Credit Cards for Students: Eligibility and Application Process

Credit card

21/04/2025

Understanding Eligibility and the Application Process for Student Credit Cards
A simple way for students to manage their finances and take advantage of attractive benefits.

Credit cards are becoming increasingly popular among students. Not only do they help with personal financial management, but they also offer many other advantages. However, many young people remain unsure about the eligibility criteria and the process for applying for a student credit card. To clarify these points, VPBank is here to guide you through the application process, making it as simple and quick as possible.

1. Can students apply for a credit card?
In theory, students often do not meet the criteria to apply for a credit card due to unstable income and lack of collateral. However, with growing spending needs, many banks have introduced supportive policies to help students obtain credit cards more easily.

Students can open credit cards for daily spending

However, when applying for a student credit card, it’s important to have a solid financial plan and manage spending carefully to avoid falling into uncontrolled debt. Students should think carefully before deciding to get a credit card and use it wisely and responsibly.

2. Benefits of Student Credit Cards

Many students today choose to use credit cards because of the following advantages:

Financial Flexibility: Credit cards help students plan their spending and manage personal finances more effectively.
Reduced Financial Pressure: Credit cards support payments for tuition, rent, and living expenses, easing money-related stress.
Convenient Shopping: Students can pay safely and easily at over 25 million card-accepting locations nationwide and internationally.
Attractive Rewards: Students can enjoy cashback programs, interest-free periods, and special promotions offered by the bank when using their credit cards.

Benefits for students when opening a credit card

3. Eligibility, Documents, and Application Process for Student Credit Cards

To better understand the eligibility and how to apply for a student credit card, please note the following information:

3.1 Eligibility and Required Documents

Currently, banks generally require the following basic conditions to issue a student credit card:

Students must be in their third year or above at universities listed by the bank.
Students must have a monthly income of at least VND 4,500,000 or own assets such as a registered motorbike, savings book, etc.
Academic performance must be a GPA of 7.0 or higher.
Other requirements may vary depending on the bank.

Documents and paperwork needed to apply for a student credit card include:

ID card / Citizen ID / Passport (both original and photocopy for verification).
Household registration book photocopy (if required).
Salary statement and employment contract copies (if applicable).
Photocopy of university transcript with the official red stamp.
Registration papers for a registered motorbike (if applicable).
Student credit card application form, provided by the bank upon request.

Requirements and procedures when open credit cards for students

3.2. Credit Card Application Process

The process for students to apply for a credit card generally includes the following steps:

Step 1: Prepare all required documents and the credit card application form as listed above.

Step 2: Research different banks and the types of credit cards designed specifically for students. Then, choose the bank and card that best suit your financial needs and capabilities.

Step 3: (Note: You skipped Step 3, so I’m numbering properly) Submit your complete application in person at the chosen bank. Bank staff will guide you through completing the necessary procedures.

Step 4: The bank will review and assess your application. If approved, the bank will issue your credit card and send it to you. Delivery typically takes 7 to 10 business days, depending on the bank.

Step 5: After receiving the card, activate it via phone or the bank’s online app to start using it.

4. Which Bank Should Students Choose for a Credit Card?

One of the most popular and reliable banks for students applying for credit cards is VPBank. With excellent policies and credit card products tailored to student needs, VPBank is an ideal choice to help students manage their finances proactively and enjoy attractive benefits.

Go to VPBank to register for a credit card

Currently, VPBank offers credit cards specifically designed for students, with accessible requirements. This makes it easier for students to own a credit card even while still in school.

Moreover, VPBank’s student credit cards come with suitable credit limits, giving you greater financial flexibility and peace of mind when managing everyday expenses.

5. Frequently Asked Questions About Student Credit Cards

During the application process, many students have common concerns. Below are quick answers to some of the most frequently asked questions:

Can students without income apply for a credit card?
Typically, banks require a stable source of income to issue a credit card. However, if a student does not have income from a job, they may still be eligible by providing collateral—such as a registered motorbike, a savings account—or having a guarantor. Approval depends on the specific policies of each bank.

Do I need to update my information with the bank after graduation?
Yes. Once you graduate and experience changes in your job, income, or address, you should update your information with the bank. This ensures your profile stays accurate and that you continue to receive appropriate services. Keeping your information current also helps the bank assess your financial situation and adjust your credit limit if needed.

Proceed to update the necessary personal information

What is the credit card limit for students?

The credit limit for students is usually not too high, usually ranging from 1,000,000 VND to 50,000,000 VND depending on the bank and the financial conditions of each student. This limit helps students easily manage their spending without worrying about exceeding their payment capacity.

6. Important Notes for Students Using Credit Cards

When using a credit card, students should pay attention to the following key points:

Carefully read the terms, fees, and interest rates to avoid unexpected risks.
Plan your spending wisely and use the card only for essential purposes.
Manage your expenses to ensure timely payments, avoiding late fees and protecting your credit history.
Keep your card information confidential to prevent fraud or unauthorized use.
Explore promotional programs and fee structures to make the most of your credit card benefits.