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.
Student credit card | Annual fee |
---|---|
HDFC Bank ForexPlus Card | No fee |
MNSSBY Bihar Student Credit Card | No fee |
West Bengal Student Credit Card | No fee |
HDFC Bank ISIC Student ForexPlus Chip Card | No fee |
ICICI Bank Student ForexPrepaid Card | ₹499 + GST |
IDFC Wow Credit Card | No fee |
(Source: BankBazaar)
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.)
Catch all the Instant Personal Loan, Business Loan, Business News, Money news, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.