Student Credit Cards: A Smart Start to Building Credit!

Are you a student looking to get your first credit card? It can be exciting and useful, but without a credit history or steady income, it’s tough to qualify. That’s where student credit cards come in!

Here’s everything you need to know before getting one

Benefits of a Student Credit Card

  • Extended validity – Usually valid for up to 5 years.
  • Free replacement – Lost your card? Get a free or low-cost replacement.
  • Low maintenance costs – No annual or membership fees in most cases.
  • Minimal paperwork – Easier application process compared to regular credit cards.
  • Build credit history – Responsible usage boosts your credit score over time.

Eligibility for a Student Credit Card

  • Must be 18 years or older.
  • Must be enrolled in a college or university.

Documents Required

  • Identity Proof – PAN card or other government-issued ID.
  • Address Proof – Aadhaar card or any official residential proof.
  • Enrolment Proof – University/college-issued ID card.
  • Additional Docs – Birth certificate & passport-size photos.

How Can Students Get a Credit Card?

  • Against a Fixed Deposit – Open an FD and get a secured credit card.
  • As an Add-on Card – A family member with a credit card can apply for one in your name.
  • Based on Savings History – Some banks offer student credit cards to those with strong savings habits.

Drawbacks to Consider

  • Lower Credit Limits – Spending limits are lower than regular cards.
  • Higher Interest Rates – Interest rates may be higher than standard credit cards.
  • Possible Fees – Some cards may have late fees or hidden charges.