Are you a college going student? You must have your own financial requirements, right? The financial needs of yours wouldn’t match with that of a working professional. Have you thought of getting a credit card? If yes then you should know that the features of a student credit card will differ from that of a normal credit card. However, it comes with benefits of its own. There isn’t much of documentation required since you don’t have to show salary slip or ITR.
You also enjoy a low-interest rate, zero annual fees, and also earn reward points when you spend a particular amount. Even if you don’t have a credit history you will still get a student credit card in India. With so many leading banks offering credit cards you must be thinking- ‘What are the best credit cards for students in India?’. WishFin is here to put an end to your query.
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SBI Student Plus Advantage Card
- This credit card has been designed solely for the customers who have availed State Bank of India’s education loan. To avail this credit card you need to have a fixed deposit in any branch of SBI. The credit card offers you many privileges like zero annual or renewal fee which is bound to appeal you. No annual fee is charged if you make total purchases of more than Rs. 35,000 in the previous year. You not only earn one reward point for every Rs. 100 you spend but you can use the same reward points to pay off your outstanding balance.
- You are also entitled to a 2.5% fuel surcharge waiver across all the petrol pumps in India if you buy petrol worth Rs. 500 to Rs. 3,000. Apart from this, you can book railway tickets which will be delivered at your doorstep, pay all your utility bills online and enjoy 10X Reward Points (RP) on all the International spends.
- You can use the SBI Student Plus Advantage Card in both India and abroad in more than 24 million outlets. You get the provision to transfer the remaining balance of another credit card to your credit card and then get a lower interest rate and pay off the dues in EMIs. This will ensure that you save some money when you pay the credit card dues.
Features of SBI Student Plus Advantage Card
- 5% Value Back on Departmental and Grocery spends
- Accelerated Rewards
- Ready Cash
- Worldwide Acceptance
- Add-on Cards
- Online Booking of Railway Tickets
- Utility Bill Payment Facility
- Balance Transfer on EMI
- Easy Money
ICICI Bank Student Travel Card
- ICICI Bank Student Travel Card is a blessing in disguise for you if you wish to study in abroad. You can use this credit card to pay your application and university fees either online or through a physical swipe. The card is very convenient to use since it allows you to manage your living expenses and is accepted at all outlets that take a MasterCard. You can withdraw cash from over 1.5 million MasterCard ATMs through this card.
- You are entitled to an International Student Identity Card free membership which will give you access to different discount benefits along with exciting destination offers. The tempting merchant offers and discounts will be available in 131 countries including India.You are also bound to get benefits from a travel insurance, advantageous forex rates, and other alliance offers from the bank.
Features of ICICI Bank Student Travel Card
- Convenient and safe to use
- Attractive merchant discounts & offers in India and 130 countries and 1,20,000 merchant locations
- Preferential Forex rates
- Highly rewarding
- Alliance offers from ICICI Bank
- Allows online account management features such as Monthly e-statement
- Can use this card for withdrawal of cash from more than 1.5 million MasterCard ATMs
- Membership of International Student Identity Card (ISIC)
- Destination offers from your membership
- Easy replacement with Primary Card
- Comprehensive Travel Insurance
HDFC ForexPlus Card
- HDFC ForexPlus Card is tailor made for any student who studies abroad and needs finance in different currencies. This card works just like a credit card, the transaction amount will be debited from the HDFC ForexPlus Card balance directly.
- The card is available in ten currencies which are accepted all over the world and thus you can change them into the currency of the nation you are currently in. It has acceptability in all merchant outlets which are affiliated to Visa or MasterCard. When you carry out any transaction in the card currency you won’t suffer due to the swinging market rates.
- In case you’re not a HDFC bank customer you need not worry. You still can avail this card, all you need to do is visit your nearest HDFC branch with the required documents.
HDFC Multicurrency Platinum ForexPlus Chip Card
- This card is simply perfect for students who have multi- destination traveling needs and want to carry 23 currencies on one single card. Yes, you heard it right. You can keep 23 foreign currencies in your HDFC Multicurrency Platinum ForexPlus Chip Card, thereby saving your money and time. This provides you complete protection against any kind of foreign exchange rate fluctuation in the near future. You also receive an insurance cover of Rs. 5 Lakh for any kind of misuse of card, accident or fraud.
Eligibility Criteria for Credit Cards for Students
Well the minimum age limit required to get these student credit cards is 18 years. The students should fulfill this basic eligibility criteria to own these credit cards.
- PAN card (required by few companies)
- Birth certificate
- Residential address proof
- Identity card of the college (undergraduate or postgraduate)
- College enrolment proof
- 2 passport sized colored photographs
Best Credit Cards for Students with No/Bad Credit History
These days, many credit card companies have started offering the best credit cards for students also. Yes, now students can also avail the credit cards by following an easy and simple procedure. In fact, those who are having bad or no credit history can also avail these cards with the help of issuers. Yes, there are many credit card providers available in the market that allow you to avail the card even if you are having low or bad credit history. In fact, they work for such types of applicants only, and ensure that they can avail the card instead of all the odds. So, if you are a student who is having no or bad credit history, nothing to worry, you can avail the credit cards of different banks with the help of these providers.
So I hope the next time someone asks you -What are the best credit cards for students in India, you will have the answer on your tips. And yes if you wish to avail the services of a credit card, talk to your parents and choose the one which suits you the best.
Frequently Asked Questions
1. Can I Apply for a Student Credit Card with no Credit?
Yes, you can apply for the Student Credit Card with no credit. These credit cards are issued against a fixed deposit you have with the bank. Therefore, you will not need a credit score to apply for credit cards for students.
2. Can college students apply for a credit card?
Yes, college students can apply for a credit card. But they should have a fixed deposit with the bank in their name. The college student can also apply for a credit card if they plan to study abroad and enjoy various benefits.
3. What is the minimum age to apply for the Student Credit Card?
The minimum age to apply for a student credit card is 18 years. You can get an add-on card if you are below 18 years but for the credit card for students, you will need a minimum age of 18 years.
4. What is the minimum income needed to apply for Credit Cards for students?
You will not need any income to apply for the credit cards for students. These credit cards are issued against fixed deposits so you will not need any income to apply for them.
5. How to Apply for a Student Credit Card?
You can either contact the respective bank whose credit card you are willing to apply or you can apply for it on this page. You can click on the Apply link and provide your basic details. Our representative will call you and discuss the various options available for student credit cards.
6. What are the documents needed for the credit card for students?
You will have to submit the following documents to apply for the student credit card:-
- PAN Card
- Birth Certificate
- College Enrollment Proof
- Residential Address Proof
- College Identity Card
- Passport Size Photographs
7. Can I use the Student Credit Card abroad?
Yes, you can use the Student Credit Card abroad. There are some banking institutions that issue credit cards for students for traveling and studying abroad. You can apply for those credit cards and use them abroad.
8. How can I make a Student Credit Card Login?
You can make the Student Credit Card Login by visiting the respective official website of the issuer. You will have to provide your credentials and make a successful login into your Student Credit Card Account.
9. How to check the Student Credit Card Status?
You can check the status of the Student Credit card by making a login to the respective official website of the issuer. On the other hand, you can also check the student credit card status through the Application Number you have submitted for the card.
10. Can a Student apply for multiple credit cards?
No, a student cannot apply for multiple credit cards. These cards are given against fixed deposits so you will only get one credit card against the deposit.