Credit card at such a young age? Yes, If you are an Indian student searching for a credit card, you should check the top student credit cards in India. The same laws that enable students in the United States to obtain a credit card also apply in India.
You may believe that a student credit card is just for students who have a job. This is not always true. Another misconception is that student credit cards are only available to those who can afford them. That, however, is incorrect. This article demonstrates that students in India may apply for a credit card.
Which credit cards in India are the best for students?
- 1 Which credit cards in India are the best for students?
- 2 Best Credit Cards for Students in India with No/Bad Credit History
Are you currently enrolled in college? You must have financial needs of your own, correct? Your financial requirements aren’t the same as those of a salaried worker. Getting a credit card could be a fantastic idea for you. As a matter of fact, a student credit card will have different benefits than a regular credit card. Yet, it does have certain advantages of its own. The paperwork requirements are minimal since you don’t have to provide a pay stub or an ITR. Low-interest rates, no annual fees, and reward points are all included in the deal. It is possible to get a student credit card in India even though you have no credit history. As a result of the abundance of credit cards offered by India’s prominent financial institutions, you may be thinking, “Which are the best credit cards for Indian students?” We are here to answer your question.
Student Plus Advantage Card from SBI
It is one of the most excellent credit cards for students in India. It has been exclusively made for clients who have taken up an education loan from the State Bank of India. For being eligible for this credit card, you must have a fixed deposit with SBI in any of their branches; many benefits, such as no annual or renewal fees, come with the credit card; therefore, you’ll surely like it.
If you spent more than Rs. 35,000 in the previous year, you don’t have to pay an annual fee. It is not only possible to earn one reward point for every Rs. 100 spent, but it is also possible to use those same reward points to pay off any outstanding balances.
For purchases between Rs. 500 and Rs. 3,000, you are also eligible for a 2.5 percent reduction in the fuel fee at all Indian petrol stations. In addition, you may purchase train tickets that will be delivered to your door, pay all of your energy bills online, and get 10X Reward Points (RP) on all International spending.
More than 24 million merchants accept the SBI Student Plus Advantage Card in India and overseas. Transferring your existing credit card balance to your own card allows you to benefit from a reduced APR and pay off your debt in a more manageable number of equal monthly installments. When you need to pay off your credit card balance, you’ll have a little more cash in your pocket.
ICICI Bank Student Travel Card
The ICICI Bank Student Travel Card is a godsend if you want to study abroad. You can easily withdraw money from more than 1.5 million MasterCard ATMs with this card. With this card, you can easily track your spending and use it at any MasterCard-enabled establishment. Online or in person, you may use this credit card to pay your application and tuition fees.
A free International Student Identity Card membership will allow you to take advantage of various discounts and travel deals. 131 nations, including India, would have access to the enticing merchant deals and discounts. Benefits such as free travel insurance, lower foreign exchange rates, and other bank alliances are also guaranteed for your convenience.
HDFC ForexPlus Card
Anyone studying abroad and needing money in other currencies may use the HDFC ForexPlus Card. The transaction amount will be deducted straight from the HDFC ForexPlus Card balance, precisely like a credit card.
There are 10 currencies accessible on the card, which may be exchanged into the currency of the country you are presently visiting. Visa and MasterCard-affiliated merchants may accept it without issue. You won’t have to worry about the rates fluctuating in the market rates if you make a transaction in the currency of your card.
If you’re not a client of HDFC bank, you needn’t worry. Just visit an HDFC branch with the necessary documentation to get this card.
HDFC Multicurrency Platinum ForexPlus Chip Card
Yes, that’s correct. The HDFC Multicurrency Platinum ForexPlus Chip Card lets you save up to 23 different currencies, saving you both time and money. This card is ideal for students who often travel to many countries and need to carry 23 foreign currencies on a single credit or debit card. You’ll be completely protected against any future changes in the value of the currency. Also included is Rs. 5 Lakh in insurance coverage in the event of card abuse, accident, or fraud.
Students’ Credit Card Eligibility Requirements
You must be at least 18 years or above to apply for one of these cards in terms of student credit cards. These fundamental eligibility requirements must be met by the students to be eligible to hold these credit cards.
- PAN card
- Residential address proof.
- Birth certificate
- Identity card of the college (undergraduate or postgraduate)
- 2 passport sized colored photographs
- College enrolment proof
BOB Financial Prime Credit Card
One of the most fabulous credit cards for students in India is the BOB Financial Prime Card. You’ll earn a 1% rupee value back (4 points each Rs. 100 spent, 4 points = Rs. 1), which is excellent among the many fixed deposit credit cards. In addition, it offers the lowest minimum deposit amount (Rs. 15,000) and no yearly fees. To put it in another way, if you’re a student, you should get this card to earn rewards on your routine purchases.
Axis Bank Insta Easy Credit Card
All student cards except the Axis Bank Insta Easy Card have a monetary value back of at least one lakh rupees. On domestic purchases (6 points every Rs. 200 spent; 1 point equals Rs. 0.40 in Yatra vouchers), you’ll get 1.2 percent of the amount, and on international purchases (2.4%). (12 points per Rs. 200). In addition, members get a 100-point welcome bonus and a 15% discount on meals at selected establishments. To get the most out of your Yatra voucher benefits, utilize Insta Easy. If you travel often enough.
Kotak Silk Inspire Credit Card
Kotak Mahindra’s Silk Inspire credit card is ideal for students who like shopping for clothing since it offers a generous 5 percent back on such items if you spend Rs. 7,500 in retail each month (max Rs. 500 back per cycle). On a minimum purchase of Rs. 125,000 each half-year, the card offers a 1,000 point bonus every six months (redeemable for 1,000 JPMiles = Rs. 450). You’ll only earn 0.22 percent back on outerwear, which is much below the industry average (1 point for every Rs. 200 spent; 1 point = 1 JPMile = Rs. 0.45).)… Also included is an Rs. 599 joining cost, an Rs. 599 yearly fee and a somewhat expensive minimum fixed deposit (Rs. 50,000). (waived on Rs. 125,000 spent per year). This card is only available to those who reside in an approved city. If you’re a high-spending college student who meets all the criteria, we suggest the Silk Inspire. One of the most significant credit cards for students in India is unquestionably this one.
Best Credit Cards for Students in India with No/Bad Credit History
Nowadays, several banks and credit card firms provide credit cards specifically for students. Credit cards are now available to students via a quick and straightforward application process. These cards may even be obtained by persons with a poor credit history or no history. If you have got a poor or no credit history, you may still get a credit card from one of the numerous companies on the market.
Because of this, they focus their efforts just on these sorts of applicants and guarantee that they can get their hands on a credit card. So, if you’re a college student with no or terrible credit, you need not be concerned; these firms can assist you in applying for credit cards from various institutions.
So if someone asks you, “What are the best credit cards for students in India?” you should be able to provide an answer based on these guidelines. And sure, if you want to use a credit card, speak to your parents about your choices and select the one that works best for you.