The popularity of credit cards has just exploded, and at this point in time, who does not want a credit card with a handful of offers, discounts, rewards, reasonable interest rates and whatnot. And if everyone is getting their hands on the best credit cards in town, then why should students miss out on this opportunity?
And if you are a student looking for a credit card to manage your expenses, build your credit history and enjoy some perks, then you have landed on the right page. There are many credit cards available in India that are specially designed for students and offer benefits such as low fees, rewards, discounts, forex convenience and more.
However, choosing the right credit card can be tricky as there are many factors to consider, such as eligibility, features, charges, benefits and drawbacks. To help you out, we have compiled a list of some of the best credit cards for students in India based on various criteria. Read on to find out more.
List of Top Credit Cards for Students
Here are the top 5 Credit cards for students
1) SBI Student Plus Advantage Credit Card
SBI Student Plus Advantage Credit Card is a uniquely designed credit card tailor-made to fulfil the needs and requirements of students. With this SBI credit card, you get the opportunity to earn rewards on every card purchase.
- No annual or joining fee: Experience the freedom of using this card without any burden of additional fees.
- Balance transfer from another credit card: Seamlessly transfer your existing credit card balance to enjoy the convenience and flexibility of this card.
- Low-interest EMIs: Make your big purchases more affordable with low-interest equated monthly installments, ensuring financial ease and convenience.
- Rewards on international transactions: Earn 10x reward points when you use this card for international transactions, unlocking exciting rewards and benefits.
- Benefits on utility purchases: Get rewarded for your utility expenses with a 2.5% value back on eligible purchases, adding extra value to your card usage.
- Fuel Surcharge waiver: 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.
The only drawback of this card is that these cards are given out by SBI to borrowers of educational loans from the bank. However, an alternative method to apply for this credit card is by opening a fixed deposit with SBI using the necessary amount.
2) HDFC Multicurrency Platinum ForexPlus Chip Card
HDFC Multicurrency Platinum ForexPlus Chip Card is a versatile card that offers easy access to funds in 22 foreign currencies. With this, you can manage currency exchange effortlessly and add funds securely through online wallets. You can also enjoy the additional benefits of fraud and accident protection up to ₹5 lakh each, account tracking, net banking transactions, protection against currency fluctuations, and special discounts with each transaction. This card is perfect for students with multi-destination travel needs, eliminating the hassle of carrying multiple currencies.
- Comprehensive protection: Enjoy fraud and accident protection up to ₹5 lakh each, ensuring peace of mind.
- Convenient account tracking: Stay in control with easy-to-use account tracking features.
- Seamless net banking transactions: Execute secure net banking transactions effortlessly.
- Protection against currency fluctuations: Protect yourself from currency fluctuations' impact for stability in your transactions.
- Exclusive discounts and deals: Unlock special discounts and deals with every transaction.
Apart from knowing all these benefits, you must also know that HDFC Bank Multicurrency Platinum ForexPlus Chip Card is subject to specific criteria.
You can apply for this card if you are settled abroad, travelling for holidays or personal visits, employed abroad, going abroad for business travel, studying abroad, or travelling abroad for medical treatments. You must ensure you meet the relevant eligibility criteria before applying.
3) Axis Bank Insta Easy Credit Card
If you are looking for a credit card that offers guaranteed approval, minimal documentation, flexible credit limit and a high cash withdrawal facility, then Axis Bank Insta Easy Credit Card can be a good option for you. The chip and pin enabled Axis Bank Insta Easy Credit Card makes banking easier by issuing the card in exchange for an Axis Bank Fixed Deposit. With this card, you can also enjoy benefits such as a fuel surcharge waiver, a free credit period, dining delights, global emergency assistance, eDGE Loyalty Rewards, and much more.
- Flexible Credit Card: You can get a credit limit of your choice upto a maximum of 80% of the FD principal value.
- 50-Day Credit Free Period: You can enjoy free credit for 50 days on your purchase transactions.
- High Cash Withdrawals: You can withdraw as much cash as you need upto 100% of your credit limit from day one.
- Fuel Surcharge Waiver: With this card, you get a 1% fuel surcharge, with maximum benefits capped at ₹400 per month. (This is valid only for transactions between ₹400 to ₹4000.)
