Student Credit Card: & nbsp; Credit card can be beneficial for students who recently stepped into the world of personal finance. However, due to no income or less and lack of credit history, many times the credit card is not easily found. It is very important to know about its advantages and disadvantages before applying for student credit card. & Nbsp;
Benefits of Student Credit Card
- Its validity is usually up to five years.
- If the card is lost or stolen, the replacement is either done for free or it takes a little money. & Nbsp;
- They are also economical because it neither takes any annual fee and has to spend something on the membership fee. & Nbsp;
- Paper action in its application process is less than the normal credit card. & Nbsp;
- Since the student credit card is used very carefully, the credit score increases on its own. & Nbsp;
Student credit card shortcomings
- The limit to spend in student credit card is less than common credit card. & Nbsp;
- It also has the higher interest rate. & Nbsp;
- There are some students credit cards, for which a little bit of an annual fee is to be repaid, it seems late or some also contain hidden charges. & Nbsp;
- Who can apply for student credit card
- Those whose age is at least 18 years or more
- Name should be filed in a college or university
Documents to apply
- PAN card, voter card or Aadhaar card will be required as an identity card
- Aadhaar card as address proof or approved residential proof by the government will be required
- Birth certificate or passport size photograph will be required. & Nbsp;
- ID card of college or university will be required. & Nbsp;
disclaimer: (Here information provided is being given only for information. It is necessary to tell here that the investment market is subject to risks. Always consult expert before investing money as investor. No one is ever advised to invest money from side.)
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