10 Best Credit Cards for Students
Overview
As a student, managing finances and building a good credit score may not always be top of mind, but it’s crucial for your financial future. One of the best ways to start building credit while still in school is by applying for a student credit card. These cards are designed with students in mind, offering lower credit limits, easy approval processes, and rewards that can help you save or earn money. This article by Academic Block will guide you through the best credit cards for college students available in current year and provide tips on how to make the most of your student credit card.
Why Get a Student Credit Card?
Before we dive into the top student credit cards, let’s first discuss why you should consider getting one as a student:
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Build Your Credit History : Your credit score is a crucial factor in determining your ability to borrow money in the future for major purchases like a car or home. Starting to build credit early with a student credit card can help you establish a good credit history. The better your credit, the more likely you are to be approved for loans at favorable rates.
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Earn Rewards and Cash Back : Many top student credit cards offer cash back or rewards points for everyday purchases like groceries, gas, and dining out. These rewards can be redeemed for statement credits, gift cards, or even travel.
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Learn Financial Responsibility : A studentcreditcard can help you understand how credit works, including paying your bill on time, managing debt, and avoiding high-interest rates. This can set the stage for a healthy financial life after graduation.
Best Student Credit Cards
Discover it® Student Cash Back
If you’re looking for a studentcreditcard with rotating categories for bonus rewards, the Discover it® Student Cash Back card (Discover It Student Cash back Card) is an excellent option. It offers 5% cash back on rotating categories (such as grocery stores, gas stations, restaurants, etc.) each quarter, up to a quarterly maximum, and 1% cash back on all other purchases. Its key features are:
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5% cash back on rotating categories (activation required).
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1% cash back on all other purchases.
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Unlimited Cashback Match at the end of your first year (Discover will match all the cash back you’ve earned in your first year).
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No annual fee.
The Cashback Match offer is particularly appealing for students looking to maximize their rewards in the first year.
Capital One QuicksilverOne® Student Cash Rewards Credit Card
If you’re looking for a straightforward cash-back card with 1.5% cash back on every purchase, the Capital One QuicksilverOne® Student Cash Rewards Credit Card (Capital One Student Credit Card) is an excellent option. Although it has an annual fee of $39, it offers a solid rewards rate with no rotating categories or activation required. Its key features are:
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1.5% cash back on every purchase.
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No rotating categories to worry about.
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No annual fee for the first year, then a $39 annual fee after that.
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Access to higher credit limits after making your first 5 monthly payments on time.
This is a good choice for students who want consistent cash back without worrying about tracking categories or signing up for bonus offers.
Chase Freedom Student Credit Card
The Chase Freedom Student Credit Card is one of the top choices for students due to its attractive cashback rewards and no annual fee. With this card, you can earn 1% cash back on all purchases. New cardholders can also earn a $50 bonus after making their first purchase within the first 3 months. Its key features are:
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Earn 1% cash back on all purchases.
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$50 sign-up bonus after the first purchase.
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No annual fee.
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Access to credit limit increases after making 5 monthly payments on time.
This card is perfect for students who want an easy way to earn rewards while learning how to manage credit.
Bank of America® Cash Rewards Credit Card for Students
The Bank of America® Cash Rewards Credit Card for Students is another solid option that lets you earn up to 3% cash back on a category of your choice, such as gas, online shopping, dining, travel, drug stores, or home improvement. The card also offers 2% cash back on groceries and wholesale clubs, up to $2,500 in combined bonus category spending per quarter, and 1% cash back on all other purchases. Its key features are:
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3% cash back on one category of your choice (like dining or travel).
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2% cash back on grocery stores and wholesale clubs (on up to $2,500 in combined purchases each quarter).
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1% cash back on other purchases.
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No annual fee.
This is an ideal card for students who spend a lot in specific categories and want to maximize their rewards.
