Credit Card
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
A student has his own financial life which he has to take care of, isn’t it? Be it buying his course books or paying for his exam fees or shopping at a mall, he has to manage his finance efficiently. If you are a student you will understand this easily. You too might be dependent on your father for providing you timely finance. This means you have to carry cash with you all the times to meet your financial needs. Have you ever thought about getting a credit card? If yes then I am sure you must be speculating- can students get credit cards in India?The answer to your question is very simple, yes you can get a credit card. Credit cards which were earlier offered only to financially strong people are now being given to even students. Yes, buddy that’s true! You must be at least 18 years old to hold a credit card in your hand. And I believe your joy will know no bounds when I say a student credit cards comes with various perks.
They not only have a low rate of interest but also carry no joining or annual fees. And the best part is the minimum requirement of documents for availing a credit card. Since you are a student there is no salary criteria imposed on you and thus you don’t have to show any salary slip or IT returns. This is going to be an easy ride for you. You also receive certain reward points when you spend a particular amount which you can redeem later as per your wish. I know you are going to flip over hearing this. Even if you don’t have any credit history to show you can still own a credit card.
Ways through which a student can get a credit card in India
In case you wish to avail the services of a credit card then firstly fill up the application form and submit it to the bank. Now there are two ways which you can get a credit card in India- Let’s have a quick glance at them-
Against a fixed deposit
Just in case you have a fixed deposit in a bank you can contact the same bank to apply for a credit card against your fixed deposit. Securing a credit card through your fixed deposits is much easier and even the terms and conditions are relaxing. The bank will ask to deposit a particular fixed amount and it will take few days to get your account fully operational.
Add on credit cards
Suppose your father or brother already has a credit card to his name, then they can request the bank for an add-on credit card on your behalf. But let me tell you clearly, your father or brother should have a strong credit history or else the bank won’t hesitate to reject the application. The responsibility of repayment for the add-on credit card will lie solely on the parent credit card holder.
Documents required for a student credit card in India
Let’s have a look at the documents you will need in order to get a credit card-
PAN card which is needed by some of the companies
Birth Certificate of the student
Proof of residence
College Identity card
Two passport size photographs
So now that it has been clearly established that students can get a credit card in India, I believe you must be thinking of getting one. Do remember, precise use of credit card can build a strong credit history for you, which can be instrumental in securing a favorable loan interest rate in the future.
Read to Know: Best Credit Cards for Students in India?