Embarking on your college journey, whether as a first-time student or a returning graduate, heralds a newfound sense of independence. Amidst this transition, fostering good financial habits becomes paramount. In this guide, we've curated the top student credit cards, tailored to offer short-term benefits and long-term advantages for your financial trajectory.
Why Choose Student Credit Cards?
Building credit during your student years lays the groundwork for a secure financial future. As you anticipate post-graduation life, characterized by increased income and expenses, cultivating a positive credit history becomes indispensable. Moreover, leveraging a credit card responsibly can yield immediate perks and savings, particularly beneficial for students navigating tight budgets.
Benefits of Student Credit Cards
Each credit card highlighted below is designed to empower students in building credit while earning rewards on their spending. Tailored for individuals with limited or no credit history, these starter cards offer accessible pathways to credit establishment. Furthermore, all featured cards boast regular reporting to major credit bureaus — Equifax, Experian, and TransUnion — ensuring comprehensive tracking of your credit journey. Additionally, access to credit scores, including VantageScore and FICO, equips you with invaluable insights into your credit progress.
Best student credit cards
Explore a diverse range of student credit cards, each offering unique benefits, rewards, and savings to support your financial goals. Whether it's cash back, rewards points, or other incentives, these cards are designed to meet the evolving needs of student life while fostering a robust credit history for future endeavors.
Stay tuned as we unveil the best student credit cards available, providing you with essential tools to navigate your financial journey with confidence and success.
Best for commuters:
Bank of America® Customized Cash Rewards for Students Credit Card
For students who commute regularly, the Bank of America® Customized Cash Rewards for Students credit card stands out as an excellent choice. Here's why.
● Annual Fee: $0
● Welcome Offer: Enjoy a $200 cash welcome bonus after spending $1,000 within the first 90 days.
● Rewards: Earn 3% cash back in a category of your choice, including gas and EV charging stations, online shopping (such as internet, phone plans, and streaming), dining, travel, drug stores, and home improvement. Additionally, receive 2% cash back at grocery stores and wholesale clubs (on the first combined $2,500 spent each quarter) and 1% on all other purchases.
● Introductory APR: Benefit from a 0% introductory APR on new purchases for 15 billing cycles (variable APR of 18.24%-28.24% thereafter).
● Redemption Options: Redeem your rewards as statement credits or cash back into a Bank of America account.
Why It's Ideal for Students
This card caters specifically to student applicants, offering a plethora of benefits perfect for those with longer commutes to and from campus. Here's what makes it an excellent choice for commuters:
● Generous Cash Back: With a remarkable 3% cash back on gas purchases, this card boasts one of the highest cash-back rates among student cards. For students commuting regularly, this translates to substantial savings on gas expenses.
● Practical Rewards: If you commute approximately three days a week to a school located 20 miles away, you could save nearly $60 annually on gas alone by selecting it as your 3% cash-back category. And that's not all—you'll also earn rewards on grocery essentials and benefit from the enticing first-year bonus offer.
In summary, the Bank of America® Customized Cash Rewards for Students credit card is an exceptional choice for students who commute frequently, offering lucrative rewards and practical benefits tailored to their lifestyle.
Best for restaurants and eating out:
U.S. Bank Altitude® Go Secured Visa® Card
For students who enjoy dining out and frequenting restaurants, the U.S. Bank Altitude® Go Secured Visa® Card offers exceptional value. Here's why:
Annual Fee: $0
Rewards: This card features tiered bonus categories tailored to your everyday spending habits:
Earn 4x points on dining, takeout, and restaurant delivery.
Enjoy 2x points at grocery stores, grocery delivery, streaming services, gas stations, and EV charging stations.
Receive 1x points on all other purchases.
Security Deposit Requirement: A minimum refundable deposit of $300 (up to $5,000) is required upon opening, making it accessible for individuals with limited or no credit history.