Bank of America® Travel Rewards Credit Card for Students
The Bank of America® Travel Rewards Credit Card for Students is perfect for students who want to earn travel rewards. You’ll earn 1.5 points per dollar on all purchases, with no annual fee or foreign transaction fees. Its key features are:
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1.5 points per dollar on every purchase.
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No annual fee.
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No foreign transaction fees.
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Unlimited 1.5x points on all purchases.
This is a great card for students who plan to travel abroad and want to earn points toward travel expenses.
Firstcard® Secured Credit Builder Card
For students who are building or rebuilding their credit, the Firstcard® Secured Credit Builder Card is an excellent option. This secured card requires a deposit, but it helps you build a strong credit foundation. Its Key features are:
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Low annual fee.
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Reports to all three major credit bureaus.
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Security deposit required.
This card is perfect for students who want to establish or improve their credit score.
Petal® 1 “No Annual Fee” Visa® Credit Card
The Petal® 1 Visa® Credit Card is a great option for students who are new to credit. It doesn’t require a credit history for approval and offers 1% cash back on purchases with no annual fee. Its Key features are:
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1% cash back on all purchases.
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No annual fee.
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No credit history required.
This card is perfect for students who are just starting to build their credit.
Wells Fargo Active Cash℠ Card
The Wells Fargo Active Cash℠ Card (wells fargo student credit card) offers 2% cash back on all purchases, with no annual fee. This makes it an excellent choice for students who want simple, straightforward rewards without worrying about rotating categories. Its Key features are:
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2% cash back on every purchase.
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No annual fee.
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No rotating categories to worry about.
This is ideal for students who want easy-to-understand rewards.
Secured Self Visa® Credit Card
The Secured Self Visa® Credit Card is another great option for students looking to build or rebuild their credit. It offers a low minimum deposit requirement and reports to all three major credit bureaus. Its Key features are:
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Reports to major credit bureaus.
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Low minimum deposit requirement.
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Helps build credit.
This card is ideal for students who want to establish or improve their credit score with responsible use.
Discover it® Student Chrome
The Discover it® Student Chrome (Discover It Student Card) is a great choice for students who want to earn cash back on everyday purchases. It offers 2% cash back at gas stations and restaurants (up to $1,000 per quarter) and 1% cash back on all other purchases. Its Key features are:
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2% cash back at gas stations and restaurants.
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1% cash back on all other purchases.
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No annual fee.
Perfect for students who spend a lot on gas and dining.
Final Words
In conclusion, choosing the best student credit card can help you start your financial journey on the right foot. Whether you’re looking to earn rewards, build credit, or save money, there’s a student credit card out there for you. The key is to find one that fits your spending habits and financial goals, and then use it responsibly. Hope you liked this article by Academic Block, please share your thought below. Thanks for Reading!
This Article will answer your questions like:
To apply for a student credit card, you typically need to provide proof of your student status (e.g., a student ID), a valid address, and basic financial information. Most student credit cards don’t require a credit history, but some may ask for proof of income or a co-signer. Applications can usually be completed online through the credit card issuer’s website.
The best credit card for students depends on your spending habits. Cards like the Chase Freedom Student Credit Card and the Discover it® Student Cash Back offer cashback rewards and no annual fee. If you want to build credit, a card like the Capital One QuicksilverOne® Student Cash Rewards Credit Card provides steady cashback on every purchase. Always choose one with low fees and rewards that align with your spending habits.
A student should get a credit card that offers no annual fees, low interest rates, and rewards for everyday purchases. Cash-back credit cards like the Discover it® Student Cash Back or Chase Freedom Student are great for students looking to earn rewards. It’s also essential to choose a card with tools to help build credit, such as credit limit increases and automatic payment reminders.
Yes, students can get credit cards in Canada. Many Canadian banks offer student-specific credit cards that come with low or no annual fees and offer benefits like cashback or rewards. These cards are designed to help students build their credit scores while offering them flexibility in managing their finances. Examples include the Scotiabank Student Credit Card and the RBC Student Credit Card.
