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Graduates 'should consider 0% credit cards when working'

Graduates should switch some of their student debt to a 0% credit card once they start working, according to advice from a financial comparison website.

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22 July 2009

Graduates 'should consider 0% credit cards when working'”

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According to Moneynet.co.uk, graduates should try to pay off their most expensive debts first.

Once they have found jobs, people who have just left university should give themselves six months to start to create a good credit rating and then apply for a 0% credit card to transfer some of their debt.

The website suggests the Virgin Money MasterCard, since it is currently offering 0% balance transfers for 16 months subject to a 2.98% transfer fee.

Virgin Money credit cards come in Virgin red, Cool black and Pretty pink, and offer 16.6% APR (variable).

The credit cards also offer 0% on purchases for three months from the date on which the account is opened.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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