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Student Credit Cards: How to get best credit card for students

  • Highlights

  • Student credit cards are offered to college students only

  • Student credit cards don’t require a proof of income

  • How to apply for student credit card online

  • It helps you build credit score before graduating

Credit cards have changed the way we spend. You can make small to high-value purchases securely and avail emergency loans while earning handsome reward points. Apart from these features, credit card companies also offer other benefits that are customised to suit different spending needs.

A student credit card is one such variant that is tailor-made to suit the needs of college students. This type of credit card allows you to manage your funds and meet expenses in an easy manner. Here’s more about this special type of credit card that can help you develop good financial habits.

Additional Read: How to Choose the right Credit Card

Student Credit Cards: Features & Benefits

  • Student credit cards are easy to qualify for as issuers don’t require you to produce lengthy documentation. Also, you don’t have to produce income proof, which hastens approval.
  • A student credit card helps you build a good credit score before graduating. This way, you can avail credit at competitive terms in the future, provided you manage your credit card well.
  • This type of credit card offers various perks like cashback and discounts that can help you save a lot of money. Further, it also gives handsome reward points that you can redeem for coupons and merchandise on the issuer’s rewards catalogue.
  • Typically, a student credit card has a low credit limit of up to Rs.15,000 as compared to other cards and is valid for 5 years. This keeps you from spending recklessly and falling in a debt trap.
  • You can use a student credit card for various purposes like enrolling for an online course, buying books, refilling fuel, and more.
  • Student credit cards have nil or relatively lower joining fees and low annual charges when compared to other credit cards, which makes it easy for you to maintain and use.
 

How to Get a Student Credit Card?

To qualify for a student credit card, you have to meet the following common eligibility criteria:

  • You should be a college student aged 18 years or above.
  • Some issuers require you to have an education loan with them.
 

Apart from meeting the above eligibility criteria, issuers also require you to produce the following documentation:

  • Birth certificate
  • College or University ID
  • PAN card
  • Residential address proof
  • Passport size photograph
 

Additional Read: Reduce your Credit Card Interest

How to Apply for Student Credit Card online

Apart from applying for a student card directly with the issuer, you can also avail a card in the following ways:

  • You can apply for a credit card against a fixed deposit you have in your name. If the issuer is keen on giving you a credit card against your collateral, then it is likely that they will give you a credit limit equal to or close to the fixed deposit amount.
  • You can ask your parent or any of your family members to get you an add-on card on their existing credit card.
  • You can also apply for a student credit card against your savings bank account, provided you maintain the monthly average balance as specified by the bank.

By using a student credit card diligently during your student life, you will get a hang of managing credit by the time you graduate. Once you get out of college and start your career, upgrade to a feature-packed credit card that not only leverages your finances, but also offers money-saving rewards.

For instance, the Bajaj Finserv RBL Bank SuperCard combines the power of four cards in one to ramp up the advantages of credit cards. Not only can you use this as a credit card and enjoy perks like discounts on movie tickets and event, fuel surcharge waivers, free airport lounge access and more, but also avail interest-free emergency loans and make interest-free ATM withdrawals from the credit limit. In addition to this, you can also convert your purchases of above Rs.3,000 into easy EMIs.

What’s more, you can avail the SuperCard by meeting simple eligibility terms and submitting minimal documentation. Be sure to check out your pre-approved offers to view your tailor-made deal and enjoy instant approval on this credit card to have greater purchase power at your fingertips.

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