Redemption Options: Redeem your points for travel, cash back, purchases, and more. Plus, enjoy a $15 streaming service credit after using your card for streaming payments for 11 months.
Why It's Ideal for Students
Secured credit cards are invaluable tools for building credit, and the U.S. Bank Altitude Go Secured Visa Card combines credit-building benefits with lucrative rewards. Here's why it's perfect for students:
Accessible Approval: With a security deposit acting as collateral, secured credit cards offer a viable option for individuals with limited credit history to access credit.
Generous Rewards: Unlike many secured cards, the Altitude Go Secured Visa Card offers impressive rewards, particularly on dining purchases. With a remarkable 4x points per dollar spent on dining, you can earn substantial rewards on your dining expenses.
Added Benefits: Enjoy the convenience of earning rewards while building credit, coupled with additional perks like the $15 streaming service credit, making this card highly valuable for students.
In summary, the U.S. Bank Altitude® Go Secured Visa® Card is an excellent choice for students who prioritize dining out, offering a blend of credit-building features and rewarding benefits tailored to their lifestyle.
Best for school supplies and necessities:
For students seeking savings on school supplies and everyday essentials, the Prime Visa Credit Card presents an enticing option. Here's why:
Annual Fee: $0 (requires Amazon Prime membership)
Welcome Bonus: Enjoy a $200 Amazon gift card upon approval.
Rewards: This card offers cash back rewards in various categories, extending beyond Amazon purchases:
Earn 5% cash back on Amazon.com, at Amazon Fresh, Whole Foods Market, and Chase Travel with an eligible Prime membership.
- Enjoy 2% cash back at restaurants, gas stations, and on local transit and commuting.
- Receive 1% cash back on all other purchases.
Additional Benefits: Benefit from special offers, including up to 10% cash back on select products and categories at Amazon.com, which vary throughout the year. Redemption options include cash back, travel through Chase, and purchases made with Amazon.
Why It's Ideal for Students
The Prime Visa Credit Card offers significant savings for frequent Amazon shoppers, making it an attractive choice for college students. Here's why it's beneficial:
Cost-Effective Prime Membership: While the card requires an Amazon Prime membership, students can avail themselves of a discounted membership at $7.99 per month or $69 per year, unlocking access to exclusive benefits and savings.
Substantial Rewards: With a generous 5% cash back on Amazon purchases, students can accrue significant savings on school supplies and back-to-college essentials, potentially amounting to substantial savings over the academic year.
Versatile Redemption Options: Enjoy the flexibility of redeeming your rewards for cash back, travel, or purchases made with Amazon, providing additional value to your spending.
However, it's important to note that the Prime Visa Credit Card isn't specifically designed for students or credit-building purposes. While it offers robust rewards and savings, individuals with no credit history may encounter challenges in qualification. Prior to application, ensure to explore pre-approval options to gauge your eligibility confidently.
In summary, the Prime Visa Credit Card offers unparalleled savings opportunities for students, particularly for those with frequent Amazon purchases, making it a valuable addition to any student's wallet.
Best for groceries:
Capital One SavorOne Student Cash Rewards Credit Card
For students seeking to maximize savings on everyday essentials like groceries, the Capital One SavorOne Student Cash Rewards Credit Card stands out as the top choice. Here's why it's the best option:
Annual Fee: $0
Welcome Bonus: Enjoy a $50 cash bonus after making at least $100 in purchases within the first three months, providing an immediate boost to your rewards.
Rewards: Earn 3% cash back on select categories, including dining, entertainment purchases (such as movie theaters and amusement parks), popular streaming services (like Netflix and Hulu), and grocery stores (excluding Target and Walmart). Additionally, earn 1% cash back on all other purchases.
- Redemption Options: Redeem your cash back for statement credits, checks, gift cards, or apply it toward recent purchases made with your card.
- Grocery Savings: The 3% cash back on grocery store purchases makes this card ideal for students living off-campus or without a dining plan. With the average monthly grocery spend for college students being $260, you can earn nearly $100 in rewards each year just from this category alone.
