Student credit cards, as the name suggests, are specifically designed for college students and recent graduates. Being a student, one cannot afford fancy credit cards with high joining fees and monthly income criteria. With the help of these credit cards, students can easily make up for any financial needs they might have while rewarding themselves. Applying for a credit card as a student is often more accessible than the typical credit card application process, as there is typically less documentation required as they are not expected to have sources of income. Some students may even opt for Secured Credit Cards, which are supported by a Fixed Deposit, while others may choose to obtain an add-on credit card from their parents or other family members.
Whichever credit card you choose, remember to clear your dues on time. It’s important to use your credit cards wisely, as all of this affects your credit score. Continue reading to find answers to all your queries regarding credit cards for beginners.
Most Popular Student Credit Cards
From SBI to Axis Bank, there are a lot of banks and other financial institutions that offer credit cards for students out there. Young people, students and first-time cardholders will find the below most helpful as most of these credit cards are lifetime-free and offer the most benefits without any costs.
Best Suited For
Compare Features of Top Student Credit Cards
As a student, it’s crucial to consider various features when choosing a credit card. These include joining fees, rewards for dining and movies, reward/cashback rates and redemption fees. Keeping these in mind will help them to determine their long-term savings.
|Credit Cards||Joining Fees||Movie/Dining||Rewards||Rewards Redemption Fee|
|IDFC FIRST WoW Credit Card||Lifetime Free||20% Discount at 1500+ Restaurants||Earn 4 Reward Points on ₹150 Spent||₹99|
|IDFC FIRST Millennia Credit Card||Lifetime Free||
|AU Bank LIT Credit Card||Lifetime Free||5% Cashback on Dining||1 Reward Point on ₹100 Spent on Retail Spends.||None|
|Amazon Pay ICICI Bank Credit Card||Lifetime Free||15% Discount on Dining Bills at Restaurants in the Culinary Treats Program.||
|Kotak 811 Credit Card||Lifetime Free||4 PVR Tickets on Spending ₹75,000 in a Year.||
|Bank of Baroda Easy Credit Card||Lifetime Free (Limited Time Offer)||N/A||
|Flipkart Axis Bank Credit Card||₹500 + GST||Up to 20% off at Partner Restaurants of Axis Bank’s Exclusive Dining Delights Program.||
|HDFC Bank Freedom Credit Card||₹500 + GST||Up to 20% off Via Swiggy Dineout.||
|Axis Bank MY ZONE Credit Card||₹500 + GST||Get BOGO Deals on Movie Tickets Through Paytm Movies, Receive a 15% Discount at Partner Restaurants, & Discounts on Swiggy.||4 EDGE Points for Every ₹200 Spent.||None|
|SBI SimplySAVE Credit Card||₹499 + GST||10X Reward Points on Movie and Dining Spends.||1 Reward Point for ₹150 Spent.||₹99|
Why Students Should Opt for Credit Cards?
There are many reasons why college students or youngsters who recently turned 18 years old should opt for credit cards. Here are a few of them.
- Begin your credit journey
Credit cards are one of the easiest and most significant ways to begin your credit journey. Today, what seems like a simple task of making bill payments on time will help you get a lower rate of interest tomorrow.
- Lower interest rates
Student credit cards have a lower interest rate than our daily use credit cards.
- Managing you finances
A credit card would empower students to be financially independent and teach them how to manage their own finances.
- Earn great rewards
Students can earn great cashback and discounts with a credit card. Many of the credit cards also provide dining and movie benefits.
- Make emergency payments
With a student credit card, you can tackle sudden financial emergencies.
What are the Requirements for Student Credit Cards?
Here are some of the documents you would need for applying for a student credit card in India-
- 18 or above in age,
- PAN Card (Permanent Account Number),
- Address Proof (Aadhar Card),
- College/University Identity Card,
- Birth Certificate.
Best Student Credit Cards in India With No/Low Income
Take a look at detailed information about some of the best credit cards in India.
IDFC FIRST WoW Credit Card
This card has no joining or renewal fees, making it a lifetime-free card from the start. The Wow Card offers great benefits and a reward rate of 4X Reward Points for every Rs. 150 spent. If you are opting for the Secured IDFC FIRST WoW Credit Card, then you shall receive the 100% credit limit of the amount of your Fixed Deposit.
IDFC FIRST Millennia Credit Card
If you’re seeking an entry-level credit card, the FIRST Millennia credit card from IDFC is a great option. This rewards-based card has a solid rewards program, offering up to 10x Non-Expiring Reward points that can be redeemed at any time. It provides reward points for both online and offline spending. Plus, this card provides additional benefits for students as it offers complimentary Railway Lounge Access four times per quarter.
AU Bank LIT Credit Card
AU Bank LIT Credit Card is one of the credit cards which would be especially appealing to youngsters as it is one of the most customizable cards in India. This card provides excellent opportunities to earn reward points. You can earn 1 reward point for every Rs. 100 you spend on retail purchases, as well as 10X or 5X, accelerated reward points on the feature of your choice. Additionally, the card provides cashback benefits on the selected feature. Furthermore, you can enjoy free memberships to premium OTT platforms such as Zee5, Amazon Prime, and more.
Amazon Pay ICICI Bank Credit Card
The Amazon Pay ICICI Bank Credit Card is a credit card jointly launched by ICICI Bank and Amazon India. It quickly gained popularity among online shoppers in India. This credit card is highly recommended for Amazon shoppers and Prime members and is considered one of the best credit cards for shopping in India. Students can benefit from this card by using it for their online essential purchases and receiving cashback. This credit card is free for life and is particularly suitable for students.
