ANZ First for Students Credit Card

Roland Bleyer

Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.

As a full time student, you’re probably not thinking too much about what’s going to happen after uni. Buying a car or buying a house may not be on the agenda right now, but when it is – and you want to take out a car loan or home loan – you’ll need to have good credit to get approved.

Luckily, you can start building your credit now. By applying for the ANZ First for Students Credit Card, you can benefit from access to credit, to then build your credit history over time. Is this the right option for you, though? Let’s find out.

What we love...

As the name suggests, the ANZ First for Students Credit Card is for students only, so you’ll need to be a full time student to apply. While many credit cards are harder to get approved for when you’re in full time study and perhaps not earning much, this one is designed with students in mind.

First up, the card has a low minimum income requirement of $15,000 per year, which can be made up of part time work, youth allowance and Austudy. On top of that, the card has a low annual fee of $30, which is waived in the first year if you sign up now.

One of the great things about the ANZ First for Students Credit Card is that not only is it designed to be easier for students to apply for, with an affordable annual fee, it also allows you to learn about dealing with credit, while building your credit history.

As long as you’re smart, and avoid getting into trouble, this card can provide a pathway to other credit products after you finish your studies. Whether that means getting a phone contract, getting a car loan or applying for a mortgage, this card could be a stepping stone towards that.

What’s not so great...

If you’re new to credit cards, it’s a good idea to get into the habit of looking at both the good and bad sides of any potential card. With the ANZ First for Students Credit Card, pay attention to the purchase rate and cash advance rate, as they are relatively high.

As a new cardholder, try not to overspend, and always pay off the balance month-to-month to avoid interest charges. Cash advances are also best avoided, as fees and high interest rates apply.

With this card, there are no flashy features or rewards programs. But, that can help to simplify things while you’re still getting used to having plastic in your wallet. There will be plenty of time for feature-packed cards later down the line, should you decide they’re for you!

Why should you choose this card?

While the ANZ First for Students Credit Card is far from flashy, it does provide you access to credit, while allowing you to build your credit rating. In terms of features, there are some handy extras to enjoy.

These include up to 55 days interest free on purchases, up to three free additional cardholders, and exclusive discounts and benefits provided by Visa Entertainment. You can also benefit from worldwide emergency card replacement, ANZ's Fraud Money Back guarantee, extended warranty, and Purchase Protection Insurance against loss, theft or breakage.

Overall Rating

A starter credit card designed for full time students, offering a low minimum income requirement and no annual fee for the first year.