Are you planning a student credit card? Check Out These 5 Great Options | Personal financial news

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Good credit is important when you are making many of the important life decisions you make after graduation, such as renting an apartment or applying for a car loan. Opening a college student credit card is a smart way to start building credit early while taking advantage of rewards and special financing offers.

Any student over the age of 18 can apply for a credit card. These credit cards have lower interest rates and are valid for 5 years. A student credit card is very different from a normal credit card. No paperwork is required, and there is no prompting for a pay slip or ITR. State Bank of India, HDFC, Axis Bank, and ICICI Bank are the leading banks offering credit cards to students. International students can also obtain credit cards from some banks.

There are several advantages of a credit card, such as a low interest rate, no annual fees, and bonus points when you spend a certain amount.

Here are the 5 best credit cards for students:

SBI Student Plus Advantage credit card

A special credit card is only available to State Bank of India’s educational loan customers. It is named as the SBI Student Plus Advantage Card and can be purchased by making a time deposit at a branch of the State Bank of India. For retail stores, an interest-free loan is granted for 20 to 50 days when the balance of the previous month has been paid in full.

ICICI Bank Student Travelcard

The ICICI Bank Student Travel Card is an international card for students studying abroad. This card is available in five different currencies and is valid for three years. It offers travel insurance as well as emergency assistance. USD, EUR, GBP, AUD and CAD are the five currencies that can be loaded onto a card.

It can be used for both online purchases and physical wiping around the world.

The enrollment fee is Rs. 150, the reload fee is Rs. 100, and there is a 3.5 percent + GST ​​cross-currency fee.

HDFC Multicurrency Platinum ForexPlus Chip Card

This HDFC credit card has built-in PayWave technology that allows you to make contactless payments in shops. This card can consist of up to 22 different currencies and you can save money and time by holding 23 foreign currencies on your HDFC Multicurrency Platinum ForexPlus chip card.

HDFC additional student card

The HDFC Student additional card is very similar to a credit card and is issued to people over the age of 18.

The expenses on the card are included in the monthly statement on the parent card and parents can easily track their children’s expenses. You can also get transaction reminders to keep track of your expenses. Add-on cards don’t require a lot of paperwork and the application process is straightforward. Purchases with additional cards can be made both online and offline.

Bihar student credit card

This credit card is specially designed for students attending higher education in Bihar. This card allows a student who has completed 12th grade to borrow up to Rs 4 lakhs which can be repaid once the student has completed their education and found a decent job. This card would be supported by the government. To get the Bihar student credit card system, a student must have a co-applicant – either their parents or guardians – who can provide evidence of an income and a secure job.

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