How To Finance A Student Holiday Using A Credit Card

If you are trying to figure out how you will be paying for a student holiday you might start by looking in your wallet. A credit card with perks and other advantages can help you save money or even pay a portion of your trip. One other way to finance your holiday is through a credit card balance transfer.

Paying for a student holiday can be a little difficult. As a student you probably have a lower income then you would like to put towards your trip. The option of using a credit card to find your trip can be a good one as long as you are able to only spend what you can reasonably afford to pay back in a given amount of time. Another option is to use the perks you get from your credit card company toward your holiday expenses. With the right card and some careful planning you can take some time off and enjoy being a traveller rather then a student.

Paying For A Student Holiday:

• Use your perks – If you have a platinum credit card you probably get complimentary travel insurance and purchase protection. In order to save on these expenses while you plan your trip and while you are actually travelling use the platinum card for your purchases.
• Rewards points – Many credit cards offer travel rewards points. If you have not signed up for the program yet, do so long before you go on your trip. Then, use your card for everything so that you can earn as many points as possible. Of course, you will have to be careful to only spend what you can afford to pay back at the end of each month. The points can translate to big discounts on accommodations, car hire, and dining. Some of the programs even translate your points directly to frequent flyer miles. With the right planning you may be able to fund a large portion of your trip with points alone

There is another way to use your credit cards when paying for a student holiday. If you must put the whole or a portion of the trip on your credit card you can do a balance transfer to help ease the burden of paying back that debt. A balance transfer is when you move the debt from one credit card to another for a lower interest rate. For example, if you fund your holiday with a credit card that carries a 15% interest rate, that holiday could easily double in cost if it takes you six months to pay it off. But, if you transfer it to a credit card that offers a 0% interest rate on balance transfers you can save yourself all of that money and only pay back the principle amount of your debt. Be careful though as these balance transfer deals come with many restrictions. You should still take care not to spend more on your holiday then you can afford to pay for on a budgeted schedule over a relatively short period of time.

When you really look into it paying for a student holiday is not so difficult. It can be a good lesson in how to manage your finances and budget your expenses. Learning how to use your credit card correctly and how to pay your bills on time is one of the most important lessons you will learn at university and in life.

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Westpac Low Rate	Citibank Clear Platinum	Qantas AMEX Discovery	ANZ Platinum
0% p.a. for 6 months on purchases & balance transfers	2.9% p.a. for 12 months on balance transfers	$0 annual fee Up to 10,000 Bonus QFF Points	0% p.a. for 6 months on purchases & balance transfers

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Popular Credit Card Offers

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card - 0% Offer	A credit card with a low rate offer on both balance transfers and purchases, plus a low annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	Citibank Clear Platinum Card	Competitive interest rate on purchases and balance transfers offer.	11.99%	2.9% for 12 months	$99	21.74%
	St George Vertigo	Take advantage of this great offer from St.George with a low rate on purchases and a low balance transfer offer.	13.24%	0.99% for 12 months	$55	21.49%
	ANZ Platinum Credit Card	An introductory interest rate offer on balance transfers and purchases, plus a $0 first year annual fee.	0% for 6 months (reverts to 19.24% )	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%