Finding the right credit card as a student with little to no credit history is very important as it sets the pace of your financial growth and freedom in the coming years. We have put up a list of the best college student credit cards to assist you in budgeting your money and establishing a solid credit history. These cards provide cheap fees, perks, and the chance to build positive credit habits—all necessary for a prosperous financial future. Come along as we examine the best credit card choices that are especially suited for students.
7 Best College Students Credit Cards For Students With Little To No Credit
Young adults might use student credit cards as a stepping stone to create and expand their credit history. For several financial milestones, such as renting an apartment, purchasing a car, or getting a mortgage later in life, a clean credit history is necessary. Moreover, prudent credit card use can impart important budgeting and money management skills.
Find the best credit cards for college students that will help you on your way to a prosperous financial future by providing incentives, minimal costs, and the opportunity to build good credit habits.
Capital One SavorOne Student Cash Rewards Credit Card
If you want to establish credit while in college, you should think about getting a student credit card. If you want to get cash back on your purchases, the Capital One SavorOne Student credit card* is a great choice.
More Benefits:
- Earn unlimited 3% cash back on dining, entertainment, popular streaming services, and at grocery stores, plus 1% on all other purchases.
- Earn a one-time $50 cash bonus once you spend $100 on purchases within 3 months from account opening
- Whether you’re at a 4-year university, community college, or other higher education institution, this card might be an option for you.
Bank of America® Travel Rewards credit card for Students
If you want to earn points toward travel on every transaction you make, the Bank of America Travel Rewards for Students is a great option. With greater spending criteria than other student travel cards but a richer payout, the introductory bonus is a pretty good deal.
More Benefits:
- Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time, and no expiration on points
- 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening
- Easily manage your bank accounts and finances online with Online Banking and our award-winning Mobile Banking app that helps students stay in control of their finances and make payments
Capital One Quicksilver Student Cash Rewards Credit Card
For students who lack the time or motivation to manage several bonus categories, the Capital One Quicksilver Student Cash Rewards Credit Card may be an excellent choice because it offers a sign-up bonus in addition to a strong recurring rewards rate.
More Benefits:
- Earn unlimited 1.5% cash back on every purchase, every day.
- Earn a one-time $50 cash bonus once you spend $100 on purchases within 3 months from account opening
- Earn 10% cashback on Uber and Uber Eats
Discover it® Student Cash Back
The purpose of Discover Student credit cards is to allow you to accumulate credit history and receive cash-back incentives on your purchases. A substantial cash back return is available on alternating bonus spending categories with the Discover it® Student Cash Back card.
More Benefits:
- Earn 5% cash back on everyday purchases at different places each quarter
- Get an unlimited dollar-for-dollar match of all the cash back you earn at the end of your first year, automatically.
- Redeem your rewards for cash at any time.
- First-year cash-back match
Petal® 2 “Cash Back, No Fees” Visa® Credit Card
If you’re just getting started with credit, the Petal® 2 “Cash Back, No Fees” Visa® Credit Card is a fantastic option. You’ll receive openness and simplicity in the form of a possible greater credit limit than you’ll find elsewhere in its category, no fees, no deposit requirements, and a respectable travel companion.
More Benefits:
- No annual membership fee, late fee, or returned payment fee.
- 1% cash back on eligible purchases right away and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 2% to 10% cash back at select merchants
Bank of America® Unlimited Cash Rewards credit card for Students
The Bank of America® Unlimited Cash Rewards Credit Card for Students is a great option for students seeking an easy, affordable method to finance purchases, earn rewards, and establish credit because of its strong introductory APR offer and good rewards rate.
More Benefits:
- Earn unlimited 1.5% cash back on all purchases
- Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening
- Enjoy no annual fee while earning unlimited cash back on all purchases
Discover it® Student Chrome
With its easy-to-understand benefits, the Discover it® Student Chrome card is a great option for students. Up to $1,000 in combined quarterly purchases at petrol stations and restaurants earn 2% cash back, while all other transactions earn 1%. Although the cash-back rate is reduced, the spending categories remain the same for the entire year.
More Benefits:
- At the end of your first year, you’ll immediately be eligible for an unlimited dollar-for-dollar match of all the cash back you earn.
- You can always exchange your prizes for cash.
The Final Takeaway
The best college student credit cards give young adults the chance to learn sound financial management techniques and establish a solid credit history in addition to serving as a useful financial tool. These cards can open doors to a better financial future and present prospects for years to come when utilized sensibly and carefully. Thus, if you’re a student trying to get financial control, look into your possibilities and get off to a good financial start.
