Can students get a credit card? Here’s what you need to know

It can be thrilling and useful for students at the same time who would just start to explore the world of personal finance, but being low income earners with no credit history makes it hard to get one. Being a student credit card first, someone should know what a credit card is before letting him apply for his or her first step toward going credit card hunting.

Benefits of student credit card

• Extended validity: Student credit cards usually have a five-year maximum validity period.
• Free replacement: A replacement is often given for free or little cost when a card is lost or stolen.
• Low maintenance costs: Many student credit cards are affordable because they have no annual fee or membership fees.
• Minimal paperwork: Unlike the traditional credit cards, the application process requires less paperwork.
• Credit score: Making responsible use of a student credit card automatically raises credit score and will create a good credit history.

Eligibility for student credit card

1. Age: Applicant should be 18 years or above.
2. Education: Must be enrolled into a college or university.

Documents required for student credit card

1. Identity proof: PAN card or other government issued identification card.
2. Address proof: Aadhaar card or other government approved residential proof.
3. Certificate: Birth certificate & passport size photographs.
4. Enrolment proof: Identity card issue by university/college.

Best student credit card in 2025

(Source: BankBazaar)

How can students get credit cards?

• Against a fixed deposit: If students open a fixed deposit in their names, they are eligible for a credit card.
• Under an add-on card: If there is any member of the family who has a credit card, he/she can apply for an add-on student-named credit card.
• Based on strong savings habits: Some banks give student credit cards to individuals with a strong history of savings.

Drawbacks of student credit cards

• Lower credit limits: Compared to regular credit cards, student credit cards usually have lower spending limits.
• Higher interest rates: Compared to regular credit cards, student credit cards may have higher interest rates.
• Possible fees: While most student credit cards have low annual fees, late fees, and other undisclosed charges, some may have them.

In conclusion, even though student credit cards are an awesome tool to learn about financial responsibility and develop a positive credit history, the following are reasons to be concerned about getting one. Students should make sure that they are financially literate to avoid debt while understanding the terms carefully, creating a sensible budget, and paying on time.

(Note: Using a credit card carries its own set of risks.)