Applying for a student credit card online: FIRST WOW! Credit Card

Managing finances seems like a challenge when you are a student. Balancing your academics, extracurricular activities, and personal expenses is no doubt a huge task.

Student Credit Cards in India can be a great companion in your student journey. They help you build financial independence and establish a good credit history from a young age. In this comprehensive guide, we'll explore the importance of selecting the right Credit Card for students and how the FIRST WOW! Credit Card can enrich your educational journey.

The importance of selecting the right student Credit Card in India

Choosing the right student Credit Card can be confusing, but it is important for several reasons. First and foremost, it helps you build a credit history, which is essential for future financial decisions such as securing a loan, renting an apartment, or even landing certain job opportunities. On top of that, a Credit Card can provide financial flexibility and help you manage educational expenses during your academic life.

But not all Credit Cards are created equal. Many traditional Credit Cards require a steady income or credit history, which can be a barrier for students who may not have either. Ideally, you should look for a Credit Card for students with no income. That's where the FIRST WOW! Credit Card stands out.

The FIRST WOW! Credit Card is a student-friendly option, as it does not require any proof of income or credit history. This makes it accessible to students who may not have a steady income or an established credit profile. The eligibility criteria are straightforward – applicants must be at least 18 years old and qualify as Indian residents.

Features and benefits of the FIRST WOW! Credit Card

The FIRST WOW! Credit Card is designed specifically for students. It brings a host of features and benefits that make it the best Credit Card for students in India. One of the most significant advantages is that it doesn't require any income proof or credit history, making it accessible to students who may not have either.

• One of the key advantages of the FIRST WOW! Credit Card is that it is a lifetime-free Credit Card, with no joining or annual fees. Students can enjoy the benefits of a credit card without worrying about recurring charges
• The card offers zero foreign transaction fees, making it an ideal companion for students who travel or study abroad
• Cardholders earn 4X reward points on every purchase, which can be redeemed for discounts, cashback, or other rewards
• The card offers an attractive interest rate of 7.5% per annum on the Fixed Deposit (FD) account required to secure the card

Along with these rewards, the FIRST WOW! Credit Card provides many privileges and conveniences tailored to students' needs.

• Cardholders can enjoy up to 20% off at over 1,500 restaurants across India, as well as discounts at health and wellness outlets
• The card also offers roadside assistance, personal accident cover, and lost card liability cover, offering peace of mind for students on the go

One of the standout features of the FIRST WOW! Credit Card is the ability to withdraw up to the full value of the FD account, while still earning interest on the deposit. This flexibility can be invaluable for students facing unexpected expenses or emergencies.

The card also offers the convenience of converting larger transactions into easy Equated Monthly Installments (EMIs). EMIs make it easier for students to manage their finances.

Eligibility criteria and application process

To be eligible for the FIRST WOW! Credit Card, you must meet the following criteria -

• Be 18 years of age or above
• Qualify as an Indian resident
• Hold a Fixed Deposit account in cumulative, re-invest, and auto-renew mode with a minimum deposit of ₹10,000

How to apply for a student Credit Card online, you ask? The application process for the FIRST WOW! Credit Card is quite straightforward and can be completed entirely online. IDFC FIRST Bank offers a paperless mode to apply, and the process involves three simple steps

• Register and verify your details on the IDFC FIRST Bank official website
• Head over to the ‘Credit Card’ section and choose ‘FIRST WOW! Credit Card’
• Choose and fund your Fixed Deposit
• Complete your KYC (Know Your Customer) process

Once you've completed these steps, your FIRST WOW! Credit Card will be ready for use.

Tips for responsible Credit Card usage for students

While student Credit Cards in India offer convenience and financial flexibility, they must be used responsibly to avoid accumulating debt and damaging the credit score. Here are some tips for responsible Credit Card usage for students -

• Understand your credit limit and avoid maxing out your card
• Pay your bills on time to maintain a good credit score
• Monitor your spending and keep track of your expenses
• Use your Credit Card for essential expenses only
• Avoid cash advances and balance transfers, which often come with high fees
• Build an emergency fund to avoid relying too heavily on your Credit Card

FIRST WOW! Credit Card empowers students in managing their finances

With its student-friendly features and benefits, this Credit Card is a must-have companion for any student looking to manage their finances effectively and build a solid credit history for their future financial well-being.

• Save on international purchases

The FIRST WOW! Credit Card charges no extra fees when you use it overseas, so you can shop abroad without incurring hidden costs.

• Get deals on the things you need

The FIRST WOW! Credit Card offers discounts and cashback at hundreds of stores, both online and in-person. This helps you save money on clothes, electronics, and other student essentials.

• Build your credit for the future

Using your FIRST WOW! Credit Card responsibly and build a strong credit history, making it easier to get approved for loans and other credit products after graduation. This also allows you to upgrade to a better credit card in the future.

A Credit Card that takes care of all student needs

The FIRST WOW! Credit Card helps you learn to manage money wisely and build a good credit score for the future. Since it's linked to a fixed deposit, you won't overspend. Plus, you can track everything with the IDFC FIRST Bank banking app. Choose one of the best Credit Cards for students in India by getting started with the FIRST WOW! Credit Card today!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.