Expanded FAQ: 7 Best College Student Credit Cards with Multiple Perks
9. What is a credit card’s APR, and why is it important for students?
APR (Annual Percentage Rate) represents the cost of borrowing on a credit card expressed as an annual interest rate. It’s crucial because:
- High APRs: If you carry a balance from month to month, a high APR means higher interest charges.
- Introductory Offers: Some cards offer 0% intro APR periods on purchases or balance transfers, which can be useful for managing expenses or paying off debt without incurring interest.
10. Are there credit cards that offer rewards on specific spending categories?
Yes, several student credit cards focus on particular spending categories:
- Discover it® Student Cash Back: Offers 5% cash back on rotating categories such as grocery stores, gas stations, or restaurants, and 1% on all other purchases.
- Citi Rewards+® Student Card: Earns 2 points per dollar on dining and entertainment, and 1 point on other purchases. Also rounds up to the nearest 10 points on every purchase.
11. How do credit card rewards programs work?
Credit card rewards programs vary but generally work as follows:
- Cash Back: You earn a percentage of your spending back in cash. This can be redeemed as a statement credit, check, or direct deposit.
- Points: You accumulate points for every dollar spent, which can be redeemed for travel, gift cards, or merchandise.
- Miles: Earned specifically for travel-related purchases, these can be redeemed for flights, hotel stays, or other travel expenses.
12. Are there credit cards with tools for managing finances?
Yes, many student credit cards offer tools to help manage finances:
- Budgeting Tools: Some cards provide spending summaries and category breakdowns to help track expenses.
- Alerts: Set up notifications for payment due dates, spending limits, or unusual activity.
- Mobile Apps: Many issuers have apps that allow you to manage your account, view transactions, and monitor your credit score.
13. What is a secured credit card, and is it a good option for students?
A secured credit card requires a security deposit as collateral, which becomes your credit limit. It’s a good option for students who:
- Have No Credit History: It’s easier to qualify for a secured card.
- Want to Build Credit: Responsible use of a secured card can help establish a credit history.
14. Can students get credit cards with travel benefits?
Yes, there are student credit cards with travel benefits:
- Bank of America® Travel Rewards Credit Card for Students: Offers no foreign transaction fees and earns travel rewards points.
- American Express Blue Cash Everyday® Card: While not a travel card per se, it offers cash back that can be used for travel expenses.
15. What should students consider when choosing a credit card?
When choosing a credit card, students should consider:
- Rewards vs. Benefits: Choose based on whether you prefer cash back, travel rewards, or other perks.
- Credit Limit: Opt for a card with a limit that suits your spending needs without risking overspending.
- Fees: Look for cards with minimal or no fees, especially if you’re just starting to build credit.
- Credit Score Impact: Understand how the card will impact your credit score and whether it offers tools for credit monitoring.
16. Are there credit cards specifically designed for building credit history?
Yes, many student credit cards are designed to help build credit:
- Discover it® Student Cash Back: Reports to all three major credit bureaus, which helps build your credit history.
- Chase Freedom® Student Credit Card: Offers tools to track and build your credit score.
17. How can students avoid credit card debt?
To avoid credit card debt:
- Pay Your Balance in Full: Avoid carrying a balance by paying off your credit card bill in full each month.
- Stick to a Budget: Track your spending and make sure it aligns with your budget.
- Use Alerts and Reminders: Set reminders for payment due dates and spending limits to avoid late fees and overspending.
18. What are some common pitfalls to avoid with student credit cards?
Common pitfalls include:
- Late Payments: Missing payments can lead to fees and damage your credit score.
- High Balances: Carrying high balances can increase your credit utilization ratio and hurt your credit score.
- Unnecessary Fees: Watch out for annual fees, foreign transaction fees, and late payment fees.
19. Can students get credit cards with perks like purchase protection or extended warranties?
Yes, some student credit cards offer these perks:
- Purchase Protection: Covers new purchases against damage or theft for a certain period.
- Extended Warranties: Extends the manufacturer’s warranty on eligible purchases.
20. Where can I compare different credit card offers?
You can compare credit card offers through:
- Credit Card Issuer Websites: Most issuers provide detailed information on their cards.
- Comparison Websites: Sites like NerdWallet, Credit Karma, and Bankrate offer comparison tools to evaluate different credit cards based on rewards, fees, and benefits.
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