Top Student Credit Cards & Other Payment Options in India

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Score a degree and a credit history.

Going off to college and looking for ways to manage your expenses? Then student credit cards, forex cards, and travel cards are options you should definitely explore. These options will help you manage expense and deal with money better. Let’s take a look at some of the student credit cards, their eligibility criteria, and documentation required to apply for them.

Student credit card options available in India

SBI Student Plus Advantage Card

The Student Plus Advantage Card comes packed with an array of student-oriented benefits. Although this card is issued only to those who have an educational loan with SBI, you can get your hands on this card by opening a fixed deposit at any branch of State Bank of India as well.

In addition, you can transfer the balance from another credit card to your SBI student credit card to get a lower interest rate on your EMI. This will allow you to save money while paying credit card dues. You can also book railway tickets, pay your utility bills, and enjoy 10X reward points on international transactions.

Some of the important features of this card are:

  • Zero annual fee
  • 2.5% value back on the purchases made in departmental or grocery stores
  • 2.5% fuel surcharge waiver across all petrol pumps in India
  • 1 reward point on every INR 100 spent from the card

AXIS Bank Insta Easy Credit Card

This credit card can be issued against a fixed deposit, at any branch of Axis Bank. You can make cash withdrawals up to 100% of the credit limit. A credit limit of up to 80% of the fixed deposit principal value can be issued to this card.

Some of the important features of this card are:

  • Offers up to 15% discount on meals at alliance restaurants
  • 1% fuel surcharge waiver on all fuel transactions in India
  • Secured with a platinum chip-card

While student credit cards are a good option to help you increase your credit score, there are other types of cards such as travel cards that too, can help you with a credit option that is safe and easy to use.

Travel cards available in India

ICICI Bank Student Travel Card

The ICICI Bank Student Travel Card is an incredible option for those who want to study abroad. You can use this credit card to pay for your application and course fees either online or through a physical swipe. The credit card allows you to manage your daily expenses and can be used worldwide at outlets that accept Mastercard.

You’re also eligible for International Student Identity Card (ISIC) membership which gives you access to discounts in 130 countries and about 1,26,000 merchant locations.

Some of the important features of this card are:

  • Can be used for payments towards cab rentals, air bookings, accommodation and recharge on international prepaid mobile
  • Allows easy online account management
  • Access to 24×7 customer care via international toll-free numbers across 16 countries

HDFC Bank’s ISIC Student ForexPlus Card

An exceptional option for students residing abroad, HDFC’s ForexPlus Card gives you access to multiple currencies. They work similar to a credit card, where the transaction amount is debited directly from the HDFC Student ForexPlus Card.

The card is accepted worldwide at all outlets which are affiliated to Mastercard or Visa. One of the striking features of this card is that when you carry out a transaction, the fluctuation in the market rates won’t affect you.  

Some of the important features of this card are:

  • They work similar to credit cards and offers its holders an ISIC membership
  • Reload it instantly anywhere or ask someone else to do it for you from any part of the world
  • Other benefits such as free insurance coverage, chip-based security, emergency cash, and discounts on food, books, and accommodation in 130 countries

HDFC Multi-Currency Platinum ForexPlus Chip Card

The Multi-Currency Platinum ForexPlus Card allows you to access money in 22 foreign currencies. The money can be transferred through secure online wallets. In addition, this card offers protection against the fluctuation of foreign exchange rates that might increase or decrease the value of currency. All in all, this card is perfect for students who have multi-destination travel needs that require them to carry several currencies in one card.

Some of the important features of this card are:

  • Protection upto 5 lacs is provided against any kind of theft or misuse of the card
  • Special discounts offered to students to help them make extra savings
  • Complete protection against fluctuating forex rates

Student Credit Cards: Eligibility Criteria and Documents Required

The minimum age limit to avail this card is 18 years. The applicant must be enrolled at a college. As for the documents needed, you will need the following documents in order to be eligible to apply for the card.

  • PAN Card
  • Residential address proof
  • Birth Certificate
  • College Enrolment proof
  • Identity card of the college
  • 2 passport-sized photos

Regardless of the student card you choose, make sure to use it with caution. Make sure you repay the entire amount every month so that you do not pile up your debt. All in all, a student credit card can be immensely beneficial if you stick to a budget and pay off your dues on time.

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