Are you a student looking to navigate the world of credit cards? Look no further! We’ve curated a list of the best credit cards for students to help you make an informed choice.
Whether you’re aiming to earn cashback, build credit, or enjoy introductory APR offers, there’s a card here for you. Let’s dive into the details:
1. Discover it Student Cash Back
Best Student Card Welcome Bonus
- Credit Score Required: Fair/New to Credit
- Annual Fee: $0
- Welcome Bonus: Cashback Match
- Reward Rate: Up to 5%
This card shines with its exceptional cashback rewards and a unique Cashback Match offer. Earn up to 5% cash back on everyday purchases at rotating categories like Amazon.com, grocery stores, restaurants, and gas stations. Plus, there’s no annual fee!
2. Bank of America Customized Cash Rewards credit card for Students
Best Student Card with Introductory APR
- Credit Score Required: Excellent/Good (750 – 850)
- Annual Fee: $0
- Welcome Bonus: $200 bonus
- Reward Rate: Choose your 3% category
If you have a good credit score, this card offers an enticing combination of cashback rewards and a generous $200 bonus. You get to pick your 3% cashback category, making it highly customizable to your spending habits.
3. Bank of America Travel Rewards credit card for Students
Best for Study Abroad
- Credit Score Required: Good/Excellent (700 – 749)
- Annual Fee: $0
- Welcome Bonus: 25,000 bonus points
- Reward Rate: 1.5X Points
If you’re planning to study abroad or simply love to travel, this card is a great fit. Earn 1.5 points per $1 spent on all purchases with no expiration on points. Plus, the 25,000 bonus points offer can kickstart your travels.
4. Bank of America Unlimited Cash Rewards credit card for Students
Best Balance Transfer Card for Students
- Credit Score Required: Good/Excellent (700 – 749)
- Annual Fee: $0
- Welcome Bonus: $200 bonus
- Reward Rate: Unlimited 1.5% Cash Back
If you’re looking to transfer balances and save on interest, this card offers a $200 bonus and unlimited 1.5% cash back on all purchases, making it an attractive option for students aiming to manage their debt.
5. Discover it Student Chrome
Best for Road Trips
- Credit Score Required: Fair/New to Credit
- Annual Fee: $0
- Welcome Bonus: Cashback Match®
- Reward Rate: Up to 2%
If you enjoy hitting the road, this card offers 2% cash back at gas stations and restaurants (up to $1,000 in combined purchases each quarter). The Cashback Match ensures your rewards double in the first year.
6. Capital One Quicksilver Student Cash Rewards Credit Card
Best for Students with No Credit
- Credit Score Required: Average, Fair, Limited
- Annual Fee: $0
- Welcome Bonus: $50
- Regular APR: 19.99% – 29.99% (Variable)
This card is an excellent choice for students with limited credit history. It comes with a straightforward $50 welcome bonus and a flat 1.5% cashback rate on all purchases.
7. Capital One SavorOne Student Cash Rewards Credit Card
Best for Off-Campus Students
- Credit Score Required: Average, Fair, Limited
- Annual Fee: $0
- Welcome Bonus: $50
- Reward Rate: Up to 10%
If you’re living off-campus and enjoy dining and entertainment, this card offers a tempting 10% cash back on Uber and Uber Eats, plus 3% cash back on dining.
FAQs About Student Credit Cards
What is a student credit card, and who can apply for one?
A student credit card is designed for college students or individuals with limited credit history. These cards typically have lower credit requirements, making them accessible to students. To apply, you usually need to be at least 18 years old and have a source of income, even if it’s from a part-time job or financial aid.
Why should I get a student credit card?
Student credit cards can serve several purposes. They help you build a credit history, which is important for future financial endeavors like renting an apartment or getting a car loan. Additionally, they often come with rewards or cashback, which can save you money on your everyday expenses.
What credit score do I need to qualify for a student credit card?
Student credit cards typically have lower credit score requirements compared to regular credit cards. Many are accessible to individuals with fair or limited credit scores. However, the specific requirements can vary by card issuer, so it’s essential to check the eligibility criteria for the card you’re interested in.
Are there any fees associated with student credit cards?
Many student credit cards have no annual fees, which is beneficial for students on a budget. However, it’s crucial to read the terms and conditions carefully, as some cards may have fees for late payments or foreign transactions.
How do I use a student credit card responsibly?
Responsible credit card usage is key to building good credit and avoiding debt. Here are some tips:
- Pay your bill on time and in full each month to avoid interest charges.
- Stay within your credit limit.
- Monitor your spending and budget wisely.
- Avoid cash advances, as they often come with high fees and interest rates.
- Keep an emergency fund for unexpected expenses, rather than relying on your credit card.
What is a “Cashback Match” or similar welcome bonus?
Some student credit cards offer welcome bonuses where the card issuer matches the cashback or rewards you earn during your first year. For example, if you earn $100 in cashback, you’d receive an additional $100 as a bonus. It’s a great way to maximize your rewards in the first year.
Can I upgrade from a student credit card to a regular credit card?
Yes, as you build your credit history and improve your credit score, you can often upgrade to a standard credit card with better rewards and features. Contact your card issuer to inquire about the eligibility criteria and the possibility of upgrading your card.
What happens if I miss a payment on my student credit card?
Missing a credit card payment can have negative consequences, including late fees and potential damage to your credit score. It’s essential to pay your bill on time. If you miss a payment, try to catch up as soon as possible to minimize the impact on your credit.
Are there any foreign transaction fees with student credit cards?
Some student credit cards charge foreign transaction fees, typically around 3% of each international transaction. If you plan to study abroad or travel frequently, consider a card with no foreign transaction fees to save on currency conversion costs.
How can I apply for a student credit card?
You can apply for a student credit card online through the card issuer’s website or by visiting a local branch if available. Make sure to have your personal and financial information ready, including your Social Security number, income details, and employment information.
