Average credit card debt for undergraduates is £220

28 August 2008

Halifax survey reveals women owe more than men

A survey by the Halifax has revealed that undergraduate students owe an average of £220 on credit cards.

The survey also showed that around 37% of university students have a credit card although this figure is half that of the 80% of students who have a loan.

According to the survey, 64% of undergraduates have an overdraft.

Another revelation from the survey is that women owe more on their credit cards than men, where female students owe an average of £255.50 but their male counterparts owe £173.20.

Students studying at universities situated in eastern regions owe the most on their credit cards with an average balance of £363.70, closely followed by students in the couth-east with credit card debt of £360.60.

Undergraduates in the south west have the least credit card debt at an average figure of £125.

Click the link to compare student credit cards