A student credit card is specifically designed for students with little to no credit history, offering lower credit limits and easier approval requirements. It typically comes with fewer fees and more flexible terms to help students build their credit. A regular credit card, on the other hand, may require a higher credit score and can have higher limits and more extensive benefits like travel rewards or premium services.
To apply for a credit card as a student, you need to check if the card issuer offers student cards. After choosing a card, fill out the online application, providing your student status and personal details. In some cases, you may need to provide proof of income or a co-signer. Many student credit cards are accessible online with easy application processes.
The Wells Fargo Cash Back College Card is one of the best options for students. It offers 3% cash back on gas, grocery, and drug store purchases for the first six months, with 1% on all other purchases. There is no annual fee, making it a great way for students to earn rewards while building credit.
There is no specific minimum income requirement for the Capital One student credit card. However, applicants must demonstrate the ability to repay the credit card balance. Students with limited or no credit history may need to provide a co-signer or show a steady income from part-time work or a stipend.
The Discover student credit card does not require a specific credit score for approval, as it is designed for students with little to no credit history. However, having a score of at least 600 can increase your chances of approval. For students with no credit, Discover may still approve your application based on other factors, such as income or a co-signer.
Yes, you can use a Discover student card in Canada as long as the merchant accepts Discover cards. Discover has a partnership with the Diners Club International network, making it widely accepted in many countries, including Canada. However, it is always a good idea to check with local businesses about card acceptance.
To qualify for a Discover student card, you need to be a student with proof of enrollment in an accredited institution. You also need to be at least 18 years old and have a U.S. address. Discover does not require a specific credit score for students, but having some form of income can be helpful in the approval process.
The interest rate for the Discover student credit card typically ranges between 14.99% and 23.99% APR. This rate varies based on the applicant’s creditworthiness and other factors. If you carry a balance, it is important to pay off the card to avoid high-interest charges. Always strive to pay the full balance each month to avoid accruing interest.
To apply for a Chase student credit card, visit the Chase website and select the student card you want. The application requires personal details like your name, address, Social Security number (or ITIN), and proof of enrollment. You will also need to provide your income information, which could include any part-time work or financial support. After completing the online form, submit your application for approval.
To get a Wells Fargo student credit card application online, visit the Wells Fargo website and navigate to the credit cards section. Select the “Student Credit Cards” option and choose the card that fits your needs. Click on “Apply Now” to start the application process. You will need to provide personal information, proof of student status, and income details during the application.
For a Discover student credit card application, you will need to provide proof of student status (such as your student ID or enrollment confirmation). You will also need to include personal details like your Social Security number or ITIN, your contact information, and any income details, such as part-time job earnings or financial support. Some applications may also ask for a co-signer if you have limited credit history.
Several student credit cards offer instant approval, including the Discover it® Student Cash Back and the Capital One QuicksilverOne® Student Cash Rewards Credit Card. These cards typically provide a decision within minutes of applying, though approval may depend on factors such as income, credit history, and application details. It’s essential to meet basic eligibility requirements to qualify for instant approval.
The best credit cards for students with good credit this year include the Chase Freedom® Student Credit Card, which offers cash back rewards, and the Capital One QuicksilverOne® Student Cash Rewards Credit Card, offering unlimited 1.5% cash back on every purchase. Other strong options are the Discover it® Student Cash Back and the Wells Fargo Cash Back College Card. These cards often provide higher credit limits and better rewards for students with a good credit history.
The best credit cards for students with no credit history include the Discover it® Student Cash Back, which is ideal for earning cash back with no credit history, and the Capital One Journey® Student Rewards. Both cards are designed to help students build credit with no credit history required for approval. Another good option is the Petal® 2 “Cash Back, No Fees” Visa® Credit Card, which also accepts applicants with little to no credit history.