December 12, 2022
No Credit History? Here are 8 Best Credit Cards for Students!
Students may find it thrilling yet difficult to enter the world of personal finance, particularly when it comes to establishing credit. For future financial endeavours like renting an apartment, purchasing a car, or even qualifying for a mortgage, building a strong credit foundation is essential. However, getting a credit card might seem like an impossible undertaking for students without any past credit history.
Fortunately, financial institutions understand how important it is to provide students the skills they need to properly grow their credit. There are several credit card alternatives available on the market that are designed exclusively for college students without a credit history. In this post, we'll examine some of the finest credit cards for students that may help them establish credit while also providing a host of perks and features.
These credit cards offer an excellent chance to build creditworthiness, develop sound money management skills, and pave the road for a better financial future, whether you are a college student or a recent graduate. Let's explore the specifics of the best credit cards for college students without a credit history so they may start on the path to financial independence.
The ability to handle one's own finances effectively is one of the most crucial adulting skills nowadays. However, it is disappointing to see that few institutions provide classes on basic budgeting and money management. Obtaining a credit card is an exciting concept, but it may also lead you astray if you're not careful with it.
One must begin early, obtain a credit card while still a student, and take baby steps to establish a solid credit history in order to learn how to manage credit cards responsibly. Picking up a credit card, however, is sometimes difficult because the majority of people do not have an established credit profile by the time they enter college.
Student Plus Advantage Card from SBI
One of the most popular student credit cards is the SBI student plus advantage card. For starters, this card has one of the lowest monthly interest rates at 2.25%. By allowing the doorstep delivery of train tickets that are associated with the credit card, the credit card makes travel arrangements for students easier.
Additionally, you may change each transaction made with the card into a customised monthly EMI. The student receives one cashpoint that may be used to buy presents for every 100 euros they spend on their credit card. Students who are eager to learn responsible money management choose the credit card because gasoline purchases on it are eligible for a 2.5% fee.
Card from Kotak Silk Inspire
The Kotak Silk Inspire Card is your best option if you're a student who enjoys shopping. The cities that are eligible for this card include Bangalore, Chennai, Gurgaon, Noida, Delhi, Kolkata, Chandigarh, Mumbai, Hyderabad, Ahmedabad, and Pune.
The card offers a flat 5% reward when you spend 7,500 on retail purchases in a billing month. You receive 1,000 additional reward points as an anniversary bonus incentive if you spend $1,25,000 every six months. In these circumstances, the 599 yearly maintenance cost is also forgone.
Card HDFC Bank ForexPlus
As a result of the globe becoming a global community, students are looking for international academic chances to advance their careers. Students who want money in a different currency might use the HDFC Bank ForexPlus card.
The ForexPlus card permits the usage of several currencies while eliminating the issue of currency swings. The student is shielded from changes in currency rates when they withdraw money using the card. Consequently, even though this isn't a credit card per se, it works like one because the money is deducted from the card after purchase.
HDFC Multicurrency Platinum Forexplus Chip card
Students who are enrolled in classes in 20 different foreign countries can use the HDFC Multicurrency Platinum Forexplus Chip card. This allows the student to transfer money via secure online wallets, going beyond the fundamental characteristics of a Forex card.
An individual may control their spending, make transactions, and keep track of account activities thanks to the sophisticated capabilities of net banking. Students should choose this card because it has a low limit. This card provides students with security when they are on their own in a strange, unknown country with its fraud cover of 5 lakh, unique bargains and offers, and accident protection of 5 lakh.
Financial Prime Card from Bank of Baroda
For every $100 spent, the BOB Financial Prime Card offers four reward points. This is substantially more expensive than other credit cards that are available with set deposits. The minimum fixed deposit amount is a pitiful 15,000, and the premier card has no annual fees.
ICICI Bank Student forex prepaid Card
Students who are pursuing higher education overseas should definitely think about requesting the ICICI Bank student FX prepaid card. One of the greatest solutions for your fees or daily spending is the card. Money may be added from India, and all transactions take place through a secure channel. The fact that this card will function in any item accepting MasterCard is the biggest motivation to use it.
It is a potential alternative for long-term international travel because student cardholders also receive favourable foreign currency rates. Your membership in the highly sought-after international student identity card qualifies you for a variety of deals and discounts. The card comes with complimentary travel insurance.
Axis Bank insta easy credit card
The Axis Bank insta simple credit card is issued in exchange for a 20,000 rupee minimum fixed deposit. Using the card entitles you to a 100-point welcome bonus on your first purchase. You gain 6 points for every 200 that you spend on the card.
This is a wonderful credit card option for college students who travel frequently because every four reward points are worth one rupee on Yatra. Access to the bank's special dining pleasures programme is one of the card's additional benefits.
Kotak Aqua Gold Credit Card
The only credit card with a fixed deposit that waives additional fees for train tickets is the Kotak Aqua Gold credit card. To qualify for this card, you must have fixed deposits with Kotak Bank totalling at least 25,000.
It is one of the finest cards for college students who use trains frequently or make annual spending totals of over 1,50,000 yen. You get four more PVR tickets for free if you do this. Overall, this card is excellent for students; the main drawback is that there are no points for regular purchases.
It might be difficult to navigate the credit card world as a student with no credit history, but it doesn't have to be. The top credit card alternatives accessible for students in this predicament have been covered in this article. These cards provide a chance to build credit, develop sound money management skills, and take advantage of several features and rewards along the way.
Students may start establishing a good credit history that will be useful to them in the future by picking the correct credit card. These credit cards offer a strong foundation for financial development, whether it is through incentives on purchases, cashback, or low-interest rates.
To conclude, take into account your financial objectives, contrast the characteristics and advantages of several credit cards, and select the one that best suits your requirements. You may confidently begin your credit adventure and lay the groundwork for a solid financial foundation if you have the correct credit card in your possession and practise sensible money management.