Flipkart Axis Bank Credit Card
The Flipkart Axis Bank Credit Card is one of the most popular cashback credit cards in India. Students prefer this card as it provides high cashback for purchases made on Flipkart. With this card, you can even get cashback on partner brands such as Swiggy and Uber.
HDFC Bank Freedom Credit Card
This credit card is perfect for youngsters looking to begin their credit card journey. You will get a reasonable reward rate with this card and additional rewards at partner brands like BookMyShow, Oyo and BigBasket. With a minimal monthly income of Rs. 12,000, you will be eligible for this card. So whether working part-time or just beginning out as an intern, you can easily apply for this card.
Axis Bank MY ZONE Credit Card
The My Zone Credit Card from Axis Bank is an excellent option for those looking for an entry-level credit card. Despite its annual fee, the card offers many value-added benefits, such as movie and dining deals, free access to domestic airport lounges, and more. When it comes to earning rewards, you receive 4 EDGE Points for every Rs. 200 spent with the card, where 1 Edge Reward equals Re. 0.20. Additionally, Paytm Movies offers a monthly buy-one-get-one-free offer on movie tickets. Axis Bank also provides customers with up to 15% off up to Rs. 500 on dining with this credit card, keeping their dining needs in mind. Furthermore, you will receive complimentary access to domestic airport lounges every quarter in addition to all of these advantages.
SBI SimplySAVE Credit Card
The SBI SimplySAVE credit card is an excellent option for those who are starting their credit journey. It charges an annual fee of Rs. 499 and provides a welcome bonus of 2000 reward points. With this card, you can earn more reward points on groceries, movies, and departmental store purchases, which can help students save money on everyday expenses.
Bank of Baroda Easy Credit Card
If you’re a student seeking a credit card with low joining and renewal fees, look no further than the Bank of Baroda Easy Credit Card. This card has zero joining and renewal fees, making it an excellent option for everyday spending. You can earn reward points by using this card to make purchases, such as five reward points for every Rs. 100 spent on movies, groceries, and department stores. Additionally, you’ll receive a 0.5% cash-back on your card bill payments. Plus, if you lose your card, this card provides zero liability protection.
Can Students Get Credit Cards in India?
Yes, students can be issued a credit card in India. Many card issuers provide credit cards to students in India. Some of these cards are backed by a Fixed Deposit, while some might be given on the basis of savings accounts. Students can easily get a credit card with a nominal credit limit and begin their credit journey.
How Can Students Apply for Credit Cards Online in India?
After gaining an understanding of student credit cards, the next step is to find out how to apply for a student credit card in India. Fortunately, with the assistance of Card Insider, the process is simple. Our platform allows you to not only compare credit cards in India but also apply for them and take advantage of exclusive offers. Here is how you can apply for a student credit card.
Step 1– Keep your documents handy for a fast and smooth process,
Step 2– Choose your preferred student credit card,
Step 3– Click on the “Apply Now” button for the card of your choosing,
Step 4– Fill in your details,
Step 5– Wait for confirmation of acceptance of the application.
Government-Issued Student Credit Cards
Here are a few of the government-issued student credit cards of India.
West Bengal Student Credit Card
The state of West Bengal has implemented credit cards for students in the state. This would help students pursue higher, graduate, undergraduate and secondary education easily and quickly without facing a shortage of funds. With this credit card, students can easily take a loan of up to Rs. 10 lakhs at an annual rate of 4%. The repayment term is 15 years, and the maximum age for applicants is set at 40. Only residents of West Bengal for ten years or more can apply for this card.
Bihar Student Credit Card (BSCC)
The state government of Bihar issues these credit cards. These come up with a limit of 4 lakhs at an annual interest of 4%. Girl children, transgenders and disabled children just have to repay at a rate of 1%. Students can avail of these loans to further their education across technical, polytechnical and general fields.
Who Can Apply for a Bihar Student Credit Card?
You must complete the following criteria to be eligible for this student credit card-
- A resident of Bihar,
- Must have completed the 12th standard,
- Must have Aadhar Card and PAN Card,
- Minimum age of 25 years.
These were the range of credit cards which are most suited for students and youngsters in India. It is highly advisable for individuals to have a credit card because they offer many benefits. However, it is crucial to make financially responsible decisions when using one. Primarily, students should use credit cards responsibly. How you begin your credit journey will later determine many factors in your life, such as taking on loans. Whether opting for a lifetime free credit card or one with a fee, it’s essential to pay your bills on time and use it responsibly.
Tell us what are your thoughts on student credit cards in India. Are you a student yourself? Tell us which card appealed to you the most or if you are already using one.
You can choose from a large variety of credit cards available for students in India from the above-given list. These credit cards offer benefits at either zero joining charges or a minimal fee.
Apply for a student credit card with Card Insider. Our platform provides all the necessary information and fees for credit cards in India, enabling informed decision-making for young students.
Yes, with many student credit cards, you can easily turn your purchases into EMIs.
Yes, you can get a credit card without any monthly income. You can choose a secured credit card, which will be linked to your fixed deposit.
Yes, many card issuers provide students with a credit card. These cards come at minimal fees and provide some benefits to students.
You have to be at least 18 years old for applying and obtaining a student credit card in India.