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Credit Card: These 4 banks are offering credit cards without any annual fees

Student credit cards are offered in two ways. One is a supplementary card issued to the primary credit cardholder. It allows sharing most of the benefits of the primary card without the need for a separate joining fee or annual fee.

If you are a student, being unemployed and not having a credit history can be a hindrance to getting a credit card. However, there is a way to get it. Broadly speaking, there are two options for a student to get a credit card. The first is to get an add-on card to the credit card held by the parents and the second is to get a credit card against a fixed deposit (FD) account.

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Benefits of Student Credit Card

  1. This helps you build a good credit score which is necessary to avail a loan later.
  2. Most student credit cards help you earn reward points on every purchase. These points can be redeemed for cash, vouchers and air miles.
  3. This also provides credit card holders financial backup in case of emergency.

Student credit cards are offered in two ways. One is a supplementary card issued to the primary credit cardholder. It allows sharing most of the benefits of the primary card without requiring a separate joining fee or annual fee. It can be provided by parents to children as a financial facility and is useful for times when they need to handle their expenses on their own. The other option is to offer a credit card against a fixed deposit (FD).

These banks are giving offers

IDFC First Bank Wow Credit Card:

IDFC First Bank offers FD-backed assured credit cards. No credit history and income proof is required. The minimum age criteria to apply for this credit card is 18 years. These cards have features like no forex conversion charges, 4X reward points on spends and ATM cash withdrawal limit of 100 percent of the FD value.

ICICI Bank Student Credit Card

ICICI Bank offers the option of taking a student credit card against a fixed deposit (FD) guarantee and an add-on card. The minimum value of the FD should be ₹50,000. The ICICI Bank website shows that there are generally no joining or annual fees on student credit cards.

Axis Bank Student Credit Card

Axis Bank also offers credit cards without income proof, i.e. credit cards for students. The documents for student credit card are much simpler than those required for a normal credit card.

Kotak Mahindra Student Credit Card

These cards are offered with zero annual fee, interest-free cash withdrawal and 2X rewards. These cards are known as 811 #DreamDifferent Credit Card. It can be started through a fixed deposit in Kotak Bank and can be operated at zero annual fee.

 

Jyoti
Jyoti
Jyoti, has 2 years of experience in writing Technology Content, Entertainment news and more. He has done BA in English. He loves to read books in free time. In case of any complain or feedback, please contact me @themoneyplans.com@gmail.com
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