Barclays Prepares Students For Credit

After several years of unchecked lending to students, and condemnation from debt charities and parents, Barclays took the lead and started to explain the reality of credit cards to students.

Barclaycard revamped its Student Barclaycard website not only to explain the benefits of using a credit card but also offer clear advice for Students on the downsides of debt and advice on borrowing responsibly.

This is a major triumph for parents and debt management charities, who claim the credit cards were handed out so indiscriminately, that many students did not realize they must repay the debt.

Amer Sajed, Managing Director UK Cards said: "Cards can be a lifeline for students managing a tight budget. They can help make the most of your time at university and establish a credit record for the future but only if they are used sensibly. Our new site includes some blunt advice to help our customers make the most of the benefits and avoid the pitfalls."

Barclaycard Student offers cardholders a range of benefits that include discounts on student essentials at Argos and discounts from a range of retailers that include Domino's Pizza, Ticketmaster and Phones4U.

Barclaycard comprises Barclaycard, Sky Card, Thomas Cook and Argos branded credit cards and FIRSTPLUS secured lending, and manages card operations on behalf of Solution Personal Finance.

The annual survey by Push, the UK's leading independent resource for prospective students, found that student debt now tops £4,000 for every year of study. The average of £4,295 owed per student in England 25.5% higher than last year.

Published on October 18, 2007