Why It's Ideal for Students
The Capital One SavorOne Student Cash Rewards Credit Card offers several benefits tailored to student lifestyles:
Substantial Cash Back: Benefit from significant cash back rewards on essential spending categories like groceries, dining, and entertainment, providing valuable savings over time.
Flexible Redemption: Enjoy flexibility in redeeming your cash back earnings, whether as statement credits, checks, gift cards, or towards recent purchases.
No Annual Fee: With no annual fee, this card offers valuable rewards without additional costs, making it ideal for budget-conscious students.
Welcome Bonus: The $50 cash bonus provides an immediate incentive for new cardholders, helping kickstart your rewards journey from the outset.
In summary, the Capital One SavorOne Student Cash Rewards Credit Card offers exceptional rewards on everyday spending categories like groceries, making it the top choice for students looking to maximize savings while building credit.
Best for studying abroad:
Bank of America® Travel Rewards Credit Card for Students
For students embarking on international adventures, the Bank of America® Travel Rewards Credit Card for Students offers an excellent opportunity to earn travel rewards. Here's why it's an ideal companion for studying abroad.
Annual Fee: $0
Welcome Bonus: Enjoy 25,000 bonus points after spending $1,000 within the first 90 days, equivalent to $250 in cash if redeemed for a statement credit towards dining or travel expenses.
Rewards: Earn 1.5x points on every purchase, providing consistent rewards without the hassle of tracking categories.
Redemption Options: Redeem your rewards points as statement credits towards travel and dining purchases made with your card, with each point valued at 1 cent. Additionally, benefit from an introductory 0% APR offer on new purchases for 15 billing cycles after opening (variable APR of 18.24%-28.24% thereafter).
Foreign Transaction Fees: Enjoy waived foreign transaction fees, saving you money on purchases made abroad.
Why It's Ideal for Students
The Bank of America® Travel Rewards Credit Card for Students is the perfect companion for students planning to study abroad or embark on international adventures. Here's why it's beneficial:
Flexible Redemption: With the ability to redeem points for travel expenses including flights, hotels, and more, as well as dining expenses both at home and abroad, this card offers versatile rewards that can help offset study abroad costs.
Financial Flexibility: The 0% APR on new purchases for 15 billing cycles provides students with the flexibility to finance study abroad expenses without accruing interest, offering peace of mind during their international journey.
Savings on Fees: Waived foreign transaction fees ensure that students can make purchases abroad without incurring additional costs, making it a cost-effective option for international travel.
In summary, the Bank of America® Travel Rewards Credit Card for Students is a valuable companion for students exploring the world, offering rewarding benefits, financial flexibility, and savings on international transactions.
Best for students with no credit history:
Petal® 2 Visa® Credit Card
For students with no credit history, the Petal® 2 Visa® Credit Card offers a unique and accessible pathway to building credit. Here's why it's an excellent choice:
Annual Fee: $0
Rewards: Enjoy a tiered cash-back rate that rewards responsible use:
-Start with 1% cash back on all purchases upon opening.
- Earn 1.25% cash back after making six on-time monthly payments.
- Achieve 1.5% cash back after making 12 on-time monthly payments.
Additional Benefits: With on-time payments, you may qualify for a credit limit increase in as little as six months through Petal's Leap program. This card also boasts no late fees or returned payment fees, providing peace of mind for students.
Approval Process: The Petal 2 card utilizes a "Cash Score" instead of a traditional credit score, making it accessible for students without any credit history. Your creditworthiness is determined based on your bank account information and history of paying bills on time.
Why It's Ideal for Students
The Petal® 2 Visa® Credit Card stands out as an excellent option for students for several reasons:
Attainable Rewards: As a solid cash-back rewards card, the Petal 2 card offers achievable rewards even for students without any credit history. The tiered cash-back structure, combined with positive payment history, serves as an incentive to cultivate responsible credit habits from the outset.
