Student credit cards in India are designed to cater to the financial needs of students, offering them benefits like cashback, reward points, and discounts on a wide range of purchases. These cards are frequently designed with no annual fees and lower credit limits, which makes them more accessible for young adults. Students can use credit cards like the IDFC FIRST WoW and Amazon Pay ICICI Bank to build their credit history and enjoy various financial benefits. Choosing the right student credit card can significantly impact the development of crucial financial literacy and responsibility skills, ultimately improving one’s ability to manage money effectively.
IDFC FIRST WoW Credit Card
• Secured Credit Card: Supported by a fixed deposit of ₹10,000.
• No credit history or proof of income is required for approval.
• Zero Fees: No annual, membership, or joining fees.
• Earn Rewards: Enjoy the convenience of redeeming your reward points online, anytime and anywhere.
• Higher FD Rates: Fixed deposit earns interest at attractive rates.
• UPI Integration: Up to 3X reward points on all UPI spends.
• Limited Time Offer: 100% cashback up to ₹200 on the first 4 UPI transactions.
• Exclusive Offers: Enjoy exclusive access to incredible deals and discounts from your favourite brands.
IDFC FIRST Millennia Credit Card
• Lifetime Free Card: No annual fee, no charges.
• Unlimited Reward Points: Points are earned on every purchase and never expire.
• UPI Benefits: Up to 3X reward points on all UPI spends.
• Limited Time Offer: 100% cashback on first 4 UPI transactions.
• Low Interest Rates: APR starts from 0.75% per month (9% per annum).
• Interest-Free Cash Withdrawals: No interest for up to 48 days.
• Additional Charges: A late payment fee of 15% will be applied to the total amount due.
• Forex Markup: 3.5% for international transactions.
• Reward Redemption Fee: Each redemption costs ₹99 plus GST.
AU LIT Credit Card
• India’s first customisable credit card.
• Allows users to choose and switch features based on lifestyle and preferences.
• Lifetime Free Card: No annual fee, no charges.
• Features include Milestone Cashback, Category Cashback, Fun & Fitness Memberships, Airport Lounge Access, Shopper’s Reward, and Fuel Surcharge Waiver.
• Transparent Management: Existing LIT cardholders can customise features on the go.
• Application and tracking of features are transparent.
Amazon Pay ICICI Bank Credit Card
• Lifetime Free Card: No joining or annual fee.
• Unlimited Reward Points: Earn points on every purchase, never expiring.
• Amazon Spends 3% cashback on Amazon India purchases, even without a Prime membership.
• Other Expenses: 1% cashback on shopping, dining, insurance, and travel costs.
• Fuel Surcharge Waiver: 1% waiver on fuel surcharge payments.
• Exclusive Redemption Catalogue: You can redeem points for a wide range of products on Amazon India and over 100 merchant partners.
Flipkart Axis Bank Credit Card
• Lifetime Free Card: No joining or annual fee.
• Unlimited Reward Points: Earn points on every purchase, never expiring.
• 5% unlimited cashback on Flipkart spends.
• 4% cashback on Preferred Merchants.
• 1% cashback on other eligible categories.
• Airport Lounge Access: Enjoy 4 complimentary lounge visits per year when you’ve spent a minimum of ₹50,000 in the previous 3 months.
• Fuel Surcharge Waiver: 1% waiver on fuel purchases at all fuel stations across India.
• Dining Delights: Enjoy a 15% discount of up to ₹500 at over 10,000 partner restaurants.
HDFC Bank Freedom Credit Card
• Lifetime Free Card: No annual fee for first-time cardholders.
• Unlimited Reward Points: Earn points on every purchase, never expire.
• Enjoy a generous 5% cashback on platforms like Flipkart, Big Basket, BookMyShow, OYO, Swiggy, and Uber.
• 4% cashback on EMI spends at merchant locations.
• 1 CashPoint for every ₹150 spent on other categories.
• Exclusive Dining Privileges: When you use Swiggy Dineout, you can enjoy a generous discount of up to 20% on partner restaurants.
• Fuel Surcharge Waiver: 1% waiver on fuel transactions.
• Zero Lost Card Liability: Please report your lost card immediately to prevent fraudulent transactions.
• Interest-Free Credit Period: Enjoy up to 50 days of interest-free credit from the date of purchase.
• Revolving Credit: Convert your outstanding balances into easy monthly instalments at a low interest rate.
