11 Best Student Credit Cards Of 2022: The Complete Guide

Best Student Credit Cards: A student credit card is an excellent place to start when building credit. While you’re still in school, building strong credit might not seem like a top priority, but you’ll need it later on if you want to finance a car, purchase a home, or be eligible for the best credit card offers.

Even your chances of getting a job and renting an apartment may be impacted by your credit.

Best Student Credit Cards

A student credit card is a beginning card that college students can use to cover unexpected costs like textbooks or rent while also establishing credit. Investigate the top credit cards for college students when you look for your first card.

These cards are ranked according to user satisfaction ratings, rewards earning rates, annual percentage rates, and other criteria. The list includes credit card issuers that college student credit card with limited credit histories are likely to be eligible for.

Here we have the student credit card. Student credit cards can act as a stepping stone to future credit offers with better terms because they include lower credit limits and benefits designed specifically for college student credit card.

The Credit CARD Act of 2009 clarified that those under 21 cannot be granted credit cards unless a parent or legal guardian cosigns for them or they have an independent income.

What Is a Student Credit Card?

Student credit cards can act as a bridge to future more beneficial credit offers because they have lower credit limits and incentives exclusive to college students.

By consistently paying your bills in full and on time, you can establish a credit history that will make it much simpler and less expensive for you to obtain other loans in the future, such as a mortgage, a car loan, or another credit card.

credit cards for students

However, be cautious of taking on too much too soon: These student credit card aren’t frills; they can harm or ruin credit just as readily, if not more so than they can build it.

Deatiled List Of Best Student Credit Cards

Discover it® Student Cash Back

BEST FOR ROTATING CASH BACK BONUS CATEGORIES

Discover it® Student Cash Back

Even if you don’t have a credit history, you can avoid the “beginning card” stage with the Discover it Student Cash Back. With its full-featured cash back program activated each quarter, you can earn up to $1,500 in combined purchases at a rate of 1 percent while earning 5 percent on rotating bonus categories.

Rewards Rate:

  • Earn up to the quarterly limit when you activate and earn 5% cash back on regular purchases at various locations every quarter, including Amazon.com, supermarkets, restaurants, petrol stations, and when you pay with PayPal.
  • Additionally, automatically receive limitless 1% cash back on all other purchases.

Card Details: 

  • No credit history is necessary to apply.
  • Introductory Offer: Only from Discover, get unlimited cashback matching. At the end of your first year, Discover will automatically double all the cash back you’ve earned! Therefore, you could exchange $50 in cash for $100. or increase $100 to $200. There is no minimum or maximum prize amount. Just a match dollar for dollar.
  • Earn up to the quarterly limit when you activate and earn % cash back on regular purchases at various locations every quarter, including Amazon.com, supermarkets, restaurants, petrol stations, and when you pay with PayPal.
  •  Additionally, automatically receive limitless 1 percent cash back on all other purchases.
  • New! Discover can delete your personal information from some people-search websites. Free activation with a smartphone app.
  • With appropriate use and no annual cost, you can improve your credit.
  • Six months of 0% intro APR on purchases are followed by a 14.49 % to 23.49 % standard variable purchase APR.
  • To view the terms and conditions, click “Apply Now.”

Pros

  • This card gives you up to $1,500 in rotating categories of cash back at a rate of 5% per quarter. All other purchases receive 1% cash back.
  • Both the annual fee and the first late payment penalty are waived. Discover claims that there is no FICO history requirement for this card either.

Cons

  • When you first start using credit, activating bonus categories every three months can be a headache, and some classes might not be appropriate for a student’s expenditures.
  • If you’re studying abroad, remember that Discover isn’t as readily accepted abroad, but there isn’t a foreign transaction fee.

Chase Freedom® Student credit card

BEST STUDENT CARD FOR BENEFITS

Chase Freedom® Student credit card

The Chase Freedom Student credit card is an excellent option for students just beginning their credit journey because it offers an easily achievable welcome bonus, no annual fee, (credit card issuers) and the possibility to earn hassle-free flat-rate cash back. Additionally, you can receive $20 in Good Standing Rewards every five years on your account anniversary.

Reward Deails: 

  • Earn $20 in Good Standing Rewards after every account anniversary for up to five years, plus one % cash back on all transactions.

