Students should consider avoiding taking out a credit card while at university , it has been claimed.
James Falla, director of Thomas Charles, said that choosing not to take out a credit card is "absolutely the right thing to do", as people should look to borrow as "little at possible".
According to Mr Falla, such a strategy "isn't easy", but people ought to plan their regular expenditure and spend "accordingly".
"If you don't you will start to borrow and you don't save to put that money back [that's when you get into difficulty]," he commented.
A recent study conducted by NatWest found that graduates leave university with an average debt of £12,363.
Meanwhile, statistics published by Credit Action revealed that total UK personal debt stood at £1,380 billion at the end of September, with the average consumer owing £4,554 on credit cards , motor and retail finance deals , overdrafts and unsecured personal loans .
News Side
Students warned about credit card risks
Wed, 14 Nov 2007
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