A student credit card is intended to meet college students' needs in terms of finances. These consist of all the typical attributes of a credit card, such as interest-free periods, discounts, and reward points. These credit cards are a great tool for teaching kids about money management and the foundations of building creditworthiness. They are available in secured and entry-level variations.
Prominent card providers are offering student credit cards to applicants who are at least eighteen years old.
The benefits of student credit cards:
In comparison to other bank-issued credit cards, student credit cards have a smaller credit limit. A student credit card typically has a Rs. 15,000 credit limit. This is done to make sure that the cardholders' reckless spending doesn't result in debt.
Typically, student credit cards have a five-year validity period from the date of issuance, while conventional credit cards have a three-year validity period.
A replacement credit card would be provided for free or at a very small cost if the student credit card holder misplaces or loses their card.
Student credit cards are typically easier for students to keep open because they offer very cheap yearly fees and no membership fees.
Students may learn sensible money management with the SBI Student Plus Advantage Credit Card. Great features like the opportunity to convert all purchases to EMIs and a fuel fee of up to 2.5 percent on all fuel purchases charged to the card are included with the card, which is specifically built with students in mind.
Additionally, the card offers a strong rewards program. For every Rs. 100 spent, the cardholder earns one cash point, which may be exchanged for a variety of presents or used to settle any outstanding credit amount.
The card has a low monthly interest rate of just 2.25%.
Train tickets purchased with the card will be sent right to the cardholder's door, making travel arrangements and ticket arrangements simple and quick
July 24, 2024