Card Details: 

  • After the first transaction within the first three months after account opening, you’ll receive a $50 bonus.
  • On all purchases, get 1% cashback.
  • No yearly charge.
  • $20 in Good Standing Rewards after every fifth anniversary of the account.
  • When you meet the credit requirements and make five timely monthly payments during the first ten months of account opening, your credit limit will be increased.
  • No minimum is required to redeem cash back. As long as your account is active, Cash Back rewards never expire.
  • Chase Credit Journey offers a free credit score.

Pros

  • There is no annual charge for college students who are worried about their budgets.
  • After your first purchase during the first three months after account opening, you’ll receive a $50 incentive.

Cons

  • On purchases or balance transfers, there are no introductory APR deals.
  • You receive less cash back on everyday purchases—1 % some other cards in this category.

Related article:

Discover it® Student chrome

BEST FOR GAS, DINING & LARGE PURCHASES

Discover it® Student chrome

This card is an excellent illustration of why it’s crucial to choose a credit card that offers rewards for the transactions you make the most frequently. (best student credit cards) The Discover it Student Chrome offers extra cash back automatically at restaurants and gas stations, two of the most popular places for college students to spend their money.

Rewards Rate: 

  • Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases every three months.
  • Additionally, automatically receive limitless % cash back on all other purchases.

Card Details: 

  • No credit history is necessary to apply.
  • Introductory Offer: Only from Discover, get unlimited cashback matching. At the end of your first year, Discover will automatically double all the cash back you’ve earned! Therefore, you could exchange $50 in cash for $100. or increase $100 to $200. There is no minimum or maximum prize amount. Just a match dollar for dollar.
  • Earn 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases every three months. Additionally, automatically receive limitless % cash back on all other purchases.
  • New! Discover can delete your personal information from some people-search websites. Free activation with a smartphone app.
  • With appropriate use and no annual cost, you can improve your credit.
  • Six months of 0% intro APR on purchases are followed by a 14.49 percent to 23.49 percent standard variable purchase APR.
  • To view the terms and conditions, click “Apply Now.”

Pros

  • The lack of an annual fee, foreign transaction fee, or a penalty APR makes maintaining this card quite reasonable.
  • With this card, take advantage of Discover’s Cash Back Match program and match all the cash back you earn in the first year.

Cons

  • To exchange your cash back rewards for a gift card, you must have at least $5.
  • The % cash back at petrol stations and restaurants has a quarterly cap (up to $1,000 in total quarterly purchases, after that 1 percent).

Capital One SavorOne Student Cash Rewards Credit Card

BEST OVERALL STUDENT CARD

Capital One SavorOne Student Cash Rewards Credit Card

Consider the Capital One SavorOne Student Cash Rewards Credit Card if you’re looking for a credit card to help pay for a great night or at home. It generously rewards frequent eating and entertainment expenditures and allows you to increase your credit limit in as short as six months with good credit behavior.(best student credit cards) The card also features a manageable welcome offer; students can get $100 back after spending just $100 in the first three months.

Rewards Rate: 

  • At Vivid Seats, get 8% cash back on Capital One Entertainment purchases and tickets.
  • Earn an unlimited 5% cash back on all hotel and rental car reservations made through Capital One Travel, where you’ll find the company’s lowest rates on a vast selection of travel alternatives. Rules apply.
  • Earn an unlimited 3 percent cashback on purchases made at grocery stores, popular streaming services, restaurants, and entertainment venues (but not at superstores like Walmart® and Target®).
  • On all other purchases, earn 1%.

Card Details: 

  • Receive limitless 1 percent cash back on all other purchases and 3 percent on restaurants, entertainment, popular streaming services, and grocery stores (but not at superstores like Walmart® and Target®).
  • Additionally, Vivid Seats offers 8% cash back on Capital One Entertainment purchases and tickets.
  • Earn $100 when you spend $100 in the first three months with this limited-time offer.
  • There are no hidden fees, foreign transaction costs, or annual fees.
  • There are no rotating categories or sign-ups required to get cash rewards, and there is no cap on the amount you may earn. In addition, cash back won’t expire for the account life.
  • Using a credit card responsibly can help you improve your credit.
  • You’ll automatically be considered for a more extensive credit line in as short as six months.
  • Earn an unlimited 5% cash back on all hotel and rental car reservations made through Capital One Travel, where you’ll find the company’s lowest rates on a vast selection of travel alternatives. Rules apply.
  • If you attend a community college, 4-year university, or another higher credit line, this card may be a possibility.

