Thinking of getting a student credit card? Check Out These 5 Great Options Personal finance news

A good credit score is important when you make many important decisions in your life after graduation, such as renting an apartment or applying for a car loan. Opening a student credit card is a smart way to start building credit early while taking advantage of special rewards and financing offers.

Any student over the age of 18 can apply for a credit card and these credit cards have lower interest rates and are valid for 5 years. A student credit card is very different from a regular credit card. There is no paperwork required and you will not be asked to present a payslip or an ITR. State Bank of India, HDFC, Axis Bank, and ICICI Bank are the major banks that offer student credit cards. International students can also get credit cards from a few banks.

There are several benefits of having a credit card such as a low interest rate, no annual fee, and reward points for spending a certain amount.

Here are the 5 best student credit cards:

SBI Student Plus Advantage Credit Card

A special credit card is only available to State Bank of India student loan clients. Named SBI Student Plus Advantage Card, it can be obtained by making a fixed deposit at any branch of the State Bank of India. Interest-free credit is extended for 20-50 days on retail transactions when the previous month’s balance is paid in full.

ICICI Bank student travel card

The ICICI Bank Student Travel Card is an exchange card for students studying abroad. This card is available in five different currencies and is valid for three years. It provides travel insurance as well as emergency assistance. USD, EUR, GBP, AUD, and CAD are the five currencies that can be loaded onto a card.

It can be used for online shopping as well as for physical scans all over the world.

The membership fee is Rs.150, the top-up fee is Rs.100, and there is a cross-over charge of 3.5% + GST.

ForexPlus Platinum Multicurrency HDFC Chip Card

This HDFC credit card incorporates PayWave technology, which allows you to make contactless payments in stores. This card can hold up to 22 different currencies and you can save money and time by holding 23 foreign currencies on your HDFC Multicurrency Platinum ForexPlus chip card.

HDFC Student Expansion Card

The HDFC Student add-on card is quite similar to a credit card and the add-on card is given to a person over 18 years of age.

Spending on the card is included in the monthly parent card statement, and parents can easily track their children’s spending. You can also receive transaction reminders to track your spending. Expansion cards don’t require a lot of paperwork and the application process is straightforward. Purchases made with additional cards can be made online and offline.

Bihar student credit card

This credit card is specifically for students pursuing higher education in Bihar. With this card, a student who has completed the 12th class can borrow up to Rs 4 lakhs, which can be repaid once the student has completed his studies and found a decent job. This card would be supported by the government. To get the Bihar Student Credit Card Program, a student must have a co-applicant – their parents or guardians – who can provide proof of income and have a secure job.