Student Credit Cards

Beginner Guide to

Student Credit Card

A student credit card can help you build your credit history and establish a good credit rating, which can be helpful when you apply for loans in the future. It can also help you manage your finances and stay within your budget. Lets look at how to get the best deals on student credit cards

Things to consider when choosing a student credit card

There are a few things to consider when getting a student credit card in New Zealand.

The first is the interest rate. Many cards have high interest rates, so it is important to find a card with a low interest rate.
The second is the credit limit. Many cards have low credit limits, so it is important to find a card with a high credit limit.
The third is the annual fee. Many cards have high annual fees, so it is important to find a card with a low annual fee.

7 Tips that will help you with student credit cards

Student credit cards can be a great way to build credit and earn rewards, but you have to be careful.

Here are seven tips for using student credit cards in New Zealand.

1. Research the options There are a few different types of student credit cards in New Zealand, so it’s important to research the options and find the right one for you.

2. Compare interest rates Interest rates on student credit cards can be high, so it’s important to compare rates and fees before you apply.

3. Consider a secured card If you have a limited credit history, you may want to consider a secured credit card. This type of card requires a security deposit, which is used as collateral in case you default on your payments.

4. Use your card responsibly It’s important to use your student credit card responsibly. This means making on-time payments and keeping your balance low.

5. Pay your balance in full If you can, you should always pay your balance in full each month. This will help you avoid interest charges and keep your credit score high.

6. Avoid cash advances Cash advances are expensive and should be avoided if possible. If you need cash, you’re better off using a debit card or withdrawing cash from an ATM.

7. Monitor your credit report It’s a good idea to monitor your credit report regularly. This way, you can catch any errors and correct them quickly.

Pros And Cons Of Student Credit Cards

There are both pros and cons to having a student credit card in New Zealand.

One of the biggest pros is that it can help students build their credit history. This can be beneficial later on in life when they need to take out loans or make other large purchases.
Another pro is that student credit cards often have lower interest rates than regular credit cards. This can help students save money in the long run.
One of the biggest cons of having a student credit card is that it can be easy to get into debt. If students are not careful, they can easily charge more than they can afford to pay back. This can lead to late payments, high interest rates, and damage to their credit score.
Another con is that student credit cards often have higher fees than regular credit cards. This can add up over time and make it more difficult for students to pay off their balance.

The best student credit cards in New Zealand

1. ANZ First

2. Kiwibank Low Rate

3. Westpac Altitude

4. ASB Bright

5. BNZ Advantage

- The ANZ First student credit card has a low interest rate of 12.45% p.a., a $60 annual fee, and a $500 credit limit. It also offers a rewards program where you can earn points for every $1 you spend, which can be redeemed for cashback, merchandise, or travel.
- Kiwibank’s Low Rate student credit card has a low interest rate of 12.95% p.a., a $30 annual fee, and a $1,000 credit limit. It also offers a rewards program where you can earn points for every $1 you spend, which can be redeemed for cashback, merchandise, or travel.
- Westpac’s Altitude student credit card has a low interest rate of 13.45% p.a., a $59 annual fee, and a $1,000 credit limit. It also offers a rewards program where you can earn points for every $1 you spend, which can be redeemed for cashback, merchandise, or travel.
- ASB’s Bright student credit card has a low interest rate of 13.95% p.a., a $30 annual fee, and a $1,000 credit limit. It also offers a rewards program where you can earn points for every $1 you spend, which can be redeemed for cashback, merchandise, or travel.
- BNZ’s Advantage student credit card has a low interest rate of 14.45% p.a., a $40 annual fee, and a $2,000 credit limit. It also offers a rewards program where you can earn points for every $1 you spend, which can be redeemed for cashback, merchandise, or travel.

Beginner Guide to