Student Credit Cards

Student Credit Cards

Introduction to Student Credit Card

Credit cards are the most popular credit instrument in India. Unlike previous times, people nowadays use credit cards in case of financial emergencies as well as for day-to-day shopping. With this service in demand by the audience, financial institutes provide a variety of credit cards with unique benefits and features.

In fact, to connect with the younger generation and fulfil their monetary needs, financial institutes provide a student credit card as well. Students who either are studying in India or abroad can use the credit card for students to manage their daily expenditures such as buying course-related books, transportation, leisure activities, etc.

Since the up and coming generation is technologically savvy, convenience and quick access to funds is what they look for when applying for student friendly credit cards. Many banking institutes offer the best credit card for students based on their eligibility and preference. Furthermore, credit cards for college students come with affordable interest rates and attractive deals. The student credit card interest rate is established in such a way that they can repay the debt conveniently over time.

Whether the child is planning to pursue higher education in their hometown or away from home, get in touch with a trusted financial provider and check the deals on credit cards students can get. Later, it is the student’s responsibility to use the credit cards for students wisely, as it might affect their credit score.

So, before you go out on the pursuit to get yourself a credit card, make sure that you know everything about student credit cards in India. Let us begin by understanding the student credit card application process.

Student Credit Card Application Process

Much like any other credit card application, you can apply for student credit cards online and offline. The student credit card application, when made offline, can be tedious and time-consuming.

It requires you to visit the financial provider’s branch in person. Meet with a representative who will guide you on how to apply for credit card with them. If you pass the eligibility criteria, and have the necessary documents, fill the application form and you will receive your student credit card in a few days.

On the other hand, you can get credit cards for students online as well. The student credit card apply process, when done online is convenient and quick. Just fill the student credit card online form, upload the supporting documents, and you are done. Keep reading to know how to apply for a student credit card online.

How to Get Student Credit Card Online

Follow the steps below to apply for a student credit card online –

  • Visit the issuer’s website and go to the credit card section

  • Check your eligibility for the student credit card

  • Fill the online credit cards for students application form

  • Upload the supporting documents on the portal

  • After submitting your student credit card application, a representative will get in touch with you for further procedures

  • Upon approval, the issuer will dispatch your credit card instantly

Now that you know how you can apply for a student credit card in India let us discuss the eligibility criteria and documents required during the process.

Eligibility for Student Credit Card

The student credit card eligibility criteria are as follows –

  • The student credit card age limit is 18 years old and above

  • The individual needs to be in college or university to get a student credit card

  • The credit card issuer can ask the parents/guardians of the student to open a fixed deposit account to get a student credit card

  • Some banking institutions make it mandatory to open a savings account with a minimum quarterly balance before issuing a student credit card

  • Some banking institutions only give student credit cards to people who have availed an education loan with them

Documents Required for Student Credit Card

Since the students cannot present any income proof or salary slips, the student credit card documents needed are as follows –

Identity Proof Documents (Submit Any One)

  • PAN card

  • Aadhaar card

  • Passport

  • Voter ID

  • Driving licence

Address Proof Documents (Submit Any One)

  • Passport

  • Voter ID

  • Ration card

  • Driving licence

  • Utility bills of the last three months

Age Proof Documents (Submit Any One)

  • School certificate

  • Birth certificate

  • Passport

  • Voter ID

College/University Enrollment Proof Documents (Submit Any One)

  • College ID

  • Admission slip

  • Study certificate from college/university

With this, students can get a credit card in India in no time. Further, we have shed some light on the features and benefits of student credit cards that you need to know. Having these insights will encourage you to make an informed decision.

Features and Benefits of Student Credit Card

The unique student credit card features are as follows –

  • It comes with a low credit limit so that the students do not overspend and get themselves into debts

  • It comes with a low cash withdrawal limit so that students get to use the funds wisely and in case of emergencies only

  • It comes with a validity of five years

  • It can be converted into a standard credit card once the student finishes his/her education

  • Students can increase the credit limit of the card based on their employment and income status

The benefits of college students having credit cards are as follows –

  • It teaches students to get their finances under control and repaying debts on time from a very young age

  • Prompt repayment of student credit card benefits them by building a good credit score

  • Students earn reward points and discounts on various items

  • There are no fees on applying for a student credit card

  • Also, no charges are applicable in case the student needs a duplicate credit card

The Fees and Card Limit of Student Credit Card

A student credit card is quite an affordable financial instrument for college-going students. As explained earlier, the student credit card has no annual fee. Nevertheless, this depends on the financial institution that issued you the card. So, get in touch with the issuer and check whether they offer no fee student credit card.

Moreover, the student credit card limit is minimum (up to Rs. 15,000), and the card is valid for five years. The limit is set to a minimum so that students do not overspend and get themselves into debt from a young age.

Student Credit Card Rewards

The credit card offers for college students are designed in a way that is beneficial to them and makes managing finances fun and easy. Along with this, the issuers in India also offer some of the best credit card deals for students.

Typically, the student credit card rewards involve cashback and discounts that help students save a fortune. Students can enjoy special discounts on movie tickets and events, fuel surcharge waivers, free airport lounge access, interest-free ATM withdrawals, and more.

The student credit card offers reward points that can be used to redeem coupons and merchandise on the issuer’s reward catalogue.

Student Credit Card Safety, Login & Customer Care

While a credit card is the most convenient instrument that gives you quick access to funds, it needs to be handled carefully, especially if you are a student. The student credit card safety can be attained by following a few simple tips given below –

  • Make sure that you are not sharing the ATM pin or your net banking password with anyone

  • Try to avoid shopping for things from unsecured websites

  • Make sure that you do not share your student credit card number with anyone

In case the card gets stolen or blocked, contact your student credit card customer care and raise a concern immediately.

Frequently Asked Questions

  • ✔️What is a student credit card?

    A credit card that is specially designed for college going students, irrespective of them pursuing their higher education in India or abroad, is called a student credit card.

  • ✔️What is the best credit card for students?

    To choose the best credit card for students, one needs to take into consideration a few factors such as credit limit, issuance fees, annual renewal fees, student credit card interest rate, benefits, features, etc.

  • ✔️How can I get a student credit card?

    You can get a student credit card online as well as offline. The only difference between the two processes is that applying offline requires you to visit the branch in person. Whereas, the student credit card application online can be made anytime, anywhere.

  • ✔️How to get your first credit card?

    You can get your first student credit card by filling the application form and submitting the required documents. Upon verification and approval, the issuer will send the credit card to you within a few days.

  • ✔️Can I get a student credit card without a job?

    Yes. Ideally, student credit cards are for individuals who do not have any income. So, getting a student credit card without a job is easy in India.

  • ✔️How to pay bills using the student credit card?

    Ideally, you can pay your bills using the student credit card only if the biller is available in the list provided by the issuer. Major utility billers include gas, telephone, electricity, insurance, etc. When making the payment for these, select the biller, provide the necessary details, and review the amount to be paid. After this, in the payment option, choose a credit card and pay the bill.

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