A new report has shown that around one third of students in the UK have a credit card.
The research from Halifax indicated that 37 per cent of students use a credit card to help them manage their finances, with the average balance currently standing at £219.
Interestingly, it was shown that students in Scotland were most likely to use credit cards.
However, the research highlighted the fact that students were still far more likely to have a loan (80 per cent) or an overdraft (64 per cent) than a credit card.
What's more, it was found that students were more likely to use cards for their functionality and the added protection, rather than as a source of debt.
Recently, Virgin Money suggested that parents might need to upgrade their home insurance policy to cover the expensive items that graduates typically return from university with.
The report showed that economic concerns meant that more graduates might live at home in the coming months and that they will typically return from their studies with items such as laptops, iPods, TVs and games consoles.
Grant Bather, a spokesperson at Virgin Money, said: "Many students will have built up quite a collection of valuable items over the course of their degree. While some may have little monetary value, others such as laptops can be expensive and should be properly insured."
