04 Best Student Credit Cards in India

Looking for good best student credit cards in India? With the increase in digital banks, more financial institutions are automatically offering products focused on students.

Therefore, it has become increasingly difficult to choose among the best student credit cards in India. However, it’s difficult, but not impossible. And today we are going to help you make your choice.

This article will help you learn about the best student credit cards in India, exploring the main ones on the market. We will detail their benefits so you can find a card that helps you build a solid financial foundation.

Why are most student cards “secured”? (Best Student Credit Cards in India)

Have you ever wondered why almost all student cards in India require you to have a fixed deposit?

The reason is that a normal credit card is issued based on your credit history and proven income.

However, most students don’t have a good score or proven income.

Therefore, the solution is the secured card. With it, the bank asks you to make a fixed deposit. This money stays with them as collateral. If you can’t pay your bill, the bank simply uses the amount of your deposit to cover the debt.

This eliminates risk for the bank, making card approval easier.

Main student credit cards in India

Now let’s look at the most popular options and see what each one really offers.

1. IDFC first wow credit card

This card is the most sought after by students.

It is a secured card, where you won’t have to worry about joining fees or annual fees.

What makes it really interesting, however, is the 0% foreign exchange markup fee.

This is a huge benefit for those who buy from foreign websites or plan to study abroad.

Furthermore, it offers a credit limit of 100% of your deposit amount, and best of all, you can open the fund with only Rs. 5,000.

2 Axis Bank Insta Easy (Best Student Credit Cards in India)

Another deposit-secured option is the Axis Bank Ace Credit Card, which is a very interesting alternative for those looking for a card with no annual fees.

As a general rule, it offers a credit limit of up to 80% of your deposit amount. Furthermore, you will need a minimum deposit of Rs. 20,000 to qualify, a little higher than IDFC.

An interesting benefit is the 1% fuel surcharge waiver, which is useful if you use your card to fill up your car.

The annual interest rate is 34.49%, which is a point to note if you don’t usually pay the full bill.

3. SBI Student Plus Advantage

This is the card for those who already have an educational loan with SBI.

It has no joining fee or annual fee, but it has a renewal fee of Rs. 500 if you don’t spend at least Rs. 35,000 per year.

The credit limit is secured by your loan, or by the initial deposit.

It is worth noting that you will have access to a points program, being able to earn up to 1 point for every Rs. 100 spent and a 2.5% fuel surcharge waiver.

4. Amazon Pay ICICI Credit Card (Best Student Credit Cards in India)

This card is a bonus on the list, as it’s not officially a student card, but it’s very popular among them. The reason is that it offers a 5% cashback program for Prime members and 3% for non-members on Amazon purchases.

Furthermore, it also has no joining fees or annual fees. The credit limit is based on your income and profile.

Although the income requirement is Rs. 25,000 to 35,000 per month, many students manage to get approval if they prove income.

Therefore, this is a great gateway to credit if you have a source of income, no matter how small.

Is a student credit card worth it?

Honestly, the expression student credit card can be a bit misleading. For example, the ICICI Bank Student Prepaid Card is for students, but it’s not a credit card.

It’s a prepaid travel card that you have to load with money.

Thus, it’s great for international transactions, but it doesn’t give you a line of credit and, more importantly, it doesn’t help you build a credit history.

3 Essential tips for responsible use

Choosing the right card is just the beginning. What really matters is how you use it. Here are some important tips to do well:

1. Pay in full, always: Paying the minimum due protects you from late fees, but interest on the remaining balance will accrue, and it can be quite high. Try to pay your entire bill before the due date;
2. Use it to build credit: The CIBIL Score is a score from 300 to 900 that shows how well you manage your debts. A score above 750 is excellent. To build a good score, use your card responsibly, making small purchases that you can pay in full every month;
3. Keep credit utilization low: Try not to use more than 30% of your credit limit. If your limit is Rs. 10,000, for example, it’s ideal not to spend more than Rs. 3,000. This shows banks that you are a disciplined user and do not depend on credit.

Conclusion (Best Student Credit Cards in India)

The best choice among the best student credit cards in India depends on your objective.

For those looking to build a solid credit history in the safest possible way, the IDFC FIRST WOW! or the Axis Bank Insta Easy are the best options.

This is because they minimize risk for you and the bank. At the same time, they provide an excellent financial learning opportunity.

However, if you already have a source of income and want a card with real cashback benefits, the Amazon Pay ICICI Credit Card is more than a viable option.

Always use the card responsibly. This way, you avoid debt and get better credit opportunities in the future.