How To Apply A Student Credit Card

Credit Card
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How To Apply A Student Credit Card

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A student credit card is a credit card specifically designed for students who are enrolled in college or university. These cards typically have features and benefits that are tailored to the needs of students, such as lower credit limits, no or lower annual fees, and rewards for purchases related to education or everyday expenses. Also known as EMI cards for students, these cards can offer a credit limit of up to ₹10 lakh.

Table of Best credit cards for students

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Credit Card Annual Fee
IDFC FIRST WOW Credit Card Nil
Kotak 811 Dream Different Credit Card Nil
SBI Student Plus Advantage Credit Card 500 Rs
ICICI Bank Student Forex Prepaid Card 199 Rs
ICICI Coral Contactless Credit Card 500 Rs

How to Apply for a Student Credit Card?

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Here are the ways in which you can apply for a student credit card:

  • If your parents have a credit card, then you can get an add-on credit card on that existing card.

  • You can also get a credit card if you maintain a reasonable monthly average balance in your savings account.

  • Some banks also provide student credit card facilities to their existing education loan customers.

  • You can also apply for a student credit card against a fixed deposit. Your credit limit will be equivalent to the fixed deposit amount.

Steps to Apply for a Student Credit Card Online

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The online application process may vary from one card issuer to another card issuer. However, most Follow the below steps to apply for a student credit card:

  • Go to the card issuer’s website or download their app.

  • Go to the student card section and click on ‘Apply’.

  • Fill out all the required details and submit your documents.

  • Once done, the card issuer will verify your details.

  • Once verified, you will receive your card via postal service.

Documents Required to Apply for a Student Credit Card

You will need to submit only the following documents during the application procedure:

  • Birth certificate
  • Passport size photographs
  • University or college ID
  • Proof of residence
  • PAN card

Student Credit Card Eligibility

Prior to submitting an application for a student credit card, individuals must make sure that they fulfill the following eligibility criteria:

  • Applicants should be 18 years old and above.

  • Applicants must be college students.

  • Some banks offer student credit cards only to those who have availed of an education loan.

  • If the student has a fixed deposit in his/her name, then that individual can apply for the loan against the same if the amount meets the minimum limit set by the bank.

  • Some banks offer student credit cards to individuals having existing savings accounts with a decent average monthly balance record.

Final Words

Student credit cards are designed to meet the financial needs of college students and come with basic features of a credit card such as interest-free period, rewards earning, and discounts.

FAQ

Q.1 Is a student eligible for multiple student credit cards?

Ans: No, a student cannot be eligible for multiple student credit cards as he/she will not have a credit history.