Documents Required for Student Credit Card

Documents Required for Student Credit Card

A student credit card may be an excellent tool for teaching financial responsibility and credit-building to kids. Students at least 18 years old may register for student bank cards without proof of income. While several card issuers provide students with starter or secured credit cards, State governments now offer similar programs for students, in which they provide student loans at preferential rates to aid students in pursuing higher education without facing any financial limitations.

A student credit card is very dissimilar from a standard credit card. First, its credit limit is lower. The application process needs to be improved, and if the card is lost, so is the cost of reapplying. In New Delhi: Managing your finances and expenses while also managing time when you're a student away from home can be challenging.

It's essential to keep in mind that there are limited options for "student credit cards."Banks, however, offer student loan debt, secured loan cards, and student currency cards as forms of financial assistance. To utilize these services, It could take a lot of time to withdraw money from an ATM frequently and then request that parents deposit money again. Even if many individuals make online payments, adding money to their wallets might occasionally take a lot of work. But there is a single answer to each of these issues. A student credit card is available. Yes, a few Indian banks offer credit cards specifically for students. However, students must meet specific requirements to be eligible for a student credit card.

Student credit cards don't have an income-qualifying requirement because most students need to earn money. However, there are a few standard requirements that applicants must meet to be eligible. For instance, the candidate must be older than 18 years old. In addition, there can be variations in eligibility requirements between banks.

What Are The Documents Required For A Student Credit Card?

When registering, one must have the following paperwork on hand:

(a) An image of the applicant in color

(b) A color photo in the required format, with a specific file size of a co-applicant or co-borrower according to guidelines.

(c) The pupil's signature must adhere to a precise format and size according to guidelines.

(d) The co-or borrower's guardian’s signature (in a specified format).

(e) Student's AADHAR card.

(f) If a student does not have an AADHAR card, their registration certificate for the Class 10th Board (should be in specific format).

(g)Proof of the Guardian's Address (should be in specific format).

(h) Receivables from admissions.

The student's PAN card or, in the absence of a PAN card, an undertaking (in specific format) is required.

(j) The guardian's PAN card or, in the absence of a PAN card, an undertaking (should be in specific format) is required

(k) The relevant page of the booklet or document that lists the cost of the course or other costs (should be formatted in a certain way)

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Features and Advantages of a Student Credit Card:

You might wonder why you need a credit card when alternative options, such as electronic transactions, are available. However, many advantages come with a student credit card, including the following:

1. Student credit cards frequently have a range of rewards, discounts, and other benefits that might help reduce their outgoing costs. Additionally, there are reward points that students can use after they reach a certain threshold or amount.

2. A student credit card often has a limit of Rs. 15,000, keeping you from going beyond. Additionally, the standard validity period for such credit cards is five years.

Credit Limit of Student Credit Card: Because this is a student credit card, the credit limit is capped at Rs. 15,000 to prevent overspending by the student.

3. You can apply for student credit cards using fixed deposits, savings accounts, education loans, or government programmes..Compared to conventional credit cards, student credit cards have lower interest rates. Low credit limits are offered on student credit cards to prevent debt traps for students.

Several of The Best Credit Cards For Students Include:

1. SBI Student Plus Advantage Credit Card
2. HDFC Bank ForexPlus Card
3. HDFC Multicurrency Platinum ForexPlus Chip Card
4. West Bengal Student Credit Card
5. Bihar Student Credit

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