What are the best credit cards for students Chase with no credit in India?: Everyone wants a credit card since it provides free credit and a monthly interest-free period. On the other hand, the income qualifying conditions make it impossible for everyone to obtain a card.
Getting a card becomes more difficult for students simply because they usually do not have an income unless they own a business or do freelance or part-time employment to supplement their income.
However, only a few Indian banks give credit cards to students without requiring proof of income or IT results.
SBI Student Plus Advantage Card
One of the most popular student credit cards is the SBI student plus advantage card. For starters, at 2.25 percent per month, this card has one of the lowest interest rates available.
Students’ travel arrangements are made more accessible by credit cards, which allows for delivering train tickets to their doorstep.
Furthermore, you have the option to convert any purchase made on the card into monthly EMIs based on your needs. The student receives one cash point for every $100 spent on the credit card, which may be redeemed for presents.
Fuel purchases on the credit card are subject to a 2.5 percent surcharge, making it a good alternative for students who want to learn about money management. “What are the best credit cards for students Chase with no credit in India?”
- This card has no joining fees. If you spend more than Rs.35000 each year, the renewal cost (Rs.500) is waived.
- Also, Cash withdrawals of up to 80% of the credit limit are permitted.
- You’ll get 5% back in value and 10x Rewards points on all department store purchases.
- For every Rs.100 spent, you will receive one reward point.
- There is a Flexipay option for converting credit card bills to EMIs.
- A 25-day interest-free financing period is available. Monthly finance costs of up to 2.25 percent are possible.
ICICI Bank Student Travel Credit Card
The ICICI Bank Student Travel Credit Card is required for Indian students studying abroad. The card may be used to pay application and university fees and meet everyday expenditures when studying abroad.
The card may be used at any retailer that accepts MasterCard, and it can also be used to withdraw cash from one of the 1.5 million MasterCard ATMs worldwide.
The ICICI Bank Student Travel Credit Card also comes with membership in the International Student Identity Card, which grants you access to exclusive discounts and incentives.
- Five currencies can be put on a card: USD, EUR, GBP, AUD, and CAD.
- The card is subject to the FEMA limit.
- The card may be loaded remotely by parents or guardians in India.
- A card may be used for online purchases and physical swipes worldwide.
- Also, Membership in the International Student Identity Card is free.
- This card is only valid for usage outside of India. It is not permitted to use the product in the home.
- Also, It costs Rs.150 to join, Rs.100 to reload, and a cross-currency cost of 3.5 percent + GST.
HDFC Bank ForexPlus Credit Card
Students studying abroad who want funds in multiple currencies can apply for the HDFC ForexPlus Card. The transaction amount will be deducted immediately from the HDFC ForexPlus Card balance, precisely like a credit card.
The card comes in ten different currencies accepted worldwide, allowing you to convert them into the currency of the country you are visiting. It is accepted at any merchant locations that are Visa or MasterCard linked.
When you make a transaction in the card currency, you won’t be affected by market fluctuations. “What are the best credit cards for students Chase with no credit in India?”
- There is no need for documentation. Issuing is a straightforward procedure.
- The cost of the add-on card is reflected in the parent credit card’s monthly statement.
- It is possible to set a sub-limit for the Add-on card.
- The add-on card may be used both online and offline to make purchases.
- Also, Charges for the Add-on card are the same as for the parent card.
HDFC Multi-Currency ForexPlus Card
The HDFC Multicurrency Platinum Forexplus Chip card may be used by students studying in 20 different countries.
This goes above and beyond the essential functions of a Forex card by allowing the student to send money via secure online wallets.
Individuals may use advanced online banking tools to make transactions, track account activity, and control expenditures.
The card has a low credit limit, making it an excellent option for students. This card has 5 lakh fraud insurance, unique bargains, and offers, and a 5 lakh accident cover, offering students peace of mind when they are alone in a new, unknown area.
- Twenty-two different currencies may be loaded.
- Currency exchange is simple over the internet.
- A cash delivery service is available in an emergency.
- Credit card with no contact points.
- Joining costs Rs.500, and reloading costs Rs.75.
- A 2% cross-currency markup is applied.