Building Credit: By leveraging the Cash Score approval process and the rewards structure, students can establish and strengthen their credit history while enjoying cash-back rewards.
Financial Empowerment: With no annual fee and the absence of late fees or returned payment fees, the Petal 2 card empowers students to manage their finances responsibly without worrying about punitive charges.
In summary, the Petal® 2 Visa® Credit Card is an excellent choice for students seeking to build credit from scratch, offering accessible rewards and valuable benefits tailored to their financial journey.
Best secured credit card for students:
Capital One Quicksilver Secured Cash Rewards Credit Card
For students looking to establish credit responsibly, the Capital One Quicksilver Secured Cash Rewards Credit Card stands out as an excellent option. Here's why it's the best choice:
Annual Fee: $0
Rewards: Enjoy 1.5% cash back on every purchase, providing valuable rewards while building credit.
Security Deposit: A minimum refundable security deposit of $200 is required upon opening, acting as your credit line. Your deposit determines your spending limit.
- Redemption Options: Redeem your cash back for statement credits, purchases made with your card, or gift cards.
- Upgrade Opportunities: Unlike many secured cards, the Quicksilver Secured offers a clear path to upgrade. After a minimum of six months, you'll be considered for a higher credit limit without the need for an additional deposit. Additionally, you have the chance to earn back your deposit over time and potentially upgrade to the non-secured Quicksilver card, all while continuing to earn cash back rewards.
Why It's Ideal for Students
The Capital One Quicksilver Secured Cash Rewards Credit Card offers several benefits tailored to students:
- Building Credit Responsibly: Secured credit cards provide students with an opportunity to establish credit without a credit history. With responsible use, such as making on-time payments and managing credit utilization, students can build a positive credit history.
- Valuable Rewards: Despite being a secured card, the Quicksilver Secured offers competitive rewards, allowing students to earn cash back on every purchase.
- Upgrade Path: The card offers the potential for credit limit increases and upgrades to non-secured cards, providing students with a pathway to improved credit and access to better credit products in the future.
In summary, the Capital One Quicksilver Secured Cash Rewards Credit Card is the top choice for students seeking to build credit responsibly while enjoying valuable rewards and opportunities for credit advancement.
Best welcome bonus:
Discover it® Student Cash Back
For students seeking a rewarding credit card experience from the start, the Discover it® Student Cash Back stands out with its impressive welcome bonus. Here's why it's the top choice:
Annual Fee: $0
Welcome Bonus: Benefit from Discover's Cashback Match program, which doubles your total cash back earned over the first year. This generous offer amplifies your rewards potential right from the beginning.
Rewards: Enjoy 5% cash back on everyday purchases in rotating categories (up to $1,500 spent each quarter, then 1%), along with 1% cash back on all other spending. Past 5% categories have included popular retailers like Amazon.com, Target, and restaurants.
Redemption Options: Redeem your cash back for a check, statement credits, purchases at Amazon.com, or PayPal spending. Additionally, take advantage of a 0% APR offer for new purchases lasting six months after account opening, with an ongoing variable APR of 18.24%-27.24%.
Graduation and Beyond: After graduation, your card transitions into a standard credit card. You can update your information with Discover and explore eligibility for a credit line increase while continuing to enjoy spending and rewards.
Why It's Ideal for Students
The Discover it® Student Cash Back card offers numerous benefits tailored to student needs:
Generous Welcome Offer: The Cashback Match program doubles your cash back earnings in the first year, providing a substantial boost to your rewards potential.
Rotating Rewards: With 5% cash back categories that rotate quarterly, you can maximize rewards on everyday expenses, including essentials like groceries, dining, and more.
Financial Flexibility: Benefit from a 0% APR offer for new purchases, offering students flexibility in managing expenses without accruing interest.
Long-Term Value: Beyond the welcome bonus, the ongoing rewards structure and potential for credit line increases ensure that the Discover it® Student Cash Back remains a valuable companion throughout your academic journey and beyond.
