Navigating the world of credit cards can be overwhelming, especially for students who are new to managing finances. However, having a credit card as a student can be a great way to build credit, earn rewards, and learn responsible financial habits. To help you get started, we’ve compiled a list of 5 credit cards designed specifically for students. These cards offer student-friendly features like low fees, rewards, and tools to help you build credit. Let’s dive in!
1. Discover it® Student Cash Back
Best for Cash Back Rewards
The Discover it® Student Cash Back card is a top choice for students who want to earn rewards while building credit. It offers 5% cash back on rotating categories (up to the quarterly maximum) and 1% cash back on all other purchases. Plus, Discover matches all the cash back you’ve earned at the end of your first year, making it an excellent option for new cardholders.
Key Features:
- No annual fee.
- $20 statement credit each school year for good grades (GPA of 3.0 or higher).
- No credit score required to apply (perfect for students with limited credit history).
- Free access to your FICO® credit score.
Why It’s Great for Students:
This card rewards responsible spending and offers tools to help students monitor and improve their credit scores.
2. Capital One SavorOne Student Cash Rewards Credit Card
Best for Dining and Entertainment
If you’re a student who loves dining out or enjoys entertainment, the Capital One SavorOne Student Cash Rewards Credit Card is a fantastic option. It offers 3% cash back on dining, entertainment, popular streaming services, and grocery stores, plus 1% on all other purchases.
Key Features:
- No annual fee.
- No foreign transaction fees (great for studying abroad or traveling).
- Access to a higher credit line after making your first 5 monthly payments on time.
- Introductory APR offer on purchases and balance transfers.
Why It’s Great for Students:
This card is ideal for students who spend on food and entertainment, helping them earn rewards on everyday purchases.
3. Bank of America® Travel Rewards Credit Card for Students
Best for Travel Enthusiasts
For students who love to travel, the Bank of America® Travel Rewards Credit Card for Students is a great choice. It offers 1.5 points per dollar on all purchases, and points can be redeemed for flights, hotels, vacation packages, and more.
Key Features:
- No annual fee.
- No foreign transaction fees.
- Introductory APR offer on purchases.
- Free FICO® credit score access.
Why It’s Great for Students:
This card is perfect for students who want to earn travel rewards without worrying about annual fees or foreign transaction fees.
4. Deserve® EDU Mastercard for Students
Best for International Students
The Deserve® EDU Mastercard for Students is designed with international students in mind. It doesn’t require a Social Security Number (SSN) to apply, making it accessible to non-U.S. citizens. It also offers 1% cash back on all purchases.
Key Features:
- No annual fee.
- No security deposit required.
- Free Amazon Prime Student membership for one year (worth $59).
- Cell phone protection when you pay your bill with the card.
Why It’s Great for Students:
This card is a standout option for international students who may face challenges when applying for other credit cards.
5. Citi Rewards+® Student Card
Best for Small Purchases
The Citi Rewards+® Student Card is unique because it rounds up to the nearest 10 points on every purchase, making it ideal for students who make small, frequent purchases. You’ll earn 2x points at supermarkets and gas stations (up to $6,000 per year) and 1x points on all other purchases.
Key Features:
- No annual fee.
- Introductory APR offer on purchases and balance transfers.
- Points never expire as long as your account is open.
- Access to Citi Entertainment for special events and experiences.
Why It’s Great for Students:
This card is perfect for students who want to maximize rewards on everyday spending.
How to Choose the Right Student Credit Card
When selecting a credit card as a student, consider the following factors:
- Fees: Look for cards with no annual fee and low or no foreign transaction fees.
- Rewards: Choose a card that aligns with your spending habits (e.g., cash back, travel, or dining rewards).
- Credit Building: Opt for cards that report to all three major credit bureaus to help you build credit.
- Eligibility: Ensure you meet the card’s requirements, such as being a student or having limited credit history.
FAQs About Student Credit Cards
1. Can I get a credit card as a student with no credit history?
Yes! Many student credit cards are designed for individuals with little to no credit history. Cards like the Discover it® Student Cash Back and Deserve® EDU Mastercard for Students are great options for beginners.
2. How can a student credit card help me build credit?
Using a student credit card responsibly—by making on-time payments and keeping your balance low—can help you establish a positive credit history. Over time, this can improve your credit score, making it easier to qualify for loans, apartments, and other financial products in the future.
3. What should I avoid when using a student credit card?
Avoid carrying a high balance, missing payments, or using your card for unnecessary purchases. These habits can lead to debt and damage your credit score. Always aim to pay your balance in full each month to avoid interest charges.
Final Thoughts
A student credit card can be a valuable tool for building credit, earning rewards, and managing your finances. By choosing the right card and using it responsibly, you can set yourself up for financial success both during and after college. Whether you’re looking for cash back, travel rewards, or a card that caters to international students, there’s an option out there for you. Start exploring these 5 student-friendly credit cards today and take the first step toward a brighter financial future!
