- How do SoSmart Money make their money?
- Which products can I compare with SoSmart Money?
- Who are SoSmart Money?
- Will I be contacted by other companies?
Student credit cards are offered because standard credit cards are only available to those with a stable income and decent credit rating. The reason why banks are willing to offer students - this section of the society that has no regular income or credit history to prove their worth - a credit card account is a question of loyalty.
Much like Adidas or Nike will compete to sponsor some wonder kid at the Manchester United academy in the hope that when he does break through to the first team (and the rich list!) he will remember who looked after him as a youngster and stick with them, banks want students (who on average go on to earn £160,000 more than the national average once they have graduated!) to stick with them.
There is the fact that the financial institutions are keen to tap into the earnings potential early to gain loyalty, and then there is also the fact that these institutions are aware that once somebody has joined a bank (whether they feel a sense of loyalty or not) they cannot be bothered, or are at least reluctant, to change.
When you are a student there comes a whole new meaning to the word 'budgeting'; no longer do you only need to worry about beer money and the odd trip to the cinema or shops. When you are a student living away from home you need to account for things like washing up liquid, toilet roll, food and deodorant, not to mention text books and tuition fees.
Student credit cards can be a useful short-term strategy if you are struggling to make ends meet, however, the interest rates tend to be relatively high and so a debit card account with a 0% overdraft facility, or a student loan, could well be a more practical option for the long-term.
However, if used wisely to pay for those necessities while you wait for your monthly wages or a delayed instalment of your student loan to finally arrive in you bank account; a student credit card can prove to be very useful.
But, do not just settle for the one that your current bank offers, look around for the best deal, and depending on if you have got any part time income, you may even be able to find a standard credit card that you meet the requirements for.
Our trained expert advisers have access to the UK’s leading lenders and using their knowledge and skills will place you with the most suitable leader and product for your needs.
So Smart Money are specialists when it comes to mortgage and insurance. We have access to the UK’s leading brokers and using their knowledge and skills they'll place you with the most suitable lender and product for your needs.
Speak to an expert for mortgage advice, life insurance cover, to protect your income, insurance your home or contents and private medical cover.
"Matthew at So Smart found me the best deal for my first Mortgage, he was extremely helpful! I would highly recommend this company!"
"I've been looking to switch mortgages recently to secure a better rate and the guys at So Smart Money helped me do just that."
"My mortgage enquiry was dealt with swiftly and professionally. I would highly recommend So Smart Money to others."
"I've used sosmartmoney a couple of times now, I checked my old mortgage with them and it encouraged me to get a better deal."
Winner of AI Finance awards 2015 for:
Best personal finance comparison site &
Best online price comparison platform