How To Properly Use A Credit Card For A Student Vacation

Credit Card Deals

	Interest Rate p.a.	Balance transfer Rate p.a.
Commonwealth Bank Low Fee Student credit card	0% p.a. for 5 months (reverts to 19.74% p.a.)	5.99% p.a. for 5 months
ANZ First Visa Credit Card	19.39% p.a.	0% p.a. for 9 months
Westpac Low Rate Card	0% p.a. for 6 months (reverts to 13.49% p.a.)	3.99% p.a. for 6 months

Using a credit card to get away from it all is sometimes the wisest choice a student can make.

Students have a rough time through the school year and many need a vacation in the middle of their studies to get back on track and finish the year.

Taking a student vacation with your credit card

Even though it seems that most students are suffering some kind of financial crisis, there is usually enough money to finance some sort of vacation during the school year or after it is over. Students have a lot less responsibilities than grown adults that have a mortgage to pay and children to feed. Although finances do seem to be a problem for students, it is usually not as bad as first thought.

Funding the vacation

Before even considering a vacation, a student should start by filling out an application for a credit card that has a travel rewards program associated with it. This will give the student a chance to collect valuable points that can later be used to help finance the vacation. The student needs to make sure that he uses the card as much as possible to collect a lot of points.

This does not mean that the student should overspend with the card, merely that everyday expenditures such as food and hygienic items should be purchased with the card. As long as the credit card is paid off in full every month, there will be no interest added at all and the points will start to accumulate rather quickly.

Promotions on travel cards

It is always best to look for a credit card that offers an introductory promotional offer for points. Some cards will give you a lot of points just for signing up with that card. This gives you an opportunity to collect points fast for that much-deserved vacation.

Paying back the money

Once the vacation is over, the student will have to pay back the money on the credit card. The best thing to do is to apply for a balance transfer credit card with a 0% interest rate for six months. This will give the student a chance to pay off his vacation without incurring a lot of interest every month. Since many students get a job once their exams are finished, it should not be a problem paying off the balance on the card.

Students deserve a vacation and the best way for them to plan one is by using their credit card. If the above steps are followed, there should be no problem paying off the balance and then starting to plan the next trip.

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Student Credit Cards Deals

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			Interest rate (p.a.)	Balance transfer rate (p.a.)	Annual fee	Cash advance rate (p.a.)
	Commonwealth Bank Low Fee Student credit card	A low interest rate on balance transfers and purchase with no annual fee for students.	0% p.a. for 5 months (reverts to 19.74% p.a.)	5.99% p.a. for 5 months	$0 p.a.	21.24% p.a.
	ANZ First Visa Credit Card	This simple a low annual fee credit card is ideal for students	19.39% p.a.	0% p.a. for 9 months	$30 p.a.	20.99% p.a.
	Westpac Low Rate Card	A simple low interest rate card featuring a low ongoing rate on purchases and balance transfers.	0% p.a. for 6 months (reverts to 13.49% p.a.)	3.99% p.a. for 6 months	$45 p.a.	21.49% p.a.

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Credit Cards Comparison

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			Interest rate (p.a.)	Balance transfer rate (p.a.)	Annual fee	Cash advance rate (p.a.)
	ANZ Low Rate	A low rate on purchases, balance transfer and a low annual fee.	13.14% p.a.	0% p.a. for 9 months	$58 p.a.	21.49% p.a.
	HSBC Credit Card	No annual fee for the life of the credit card. Plus a low balance transfer offer.	17.99% p.a.	0% p.a. for 6 months	$0 p.a.	21.99% p.a.
	Bankwest Zero Platinum MasterCard	Exclusive Offer to Credit Card Finder. No annual fee credit card with platinum benefits.	17.99% p.a.	0% p.a. for 9 months	$0 p.a.	21.99% p.a.
	Commonwealth Bank Low Rate Credit Card	A low interest rate offer on purchases and balance transfers.	0% p.a. for 5 months (reverts to 12.99% p.a.)	5.99% p.a. for 5 months	$78 p.a. ($48 for qualifying customers)	21.24% p.a.
	ANZ Platinum Credit Card	No annual fee for the first year and a balance transfer offer.	19.39% p.a.	0% p.a. for 9 months	$0 p.a. annual fee for the first year ($87 p.a. thereafter)	20.99% p.a.

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.