Here, are the process of how to get a student credit card easily, because many students didn’t get a credit card if they do not have proper income proof or jobs. We will talk about those students who are 18+ and below 24 in age, those who don’t have a salary, income proof, and a proper job.
How they will get a student credit card? What is the procedure to apply for a student credit card? What steps will be taken before applying for the student credit card? What are the term and conditions?
Here we will talk about the proper credit card. Not like the slice, uni Card. Card, which is not applied from the bank. A card issued from the bank is the proper credit card, not like a credit line card.
How to get a student credit card?
1. Card issued for the student or education loan purpose
If you have taken any kind of education loan for higher studies, from SBI bank then you can issue the credit card on behalf of that loan. SBI bank proposes this type of loan for students, in that they have given a credit card called SBI student plus advantage card.
The card for the student helps you to save your spending also it is called a spend smart card. So you can issue this credit card on the behalf of your loan and the bank will easily provide you with this credit card. SBI student plus advantage card is not a forex card so you can’t use it in a foreign, outside of India. This means you can easily spend the money in shopping and doing online transactions.
2. Add-on credit card
Add-on credit cards are credit cards that are issued against a primary credit card. They’re a form of a secondary or supplementary credit card.
This card will be applied when your family member like your father, your mother, or any brother has the proper credit card then you can issue the credit card on the behalf of that card.
If any family member has issued the credit card from a bank then you can issue the credit card by applying as your nominee, for example, if you applied for a card in Axis Bank then the bank will provide a 2 card if the credit card holder has made you as a nominee 1 a privilege card and another as a dummy card and that dummy card can be used by yourself as an add-on card.
You can issue the card on behalf of your family members or guardian with your name on it. In the add-on card.
The limit of the card will be combined with the main card of your family members means the main card of your father has a 1,00,000 limit then the limit of your add-on card will be also 1,00,000.
If any shopping is done from the add-on card or main card of 10,000 then the deduction will be shown on both cards, reducing the amount. The limit will be the same as 90,000 on both cards.
The difference on this card will be the name of the card in which name it is issued.
The benefits of an add-on card are
- The shared credit limit with the primary card
- Easy application process
- Absolutely free up cost
- Single consolidated statement for all card
It’s a simple and second process to issue an add-on card. All banks issued this add-on card like HDFC Bank, Axis Bank ICICI Bank SBI bank just you have to call the repository of the bank and on the behalf of you, they will provide you an add-on card.
3. Pre-approved basis
As many banks provide a student card on a pre-approved basis. Here just you have to fill out the application form as a student and the bank we’ll check your application details which you have provided.
Mainly for the student pre-approved basis is the best way to apply for a student credit card.
For the age between 18 and 24 you can apply on a pre-approved basis. Due to the new profile or a civil score for a student bank also prefers to have a pre-approved basis
It’s a simple and authentic way to apply for a student credit card. If you are new to the credit card then suggest you apply on a pre-approved basis.
Here HDFC Bank will provide more on a pre-approved basis. Where we can suggest you have IDFC’s first bank credit card because they are new in this business.
The main problem with a pre-approved basis is that only the private bank can give you the credit card, not the government bank.
4. Against fixed deposit credit card
If you don’t have a credit history and you are new to the credit line then you can apply for a fixed deposit means an FD card. it’s the best way to start a credit card.
FD means a fixed deposit, which means you have to deposit some amount of money in the bank and the bank will provide you a credit card on behalf of that money limit.
For the Kotak credit card, you have to put a minimum of 10,000 rupees to open the FD and 90% of the amount will be usable, and 10% amount will be in safety where the bank will provide you the interest of 6 to 7% of that amount.
If you want to open a credit card on behalf of a fixed deposit then we suggest you use the one card here, one-card is the best way to take the first step in a credit card. The benefit of a credit card one-card is that you can open the card on the minimum amount of ₹2000.For more information.
To make a good cibil score and a good credit history you can use the fixed deposit as an option. Only in the case of emergency,
you can apply for the fixed deposit because your money will be locked into a bank, and to close you had to first close the card, and then you have to break the Fd.
For more cards which is easy to open provided by non-bank from private corporations just follow this link, Click here