Students are more likely to pay off the balance of their credit cards than the general population, research has found.

According to UK payments association Apacs, 59 per cent of students between the ages of 16 and 24 always repay the full amount, compared to the 55 per cent national average.

However just 22 per cent of students hold a credit card, as opposed to 64 per cent nationally.

Instead the majority choose to hold a debit card, with nearly three-quarters choosing this form of payment.

And when it comes to spending habits, men aged 16-24 fork out nearly twice as much in restaurants each year (£400) as women (£218).

But women spend an average of £83 in shoe shops annually, compared to just £22 spent by men.

Last week Citizens Advice found that the value of debt through unsecured loans and plastic cards had fallen by four per cent over the last year.

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