How to Apply For Student Credit Card Online

How to Apply For Student Credit Card Online

A student credit card is a type of credit card available to college students. Since the credit card does not require an income limit, any student over the age of 18 may apply. Its credit limit is lower. The application fee is relatively low, and if the card is misplaced, the cost of reapplying is likewise meager.

Although many individuals routinely utilize online payments, sometimes putting money into their wallets might be challenging. But there is a single answer to each of these issues. A student credit card is available. Yes, a few banks across India offer credit cards specifically for students.

Students must meet specific requirements to be eligible for a student credit card.

One would wonder why a student should require a credit card, but the truth is that carrying a credit card everywhere is more straightforward and less stressful than having cash because, if it is stolen, it can be quickly blocked. In addition, credit cards are helpful since you can never be too careful with pickpockets and thieves.

Features of a Student Credit Card

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

1. No income documentation is necessary to apply for a student credit card. However, minimal documentation is also required.
2. 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.
3. Getting a credit card early on helps teach a student how to manage a good credit score by making wise financial decisions.
4. Students use their autos to get to college. Students can save money by using a student credit card instead of a debit card or another type of credit card because there is no fuel surcharge to pay when buying gas or diesel.
5. A student may even use the card to pay for books and tuition. They are even capable of producing any other online courses.
6. A student credit card often has Rs. Fifteen thousand maximum limits, which will prevent you from going overboard. Additionally, the standard validity period for such credit cards is five years.

If you're taking out loans for less than Rs 4 lakh, there is no down payment required, and you can apply for the loan without paying anything; however, if you're taking out a loan for greater than Rs. 40 lakh, you will need to pay 5% of it upfront.

To ensure that you can repay the loan as quickly as possible, you should be aware of your credit restrictions when taking out an education loan. If you can complete your studies with less money, try. Additionally, it will assist you in preserving cash from future earnings.

Banks offer student loans for domestic and overseas studies, so be aware of the distinctions between the two. For example, the maximum loan amount for studying in India is Rs. 10 lakh. In contrast, the maximum loan amount for studying abroad is Rs. 20 lakh. Check if the university or institution you wish to attend already has relationships with banks and provides appropriate student loans. This may be useful.

Also read about best 8 credit cards in India

How to Apply for Student Credit Card

The most prominent feature of a student credit card online is that there are no joining or yearly fees, and the application process is paperless when Student credit cards apply online.

1. Log into your account by using the Bank Mobile application when to apply for Student credit card. Then, choose "Credit Card" under "Apply Now" from the list of options when Student credit cards apply.
2. Select the delivery address you want from the options shown on the screen.
3. Decide on a credit limit. 90% of the value of your bank deposits is the credit limit. The minimal credit limit is Rs. 9,000, while the term deposit requirement is Rs. 10,000.
4. To obtain your student credit card, make sure that you set up the Deposits and link it. If you already have fixed deposits, select one of them and press the "Confirm" button. Please be aware that the current FD won't be displayed if you have any Deposits with a principal balance of less than Rs. 10,000 or if you have entered a credit limit.
5. Enter the necessary information after creating your account, such as the withdrawal from the account, the type of deposit, the duration, etc. Click "Confirm."
6. Verify the FD information and click "Accept" to agree to the terms.
7. You will be given an application reference number for online credit card instant approval and credit card within seven working days when the procedure is finished.
8. A credit or debit card e-statement will be sent to the cardholder's registered email address for future contact.

Student credit cards are the newest players in the credit card market that assist college students in handling their expenses. However, not all students are qualified to receive a student credit card.

To issue a student credit card, several banks and financial organizations have developed various sets of eligibility requirements. As a result, the only people qualified to request a credit card are those who fit their needs.

Some of the Best Credit Card in India for Students:

• SBI Student plus Advantage Credit Card
• HDFC Bank ForexPlus Card
• HDFC Multicurrency Platinum ForexPlus Chip Card
• West Bengal Student Credit Card
• Bihar Student Credit Card

Also read about best credit cards for students