How to Successfully Apply for A Student Credit Card

Information verified correct on October 2nd, 2015

Financial management is and will always be a matter of concern for everybody. If you are a college or university student, obtaining a credit card is the best way of building a good credit history.

You might have seen various credit card applications displayed all over the campus. This guide will help you to successfully apply for a student credit card and avoid bad debt pitfalls.

What will this article cover?

  • What are the things you need to do to successfully get a card?
  • What tips will ensure you have a better chance of getting one.
  • Why are these techniques going to work?
  • Who has done this before and what results did they get? Who provides the cards?
  • How do you apply for a card?

With each passing year, more and more students are opting for student credit cards. It is very thrilling for a student to get hold of their first credit card, and use the piece of plastic to get whatever they want, at the swipe of a card. However, being a student you should be aware of the pitfalls associated to owning a credit card. Hence, it is always suggested to get hold of a credit card from a reliable company.

Student Credit Cards Comparison

Rates last updated October 2nd, 2015
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
St.George Vertigo Visa
Low ongoing rate on purchases, introductory balance transfer offer, plus a low annual fee.
0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
ANZ First Visa Credit Card
This simple a low annual fee credit card it offers interest free days on purchases and low minimum credit limit.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $30 p.a. 21.49% p.a. Go to site More info
ANZ First Student Card Offer
Simple credit card with low annual fee which makes it ideal for students.
19.74% p.a. $0 p.a. annual fee for the first year ($30 p.a. thereafter) 21.49% p.a. Go to site More info
Bank of Melbourne Vertigo Visa Credit Card
Enjoy a low rate on your everyday purchases with a balance transfer offer of 0% p.a. for 18 months.
0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info

Factors to be considered while applying for a card

Many banks have easy to follow eligibility criteria for a student credit card. Most of the Australian banks require proof that you are a student.. A student card would be good proof and will confirm the fact that you are enrolled in a 2-year or 4-year University or college course and that you have a reliable source of income.

The bank needs to know your full name, occupation, residential address. If according to the rules of a particular bank, you are allowed to opt for a secondary credit card, you will have to mention the details of the secondary cardholder.

Having a part-time or full-time job is not considered a prerequisite, as very often children ask their parents to pay their bills whenever they fall behind on payments or have oversized balances. Besides, credit card companies are aware that students don’t have high earnings during their educational tenure. On the other hand, they also know that things change for good once students get their graduation degrees.

If you are planning to opt for a student credit card, the credit card company would ask for a co-signer who would act as collateral, a form of insurance. This would be the person the company would fall back on if you were unable to repay the debt. This could be your guardian, parent, or any family member.

Before you select a credit card, you should compare the interest rates offered by the various student credit cards companies. Enquire about the introductory rate and the rate levied after the end of the introductory period. Also, take a look at the credit card charges for annual fees, late fees, and other fees associated with charges levied over the present credit limit.

Many credit cards award you with added benefits, like reward points or cash back on your purchases. Reward points can accumulate into nice additional perks eventually.
Make certain that the benefits you have been awarded do not have any exorbitant fees or higher rates.

Tips for acquiring a reliable credit card

  • Always opt for credit cards with reasonably low limits. Choosing a student credit card with a high limit is not advisable for unemployed students as they are notoriously famous for splurging on shopping sprees.
  • Don’t forget, the credit is meant to establish the foundation for a good credit rating, it is not your source of income. Always maintain a low balance and repay bills regularly.
  • Student credit cards are known for their low interest rates. Many companies would offer 0% Annual Percentage Rate (APR) for the initial 6 months. This is the best time to make purchases. However, make sure you check for the rates after the first 6 months. If the company levies a high rate of interest, it is advisable you switch to another card that offers a low rate.
  • Look for credit cards with an online management system. When you have easy access to your account via the Internet, you can check your financial status from time to time and use the rewards more often.
  • Some companies have certain policies when it comes to a Lost Credit Card’. This would protect your account even when your wallet is stolen or is lost.
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Various Student Credit Cards Providers in Australia


Westpac bank has an excellent offer for full-time tertiary students from an established tertiary college or institution. This is best for students who are not working full-time or have to change their address often. In short, it’s best for students who cannot qualify to the standard norms for a student credit card application.

With the Westpac Low Rate Card students get 55 days interest free on their credit purchases and have to pay an annual fee of $59 for the initial year. Students are offered an Interest rate of 13.49% p.a.


