Student Credit Cards - No Longer Student...

danielinfo

Hi,

I would like a bit of advice, i have just finished Uni (this summer) and i have three student credit cards (dont ask!!!) and they all have pretty much full balances on them. However, my question is what happens now as i am no longer a student? Will they move me onto standard cards or will they want the money back or will they just keep it this way?

Thanks,

Daniel

simongregson

They will keep you on the same card, or maybe 'upgrade' it to a graduate one (which is usually a different colour, if you have a job they might well raise the credit limit). They don't tend to cancel them because as an interest paying customer you are a bit of a cash cow to them!!

Either way, the interest rate is quite high, so your best option is to start paying them off as fast as you can.

jonesMUFCforever

There is no 'free' interest student credit card as far as I know so you need to come up with a plan to start repaying ASAP.#
If you keep paying at least the minimum you should be ok and they won't demand the whole sum back in one go.

You don't mention if you are now in employment - if you are and can't get an interest free card to balance transfer to consider asking your bank for a Graduate loan.