Small companies, which offer
April 04, 2023No 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.
Conclusion
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.