Can Students Get a Credit Card?

In modern times, credit cards are a basic necessity to meet immediate needs, and thus many banks in India offer students credit cards to empower students. Student credit cards could be a great option for building your credit history from a young age.

You should know the requirements, and eligibility criteria for a student credit card to seek its benefits. Indian banks offer easy ways to apply for credit cards online, and you can secure your credit card in different ways. 

What is a Student Credit Card?

Student credit cards are a cheap alternative to standard credit cards which can be secured by young individuals who do not have robust credit history. You can apply for them if you are above 18 years of age with the least documents. 

You can secure student credit cards in 2 ways i.e. add on card service to your parental accounts or credit card based on your fixed deposit. You can get a 90% credit limit on your fixed deposit. These cards are effective if you are studying and have limited income.       

Eligibility to Get a Student Credit Card

‘How can a student get a credit card?’ is a common question. So, let’s understand what makes you eligible for a student credit card. There are certain requirements set by banks to provide you with student credit cards.

• You should be of legal age to be eligible i.e. 18 years.

• You must be an Indian citizen to qualify for a student credit card in India.

• If you have a fixed deposit account with your bank of a minimum ₹50,000 to be eligible for a student credit card.  

Student Credit Card Application Requirements 

How to get a student credit card is a common query that people often ask, so for this you should know some essential documents required, and this makes it easy for an individual to apply for a student credit card. Such knowledge makes the application process smooth. 

Ensure that you have the below-listed documents for your student credit card application. You may be asked to bring additional documents based on different situations.

• Aadhaar Card

• Pan Card

• Passport Size Photograph

• Proof of student (ID card or enrolment form for your university or college).

In some cases you may need to submit the following:

• Guarantor details

• Income proof

• Linked parental account details for add-on linked credit card  

2 Ways to Secure a Student Credit Cards

There are 2 ways by which you can secure a credit card in India i.e.

Add-on credit card: The add-on cards act as the secondary card to the primary card. Your student card will be linked to the parent card, and you can enjoy the majority of the parent card benefits without paying extra fees or charges.  

Credit card against fixed deposit: If you have a fixed deposit at a bank, you can apply for a secured credit card against your FD. You can get a student credit card with a credit limit of 90% of the FD amount. The minimum tenure and amount of the fixed deposit, for which it should be activated is decided by banks.

Online application for a Student Credit Card

To secure your credit card, online you need to follow the below steps.

Step 1: Check your eligibility based on age, documents needed guarantor details, etc.  

Step 2: Go to the bank’s credit section on the official website, and choose from the range of credit cards with different features or options as listed.

Step 3: Apply online for the card, and fill out its related form on the follow-up page. Fill for details, name, education, income, and more.

Step 4: Upload documents as asked which are mainly an Aadhaar card, enrolment certificate, guarantor details, photo, etc.

Step 5: Submit the application by uploading it.

Step 6: The approval process starts which may include further bank contacts for verifications, and may demand some additional documents.

Student credit cards are a good opportunity to start with and build a strong credit history with least or no annual charges or fees in the case of FD-based and add-on credit cards. You should be 18 years above and should be enrolled in an educational institution to secure your credit card, always ensure timely payment for better credit opportunities in the future.