Axis My Zone Credit Card
• Lifetime Free Card: No joining or annual fee.
• Unlimited Reward Points: Earn points on every purchase, never expiring.
• 5% unlimited cashback on Flipkart, Big Basket, BookMyShow, OYO, Swiggy, and Uber.
• 4% cashback on Preferred Merchants (including Uber, Swiggy, PVR, Tata Play, and Curefit).
• 1 CashPoint for every ₹150 spent on other categories.
• Exclusive Dining Privileges: Swiggy Dineout offers a generous discount of up to 20% at our partner restaurants.
• Enjoy a 1% fuel surcharge waiver on all fuel transactions in India.
SBI SimplySAVE UPI Credit Card
• Annual Fee: ₹499 (one-time) and ₹499 (renewal per annum).
• UPI Integration: Connect your SBI account. Link your SimplySAVE UPI Card to any UPI app and enjoy an interest-free credit period.
• Rewards: Earn 10x Reward Points per ₹150 spent on dining, movies, departmental stores, and grocery.
• Fuel Freedom: No 1% fuel surcharge at petrol pumps between ₹500 and ₹3,000.
• Fee Reversal: If you purchased ₹1,00,000 or more in the previous year, you will qualify for an annual membership fee reversal beginning from the second year.
• Linking to UPI: To start, log in to any UPI app and choose your SBI Credit Card. From there, you can easily set up a UPI PIN.
Kotak 811 Credit Card
• Lifetime Free: No joining fee or annual charges.
• Interest-Free Cash Withdrawal: Up to 90% of the total credit limit.
• Rewards Points: Get rewarded with 4 points for every ₹100 spent online and 1 point for every ₹100 spent on other transactions.
• Fuel & Railway Surcharge Waiver: There is a 1% surcharge waiver at petrol pumps, 1.8% on the IRCTC website, and 2.5% at Indian railway booking counters.
• Milestone Program: Qualify for bonus offers by spending ₹75,000 and above12.
• Backed by a fixed deposit for security.
Bank of Baroda Easy Credit Card
• Reward Program: Earn 1 Reward Point per ₹100 spent.
• 5x points on grocery, departmental store, and movie spending.
• 5% cashback on credit card bill payments.
• No fuel surcharge on fuel spends between ₹400 and ₹5,000.
• Annual Fee Waiver: Spend ₹50,000 annually to waive the annual fee.
• Insurance Coverage: Up to ₹15 lakh for air accidents and up to ₹5 lakh for other accidents.
• Interest-Free Period: Up to 50 days on purchases.
• Free Add-on Cards: 3 free add-on cards for immediate family members above 18 years.
• Fees and Charges: First Year Fee: ₹500, Annual Fee: ₹500.
• Eligibility Criteria: Age: 18-65 years
• Income requirement: Minimum annual income of ₹4 lakh for salaried and self-employed individuals.
Conclusion
Choosing the right student credit card in India can provide students with valuable financial flexibility, rewards, and a chance to establish a solid credit history from an early stage. These cards offer practical financial tools and incentives perfect for student lifestyles. You can enjoy cashback on purchases and discounts on dining and entertainment, making them an excellent choice for students. This credit card can help students develop responsible financial habits that will continue to benefit them beyond their academic years.
Benefits of Student Credit Cards
Student credit cards offer several benefits that can be especially helpful for college students and recent graduates. Let’s dive into the perks:
Building Credit: Student credit cards allow you to establish a credit history. Establishing positive credit habits involves using your card responsibly and ensuring timely payments.
Lower Fees: Many student credit cards have lower service fees and no annual fees, making them budget-friendly.
0% Intro APR Offers: Certain student cards provide introductory periods with 0% APR. During this period, no interest will be charged on your purchases. Be sure to understand the terms and conditions of the promotion.
Cash Back and Rewards: Earning cash back or rewards on eligible purchases can help offset college expenses. Rewards, whether it’s textbooks, laptops, or dining hall meals, add up.
No Foreign Transaction Fees: If you plan to study abroad, having a student credit card with no foreign transaction fees can be beneficial.
Required Documents
• Qualify: Ensure minimum age and school enrollment.
• Check Credit Report: Verify accuracy and identify potential issues.
• Research Options: Compare various student credit cards for no annual fees, suitable rewards, and manageable credit limits.
• Application Process: Apply online, over the phone, or in person.
• Provide Personal Information: Name, address, and social security number.
• Student credit cards are a responsible way to build credit scores.
