Did you know 84% of college students have a credit card? Choosing the right credit cards as a student can greatly affect your financial future. The best credit cards for students help you build credit, earn rewards, and learn good financial habits. These habits will help you long after you graduate.
Key Takeaways
- Student credit cards provide an opportunity to build credit and establish a positive credit history.
- These cards often feature valuable rewards programs, such as cash back or travel points, catering to the unique spending patterns of college students.
- Many student credit cards have no annual fees, making them a cost-effective option for building credit.
- Responsible credit card usage during college can set you up for financial success in the future.
- Comparing the features and benefits of different student credit cards can help you find the best fit for your spending and financial goals.
Introduction
As a student, it’s key to start building credit early. A good credit score is vital for big life steps like renting, getting an auto loan, or finding a job. Using a student credit card wisely helps you create your credit history and boost your credit score over time.
Benefits of Student Credit Cards
Student credit cards have many perks for your financial health. They usually have no annual fees, making them a budget-friendly choice for students. Plus, you can earn cash back or travel rewards on your purchases, helping you save while you build credit.
These cards also teach you how to use credit wisely. By paying on time and keeping your credit use low, you show you can handle credit well. This can lead to improved credit scores and better financial chances later on.
“Starting to build credit early can have a significant impact on your financial future. A good credit score can open doors to better interest rates, more favorable loan terms, and even enhance your job prospects.”
Getting a student credit card is a smart move for your financial future. It lets you build credit early and learn how to manage it well.
Best Student Credit Cards for Cash Back
Looking for the best student credit cards with cash back? The Discover it® Student Cash Back and the Capital One Quicksilver Student Cash Rewards Credit Card are top picks. They offer great cash back rewards, perfect for college students wanting to save more.
Discover it® Student Cash Back
The Discover it® Student Cash Back card is a favorite among students. It gives 5% cash back on rotating quarterly categories (up to $1,500 in purchases, then 1%) and a dollar-for-dollar cash back match at the end of the first year. With no annual fee and 99% nationwide acceptance of Discover credit cards, it’s a great way for students to earn student credit cards with cashback and improve their credit.
Capital One Quicksilver Student Cash Rewards Credit Card
The Capital One Quicksilver Student Cash Rewards Credit Card is another great choice for cash back rewards. It gives a flat 1.5% cash back on all purchases, with no annual fee. This card is simple, offering no annual fee student credit cards and cash back rewards without the need to track categories.
| Card | Cash Back Rates | Annual Fee |
|---|---|---|
| Discover it® Student Cash Back | 5% cash back on rotating quarterly categories (up to $1,500 in purchases, then 1%); 1% on other purchases; Unlimited dollar-for-dollar cash back match at the end of the first year | $0 |
| Capital One Quicksilver Student Cash Rewards Credit Card | 1.5% cash back on all purchases | $0 |
Both the Discover it® Student Cash Back and the Capital One Quicksilver Student Cash Rewards Credit Card offer great cash back rewards and no annual fee options for students. Your choice will depend on your spending habits and personal preferences.
Best for Gas Stations and Restaurants
As a student, finding a credit card that rewards your everyday spending can make a big difference. The Discover it® Student Chrome card is great for students who often visit gas stations and restaurants.
This card gives you 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. After that, you get 1% cash back. Plus, Discover will double all the cash back you earn in your first year.
The Discover it® Student Chrome card lets you earn cash back on gas and restaurant purchases. This helps you save money and build credit responsibly. Plus, there’s no annual fee, making it easy on your budget.
Whether you’re getting to campus or eating out with friends, the Discover it® Student Chrome card rewards your spending. It’s a top pick for students wanting to get the most out of their money and earn cash back on daily expenses.
Best for Groceries and Dining
Managing your budget as a student can be tough. But, the right credit card can help you earn cash back on everyday buys. The Capital One SavorOne Student Cash Rewards Credit Card is perfect for students who spend a lot on food and eating out.
This card gives you a great 3% cash back on dining and grocery store purchases (excluding superstores like Walmart® and Target®). You also get 10% cash back on Uber and Uber Eats purchases (through November 14, 2024) and 8% cash back on Capital One Entertainment purchases. Plus, there’s a one-time $50 cash bonus when you spend $100 in the first 3 months.
The Capital One SavorOne Student Cash Rewards Credit Card is the Best Credit Card for College Students. It’s loved by 92% of reviewers, with 71% giving it a 5-star rating and 19% a 4-star rating.
| Earning Rate | Bonus Cash Back | Other Benefits |
|---|---|---|
| 3% cash back on dining and grocery store purchases | 10% cash back on Uber and Uber Eats purchases (through November 14, 2024), 8% cash back on Capital One Entertainment purchases | $50 cash bonus after spending $100 on purchases within 3 months, 19.99% – 29.99% variable APR |
With the Capital One SavorOne Student Cash Rewards Credit Card, students can get the most cash back on what they buy most. This helps them save money and build their credit. It’s a great pick for students who want rewards on their food and dining expenses.
Best for Earning Interest
The Firstcard® Credit Builder Card with Cashback for College Students is great for earning interest. It’s a secured card that puts your security deposit into a high-yield checking account. This account can earn up to 1.25% APY or even 4.25% APY with a Firstcard+ membership.
