Students have their own financial obligations to meet, which might be possible to cover with savings. To ease students from such issues, various banks offer credit cards for students. If you are a student, you should be aware that the features of a student credit card will differ from those of a standard credit card. However, the best credit card for students has its own set of advantages.
For example, you will not have to show any income proof and get a card low interest rate. Moreover, students can avail a credit card in India even if they do not have a credit history. Mentioned below are the best credit cards you can consider choosing to meet your financial needs.
Best credit card for students
The best credit card for students must come with lower interest rate, no annual fees and reward points. In this regard, here are the top credit cards for students:
- SBI Student Plus Advantage Card
This credit card is only available to customers who have taken out an education loan from State Bank of India. To be eligible for this credit card, you must have a fixed deposit in any SBI branch. The credit card provides many benefits, such as no annual or renewal fees if you spent more than Rs. 35,000 in the previous year.
Moreover, you will also earn one reward point for every Rs. 100 spent. You can also use those points to pay off your outstanding balance.
- ICICI Bank Student Travel Card
If you want to study abroad, the ICICI Bank Student Travel Card could be an ideal choice. You can use this credit card to pay your application and university fees. The card is extremely useful because it allows you to manage your living expenses. It is also accepted at all merchants that accept MasterCard.
You are entitled to a free International Student Identity Card membership, which grants you access to various discount benefits as well as exciting destination offers. The tempting merchant discounts and offers are available in 131 countries, including India.
- HDFC ForexPlus Card
This is one of the best credit cards to get if you are studying abroad. The HDFC ForexPlus Card is designed specifically for students studying abroad who require funding in multiple currencies. This card functions similarly to a credit card, as the amount is directly deducted from the HDFC ForexPlus Card balance.
This card is available in ten currencies that are accepted worldwide. You can exchange them for the currency of the country you are currently in. Furthermore, it is accepted at all merchant locations that accept Visa or MasterCard.
- HDFC Multicurrency Platinum ForexPlus Chip Card
This card is ideal for students who need to travel to multiple destinations and want to carry 23 currencies on a single card. You can save money and time by carrying 23 foreign currencies by getting a HDFC Multicurrency Platinum ForexPlus Chip Card. This gives you complete protection against any future fluctuations in foreign exchange rates.
You also get a Rs. 5 lakh insurance policy in case of card misuse, accident, or fraud.
In recent times, more and more banks are coming up with new credit card offers for students. Choosing the best among the rest might be an overwhelming process for some individuals. If that is the situation, you can resort to a reliable financial marketplace showcasing different credit card offers. This will help you make an informed decision.
You can get the best credit card for students by meeting a few eligibility parameters. For instance, you need to be more than 18 years old and must be enrolled in a college or university. Proper proof regarding the same must be presented to the credit card provider.