Pros

  • This card might be an effective study abroad tool because it has no international transaction fees.
  • The APR on this card is not penalized.

Cons

  • With this card, the regular variable APR ranges from 16.49 to 26.49 %, which is high.
  • Target and Walmart are not included in the 3% cash back rate.

Capial One Quicksilver Cash Rewards Credit Card

BEST FOR FLAT-RATE CASH BACK

Capial One Quicksilver Cash Rewards Credit Card

This Capital One credit card is a good option for college students looking for a card with flat-rate cash back benefits and few fees.

One of the most generous rewards rates for a student credit card is offered by this card, (best student credit cards) which has no international transaction fees and a flat cashback rate of 1.5 percent plus 5 percent back on lodging and rental car reservations made through Capital One Travel.

Rewards Rates: 

  • Earn an unlimited 5% cash back on all hotel and rental car reservations made through Capital One Travel, where you’ll find the company’s lowest rates on a vast selection of travel alternatives. Rules apply.
  • Earn an unlimited 1.5 percent cashback on all daily purchases.

Card Details: 

  • Earn an unlimited daily 1.5 percent cashback on all purchases.
  • Time is limited. Offer: For the first three months, you can earn $100 when you spend $100.
  • There are no hidden fees, foreign transaction costs, or annual fees.
  • There are no rotating categories or sign-ups required to get cash rewards, and there is no cap on the amount you may earn. In addition, cash back won’t expire for the account life.
  • Using a credit card responsibly can help you improve your credit.
  • You’ll automatically be considered for a more extensive credit line in as short as six months.
  • Earn an unlimited 5% cash back on all hotel and rental car reservations made through Capital One Travel, (credit card issuers) where you’ll find the company’s lowest rates on a vast selection of travel alternatives. Rules apply.
  • If you attend a community college, 4-year university, or another higher education facility, this card may be a possibility.

Pros

  • There are no annual fees or foreign transaction fee associated with this card.
  • Students can take advantage of the welcome offer; they must spend $100 in the first three months to get $100 back.

Cons

  • No special APR is available on purchases or debt transfers with this card.
  • This credit card charges late fees. Some student cards do not charge one, despite the norm for most cards.

Journey Student Rewards from Capital One

BEST FOR UNIQUE INCENTIVES

Journey Student Rewards from Capital One

Capital One’s Journey Student Rewards program offers straightforward incentives along with a bonus for on-time payments. If your credit is average and you want to apply, you don’t even need to be a student.

Card Details: 

  • Earn 1% cash back on every transaction you make. Pay promptly to increase your cash to a monthly total of 1.25 percent.
  • Earn an unlimited 5% cash back on all hotel and rental car reservations made through Capital One Travel, where you’ll find the company’s lowest rates on a vast selection of travel alternatives. Rules apply
  • There are no annual fees or foreign transaction costs.
  • Using a credit card responsibly can help you improve your credit.
  • Your monthly payments will be paid automatically if you set up Autopay for your account.
  • Choose a monthly payment deadline that works for you.
  • You’ll automatically be considered for a more extensive credit line in as short as six months.
  • There is no fraud liability if your card is ever lost or stolen.

Pros

  • The benefits are simple to comprehend and can help form virtuous credit habits. You receive 1 % cash back on all purchases, plus an additional 0.25 % cash back when you pay your bills on time.
  • And in as short as six months, you could automatically be considered for a greater credit limit with no additional deposit. There are no foreign transaction fee and no yearly charge.

Cons

  • The maximum rewards rate ranges between 1% and 1.25 % and is lower than several other student cards’ top rates.

Bank of America® Travel Rewards Credit Card for Students

BEST FOR STUDY ABROAD

Bank of America® Travel Rewards Credit Card for Students

Students earning flat-rate rewards points with flexible trip redemption options will not be charged international transaction fees or an annual fee while studying abroad.

However, as the introductory APR rate is only valid for purchases, this card isn’t an intelligent choice for balance transfers.