- Dining Benefits: You get a minimum of 15% off at Axis Bank’s Dining Delight’s partner restaurants.
- Axis EDGE Loyalty Points – You earn the reward points in the following way:
- For every ₹200 spent domestically, you earn 6 reward points.
- Each ₹200 spent on foreign purchases gets 12 reward points.
- 100 points for the first online purchase.
The major drawback of this card is that this card is issued only when you have a fixed deposit at any Axis Bank branch. And you must remember that tax-saving FDs, flexi-deposits, and fixed deposits in the name of any HUF, society, trust, or company are not eligible for Axis Bank Insta Easy Credit Card issuance.
4) Kotak 811 DreamDifferent Credit Card
Kotak 811 #Dreamdifferent credit card is a secured credit card that is issued against your fixed deposit with Kotak Mahindra Bank. This card offers you a lifetime free card with no joining or annual fee and a credit limit of up to 90% of your fixed deposit amount. You can also enjoy benefits such as fuel and railway surcharge waivers, interest-free cash withdrawals, and a milestone program that rewards you with cashbacks. This card is a perfect choice for those who want a simple and hassle-free credit card with guaranteed approval and low maintenance.
And, not to forget, the icing on the cake is that you need not to pay any kind of joining or renewal fee on this credit card.
- 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: 1% fuel surcharge waived off across all petrol pumps for transactions between ₹500/- and ₹3000, with maximum benefits capped at ₹3500 per year.
- Along with this, 1.8% for transactions on irctc.co.in & 2.5% Indian railway booking counters with maximum benefits capped at ₹500 per year.
- Milestone Benefits: When you use your Kotak Dream Different Credit Card to make purchases totalling at least ₹75,000 during an anniversary year, you receive:
- A ₹750 cashback.
- Four free PVR movie tickets.
- Reward Points Benefit:
- Earn 2 reward points against every ₹100 of online spends
- Earn 1 reward point against every ₹100 of other spends
Now that you know the benefits of holding this card, we must also tell you what criteria you need to fulfill to get one. So, here it goes:
- 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.
If you are looking for a credit card that offers WOW benefits, you might want to check out the IDFC FIRST WoW Credit Card. This card is a secured credit card that does not require any income proof or credit history to apply. You can get it by opening a fixed deposit with IDFC FIRST Bank and enjoying a high credit limit of at least 100% of your fixed deposit value.
This card offers excellent benefits such as airport lounge access, fuel surcharge waiver, and complimentary movie tickets. And the cherry on top is that this card has no joining or annual fees.
- Welcome Bonus: Get 5% cashback upto ₹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 upto 20% discount on dining at over 1500+ restaurants
- Insurance Benefits: Get Personal Accident cover of ₹2,00,000, Card Liability Cover, card shield cover, and purchase protection worth ₹25,000.
- Zero Foreign Markup Fee: You won't be charged any fees or charges for using the IDFC FIRST WoW Credit Card for foreign transactions.
Now, after knowing about the benefits of the IDFC IDFC FIRST Bank Wow Credit Card, you might be willing to apply for it. But you should know that to apply for this card, you must be at least 18 years old and should be an Indian resident.
You are also required to have a fixed deposit with the IDFC FIRST Bank, whose amount should be at least ₹5,000.
In conclusion, as a student, having the right credit card can provide you with numerous benefits and convenience. With a range of options available in India, tailored specifically for students, you can enjoy low fees, rewards, discounts, and seamless forex transactions. Take advantage of the SBI Student Plus Advantage Credit Card, HDFC Multicurrency Platinum ForexPlus Chip Card, Axis Bank Insta Easy Credit Card, Kotak 811 #DreamDifferent Credit Card or IDFC FIRST Bank Wow Credit Card to enhance your financial journey.
Don't miss out on the opportunities these credit cards offer! Choose the card that suits your needs and fulfills the eligibility criteria. Apply today and embark on a journey of financial empowerment and rewards. Take control of your expenses, build your credit history, and enjoy the perks that come with responsible credit card usage. Start exploring the possibilities and make the most of your student life with the perfect credit card. Apply now and pave the way to a brighter financial future!