The Best Students Credit Cards: Tips and Recommendations

It’s important to get student credit cards which is specially designed for student who spend for shopping online and daily spends. Whether you’re looking to build credit, earn rewards, or simply have a backup payment method, there are many options available. In this article, we’ll provide tips for choosing the best credit card and recommend the top 5 student credit cards in India.

Tips to Choose Best Students Credit Cards

1. Check the Eligibility – Before applying for a credit card, confirm that you meet the eligibility criteria. This includes age requirements, income requirements, and credit history.
2. Look for no annual fee cards – Many student credit cards charge renewal fee, but there are also plenty of no annual fee options available. Avoiding yearly fees can help you save money.
3. Consider rewards and benefits – Some student credit cards offer rewards programs that helps you to earn RPs or cash back on your purchases. Look for a card that offers more rewards that align with your spending habits.
4. Check the interest rate – The interest charges on a credit card can have a huge impact on your finances. Look for a card with a low-interest rate to avoid paying high-interest charges.
5. Read the terms & conditions – Make sure you read the terms & conditions of the credit card before applying. This includes fees, interest rates, and rewards programs.

Top 5 Student Credit Cards in India

1. IDFC FIRST WoW Credit Card – This card offers 20% discount on dining spends and 15% cashback on health and wellness outlets. It also offers a 1% waiver on fuel surcharge and no annual fee for the first year.
2. SimplySAVE UPI RuPay Credit Card – This card offers 10X RPs on movies, groceries, dining, departmental stores and 1% cashback on all other spends. It also offers a 1% waiver on fuel surcharge and annual fee can be waived by spending Rs. 1 lakh in a previous year.
3. AU Bank LIT Credit Card – This card gives 5% and 2% cashback on retail spends on achieving the spend target. It also offers a 5% cashback for travel, dining, and grocery expenses.
4. Amazon Pay ICICI Bank Credit Card – This card offers 5% cashback on Amazon and 2% cashback on partner brands. It also offers a 1% waiver on fuel surcharge at all petrol stations across India.
5. HDFC Bank Freedom Credit Card – This card offers 5X cashpoint on EMI transactions at merchant outlets, and 10X cashpoint on Big Basket, Swiggy, BookMyShow, Oyo, Uber, and more. It also offers a 1% waiver on fuel surcharge and annual fee can be waived by spending Rs. 50,000 in a previous year.

Pros and Cons of Student Credit Cards

Pros:

• Helps build credit – Using student credit cards responsibly can help you build credit, which is important for future loans and mortgages.
• Rewards & benefits – Many credit cards offer rewards programs that allow you to earn RPs or discounts on your purchases.
• Emergency backup – A credit card can be a useful backup payment method in case of an emergency.

Cons:

• High-interest rates – Credit cards might come with a rate of interest, which can lead to debt if you’re not careful.
• Fees – Some credit cards charge annual/renewal fees or other fees that can add extra over time.
• Temptation to overspend – Student credit cards can be tempting to spend more, and it’s important to use it responsibly to avoid overspending.

Also Read: Unlock Financial Rewards: Explore the Best AU Bank Credit Cards Today!

Conclusion

Choosing a card that fits for a student can be a difficult task, but with the right information, it can be a simple process. Make sure to check the eligibility criteria, look for no annual fee cards, consider rewards and benefits, check the interest rate, and read the fine print before applying.