In summary, the Discover it® Student Cash Back card offers a compelling combination of welcome bonus, rewards, and financial flexibility, making it the best choice for students looking to maximize their credit card benefits from day one.
More Student Credit Card Options
While the previously mentioned cards offer excellent benefits for students, there are several other solid options available to help you build credit and maximize value. Here are a few additional student credit cards worth considering:
Chase Freedom Rise℠
Chase's Freedom Rise card is an ideal choice for students aiming to build credit while earning cash back rewards. With no annual fee, you'll receive 1.5% cash back on every purchase. What's more, you can redeem your cash back as points for Chase Ultimate Rewards travel, expanding your redemption options. Additionally, enrolling in automatic payments within three months of account opening earns you a $25 statement credit—a valuable incentive that promotes responsible payment habits. After six months, Chase will evaluate your account for potential credit line increases. Having an eligible Chase checking account with a balance of at least $250 can enhance your approval chances for the Freedom Rise card.
Discover it® Student Chrome
Although the Discover it® Student Cash Back is a top choice, the Student Chrome version also offers significant benefits. With no annual fee, you'll enjoy the same Cashback Match welcome offer and a six-month introductory 0% APR for new purchases. Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, along with 1% cash back on all other purchases. Maximizing the 2% category quarterly could yield $80 in cash back annually, in addition to your 1% earnings.
BankAmericard® for Students
The BankAmericard® for Students focuses on providing a lengthy introductory APR period rather than ongoing rewards. With a 0% APR on new purchases for up to 18 billing cycles (variable APR of 16.24%-26.24% thereafter), this card boasts the longest intro period among credit-building cards. While it doesn't offer ongoing rewards, it's ideal for students seeking to take advantage of an extended introductory APR period. Additionally, the card features a 0% APR for balance transfers made within 60 days of account opening (with a 3% fee), although this may be less relevant if you're new to credit cards.
In summary, these additional student credit card options provide diverse benefits, ranging from cash back rewards to extended introductory APR periods, catering to various financial needs and preferences.
How to Choose the Best Student Credit Card for You
Before you dive into the world of student credit cards, it's essential to consider a few key factors to ensure you're making the right choice for your financial situation and goals. Here's what to keep in mind:
1. Fees and Interest Rates
Student credit cards may come with higher fees and interest rates, especially if you have limited or no credit history. Pay close attention to annual fees, initiation fees, and monthly account fees. Also, be mindful of the interest rates, as they can significantly impact your overall cost if you carry a balance. Avoid cards with excessive fees or hidden charges buried in the fine print.
2. Need for a Co-signer
If you're under 21 and lack a regular income, you might require a co-signer to open a credit card account. Co-signers take responsibility for your payments if you're unable to make them yourself. Ensure you understand the responsibilities and implications of having a co-signer before proceeding with your application.
3. Bonus Rewards Categories
While student credit cards typically don't offer extravagant sign-up bonuses, they still provide opportunities for rewards. Look for cards with cash-back rewards or points that align with your spending habits. Consider where you spend the most—for instance, if you dine out frequently, a card offering rewards on dining purchases would be beneficial.
4. Long-term Use
View your student credit card as a stepping stone toward future credit opportunities. Opt for a card from an issuer that offers a range of credit cards, including premium options. This way, you can establish a relationship with the issuer and potentially upgrade to more lucrative cards as your credit profile strengthens. Keep in mind the potential for synergy between your student card and future premium cards, allowing you to maximize rewards across different spending categories.
By carefully evaluating these factors, you can select a student credit card that not only meets your current needs but also sets you up for long-term financial success and growth.
Making the Most of Your Student Credit Card
Once you've chosen the right student credit card for you, it's time to maximize its benefits and make the most of your financial opportunities. Here's how you can leverage your card effectively:
1. Take Advantage of Introductory Offers
If your card offers an introductory APR on new purchases, plan your spending accordingly. Consider using your card for significant purchases during this period to benefit from interest-free payments for a few months.
