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Students warned about 'convenience of plastic' E-mail
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Wednesday, 31 January 2007
The Union of Students in Ireland (USI) has warned college students to "think twice" about credit cards.

USI is supporting the National Youth Council of Ireland (NYCI) to raise awareness of the risk of credit card debt for young people.

According to the USI, high interest rates are characteristic of some credit cards targeted at students, while the 'convenience of plastic' is easily overstated.

"Credit cards undoubtedly represent the most expensive way for students to manage money and the temptation to overspend is high," said USI President Colm Hamrogue.

Mary Brennan, a spokeswoman for Bank of Ireland said it does not allow students to build up unmanageable debt, as it is not in the interest of their customers or their business.

"Our experience shows that the mature attitude and behaviour of third level students in relation to both credit cards and personal loans is exemplary and they are the least likely customer group to incur any problem with their finances," she said.

As an alternative way to pay for things, USI Welfare Officer Kelly Mackey suggests the use of Laser cards or disposable prepaid credit vouchers, which can be used to pay for goods and services on the Internet, by post and by telephone.


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