How are young Indians using student credit cards?

Young Indians are using student credit cards to manage everyday expenses and build a credit history even before landing their first job.

What are the benefits of student credit cards in India?

Student credit cards offer convenience, rewards like cashback, and crucially, help establish a credit score necessary for future financial applications.

Can students get a credit card without income proof in India?

Yes, some student-focused credit cards, like the IDFC FIRST WOW! Credit Card, allow access to credit without income proof by backing the card with a fixed deposit chosen by the student.

Home / Business and Economy / Young Indians Build Credit Early with Student Cards

Young Indians Build Credit Early with Student Cards

11 Feb

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Summary

Student credit cards offer convenience and rewards for everyday spending.
Responsible use establishes a credit score for future financial needs.
Some cards allow credit access without income proof via fixed deposits.

Young Indians Build Credit Early with Student Cards

Young Indians are increasingly utilizing student-friendly credit cards to establish creditworthiness early in their academic careers. These financial tools are transforming from being exclusive to salaried professionals into accessible instruments for college students to manage daily expenses and build a foundational credit score.

Banks are introducing student credit cards with low entry barriers, zero annual fees, and controlled limits, positioning them as early financial learning tools. Beyond convenience and rewards like cashback and discounts, responsible credit card use is vital for developing a credit history essential for future loans and rental agreements.

Products like the IDFC FIRST WOW! Credit Card exemplify this trend, offering features such as no joining or annual fees and interest-free cash withdrawals. Crucially, these cards can be secured against a fixed deposit, allowing students to access credit without income proof while managing risk.