2. Optimize Rewards
Make sure to use your card for all purchases, especially in bonus spending categories. By charging expenses to your card and paying off the balance in full each month, you can earn valuable rewards without accruing interest charges. Maximize your returns by utilizing rewards for statement credits, cash back, or other redemption options offered by your card issuer.
3. Build Your Credit History
One of the most significant advantages of having a student credit card is the opportunity to establish and build your credit history. By consistently making on-time payments and maintaining low credit utilization, you can boost your credit score over time. A strong credit score opens doors to various financial opportunities, such as renting an apartment, securing loans, and qualifying for premium credit cards with enhanced benefits.
4. Practice Responsible Credit Habits
Use your student credit card responsibly to lay a solid foundation for your financial future. Avoid overspending and strive to pay your balance in full and on time each month. By practicing good credit habits now, you'll set yourself up for long-term success and financial well-being.
By leveraging the benefits of your student credit card and adopting responsible credit management practices, you can make the most of this financial tool and pave the way for a bright financial future.
Building Credit as a College Student
Building a strong credit score as a college student is essential for your financial future. Here are some key tips to help you establish and maintain good credit with your student credit card:
1. Pay On Time
Late payments can have severe consequences, including late fees and penalty APRs, which increase your interest rate. Set up alerts or automatic payments to ensure you never miss a payment deadline.
2. Pay In Full
While paying the minimum amount is necessary to avoid extra fees, paying your balance in full each month prevents you from accruing interest on your purchases. Carrying a balance from month to month can be costly, especially with high-interest rates.
3. Keep Utilization Low
Maintain a low credit utilization ratio by charging only a small portion of your available credit. Aim to keep your utilization below 30% to demonstrate responsible credit management.
4. Track Your Credit Progress
Regularly monitor your credit score and reports to track your progress and identify any errors or fraudulent activity. Access your credit score through your online account and obtain free credit reports from each bureau annually.
Authorized User Option
Consider becoming an authorized user on a trusted individual's credit card account, such as a parent or family member with good credit. This allows you to benefit from their positive payment history, helping you build credit over time. However, ensure clear communication and trust regarding payments to avoid any negative consequences.
By following these tips and practicing responsible credit habits, you can build a strong credit history as a college student, setting the stage for financial success in the future.
Our Methodology for Selecting the Best Student Credit Cards
Building credit as a student is crucial for financial readiness after graduation. To compile our list of the best student credit cards, we focused on credit-building cards, secured cards, and student credit cards tailored to help users establish a strong credit foundation.
Identifying Focus Categories
We considered everyday spending and credit-building priorities most beneficial for college students, such as cards for groceries, study abroad, and those suitable for individuals with no credit history.
Evaluation Process
Using our proprietary ranking system, we assessed over two dozen credit cards from major issuers falling within the specified categories. Factors evaluated included annual fees, interest rates, 0% APR offers, rewards, and welcome bonuses, as well as targeted features like credit-building incentives, upgrade opportunities, and credit score access.
Threshold Selection
We established a threshold above the overall average for all card options, ensuring selected cards had no annual, monthly, or initiation fees, provided credit score access, reported to all three credit bureaus, and were accessible to applicants building credit.
Final Selection Criteria
Among cards meeting the threshold, we selected those best suited for each focus category. Preference was given to cards offering the highest rewards based on average spending in respective categories or possessing unique attributes setting them apart from competitors. When spending data was unavailable, cards were chosen based on overall category performance or additional distinguishing features.
Subjective Analysis
In cases where multiple cards met criteria, we employed subjective analysis to determine the best fit. Factors considered included user experience, customer service reputation, and issuer reliability.
Our methodology ensures the inclusion of student credit cards offering the most value and benefits to users, assisting them in building a strong credit history and reparing for financial success beyond college.
English (United States) ·