Best Credit Cards for College Students

Created on 26 Aug 2023

Wraps up in 6 Min

Read by 1.5k people

Updated on 29 Nov 2023

College is a time of gaining knowledge, exploring, and getting to know yourself. But, at the same time, it's also a time of spending, budgeting, and handling your own budget. Whether you want to pay for tuition, books, tours, or leisure, having a credit card can be a convenient and profitable manner to do so. But, as fingers are not the same, similarly, not all credit cards have equal value. Some offer better cashback, some offer lower fees, while others offer travel benefits, and so on. So, how do you pick out the best credit card for your needs and wants?

Relax! We have got you covered, just take a cup of coffee, sit back and read this blog, where we will review some of the best credit cards for college students in India based totally on their features, eligibility, charges, and offers. We will even give you a few tips on how to use your credit card wisely and responsibly. So let's get started!

Benefits of Having a Credit Card as a College Student

Having a credit card as a college student can have several advantages, such as:

Best Credit Cards for College Students in India

Here are some of the best credit cards for college students in India that you can consider:

1. IDFC FIRST Bank Wow Credit Card

The IDFC FIRST Bank Wow Credit Card is a secured credit card that is issued against a fixed deposit. This means that you don't need any income proof or credit history to get this card. You just need to open a fixed deposit account with IDFC FIRST Bank with a minimum amount of ₹2,000 and get a credit limit of up to 90% of your deposit amount.

Features

Welcome Bonus

Get 5% cashback up to ₹1,000 on the first EMI transaction within 90 days of card activation.

Fuel Surcharge Waiver 

Get a 1% fuel surcharge waiver, with maximum benefits capped at ₹200 per month.

Dining Benefits

Get up to 20% discount on dining at over 1500+ restaurants

Insurance Benefits

  • Personal Accident cover: ₹2,00,000
  • Card Liability Cover:  ₹25,000
  • Card Shield Cover:  ₹25,000
  • Purchase Protection: ₹25,000

Zero Foreign Markup Fee

Zero fees are charged for using the IDFC FIRST WoW Credit Card for foreign transactions.

Fees and Charges

Joining Fees

Free

Annual Fees

Free

Annual Percentage Rate

42.00%

Foreign Transaction Fees

0.00%

Eligibility

You must be an Indian citizen who is at least 18 years old to apply for this card.
Additionally, you must have a fixed deposit with the IDFC FIRST Bank that is at least ₹5,000 in value.

2. SBI Student Plus Advantage Credit Card

The State Bank of India (SBI) has introduced the SBI Student Plus Advantage Credit Card, designed to cater to students' financial needs. This card is available for those who have already taken out a loan for education. Students can earn rewards on every card purchase, ensuring a tailored and convenient financial solution for students.

Features

Fuel Surcharge waiver 

Get a 2.5% fuel surcharge waiver across all petrol pumps in India.

Reward Benefits 

  • Earn reward points on all your transactions, with one point earned for every ₹100 spent, giving you more reasons to use this card for your everyday purchases.
  •  Earn 10x reward points when you use this card for international transactions

Utility Benefits

Get a 2.5% value back on eligible purchases.

Annual Fee Waiver

The annual charge of ₹500 would be waived for spending ₹35,000 over the course of a year.

Fees and Charges

Joining Fees

Free

Annual Fees

₹500

Interest Rate

Monthly 2.25%

Foreign Transaction Fees

3.50%

Eligibility

SBI provides these cards to recipients of the bank's educational loans. Opening a fixed deposit with SBI using the required sum is an alternate way to apply for this credit card.

3. HDFC Multicurrency Platinum ForexPlus Chip Card

The HDFC Multicurrency Platinum ForexPlus Chip Card is a versatile prepaid forex card by HDFC Bank, offering easy access to funds in 22 foreign currencies. It offers fraud and accident protection up to ₹5 lakh, account tracking, net banking transactions, currency fluctuations protection, and special discounts. This card is ideal for students with multi-destination travel needs, eliminating the hassle of carrying multiple currencies. There is no annual fee, but an initial issuance fee of ₹500 is chargeable at the time of issuance.

Features

Welcome Bonus

Waiver of the issuance fee for the initial loading of at least USD a thousand (or the equivalent in another currency).

Travel Benefits

  • 22 different currencies may be loaded.
  • Several perks for a complete insurance plan that include travel and loading through online channels at Rs. 0.20 exchange rate.

Insurance Benefits

Get fraud and accident protection up to ₹5 lakh each.

Other Benefits

Upon loading/reloading the card with a minimum of USD 1,500 (or its currency equivalent), an Amazon coupon worth ₹1,500 will be issued.

Fees and Charges

Joining Fees

₹500

Annual Fees

Zero

Interest Rate

Zero (because this is a preloaded card)

Foreign Transaction Fees

Zero
*Transactions done in a currency other than the one loaded on the card will incur a cross-currency markup fee of 2% of the transaction value.

Eligibility

If you are living or working overseas, travelling on vacation or for personal visits, going on business trips abroad, going to school abroad, or going abroad for medical treatment, you can apply for this card. But, the applicant's age should be at least 18 years.

4. Kotak 811 #DreamDifferent Credit Card

 

The Kotak Mahindra Dream Different 811 Credit Card is a secured card issued against a fixed deposit, offering a lifetime free card with no fees and a credit limit of up to 90% of the deposit amount. It offers benefits like fuel and railway surcharge waivers, interest-free cash withdrawals, and a milestone program for cashbacks. This card is ideal for those seeking a simple, hassle-free, and guaranteed approval with low maintenance. No joining or renewal fees are required, and card members can earn bonus reward points as welcome benefits.

Features

Welcome Bonus

Get 500 bonus reward points on – Activation plus purchases worth ₹5000 in the first 45 days of card set-up.

Fuel and Railway Surcharge Waiver

  • Get a 1% fuel surcharge waived off across all petrol pumps for transactions between ₹500 and ₹3000, with maximum benefits capped at ₹3500 per year.
  • Get a 1.8% surcharge waiver for transactions on irctc.co.in & a 2.5% waiver on Indian railway booking counters with maximum benefits capped at ₹500 per year.

Milestone Benefits

Purchases totalling at least ₹75,000 during an anniversary year can get you a ₹750 cashback and four free PVR movie tickets.

Reward Benefits

  • Earn 2 reward points against every ₹100 of online spends
  • Earn 1 reward point against every ₹100 of other spends

Fees and Charges

Joining Fees

Free

Annual Fees

Zero

Interest Rate

3.50% per month

Foreign Transaction Fees

3.50%

Eligibility

Conclusion

Having a credit card as a college student has numerous benefits. You can build a credit history, earn rewards, manage emergencies, enjoy convenience, and access exclusive offers. However, not all credit cards are created equal, and it's essential to choose the one that best suits your needs and wants.

To help you with this, we have reviewed some of the best credit cards for college students available in India. We considered various factors such as features, eligibility, fees, and offers and have compiled a list of the best options. You can compare these cards and select the one that matches your preferences and requirements.

But that's not all! If you're looking to find, compare and apply for credit cards that are tailored to your needs, you can visit Select by Finology. This platform helps you discover the best financial products that suit your financial goals and preferences.

So what are you waiting for? Get your ideal credit card in just a few clicks by visiting Select by Finology today!