Card Details: 

  • Earn an unlimited 1.5 points for each dollar spent on transactions made anywhere, at any time, and there is no expiration date for points.
  • If you spend $1,000 or more online within the first 90 days of opening your account, you’ll receive 25,000 bonus points, which may be exchanged for a $250 statement credit for travel-related purchases.
  • There are no annual fees or transaction costs abroad.
  • For improved security and protection while making purchases at chip-enabled terminals in more than 130 countries, Chip Cards now use chip technology.
  • Fifteen billing cycles with an introductory APR of 0% on purchases. After that, purchases and balance transfers will have a regular APR of 16.24 percent to 26.24 percent. There is a balance transfer fee of $10 or 3% of each transaction’s value, whichever is higher.

Pros

  • Flexible alternatives for redeeming awards.
  • On every dollar spent, you can get 1.5 points.
  • There is no foreign transaction fee.
  • Simple and direct welcome bonus.

Cons

  • High transfer fees for balances.
  • No different award categories exist.
  • No introductory APR is offered for balance transfers.
  • High late fees and penalty APR.

Deserve® EDU Mastercard for Students

BEST FOR NO CREDIT HISTORY AND INTERNATIONAL STUDENTS

Deserve® EDU Mastercard for Students

Students who cannot obtain a credit card because they do not have a Social Security number, a credit history in the United States, or both should strongly consider the Deserve® EDU Mastercard.

Card Details: 

  • After spending $500 within the first three billing cycles using your EDU card, you will receive one year of Amazon Prime Student on Deserve (a Lifetime Value of $69 per year).
  • Your Deserve EDU Mastercard offers 1% Cash Back on all transactions.
  • Following approval, you’ll immediately begin receiving cash back on all transactions.
  • Feel safe with up to $600 in cell phone insurance.
  • No money down is needed—no yearly charges.
  • No foreign transaction fees are applied to overseas purchases, allowing you to travel worry-free.
  • International students are not required to have a Social Security number to apply.
  • Program for Referring Friends: Use your unique referral code to refer anyone to Deserve. Following approval, card activation, and use, you and your referral will receive $30. Bonuses for referrals are limitless!
  • You can easily manage and track your spending through a single, user-friendly app, set up automatic payments, and securely freeze your card.
  • Certificate in minutes without affecting your credit score.
  • Celtic Bank, a member of the FDIC, is the issuer of Deserve Mastercards.
  • Enjoy Mastercard Platinum Benefits like Mastercard ID Theft prevention and Master Rental® that are designed to make your life simpler.

Pros

  • Here, students who might not be eligible for other cards have a chance because Deserve evaluates applications using its underwriting procedure and other criteria.
  • After spending $500 in the first three billing cycles, cardholders receive a statement credit for an Amazon Prime Student subscription (up to $69), limitless 1 percent cash back on all purchases, and a $30 statement credit for each qualified friend you refer. There is no yearly charge.

Cons

  • Only statement credit may be used to redeem awards, and you must wait until you have $25 in rewards, equal to $2,500 in expenditure.
  • If you can get them, other cards provide more effective rewards rates.

Bank Of America Customised Cash Rewards Student Credit Card

BEST FOR CHOOSE-YOUR-OWN-ADVENTURE

Bank Of America Customised Cash Rewards Student Credit Card

For college students who require an introductory APR rate and no annual fee but still want to earn significant cash-back returns, this card earns an “A+.”

Card Details:

  • After making at least $1,000 in transactions during the first 90 days of your account creation, you will receive a $200 cash rewards incentive online.
  • Gas, online shopping, restaurants, travel, drug stores, home improvement stores, and furniture earn 3 percent cash back; groceries and wholesale clubs earn 2 percent cash back, and all other transactions earn 1 percent cash back.
  • Your financial awards are perpetual. Using our mobile app or website, you can adjust your 3 percent pick category each month as your budget for upcoming expenditures.
  • To create a temporary credit card number for online purchases so that your actual card number is thoroughly hidden and safeguarded, use the free and straightforward ShopSafe® service.
  • Access your free, monthly updated FICO® Score using your Mobile Banking app or Online Banking.

