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How to apply for credit card for student?

Date: 29 Mar 2015   Posted By: Paresh Gujarati     Group: Finance & Banking    Category: Banking   

I am PhD student getting Rs. 25000/- as stipend or scholarship. I want to apply for credit card. I have approached SBI branch for credit card issuance but they refused to do so, stating students are not eligible for any credit card. One can permit based on fixed deposit money.

I have not any experience of credit card eligibility by private bank. Do you know how to approach them? What are the terms and conditions for it?

Do you wish to apply for a student credit card? Find out if this is possible and the eligibility criteria & documents required for it.

Author: Timmappa Kamat    31 Mar 2015      Member Level: Platinum     Points : 2  (Rs 2)    Voting Score: 0

Student credit cards are offered to students in India with some special features like low interest rates, no income eligibility limit, no joining or annual fees and such offers.
You can avail student credit card in one of the following ways-
1. Against fixed deposits
You need to open a fixed deposit account with the bank from which you wish to avail the card. the credit limit depends on the amount of fixed deposit. SBI has one such card on offer. Visit your nearest SBI branch to enquire of the facilities.
2. ADD-On cards
Another better method is to get add-on cards on the existing credit cards held by your parents. These cards come in the name of the student, but payment liability is on the parents.

Author: Mukhtar    06 Apr 2015      Member Level: Gold     Points : 3  (Rs 3)    Voting Score: 0

State Bank Of India is the only only bank in India which gives SBI Student Plus Advantage Card to student of India.

You can view all the details on SBI Website

You have one more option to keep a fix deposit in Axis, ICICI or HDFC and take Credit Card against that FD. Minimum amount for this type of FD is 25000.00.

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