Best Credit Cards for Students in India

For students, college is the first step towards independence in their educational life. It is a mark of responsibility and personal growth. A credit card can greatly assist them in this journey of independence. Designed specifically for their distinct needs and spending habits, these credit cards go beyond mere transactions. Let’s see what a student credit card can provide.

What is a Student’s Credit Card?

A student’s credit card is exactly what its name suggests – a credit card for students studying in universities or colleges. These credit cards serve the main purpose of helping students build credit early in life. They typically come with lower credit limits and fewer fees, making them a safer option for young individuals who may not have much experience managing credit. Student credit cards often include perks such as rewards on everyday purchases, cashback offers, and discounts tailored to student needs. Additionally, student credit cards often require less stringent credit history requirements, making them accessible to those who are just starting to establish their financial independence.

Best Credit Cards for Students in India

We have gathered a list of some of the best credit cards for students in India, including information on their annual and joining fees, along with the best-suited purpose for these cards.

Below is a list of the top features and benefits of the best student credit cards:

1. IDFC FIRST WoW Credit Card

   • Earn 4X reward points for every ₹150 spent
   • Benefit from a credit limit equal to at least 100% of your FD value
   • Receive a 1% waiver on fuel surcharges

2. ICICI Bank Student Forex Prepaid Card

   • Tailored for students who love to travel
   • Offers discounts on flights, hotel bookings, and travel packages
   • Earns reward points on all purchases, redeemable for travel discounts or merchandise
   • Comes with complimentary international travel insurance and no annual fees
   • Option for a contactless version for hassle-free transactions

3. AU Bank LIT Credit Card

   • Offers great opportunities to earn reward points, with 1 point for every ₹100 spent on retail purchases
   • Provides 10X or 5X accelerated reward points on selected features
   • Includes cashback benefits on chosen features
   • Enjoy free memberships to premium OTT platforms like Zee5, Amazon Prime, and more

4. Kotak 811 #DreamDifferent Credit Card

   • Welcome Bonus of 500 reward points on spending ₹5,000 in the first 45 days
   • Earn 1 reward point for every ₹100 spent across all categories except fuel, cash withdrawals, and railways
   • 2X rewards on online purchases
   • Withdraw up to 90% of your credit limit
   • Interest-free cash withdrawal for up to 45 days
   • Low interest rate of 2.99% per month
   • Get ₹750 cashback or 4 PVR Movie Tickets on annual spends of ₹75,000
   • 1% fuel surcharge waiver on transactions between ₹500 and ₹3,000
   • Up to 2.5% railway surcharge waiver when booking tickets through IRCTC online or at booking counters
   • Lost Card Liability Cover of ₹50,000 against unauthorised usage up to 7 days prior

5. SBI Student Plus Advantage Card

   • The SBI Student Plus Advantage Card is ideal for students looking to manage their expenses wisely
   • Offers cashback on purchases at department stores, supermarkets, and other retail outlets
   • Earns reward points on all other purchases, redeemable for gift vouchers or cashback
   • No annual fees and an interest-free period of up to 55 days
   • Includes a free accidental death insurance cover of up to ₹20 lakh

6. Bank of Baroda Financial Prime Card

   • The BOB Financial Prime Card gives four reward points for every ₹100 spent
   • This is significantly higher than other credit cards offered on fixed deposits
   • The Prime Card has no annual fees
   • The minimum fixed deposit amount is only ₹15,000

7. OneCard Credit Card

   • Experience a card with no joining fee, annual fee, or redemption fee
   • Get 5X rewards on the top 2 spend categories of the month
   • Earn fractional reward points on all spending

8. Axis Bank Insta Easy Credit Card

   • The Axis Bank Insta Easy Credit Card is a great choice for students looking to manage their finances responsibly
   • Offers a credit limit of up to ₹20,000 and is simple to apply for
   • Provides discounts on dining and movie tickets and rewards points on all other purchases
   • No annual fees and an interest-free period of up to 50 days
   • Option to choose a contactless version for hassle-free transactions

Benefits of Getting a Student Credit Card

In the modern financial landscape, credit cards have become an essential tool to manage finances. When a student gets a credit card at a young age, they learn how to manage their finances and even the importance of timely repayments. Apart from this, there are several other prime benefits of a student credit card, such as:

1. Financial Independence

   Credit cards for students promote financial independence. They enable students to handle their expenses—whether it’s tuition fees, accommodation costs, or personal purchases—without constant dependence on their parents or guardians. This experience helps cultivate a sense of responsibility and financial savvy from an early age.

2. Emergency Financial Aid

   A student credit card can be valuable for handling unexpected financial needs, such as sudden school fees or personal emergencies. It provides students with a quick solution to urgent expenses, allowing them to address immediate needs without unnecessary complications.

3. Credit History

   Using a credit card early helps students establish a solid credit history. This foundation proves crucial in the future when seeking loans, renting apartments, or even applying for certain jobs. A strong credit score can significantly impact financial opportunities and open many doors.

4. Reward Points

   Student credit cards are designed to acknowledge the value of their everyday spending by offering rewards. Whether it’s a cup of coffee or a course book, every purchase can earn points. These points can be redeemed later, providing real benefits from their expenditures.

5. Educational Discounts

   These cards are tailored for students and typically offer discounts on textbooks, online courses, and software. Providing these perks makes crucial academic resources more affordable and easier to obtain.

6. Repayment Flexibility

   Recognising that students have diverse financial circumstances, many credit card issuers provide flexible repayment options. By considering the most suitable card for students, individuals can choose a repayment plan that aligns with their income, whether from part-time work or allowances.

7. Special Offers and Deals

   Apart from discounts and deals on educational materials, student credit cards also offer special deals on other expenses such as dining, travel, and shopping. While not all credit cards have this 3-in-1 facility, there are some, like Jupiter’s Edge CSB Bank RuPay Credit Card. You can switch between dining, travelling, and shopping with one card!

What are the Eligibility & Document Requirements for Student Credit Cards?

To get a student credit card, you should be at least 18 or above in age. Below are the document requirements for a student credit card:

• PAN Card (Permanent Account Number)
• Address Proof (Aadhaar Card)
• College/University Identity Card
• Birth Certificate

How Can Students Get Credit Cards in India?

The procedure for applying for a student credit card varies based on the type you’re interested in. Here’s a breakdown:

• Add-on Card: If you’re 18 or older, you can request an add-on card through a family member. The application is straightforward and typically requires only basic Know Your Customer (KYC) documentation.
• Secured Credit Card: To obtain a secured credit card, you’ll need to establish a fixed deposit account with a bank. If you already have such an account, simply ask your bank to issue a secured credit card using your deposit as collateral.
• Credit Card Linked to Student Loan: Some banks offer student credit cards tied to student loans. If this option is available, you can apply for a credit card based on your existing student loan.

Want a credit card that fits all your needs?

Find your perfect match with our Edge CSB Bank RuPay Credit Card on Jupiter

Apply Now!

Frequently Asked Questions (FAQs)