Pros

  • Free FICO rating.
  • Introductory APR deals with the long term.
  • Competitive reward rates for cashback.
  • Straightforward welcome bonus

Cons

  • The foreign transaction cost of 3%.
  • High late fees and penalty APR.
  • Depending on your credit, a regular APR that is high to very high

Petal® 2 “Cash Back, No Fees” Visa® Credit Card

BEST FOR STUDENT STARTER CARD

Petal® 2 "Cash Back, No Fees" Visa® Credit Card

The Petal 2 “Cash Back, No Fees” Visa Credit Card can assist you in advance if you’re a student with a budding credit history. A cashback program with incentives is also available with this card.

Rewars Rates: 

  • After making 12 timely monthly payments, you can receive up to 1.5 percent cash back on eligible purchases.
  • On qualifying purchases, you will immediately receive 1% cash back.

Card Details: 

  • No costs of any kind. There aren’t any late fees, foreign transaction fees, or other fees.
  • The range of variable APRs is 14.49 to 28.49 %.
  • After making 12 timely monthly payments, you can receive up to 1.5 % cash back on eligible purchases.
  • On qualifying purchases, you will immediately receive 1% cash back.
  • You can get cash back between 2 and 10% at particular retailers.
  • Credit ranges from $300 to $10,000.
  • No credit rating? No issue. Instead, if you’re qualified, we’ll create your Cash Score.
  • Check your preapproval status in a matter of minutes without affecting your credit score.
  • Join the hundreds of thousands of Petal cardholders in building credit.
  • Petal submits information to the three main credit bureaus.
  • No payments are necessary.
  • Card issued by FDIC-member WebBank

Pros

  • A reasonably high credit limit of up to $10,000 can be granted to you.
  • Based on your credit history, income, and spending habits.
  • After making 12 timely monthly payments, you are entitled to get up to 1.5 percent cash back on eligible purchases.

Cons

  • On purchases or balance transfers, there are no introductory APR deals.
  • With this card, your possibilities for cash back redemption are constrained.

Petal® 1 “No Annual Fee” Visa® Credit Card

BEST FOR LOCAL CASH BACK OFFERS

This card is intended for people with little or no credit history who want to establish good financial practices. Petal provides all the tools necessary to establish a solid credit history, including the ability to plan and track monthly budgets, calculate interest costs, and check your credit score.

Card Details: 

  • No annual fee
  • The range of variable APRs is 21.49 to 30.99 %.
  • Credit limits of $300 to $5,000
  • Increase your credit limit in as short as six months. You are applying terms and conditions.
  • No credit rating? No issue. Instead, if you’re qualified, we’ll create your Cash Score.
  • 2% to 10% cash back at specific retailers
  • Check your preapproval status in a matter of minutes without affecting your credit score.
  • No yearly or international transaction charges.
  • Join the hundreds of thousands of Petal cardholders in building credit.
  • The mobile app from Petal makes it simple to keep track of your spending, automate payments, and manage your finances.
  • Petal submits information to the three main credit bureaus.
  • No money down is needed.
  • Card issued by FDIC-member WebBank.

Pros

  • With this card, you are instantly signed up for the Petal Perks program; keeping track of an enrollment deadline is no longer necessary.
  • Get all the advantages of a regular Visa card, such as emergency card replacement and zero liability fraud protection.

Cons

  • No introductory discounts or introductory APRs on purchases or balance transfers.
  • To redeem, you must have at least $20 in rewards.

Related article:

Best Student Credit Card This Month

1. Discover it® Student Cash Back

Pick For: Simplicity and value

Why this is one of the top credit cards for students: The Explore it For students who wish to receive cash back on regular purchases, the Student Cash Card is a fantastic option. Students can earn up to the quarterly maximum every quarter when they activate, 5 percent cash back on everyday purchases at various locations like Amazon.com, supermarkets, restaurants, petrol stations, and when you pay with PayPal.

On all other purchases, the card gives unlimited 1% cash back. After your first year, Discover will match all the cash back you’ve accrued. There are no late fees or annual fees the first time you pay late.

2. Chase Freedom® Student credit card

This is one of the top credit cards for students: Cardholders don’t have to keep track of complex spending categories and receive 1% cash back on all purchases. After the initial transaction is completed during the first three months of account opening, the card offers a $50 Bonus. 

3. Discover it® Student chrome

This is one of the top credit cards for students: This card is intended for college students who typically spend money on petrol and food. On combined purchases of up to $1,000 every quarter at petrol stations and restaurants, cardmembers receive 2% cash back. All other purchases are eligible for a flat-rate 1 percent cashback. After your first year, Discover will match all the cash back you’ve accrued.