Bihar Student Credit Card
This credit card is designed for students in Bihar who are pursuing higher education. The initiative was created to encourage students to seek higher education.
A student who has finished class 12th can borrow up to Rs. 4 lakhs using this card, which can be returned once they have completed their schooling and secured a good job.
The government would guarantee the validity of this card. A student can apply for the Bihar Student Credit Card Scheme if they have a co-applicant – either a parent or guardian – who can produce income and stable employment. “What are the best credit cards for students Chase with no credit in India?”
- This initiative is just for students in the state of Bihar.
- This card allows a student to obtain a loan of up to Rs. 4 lakh.
- The government will back up this card.
- This card can be given to students who have completed their 12th grade.
- Also, This card’s whole application is completed online.
Kotak aqua gold credit card
Only the Kotak aqua gold credit card waives train ticket costs based on a fixed deposit. To be eligible for this card, you must have at least 25,000 in fixed deposits with Kotak bank.
It is one of the most acceptable cards for students who travel by rail frequently or spend over $150,000 per year. As a bonus, you’ll receive four free PVR tickets. Overall, this card is excellent for students, except that there are no points for everyday purchases.
- The credit limit is established at 80% of the value of the term deposit.
- Also, Cash withdrawals are interest-free for up to 48 days per year.
- Also, The cash limit is set at 90% of the approved credit amount.
- Complete remission of Rs.3,500 for gasoline purchases and Rs.500 for buying train tickets is granted in a calendar year.
- A simple phone call to the bank is all it takes to transfer your balance.
Secure Credit Cards in India
Fixed deposit accounts qualify for these cards. This could be an excellent alternative for students who want to use their credit cards and are also interested in fixed deposits. You can acquire a credit card limit of up to 40% of the value of your fixed deposit.
Apart from that, consider the following elements of the student credit card:
- Up to the credit limit assigned to them, students can withdraw cash.
- Approval is a given. As long as the consumer may open a fixed deposit account, that is.
- Also, there is no joining or yearly cost.
- On every transaction, students may earn cashback and receive prizes.
Advantages and Disadvantages of a Student Credit Card?
We have already discussed the specifics of student credit cards, such as how to apply, what the rewards are, etc. So, let’s look at the benefits and drawbacks. “What are the best credit cards for students Chase with no credit in India?”
Advantages of a Student Credit Card
- In times of crisis, this is extremely useful.
Because large sums of money cannot be carried everywhere, it is considered highly valuable in the event of any crisis or emergency, such as medical, etc. You may also pay it off in installments. It has been discovered to be the ideal payment method for purchasing pricey things such as expensive books.
- Beginning your credit journey:
A Student Credit Card allows students to experience adults’ paths when using a credit card. It will be advantageous to them in the future to know where the credit card should be swiped and where it should not be swiped so that the charge is not too large.
- Also, Discounts are available:
The discounts offered by a student credit card are often higher than those provided by an adult credit card.
- There is no extensive documentation:
It is not subjected to the extensive documentation that a standard credit card is subjected to.
Disadvantages of a Student Credit Card
- It has both advantages and disadvantages. The main problem is not correctly handling the card and swiping it to purchase meaningless items. If it is not used constructively, the holder may go into debt. If a youngster misses a few payments, they may find themselves in a debt spiral, which is unhealthy.
- Before presenting this card to a child, parents should correctly teach their children how to use it constructively.
What is the proper way to utilize a student credit card?
The fundamentals of responsible credit card usage are straightforward. It can be challenging to put them into practice because they require discipline, but they aren’t rocket science. Here are some guidelines to help you use your credit card correctly:
- Only spend money that you can pay back to the bank regularly.
- If you are a newbie in this industry, start with one credit card and do not apply for more than one credit card.
- Maintain a credit card use rate of less than 30%.
- Also, Set a credit limit or a monthly spending restriction for yourself.
You should only apply for a credit card if it is essential. If you’re looking for a “What are the best credit cards for students Chase with no credit in India?”, make sure to evaluate and contrast the benefits they offer. Choose the most accepted credit card for your requirements.
As a result, you can see that there are a variety of decent student card possibilities. You may pick a card that best fits you based on your spending patterns. You can pay any of these cards’ credit card bills in a couple of minutes.