils new student offer

Claiming to have the lowest APR of its competitors, Barclaycard Student is said to be designed for those new to credit and debt and has no fee for breaking the £600 credit limit.

James Le Brocq, head of Barclaycard UK credit cards, said: “We have tried to create a card which will help students get the most out of university life but recognises that there are times when finances will be under pressure.”

The current generation of students are facing up to the prospect of graduating with larger debts than any of their predecessors ever had and Barclaycard states that it wants users to get used to credit.

It is only charging a five per cent minimum monthly repayment and will text holders when they go over their limit which could stop many from taking on too much debt at university.

“By keeping credit limits sensible, reducing charges and introducing features like text reminders, students can build a credit history which will prove useful throughout university and beyond,” added Mr Le Brocq.

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