Since 2009, college students are not allowed to apply for credit cards.

However, due to the frequent incidents of campus loans and naked loans, the state requires banks to open credit card services for college students.

In June 2017, the China Banking Regulatory Commission, the Ministry of Education, and the Ministry of Human Resources and Social Security jointly issued the "Notice on Further Strengthening the Standardized Management of Campus Loans", requiring the main door to be opened to allow regular bank troops to return to campus. Against this background, major banks quickly made relevant business adjustments and successively launched new credit card services for college students to provide standardized credit services to college students and help them establish a healthy consumption credit concept.

1. What is the use of credit cards for college students?

1. Establish credit: College students can use credit cards to overdraft consumption and repayment, and establish a credit record during the student stage. A good credit record will help you apply for a card or loan in the future

2. Enjoy discounts: College student cardholders can participate in the bank's preferential activities, such as card swiping bonus, points exchange for gifts, etc.

3. Safe consumption: When you need money urgently, there is no need to borrow campus loans. There is no risk of rolling profits. Credit cards from regular major banks are more secure

4. Credit cards can be used as reserves: After the credit card is activated, if no consumption is made, no fees will be charged. The funds in the card can be used as emergency reserves

5. Free cash withdrawal: Generally, there is a handling fee for excessive cash withdrawals from credit cards. College students can withdraw excess cash from credit cards for free, making it easier for students and their parents to save money.

2. The following types of credit cards are currently more suitable for students.

1. China Merchants Bank’s “Young Card”

2. China CITIC Bank’s “I Card”

3. Industrial and Commercial Bank of China’s “Peony Student Card”

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4. China Construction Bank’s “Long Card Student Card”

5. Agricultural Bank of China’s “Excellent Card”

6. Bank of China’s “Bank of China City Card”

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7. "Fantasy Card" issued by Guangdong Development Bank

3. Steps for college students to open a bank

1. The state requires banks to open credit card processing services for college students. However, due to students’ limited financial ability, banks generally do not approve it. Therefore, if you are unable to obtain proof of finances, you must choose a suitable date to apply for a credit card.

2. Banks usually organize activities for students at the beginning of school or at major festivals. At this time, you must seize this opportunity and carefully ask the bank staff who go to your school.

You can also log in directly to the Kashenhuo financial service platform. The platform cooperates with China Merchants Bank. College students are more than welcome to apply for a credit card online. The pass rate is very high!

3. When applying, be sure to ask clearly about the calculation of the credit card annual fee, overdraft amount, repayment period, and withdrawal fees.

4. After filling in your information carefully, bank staff will copy your ID card, student ID card, etc. Note that you should expect a call within the next few weeks. If you're lucky, your credit card will be approved. As for the credit limit, it is generally not high. don’t worry. The credit card limit can be gradually increased through later use and card maintenance.

5. When you get a credit card, the bank usually gives it to you in three ways: express delivery, sending it to you from the school, or calling you to pick it up at the bank. After receiving the credit card, just follow the method specified by the bank to open the card. Be careful when overdrafting your credit card.