As I said, you can pay the monthly bill with a debit card but you can't transfer £500 to your debit card other than by paying the fees for a cash advance. That would be a 3% (£15) fee for the transaction plus 2.075% per month (about £10 per month). However, you couldn't have a £500 cash advance as that would take you over your limit when the fees get added and this would lead to more fees. If you got a £480 cash advance, the money you'd be wasting would be about £14.40 plus £10.27 per month. The minumum repayment on this card is £5 per month or 1% of the balance but, if you paid this each month, you would not cover the interest charges and you would soon be paying penalties for going over your credit limit.

Basically you could have £480 now and then pay £10.27 each and every month for the rest of your life. If you missed a payment date or went over the limit, there would be penalty charges.

It would not be sensible to use a credit card for anything that you will be unable to pay for in full within the next two or three months.

Thanks for your reply,

i do understand all of the above and i take onboard your advice but i sort of need it.

1 - there is a credit limit of £500 as it says at the top.

2 - if i were to money transfer £500 to my debit card what would my months bill be, including any interest?

cheers

1. Usually you can pay a monthly credit card statement with a debit card if it's all within your limits.

2. There isn't £500 to take.

If you are short of money, one of the worst things that you can do is to borrow. Borrowing £100 today will probably mean paying back £120 another day and, if you are short of funds, that will be £20 wasted that you can't afford to waste.

You need to look at your budget and make sure that the money coming in and the money going out pretty much balance. Credit cards can be useful but only if you've got money coming in to cover what you are spending.

Hi,

Im currently thinking of getting the natwest student credit card with a £500 limit and was wondering if somebody could help me with a few questions i have please.

1 - Can you balance transfer the whole balance of £500 from the credit card to my debit card? what would be the interest on it?

2 - if i were to take the full £500 what would be the interest on it monthly and the min repayment?

Here is a link to the card details

http://www.natwest.com/downloads/personal/cc_Student_summary.pdf

cheers