4. Capital One SavorOne Student Cash Rewards Credit Card

One of the top credit cards for students: Cardholders who use their Capital One SavorOne Student Cash Rewards Credit Card can receive an unlimited 3% cash back on qualified eating, entertainment, and grocery purchases. Additionally, through January 2023, Vivid Seats customers can get 8% cash back on Capital One Entertainment purchases, including tickets.

Every other purchase results in a 1% cashback. In as little as six months, you can automatically be evaluated for a more significant credit line if you use your credit card responsibly and build your credit. There are no annual fees or foreign transaction fees associated with this card. 

5. Capial One Quicksilver Cash Rewards Credit Card

Why this is one of the best student credit cards: The Capital One Quicksilver student cash Rewards Credit Card earns 1.5% cash back on all purchases with no limit, making earning rewards easy. This card could be helpful for students studying abroad with no foreign transaction fee. Cardholders pay no annual fee, and rewards won’t expire as long as the account is open.

6. Journey Student Rewards from Capital One

Why this is one of the top credit cards for students: With this card, you can always get 1% cash back on all purchases, and if you pay your bills on time each month, you may get 1.25 percent cash back instead. This card is intended for college students who are only now starting to establish credit. For this card, there are no yearly or foreign transaction fees.

7. Bank of America® Travel Rewards Credit Card for Students

Why this is one of the top credit cards for students: With no maximums, students can earn 1.5 points for every dollar spent on all transactions. No blackout dates or restrictions apply when redeeming points for statement credits toward lodging, transportation, vacation packages, or other travel-related costs.

Within the first 90 days after opening an account, you can receive 25,000 bonus points if you spend at least $1,000. Both an annual fee and a foreign transaction fee are waived with this card.

8. Deserve® EDU Mastercard for Students

This card provides advantages for American students and is the self-proclaimed “best credit card for international students” (a title it does live up to, if not simply due to a lack of competition). No social security number, credit history, or cosigner is necessary to apply for the Deserve® EDU Mastercard for Students. There are no yearly or foreign transaction fees with the Deserve EDU Mastercard.

9. Bank Of America Customised Cash Rewards Student Credit Card

With the opportunity to choose categories every month, the Bank of America® Customized Cash Rewards Credit Card for Students* offers cardholders enhanced cash back in an area of their choosing. Despite having a catchy headline, the card’s cash back earnings in supermarkets and wholesale clubs may be more profitable.

10. Petal® 2 “Cash Back, No Fees” Visa® Credit Card

With the opportunity to choose categories every month, the Bank of America® Customized Cash Rewards Credit Card for Students* offers cardholders enhanced cash back in an area of their choosing. Despite having a catchy headline, the card’s cash back earnings in supermarkets and wholesale clubs may be more profitable.

11. Petal® 1 “No Annual Fee” Visa® Credit Card

A number of credit-building features are included in the Petal 1 mobile app, including access to your credit score, a calculator to determine your potential interest rate based on your balance, and a tool to assist you avoid paying for services you are no longer using. Local offers that earn 2 to 10 % cash back at particular retailers are also displayed on a map.

credits card for students

What Should You Understand Before Receiving Your First Credit Card?

If you want to get a credit card while you’re in college, you need to ensure you’re prepared for the obligation first and foremost. Cards are a terrific method to establish credit, but you must keep balances low and make on-time, complete payments on all of your debts each month.

Consider choices like secured credit cards and student loans that require little to no credit history. You can narrow your options by comparing APRs, security deposits, annual fees, and rewards programs.

Don’t apply for too many credit cards at once; look for cards that offer prequalification.(student cash) Hard inquiries caused by your applications may damage your credit.

You could be required to show documentation of your income and enrollment and the name of your institution or university, state, and city to receive approval.

Advantages Of Having Credit Card As A Student

  • You are improving your credit: Getting a credit card while in college can help you develop wise financial practices and graduate with a good credit track record. With that head start, you might be able to more easily shift to financial independence, rent an apartment, and make significant life expenditures.
  • You are gaining benefits. To increase the value of your card and entice you to use it, issuers may give incentives for every dollar you spend in the form of miles, points, or cash back. Depending on the program regulations, rewards can typically be exchanged for gift cards, statement credits, travel, and items.
  • Defending against credit card fraud and theft: Your liability is only $50 if a credit card is lost or stolen before you can report the issue. According to the Consumer Financial Protection Bureau, many credit card companies provide zero liability protection and won’t hold you liable for unauthorized charges.

