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In India, we are now encouraged to go digital and indulge in cashless payments. One such popular way we spend is by using a credit card. A student credit card has emerged as a popular variant of credit cards over the last few years. These student credit cards are designed, especially to meet the needs of university or college students so that they can manage their expenses without delay and develop a habit of handling funds.
Through this post, we aim to guide you on how to apply for a student credit card online. We will also throw light on the various features and benefits of possessing one such credit card for a student.
Check out the list of benefits and features of a student credit card that makes it completely worth it for the budding generation of India:
| Feature | Advantage |
| Card Validity | As compared to 3 years validity of a non-student credit card, a student credit card offers a validity of 5 years from the date of issue |
| Restricted Credit Limit | To prevent students from unlimited spending, there is a lower credit card limit of Rs. 15,000 which is much lower than a non-student credit card |
| Fee Waiver | Usually, student credit cards do not charge any joining fee and offer low annual charges to make it more affordable and convenient for students |
| Special Rewards and Cashbacks | Student credit cards come packed with a bundle of deals and loyalty programs in the form of cashback and special offers on purchases |
| Easy Documentation | Student credit cards are easy to get with easy documentation requirements |
| Free Duplication Card | In case a student credit card gets stolen or misplaced, a duplicate one can be issued free of cost |
| Multiple Uses | Students can use student credit cards for multiple purposes such as buying books, enrolling in a course online, refilling fuel in a vehicle, and so on |
There is not much required as an eligibility criteria to apply for a student credit card. Have a look:
While applying for a student credit card, you must possess the following documents:
Once you have checked your eligibility and collected all the documents to apply for a student credit card, then what next? You must then apply for one such card in any of the following ways:
The procedure for a student credit card apply becomes quite simple, if done online. Here are the steps to follow when applying for the same online:
The options to avail of a student credit card in India are limited. So, here is the list of best credit cards for 18 years olds:
Conclusion
The information shared in this article will help you understand the procedure of applying for a student credit card in India. We recommend you check the features, fees, and interest rates yourself by visiting the website of the issuer or visiting the bank while applying for a particular student credit card.
Browse PayBima Blogs to read interesting posts related to Health Insurance, Car Insurance, Bike Insurance, Term Life Insurance, and Investment section. You can visit PayBima to Buy Insurance Online.
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The top-rated student credit card in India at present is from the State Bank of India called SBI Student Plus Advantage Credit Card.
No, a student in India cannot hold more than one student credit card because, in that case, he/ she will not have an active credit card score.
Student credit cards in India come with a limit of Rs. 15,000 to restrict overspending by students.
Yes, it is wise to possess a student credit card because it comes with many perks such as cash backs, and helps to save a lot of money. With a student credit card, a student can save good credit before completing graduation and can avail it for future expenses.
There are two main pros of a student credit card. Firstly, it is easily approved. Secondly, there are better rewards, and interest rates with low fees compared to a no-student credit card.
PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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