Bankwest, the Bank of Western Australia offers the Bankwest Breeze MasterCard as a Student Credit card. According to the terms of the credit card application

  • Students should be at least 18 yrs old and a resident of Australia
  • Students are expected to hold a BankWEst Student Transaction Account.
  • They should be a full-time student at UWA, ECU, Murdoch, Notre Dame, or Curtin.
  • Students should at least be in their 2nd year of study
  • Clear credit history

Bankwest Breeze MasterCard offers an up to 55 days interest free. Card holders are charged for months balance transfers. The annual fee is $59.

Commonwealth Bank

The Commonwealth Bank offers options for TAFE or Full-Time tertiary students. According to the rules of the application process

  • The student should open a streamline account with the Commonwealth Bank and register the necessary details with any branch of the bank
  • Authenticate the full-time student status by showing your student id card or a letter of enrolment.
  • Students need 100 ID points to qualify for an application.

Given below are the 100 points needed for opening an account

Type of Identification
Points value
Passport or birth certificate70
Student ID (with photo)40
Australian Drivers License40
Medicare card25
Other bank credit card, debit card or passbook(only one allowed per bank other than the Commonwealth Bank)25
Other identification documents (e.g. library card, health fund card)25

A special feature of this student credit card is that students don’t have to pay annual credit card fee.


Although no direct student credit card offers exist, students who can pass the St.George Vertigo Visa application requirements can benefit greatly from the lowest interest rate available for online application.

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Student Credit Card Application Procedure

  • Get in touch with the bank and enquire about all the information needed
  • Give them all the necessary details
  • Outline your present financial details
  • Verify the entered details and submit the completed form to the bank
  • When your application has been approved, you will be awarded with a Credit Card.Thereafter a balance transfer facility will be activated for your use.

Important things to consider when applying

During the online application process, the credit card providing bank asks the applicants to provide significant info necessary for the assessment of the applications.

Don’t forget you allow the bank to acquire information pertaining to you from the credit reporting agencies. This includes details of your credit history and credit worthiness. The bank holds all the rights to exchange the provided information to credit reporting agencies, other credit providers, and its referees.

As per the rules put forth by the privacy act of the bank, some of this information is entrusted to a credit-reporting agency. Review your information before you submit. The credit reporting company will include history of bill payments and delays in payments in your credit history. If you accidentally provide incomplete, inaccurate, or outdated information, you might have a problem when you get your credit reports.

The application process would take approximately 20 minutes if done online. You will be instantly informed when the application has been submitted. Take note that banks follow a 35-minute time out session for security purposes. If you happen to leave the application window open for 30 minutes without entering any details it would time out and you will have to start it all over again

Make a sensible decision before selecting your credit card. When you get hold of the credit card, you would have to be extra careful about your finances.

When you finally start using the credit card, ensure that you stay within your credit limit to reserve available credit for emergencies and avoid penalties. When you avoid debts on your student credit card, you will be able to build a good credit history, and this will be a key factor in the future of your credit history and your ability to get a mortgage for a house.

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One Response to How to Successfully Apply for A Student Credit Card

  1. Default Gravatar
    Tang | February 4, 2009

    as an international student who has been here for more than 2 years, is there any credit cards that i m eligible to apply for?

Credit Cards Comparison

Rates last updated October 2nd, 2015
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
NAB Low Rate Credit Card
Low ongoing interest rate on purchases and balance transfers.
0% p.a. for 12 months (reverts to 13.99% p.a.) 4.99% p.a. for 6 months $59 p.a. 21.74% p.a. Go to site More info
Westpac 55 Day Platinum Card - Exclusive Offer
Exclusive Offer to
No annual fee for the first year (and subsequent years) if you spend over $10,000 per annum. Platinum benefits including a platinum concierge service, overseas travel insurance, extended warranty cover and purchase security cover.
0% p.a. for 12 months (reverts to 19.84% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. annual fee for the first year ($90 p.a. thereafter) 21.29% p.a. Go to site More info
HSBC Platinum Credit Card
Earn rewards points plus a balance transfer offer. Access to Platinum benefits including a personal concierge service and VISA Platinum reward program.
19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% p.a. Go to site More info
Citi Rewards Credit Card - Classic Card
Get the chance to earn 1.00 points for every dollar you spend on the first three months (up to 20,000 bonus points). Also enjoy a 0% p.a. on balance transfers for 12 months and up to 55 interest-free days on purchases.
20.99% p.a. 0% p.a. for 12 months $0 p.a. annual fee for the first year ($89 p.a. thereafter) 21.74% p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards 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.

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