Top 4 Student Credit Cards in India With No Annual Fees! - All You Have To Know
In India, students often face challenges when applying for credit cards due to a lack of credit history or income. However, several banks are now offering student credit cards without any annual fees, making it easier for young adults to manage their finances and build a credit score.
Benefits of Student Credit Cards
Student credit cards come with multiple advantages:
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Building Credit History: Using a credit card responsibly helps students establish a good credit score, which is essential for future loans.
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Rewards Programs: Many student credit cards offer reward points on purchases, which can be redeemed for cash, vouchers, or travel miles.
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Emergency Backup: Having a credit card provides a financial cushion in emergencies, allowing students to handle unexpected expenses easily.
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Supplementary Card Options: Students can either get an add-on card linked to a parent’s primary credit card or obtain a card backed by a fixed deposit.
Top Banks Offering Student Credit Cards
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IDFC First Bank Waow Credit Card:
- This card is supported by a fixed deposit and requires no credit history or income proof.
- Features include zero forex conversion fees, 4X reward points on spending, and 100% ATM cash withdrawal limit of the FD value.
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ICICI Bank Student Credit Card:
- Available against a fixed deposit with a minimum amount of ₹50,000.
- Typically has no joining or annual fees, making it an attractive option for students.
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Axis Bank Student Credit Card:
- This card can be issued without income proof, and the documentation process is simpler compared to regular credit cards.
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Kotak Mahindra Student Credit Card:
- Known as the 811 #DreamDifferent Credit Card, it features zero annual fees, interest-free cash withdrawals, and 2X rewards.
- The card can be initiated through a fixed deposit with Kotak Bank.
For students looking to navigate their finances better, these credit card options offer an excellent way to build a financial foundation without the burden of annual fees. By responsibly using these cards, students can not only enjoy various benefits but also secure their financial future.
