For students stepping into higher education, managing finances can be one of the most challenging yet crucial aspects of their new independent lives. While budgeting apps and part-time jobs offer some solutions, a student credit card presents a compelling alternative for efficient money management. Among various providers, the Bajaj Finserv RBL Bank Credit Card and Bajaj Finserv DBS Bank Credit Card stand out as some of the best credit cards in India for students. Here are the top five reasons why every student should consider a student credit card:
1. Building a Credit History Early
Your credit score plays an essential role in your financial health, influencing your ability to secure loans, rent an apartment, and even sometimes affecting job applications. A student credit card is an excellent tool for building this vital asset early on. By using your credit card responsibly, i.e., making timely payments and keeping your utilization rate low, you can lay a strong foundation for a good credit history. The Bajaj Finserv RBL Bank Credit Card offers user-friendly credit-building tools, making it easier for students to track their spending and maintain a good credit score.
2. Learning Financial Responsibility
A student credit card fosters a sense of financial responsibility. Managing a credit card requires careful planning and monitoring of expenses, which are imperative skills for anyone. When students keep track of their spending and ensure they don’t go over their budget, they learn valuable lessons in financial discipline. Bajaj Finserv co-branded credit cards make this process easier with their intuitive online tracking features and low spending limits, which help students stay within their budgets.
3. Emergency Financial Backup
Unexpected situations can arise during your college years, demanding immediate financial attention. Whether it’s medical expenses, travel emergencies, or sudden academic expenditures, having a student credit card can be a significant relief. Bajaj Finserv DBS Bank Credit Card, for instance, offers high credit limits and flexible repayment options, providing a robust financial backup for students in times of need. This financial safety net can prevent students from falling into a more precarious situation where they might have to take expensive short-term loans.
4. Tapping into Rewards and Benefits
One of the significant advantages of having a student credit card is the access to various rewards and benefits. The Bajaj Finserv credit cards offer a plethora of incentives such as cashback, reward points, and discounts at selected merchants. For instance, the Bajaj Finserv RBL Bank Credit Card offers exclusive rewards on transactions related to movies, dining, and online shopping. On the other hand, the Bajaj Finserv DBS Bank Credit Card provides discounts on travel bookings and lifestyle products, making it easier for students to indulge in some luxuries without depleting their finances.
Benefits of Co-branded Credit Cards Offered by Bajaj Finserv
Bajaj Finserv’s co-branded credit cards, such as the Bajaj Finserv RBL Bank Credit Card and Bajaj Finserv DBS Bank Credit Card, not only cater to financial discipline and credit building, but they also enhance the user experience through a variety of co-branded benefits:
1. Attractive EMI Options:
Both Bajaj Finserv RBL Bank and DBS Bank Credit Cards offer convenient EMI conversion options, making it easier for students to finance larger purchases without straining their monthly budgets. This is particularly useful for buying electronics, paying tuition fees, or even booking travel tickets.
2. Fuel Surcharge Waiver:
These co-branded credit cards offer fuel surcharge waivers at selected fuel stations across India, helping students save on their transportation costs.
3. Easy Reward Redemption:
Points earned through transactions on these credit cards can be easily redeemed for a wide array of options, from merchandise and gift vouchers to statement credit, enabling a richer experience of tangible rewards.
4. Travel and Lifestyle Offers:
Cardholders can take advantage of special deals on travel bookings, hotel stays, dining, and shopping, contributing to a more enjoyable and lavish student life without breaking the bank.
5. Comprehensive Security Features:
These co-branded credit cards boast advanced security features like zero-fraud liability and instant card-locking mechanisms, offering peace of mind to students and their parents.
Convenient Application Process
Applying for a student credit card like the Bajaj Finserv co-branded cards is straightforward. Students can follow these steps:
1. Online Application:
Visit the official Bajaj Finserv website or mobile app and navigate to the credit card section.
2. Fill the Application Form:
Complete the online application form with basic personal and financial details.
3. Submit Documents:
Upload required documents such as identity proof, address proof, and proof of enrollment in a college or university.
4. Verification Process:
The bank will review your application and conduct necessary verifications.
5. Acceptance and Dispatch:
Upon approval, the card will be dispatched to your registered address.
Conclusion
In conclusion, a student credit card not only helps in managing day-to-day expenses efficiently but also lays the groundwork for financial literacy and responsibility. Bajaj Finserv RBL Bank and DBS Bank Credit Cards are among the best credit cards in India, loaded with features tailored for students. From building a robust credit history to enjoying exclusive rewards, these cards offer numerous advantages that can greatly benefit students in their educational journey. So, go ahead and make a wise financial decision by opting for a student credit card.