This card also offers up to 10% random cash back on all your purchases and up to 15% cash back at partner merchants. Earning interest and cash back at the same time is a big win for students. It helps them get the most out of their credit card.
For students aiming to build credit and earn on their balance, the Firstcard® Credit Builder Card is a smart pick. It has competitive interest rates and generous cashback rewards. This card is a valuable tool for managing student finances.
“The Firstcard® Credit Builder Card is a unique and innovative solution for students looking to build their credit while earning interest on their account balance. It’s a game-changer in the student credit card market.”
Best for 0% Intro APR Offer
If you’re a student looking for a great financing deal, the BankAmericard® for Students is worth checking out. It offers a 0% APR for 18 billing cycles on purchases and balance transfers. This makes it perfect for students needing to finance big expenses or pay off debt.
There’s a 3% fee for balance transfers, but the long 0% intro period can save you a lot of money. After that, the APR can range from 16.24% to 26.24%, based on your credit score.
The BankAmericard® for Students is simple and focuses on what matters most – a long 0% intro APR and a good standard APR range. It’s a great choice for student credit cards with 0% intro APR. It helps you build credit and manage money wisely while in college.
“The extended 0% intro APR period on the BankAmericard® for Students has been a game-changer for me. It’s allowed me to finance necessary purchases and consolidate some debt without accruing interest charges.”
– Emily, College Student
Best for Travel Rewards
If you’re a college student who loves to travel, the Bank of America® Travel Rewards credit card for Students is perfect for you. It gives you unlimited 1.5 points per dollar on all purchases. This means you earn rewards on everything you buy. Plus, you get a 25,000-point welcome bonus (worth $250 toward travel and dining).
There’s no foreign transaction fee when you use the card abroad. This makes it great for international trips.
The card also offers a 0% APR for 15 billing cycles on purchases and balance transfers. This is great for students who need to finance big purchases or pay off debt while in school.
| Card Feature | Details |
|---|---|
| Rewards Rate | Unlimited 1.5 points per $1 spent |
| Welcome Bonus | 25,000 points (worth $250 toward travel and dining) |
| APR | 0% for 15 billing cycles on purchases and balance transfers |
| Foreign Transaction Fees | None |
The Bank of America® Travel Rewards credit card for Students is a top choice for college students. It lets you earn rewards on your daily spending. You can then use those points for travel and dining in the future.
Credit Cards for Students Opportunity
As a student, exploring credit cards can be thrilling and a bit scary. But, they can help you build credit, earn rewards, and learn good financial habits. Student credit cards are made just for you, with perks like cash back, no annual fees, and special offers.
Choosing the right student credit card can set you up for financial success now and later. These cards are tailored for college students. They help you start building a strong credit history and a solid financial base.
Key Benefits of Student Credit Cards
- Error forgiveness: Look for credit cards with features such as a 0 percent annual percentage rate (APR) for the first six months or waive user penalties for missing a monthly payment for the first time.
- No extra fees: Some credit cards for students offer 0 percent APRs for the initial six months, with no charges for international transactions, suitable for students studying or traveling abroad.
- Rewards for good grades: Specific credit card agreements provide cash back annually for students maintaining a certain grade-point average.
- Effective customer service: Credit card companies offering excellent customer service can aid new customers in understanding their spending habits through online tools.
Using credit cards wisely is key. Students might spend too much, leading to debt that can hurt their credit score. It’s vital to pay off the balance every month and know the high APRs for carrying debt.
Student credit cards have easier credit score requirements for beginners. They also offer cash back, 0% APR intro deals, and lower fees or no annual fees. But, they usually have lower credit limits than regular cards.
By using the credit cards for students opportunity and picking the right student credit card offers, you can build a strong financial base. This will help you succeed in the long run.
Best for No Credit History
The Bank of America® Unlimited Cash Rewards credit card for Students is great for students starting to build their credit. It doesn’t need a credit check or Social Security Number. This makes it easy for those with no credit history to get it.
This card lets you earn 1% cash back on all purchases. But there’s more. After 12 straight months of on-time payments, you can get 1.5% cash back. This encourages you to use it wisely.
It’s perfect for students with no credit history who want to start building their financial future. The card’s easy requirements and good cash back rates are a big plus.
“This card has been a game-changer for me as a college student. The no-credit-history requirement and the cash back rewards have really helped me build my credit and manage my expenses better.”
– Emily, Bank of America® Unlimited Cash Rewards credit card for Students cardholder
Comparing Student Credit Card Options
Choosing the right credit card as a student is crucial for building credit. There are many student credit card options, each with unique benefits for your financial needs and spending. By comparing these options, you can find the best card for your goals and credit history.
Many student credit cards offer 0% introductory APRs for a few months. This lets you buy things without paying interest. Most student credit cards also don’t have an annual fee, making them a good choice for starting to build credit.
