Best Credit Cards for College Students

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. However, as fingers are not the same, 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. We will review some of the best credit cards for college students in India based 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:

• Building credit history: Having and using a credit card is one of the best ways to establish and increase your credit score. If you have a good score on your credit card, you may be able to apply for loans, mortgages, and other financial items in the future.
• Earning rewards: Credit cards can help you save money or receive freebies by offering reward points, cashback, discounts, and other benefits on your purchases.
• Managing emergencies: In the event of unforeseen expenses or emergencies, such as medical bills, repairs to your car, or holiday bookings, a credit card can come in very handy. You can pay these costs using your credit card and then pay them back whenever it's convenient for you.
• Enjoying convenience: Nearly everywhere, both online and offline, credit cards are accepted. There is no need to carry cash or worry about losing it. Additionally, you can use your credit card to make contactless purchases or withdraw cash from ATMs.
• Accessing exclusive offers: Some credit cards offer students special privileges or perks, such as discounts on education-related expenses, travel insurance, access to lounges, or membership to international student organisations.

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 issued against a fixed deposit. This means that you don't need 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 deposit 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. An alternate way to apply for this credit card is to open a fixed deposit with SBI using the required sum.

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 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

• The applicants should be at least 18 years of age and Indian residents. 
• A minimum fixed deposit (FD) amount of ₹10,000 is required. 
• Only Individual term deposits (TDs) are allowed.

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 available to college students 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 Finology Select. This platform helps you discover the best financial products that suit your financial goals and preferences.

So what are you waiting for? Visit Finology Select today to get your ideal credit card in just a few clicks!