Ulster Bank Student Credit Cards

16 January, 2012

The Ulster Bank student credit cards are available to those students who have an account with this financial institution. The bank, based in the United Kingdom, offers lines of credit to qualified individuals.

Ulster Bank is a financial institution offering personal and business banking, loans and credit cards. The company also offers portfolio management and insurance products. For students, the company’s youth savings account, called URFirst Account, is available to students up to the age of 11. The URMoney account offers stepped-up benefits to those who are 12 to 17 years of age. In order to obtain a credit card, though, you must reach 18 years of age and open a traditional savings or checking account with the company. You can transfer an URMoney account to an adult account at that time.

The Basics

The student credit card from Ulster Bank is a traditional credit card. The average, first time credit user will receive a credit limit of £350. The card does offer several benefits to users. For the most up to date information, do read the card’s terms and conditions because terms can change frequently.

For an average credit user, the account has an 18.9 percent APR, variable.
The interest rate for balance transfers is 18.9 percent APR.
The card does not have an annual fee.

The card offers a loyalty program called the Ulster Bank YourPoints Program. Users will earn one YourPoint for each £1 spent on purchases using the card.

Redeem your earned YourPoints for lifestyle rewards including shopping vouchers, flights, holidays, car hire fees and fine wines. Select from a large assortment of options.

The card offers 56 days of interest-free credit on the purchase you make using the card, if the balance is paid in full. You must make payment on time and have paid the previous month’s balance off in full as well to qualify.

This credit card may or may not offer the best interest rates for students. Compare these features to other lenders to determine if this is the best option for your particular needs.

Qualifications

In order to obtain the Ulster Bank Student MasterCard, you must be at least 18 years of age and meet lending criteria. The lender does look at your specific qualifications, including:

Your income
Your past credit use
Your credit score
Your experience with the company (such as having a previous account)

This information helps the lender to determine if you qualify for an account and what credit limit you qualify for as well. You can apply for the card at any branch location or call. For a faster option, apply for the card at the Ulster Bank website.

Card Protections

The Ulster Bank card also comes with several key protections for card users. The Card Protection Plus (CPP) Program, an optional program, offers several important benefits to protect users.

If you lose your card, or it is stolen, contact the company right away. As soon as you do, the company will cancel the card and replace it.
This program provides protection for travelers, by providing up to a £3000 emergency cash advance for those stranded overseas. This protection also provides up to £3000 to cover hotel costs and up to £5000 to cover lost tickets and travel documents.
Use the Card Protection Plus program to protect all of your cards with this lender, including up to four people living within the same household.

This is not a free program. It costs £29 a year to maintain this protection.

Ulster Bank student credit cards may be a good option for those who are looking to build credit history. Before applying for this card, do take steps to compare several credit card options for students as well as traditional credit card accounts. Determine which offers the lowest fees and the best benefits for the way you wish to use the card.

Credit Cards Plus