Credit Cards

Before availing astudent credit card, make sure to check out the eligibility norms. Though it may vary across companies, certain norms remain common. For example, you need to be 18 years or above and should be a student.

Once you meet the eligibility criteria, you need to fill up the credit card application form and furnish basic KYC documents related to your identity and address. Therefore, make sure to get primary KYC documents such as Voter’s Card, Aadhaar Card, PAN Card, etc., beforehand.

Also, before opting for a student credit card, do compare offerings from multiple issuers. There are several aggregator portals that help you compare offerings from different card issuing companies. While comparing, do check out the cap on credit limit, processing fees, late payment charges and the billing cycle, among others.

It’s financially prudent to opt for a card with lower charges and penalties. This is because as a student, it can be difficult to pay high-interest penalties on credit cards. Note that penalties on credit card dues are one of the highest in the realm of personal finance.

If you’ve opted for an educational loan from a financial institution, check if it offers astudent credit card. If yes, there are chances of bagging a good offer as the lender is familiar with you and your financial positioning. It gives you the power to negotiate on parameters such as processing fee, card limit and even the billing cycle.

Today, almost all lenders have an online provision whereby you, as a student, can apply for astudent credit card. Log into the lender’s website, fill-up the credit card application form, upload the documents and within a few days the credit card reaches you. In case of any difficulty, you can get in touch with the helpdesk of your card issuing company.

While astudent credit cardgives you instant access to funds to fulfil your requirement, make sure to use it wisely and build a strong credit score and credit history. A consolidated score can help you procure big-ticket loans in the future for fulfilling various needs.

At Aditya Birla Capital, we offer you a gamut of solutions for all your money-related needs . Get in touch with us to know more.

The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product.  Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.