Struggling with Student Expenses? Your First Credit Card Can Help

Best Credit Cards for Students in India: While pursuing education, when you choose to study abroad to build your career, your financial journey also begins. For students who wish to study away from home, I’m going to provide information about some student credit cards.

These 7 credit cards can be very useful in meeting financial needs while studying abroad. These cards come with all the basic features of a regular credit card, such as an interest-free period, reward points, and various discounts. In India, students above the age of 18 can apply for student credit cards from major banks like SBI, ICICI Bank, Kotak Mahindra Bank, etc. Let’s understand more about this.

What Is a Student Credit Card?

student credit cards are designed to help students manage their financial needs, especially when studying abroad or away from home. These cards offer features like low credit limits, reward points, discounts, and minimal documentation, which are tailored for students with limited or no income.

Benefits of Student Credit Cards

1. Low Credit Limit: Student credit cards usually come with a lower credit limit (typically around ₹15,000), so that cardholders don’t overspend.
2. Long Validity: These cards are generally valid for five years from the date of issuance, whereas regular cards are valid for three years.
3. Waived Fees: These cards usually do not have a joining fee, and the annual fee is either very low or zero. Many cards waive the annual fee upon meeting a specific spending threshold.
4. Minimal Documentation: These cards require fewer documents compared to regular credit cards. Many banks accept academic documents or proof of deposit instead of extensive financial records.
5. Rewards and Discounts: These cards offer various rewards and discounts. You earn points on spending, and benefits include cashback, fuel surcharge waivers, lounge access, and forex fee waivers.
6. Security: Many student cards are secured, meaning you get the card against a fixed deposit (FD). Interest is earned on the FD, and the deposit serves as your credit limit.

Another important point to note is that banks and financial institutions offer various forms of financial support to students. For example, secured credit cards against an FD, add-on cards on the primary cardholder’s account (like a parent’s), or cards based on the transaction history of a savings account.

Top 7 Student Credit Cards in India (2025)

The table below provides information on some popular student credit cards in India, along with their annual fees and key benefits:

The above annual fees and card features have been updated with financial data till 2025.

Best Features of Each Card

• IDFC FIRST WOW Card: No joining or annual fee. Offers 100% credit limit against FD. Earns up to 7.5% interest on FD. 4X rewards on spending. No currency conversion charges on international transactions.

• Kotak 811 Dream Different: No fees. 4X (online) and 1X (offline) rewards. 90% credit limit of FD. Additional benefits on fuel and railway transactions (1% fuel surcharge waiver, railway fee waiver).

• Paisabazaar Step UP Card: FD-based card for students; 6.55% interest on FD. 90% credit limit of FD. 1 reward point per ₹100 spent. Entire process is digital. Primarily aimed at students with a declared FD.

• SBI Student Plus Advantage: Student-focused card from SBI. Available only to students with education loans from SBI or an FD with SBI. 1 reward point per ₹100 spent. Redeem points to pay bills. 10X rewards on groceries and hostel purchases. 2.5% fuel and 1% railway booking fee waiver.

• ICICI Coral Contactless: 2 Payback points per ₹100 spent. Up to 25% off twice a month on BookMyShow/Inox tickets (minimum 2). 1% fuel surcharge waiver. Free domestic airport lounge access once per quarter.

• HDFC Bank ForexPlus (Student): Ideal for students studying abroad. Multi-currency prepaid card usable in major currencies (USD, EUR, GBP, etc.). Protects from currency fluctuation. Usable globally for transactions.

• ICICI Student Forex Prepaid: Travel-specific prepaid card. Joining fee ₹499, annual fee ₹199. Includes ISIC membership (worth ₹590) and free travel insurance (worth ₹1600). 40% discount on extra luggage and 20% on DHL courier services.

How to Apply for a Student Credit Card

• Age & Eligibility: The applicant must be at least 18 years old and enrolled in a college. Each bank has its own criteria (e.g., SBI requires an education loan).

• FD-Based Application: Secured credit cards are offered by banks against fixed deposits (FD). You’ll need to open an FD, and you’ll get a credit limit of 80–90% of that amount. It’s a convenient method where your deposit also earns interest.

• Add-On Card: If a close family member already has a credit card, you can apply as an add-on user. The card is issued based on the primary cardholder’s credit history (e.g., parents or siblings).

• Savings Account Transactions: Some banks offer credit cards to students based on good savings transaction records, especially in the absence of a steady income.

• Online Application: Many banks offer online application options for student credit cards. Once eligibility is met, you can apply via the respective bank’s website.

Using a credit card as a student is the first step toward learning financial responsibility. Choosing the right card helps manage spending, gain savings and rewards, and build financial credibility. Learn financial discipline with a student credit card and use it responsibly.

Links to Apply for Credit Cards

Conclusion

Compare student credit cards now and choose the one that matches your academic lifestyle, travel needs, and spending habits.