Student Credit Cards
As a student you can access special offers from banks which have special features for students, as well as student credit cards for over 18’s. Banks that have credit card offers to tertiary students over 18 include:
- Commonwealth Bank - No annual fee on credit cards with their “Student Options”. They require you to have a Streamline Account (their everyday savings account).
- Westpac - Westpac offers a Student Visa Card with easier application approval requirements for students, such as if you’re only working part time, or are moving frequently. If you don’t fit into either of these categories, another may be more appropriate as the interest rate of 19.45% is relatively high.
- BankWest - Offers a low interest BankWest Lite MasterCard student credit card. It’s offered to tertiary students over 18 who have studied at Western Australia uni for at least 2 years. This offer is open to BankWest Student Account holders only.
Commonwealth Bank and BankWest require that you have a savings account with their bank to qualify for savings. If you currently have a savings account with another bank, you’ll need to consider whether it’s worth switching banks to benefit from these savings.
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These student credit card offers are only recommended for students who are having relatively bad issues with money, residence and work in relation to non-students of their own age. If the student isn’t impeded by any of these issues, they would almost surely benefit more from a regular low interest rate credit card.
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Avoid Credit Card debt but not overspending with the ANZ Visa Debit Card. You can only spend whats in your bank account but you still receive the benefit of the entire VISA network, thus allowing a student to use it like a credit card. Photo thanks to Alexander Redmon from Texas, US.
Comparison of Top 9 Credit Card Offers
| Credit
Card |
Card
Details |
Purchase Rate |
Cash Advance Rate |
Balance
Transfer Rate |
Annual
fee |
Interest
free days |
|
St George Vertigo |
11.89% p.a. on purchases. Winner of Money Magazine’s Award for Cheapest Credit Card. |
11.89%
 |
20.49% |
0% for 6 months |
$45 |
55 |
|
Aussie MasterCard |
0% p.a. balance transfer for 6
months. |
11.99% |
15.99% |
0% for 6 months |
$49 |
55 |
|
Citibank Clear Card |
11.99% p.a. on purchases. |
11.99% |
20.74% |
0% p.a. for 6
months |
$65 |
55 |
|
ANZ Low Rate MasterCard |
0% p.a. balance transfer for 6
months. |
12.99% |
18.24% |
0% for 6 months |
$58 |
55 |
|
St.George Starts Low 12.99% Stays Low Credit Card |
0% p.a. balance transfer for 6
months. |
12.99% |
12.99% |
0% for 6 months |
$59 |
55 |
|
Commonwealth
Bank Low Rate Card |
5.99% p.a. balance transfer for
5 months. |
13.24% |
13.24% |
5.99% for 5 months |
$48 |
55 |
|
ANZ Balance Visa Card |
1 Reward Point for every $1 you repay to your balance. |
13.99% |
20.99% |
0% for 6 months |
$57 |
55 |
|
Citibank BP - MasterCard |
5% off your petrol and and everything
else you buy at BP. 1% off everything else you buy anywhere. |
19.89% |
19.89% |
2.90% for 12 months |
$79 |
55 |
|
GE Money eco MasterCard
|
0% p.a. balance transfer for 6 months. Every dollar spent contributes to reforestation, renewable energy, and other environmental initiatives. |
18.49% |
19.99% |
0% p.a. for 6
months |
$49 |
55 |
8 Responses
Leave a Comment
February 8th, 2008 at 6:52 pm
I want a tertairy student credit card i am no working i am on centrelink payments, no one wants to support me financialy, i have asked for loans and i have been turned down i am all out of options and the government wont pay for a second grant as i have had one before,and the course i did was a flop so how am i suppose to get an education, nothing is free anymore.Please Help Thankyou
February 18th, 2008 at 2:27 pm
Belinda,
Sounds like your in between a rock and a hard place. Which student credit cards have you applied for ? and is there any specific reason why you need credit ? would love to hear your response as i bet there are many students just like you… And I’m always looking to help students.
Andrew.
February 27th, 2008 at 10:59 pm
i’m in the same position too. I am also receiving centelink benefits and it’s very difficult to find anybody willing to help me. I personally do not know anybody with a good credit background which makes it even harder. I’d only need the money to buy myself a decent computer and textbooks. my centrelink allowance really doesn’t cover the cost of textbooks…
March 9th, 2008 at 1:16 pm
does anyone know of a company that will approve of a credit card application if you are only receiving payments by centrelink??
March 17th, 2008 at 8:44 am
Hi guys,
Theres actually a few banks and financial institutions that do student credit cards. Links are below let me know how you all go.
http://www.westpac.com.au/internet/publish.nsf/Content/PBTSYC+Student
or
http://www.apesma.asn.au/services/student_american_express.asp
March 25th, 2008 at 10:53 am
OR… one last place i’ve found is at NAB. they do a tertiary Student package. http://www.nab.com.au/Personal_Finance/0,,9712,00.html
Hope this helps guys.
March 26th, 2008 at 12:23 pm
Or NAB also do a Student personal loan..
http://www.nab.com.au/Personal_Finance/0,,9113,00.html
August 25th, 2008 at 5:56 pm
Forget Westpac - I applied for a $300 Student credit card and they declined. I have a good credit rating and they would not tell me why they declined.Have been with them for 5 years. Not happy Jan.