Is getting a Credit Card recommended?

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blkrb0t

blkrb0t

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I am a student and currently I have a savings account with SBI. I also have a Debit Card linked to that account. Is it recommended that I also get a Credit Card? If so, then what will be the average charges etc.. considering I'll never buy more than what I have in my account, but use it only to buy stuff online where Credit Card is a necessity.
 
HDFC has some thing , that you can create a CC from you account .This could be one time use .So every time you want to purchase ,you can go to your savings bank account and create a temp CC and use it and it will be safe also .I am not sure what it is called . checkout.

EDIT : virtual card (NetSafe Card) from your HDFC Bank MasterCard
 
Well...you can get credit card but I'd not recommend, as students(even adults) often can't decide and make purchases thinking "baad me pay karna hai".

If you do online purchases almost everything now allows pay though net-banking, you can consider that by applying net-banking if you don't have one already.

You may also consider Yuva Card, it's a VISA Debit Card which can make your life easier.

For more about CC's you can take a look here Credit Cards | SBI Bank Credit Card India | Online Credit Card Payment - SBI CARD and can check the requirements you need to meet for getting a CC.

One more thing, I'd like to mention, I was also in the same position as yours because many sites till now accepts only CC's, in that case you can consider http://www.b2.icicibank.com/ which will solve your problem.

Read this threads for more information : http://www.techenclave.com/general-talk/icici-b2-banking-true-internet-banking-125028.html

http://www.techenclave.com/general-talk/which-credit-card-175995.html

http://www.techenclave.com/general-talk/suggest-credit-card-170898.html
 
Does ICICI B2 banking provide us with cards that work with Paypal??

Indian Debit Cards don't work with Paypal.
 
I recommend you to get a CC as it is really useful. But you need to make sure that you can afford it.

Because once you do have a CC, I don't think your annual expenditure will be less than 30-50k per annum, at the bare minimum. But that depends on how you use it.
 
Please get a CC. It allows you to spend more than you earn. You can also pay back in easy EMIs with very low interest rate of just 2.99% only!!

Srsly - Get a CC. Pay each bill in full. Do not carry forward any amount. If you do end up in financial trouble, get a tattoo saying "IM A RETARD" on your forehead.
 
Well CC certainly has many many advantages if used with proper care, like 3-6 month interest free emi's we have in ebay for example. Also, with reward points, cash backs and other offers, you do gain some more advantage each month.

Whether to get one or not, entirely should be your decision. If you can take proper care not to overspend, then certainly yes.
 
nehaladsul said:
Does ICICI B2 banking provide us with cards that work with Paypal??

Indian Debit Cards don't work with Paypal.
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Its a Virtual Card and it used to work with Paypal and I have used it to make few payments too. But this was an year back, don't know the situation now.
 
Please get a CC. It allows you to spend more than you earn. You can also pay back in easy EMIs with very low interest rate of just 2.99% only!!
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Dude. Seriously. This is your advice to a student.

Get a CC if you can afford it. I recommend you get it after you start earning. Make sure you insist on having a credit limit that you think can pay in a month. And always try to pay the CC bills on time. You dont have to pay any extra charges for that. Some premium cards like titanium and platinum may charge you annual fee. But its very unlikely they give it to students. Dont make it a habit to delay the payments.
 
Students should not get a credit card... There is a very high possibility that the plastic money might get to his head and might spend way more than what he can afford (no hard feelings man).
Trust am talkin with experience, my dad was really cool and paid my huge bill but would not try that ever again and would not advice anyone to try it either.

SO NO CC TILL U START EARNING
 
@OP:

If you only want the CC for online transactions -- you can always use your parents card or seek help from an elder cousin/sibling. It is just a matter of being able to pay back the amount, which at times can slip ones mind. For salaried people it is not that much of an issue, cause ever 30th , :) , they receive a fresh influx and are more capable of paying of the interest or principal amount.

Though if you still trust your self and have mature spending habits (welcome to adulthood) of course you can go for a credit card. Will teach you a few lessons about money management (no sarcasm here). Learn and be more proficient in the future.
 
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