Student credit cards have different rewards, like cash back, gas, hotel, miles, and points. The Capital One Quicksilver Student Cash Rewards Credit Card and the Discover it® Student Cash Back are great for cash back rewards. The Bank of America® Travel Rewards credit card for Students is perfect for travel rewards.
| Card Name | Rewards Rate | Annual Fee | Intro APR |
|---|---|---|---|
| Capital One Quicksilver Student Cash Rewards Credit Card | 1.5% cash back on all purchases | $0 | 0% for 15 months |
| Discover it® Student Cash Back | 5% cash back in rotating quarterly categories, 1% on all other purchases | $0 | 0% for 6 months |
| Bank of America® Travel Rewards credit card for Students | 1.5 points per $1 spent on all purchases | $0 | 0% for 12 months |
When looking at student credit cards, also think about balance transfer fees, foreign transaction fees, and smart chip technology. These factors help you pick a card that fits your needs and helps you build credit responsibly.
The best student credit card for you depends on your spending, financial goals, and credit history. By researching and comparing options, you can make a smart choice. This step will help you build a strong credit foundation as a student.
Tips for Responsible Credit Usage
As a student, it’s key to use credit wisely to build a strong credit history. This sets you up for financial success. By starting with good credit habits, you can boost your credit score and secure your financial future.
One important tip is to pay your bills on time. This is because payment history is 35% of your FICO score. Paying your credit card bill by the due date each month helps your score a lot. Experts say to keep your credit utilization ratio, which is 30% of your FICO score, under 30% for a healthy credit profile.
It’s also vital to check your credit report often for errors or strange activity. This helps you spot and fix problems early, before they hurt your credit score. Many credit card companies offer free credit monitoring services to help you keep an eye on your credit health.
Lastly, avoid spending too much and only use your credit card for things you really need. College students often have a high monthly balance, leading to interest and debt. By budgeting and tracking your spending, you can use credit responsibly and work towards a strong credit score.
“The credit CARD Act of 2009 prohibits credit card approvals for anyone under 21 years old unless they have an adult co-signer or can prove they have sufficient income to pay the bills.”
By following these tips for responsible credit usage, you can set yourself up for financial success. You’ll enjoy the perks of a good credit score, like lower interest rates and better loan and mortgage access in the future.
Conclusion
Student credit cards are a great way for college students to build credit and earn rewards. They help you develop good financial habits too. By picking the right card for your spending and goals, you can get cash back, travel rewards, and special offers.
These cards are perfect for both first-time users and those building credit. They open the door to financial success in college and beyond.
Using your student credit card wisely helps you start a strong credit history. This can lead to savings on student loans, better car loan deals, lower insurance rates, and easier apartment rentals. Employers in fields like law enforcement and accounting also look at your credit history.
With the right student credit card, you get to build credit and enjoy perks like cash back and 0% introductory APR. There are many options to fit your needs and help you reach your financial goals. By using the credit cards for student opportunities, you’re setting yourself up for a secure financial future.
FAQ
What are the best student credit cards for cash back?
The Discover it® Student Cash Back card and the Capital One Quicksilver Student Cash Rewards Credit Card are top picks for cash back. The Discover it® Student Cash Back card gives 5% cash back on certain categories (up to $1,500 in purchases, then 1%) and matches your cash back at the end of the first year. The Capital One Quicksilver Student Cash Rewards Credit Card offers 1.5% cash back on all purchases.
What student credit card is great for gas stations and restaurants?
The Discover it® Student Chrome card is perfect for students who spend a lot at gas stations and restaurants. It gives 2% cash back on these purchases up to $1,000 each quarter (then 1%), and matches your cash back at the end of the first year.
Which student credit card is best for groceries and dining out?
For students who buy a lot of groceries and eat out, the Capital One SavorOne Student Cash Rewards Credit Card is a great choice. It offers 3% cash back on groceries and dining, plus 10% cash back on Uber and Uber Eats purchases (through November 14, 2024), and 8% cash back on Capital One Entertainment purchases.
What student credit card allows you to earn interest on your account balance?
The Firstcard® Credit Builder Card with Cashback for College Students is special because it lets you earn interest on your balance. It puts your security deposit into a high-yield checking account, earning 1.25% APY (or 4.25% APY with a FirstCard+ membership). You can also earn up to 10% cash back on all purchases and up to 15% cash back at partner merchants.
Which student credit card offers a 0% APR introductory period?
The BankAmericard® for Students is ideal for students wanting a special financing deal. It has a 0% APR for 18 billing cycles on purchases and balance transfers (then a variable standard APR of 16.24%–26.24%). There’s a 3% balance transfer fee, but the long intro period is great for financing big purchases or paying off debt.
What student credit card is best for travel rewards?
The Bank of America® Travel Rewards credit card for students is perfect for students who travel a lot. It gives 1.5 points per dollar spent on all purchases, a 25,000-point welcome bonus (worth $250 toward travel and dining), and no foreign transaction fees. It also offers 0% APR for 15 billing cycles on purchases and balance transfers.
What student credit card is best for those with no prior credit history?
numberThe Bank of America® Unlimited Cash Rewards credit card for students is great for students with no credit history. It offers 1% cash back on all purchases, with the chance to earn up to 1.5% cash back after 12 on-time payments. It’s easy to get because it doesn’t require a credit check or Social Security number.
