Barclays Re-Launch UK Barclaycard Student
The first week of September saw new and old students return to their study programmes and also saw Barclays re-launch its popular Barclaycard Student credit card.
With UK students facing ever increasing student loans to cover the cost of their university studies, the re-launched Barclaycard Student credit card comes with a host of promotional benefits aimed to help students manage their student credit in a financially sensible manner. For those UK students electing to open a Barclaycard Student account, Barclaycard will automatically sanction a credit card limit of £600, on which the student will not be charged any fees if they inadvertently go over their limit at any time and on which the annual percentage rate (APR) has been set at 14.9%. Students wishing to use their Barclaycard Student account to make cash withdrawals should note, however, that Barclaycard’s standard APR will apply, as will its standard cash-point withdrawal fees (minimum fee of £2.50 or 2.5%, whichever is the higher).
Minimum monthly repayments on the Barclaycard Student credit cards will be set at 5%, but Barclaycard will do all they can to remind student cardholders of when they need to make these minimum monthly repayments by sending them an text message that a payment is due.
Additional student related discounts, such as 20% off selected goods at UK retail giant Argos and a special exclusive offer of a Dell notebook at £360, repayable over 12 months, will also be offered to UK students who qualify for the Barclaycard Student account.
James Le Brocq, Head of Barclaycard UK Credit Cards division, said that Barclaycard “…have tried to create a card which will help students get the most out of university life but recognizes that there are times when finances will be under pressure.” “By keeping credit limits sensible, reducing charges and introducing features like text reminders, students can build a credit history which will prove useful throughout university and beyond.”
Among parents more familiar with the Barclaycard Student account during their time at university, Barclays’ decision to re-launch this popular and useful credit tool will be a welcome relief as it not only provides student with a manageable level of credit, but also provides the parents with the comfort of knowing that their children have access to an emergency source of money in times of need: something they’re well used to and a friend many of them are well acquainted with.
Richard Smith
11th September 2006
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