Financial Services > Credit Cards > Student Debt Cards
A student debt card is often seen as ‘the last possible option’. In fact there are only a few companies that offer them, as they will usually offer you one of their standard cards, minus any special promotions - which are pretty much what a student debt card can provide.
Interest rates are usually low on purchases and money can be withdrawn at the same interest rate, but beware of charges that may apply for this service (roughly 2.5% handling fee). A few incentives are usually included such as a free text messaging service when a payment is due, plus they don't charge you a fee for going over the credit limit accidentally
If you feel that you need to apply for a student debt card as a last resort, then make sure it is used for the right purpose, for example if the card is a cashback card, only use it if you're going to pay it off within a month, or, if it's a balance transfer card, only use it for balance transfers. Failure to do so will probably result in unfavourable interest rates and contract conditions.