Disadvantages Of Having A Credit Card As A Student

  • Limited credit: Because users of student cards don’t have a history demonstrating they can safely utilize credit, student cards have lower limits than ordinary cards.
  • High APRs: Because students have little to no credit history, rates are typically higher than those for other card kinds
  • Limited rewards: Some credit cards for students offer benefits like cash back or other bonuses, albeit at a slower rate than standard cards
  • Missing or late payments: You will damage your credit score and accrue late fees if you blow your budget and stop making credit card payments. Additionally, a late payment might stay on your credit report for up to seven years.

How do student credit cards works? What are they?

A student credit card can be helpful if you’re a college student with little credit history. Student cards offer you access to a credit line that you can use to make purchases, just like regular credit cards do. One or more of the three main credit bureaus are then informed of your card usage.

You can establish a good credit history and raise your credit score if you make on-time payments on all of your bills and don’t utilize too much of your available credit. This will go a long way toward demonstrating to creditors that you understand how to use credit responsibly.

After you graduate, the effort you put into establishing and keeping high credit can pay off in various ways. For example, you may be eligible for more lucrative credit cards and find it simpler to obtain an affordable auto loan or mortgage.

Why Is Credit Building Important for College Students?

  • Students with good credit are more likely to find jobs: Nevertheless, you must give your written consent before an employer can check your credit when you seek a job. The Company might learn more about your responsibility management skills from your credit report. Although employers can obtain information differs by state, they cannot view your credit score. Employers may not use credit reports when hiring new employees in some states.
  • Credit can affect auto insurance rates: Credit score is one of the many variables that auto insurers may consider when determining a policy’s cost and terms. Prices for auto insurance might be decreased with good credit. Although some states forbid it, credit information is sometimes used to calculate vehicle insurance premiums.
  • For students, leasing an apartment can be made simpler with good credit: The better you appear to a landlord, the higher your credit score represents your creditworthiness. In a market where rentals are competitive, this is especially true. Moving in without making a security deposit may also be an advantage. Although there are several cutoffs, a FICO score of 670, which is in the excellent range, can be helpful when looking to rent an apartment. If your credit score is in the mid-600s or lower, according to myFICO, the consumer arm of credit analytics Company FICO, the landlord might look into your credit history more closely.
  • To finance a home or car, you must have good credit: Your ability to obtain a mortgage or vehicle loan with a low-interest rate will be aided by solid credit history. Your monthly payment may be more affordable if your credit score is higher. Even a 20-point difference in credit scores can result in thousands of dollars in savings throughout a loan.

Who Should Apply for A Student credit card?

Being a college student is not sufficient to qualify for a student card. What you should know is as follows.

  • Student status may or may not be meaningful: For information on application eligibility, consult the card’s terms and conditions on the issuer’s website. For instance, the Discover it® Student Cash Back guidelines state, “You must be a college student,” but the Journey Student Rewards from Capital One has no clear student requirement.
  • Who is eligible to apply for credit cards under federal law if under 21: Without independent income documentation or a co-signer who agrees to take on the obligation if the primary cardholder doesn’t pay the bill, issuers are not allowed to issue cards to individuals under 21. Since most big credit card companies don’t accept co-signers, this could be a barrier.
  • Proof of income is also necessary for those 21 or older: They may disclose any source of income to which they have a “reasonable expectation of access.”
  • Bad credit is usually a dealbreaker: Student credit cards are made for people with little to no credit history, so bad credit is typically a deal-breaker. You probably won’t get approved for a student card on your own if you have low credit due to missing payments or other mistakes. Consider a card made especially for those with poor credit in that scenario.

Alternatives to Getting a Student Credit Card

Try one of these options if you can’t get approved for a student credit card or if you’re not sure you’re ready for one:

  • Obtain approved user status: Ask a creditworthy parent, spouse, or friend to add you as an authorized user on their credit card. This will allow you to use the card but release you from financial responsibility. Regardless of who makes the purchase, the primary cardholder is responsible for paying the balance. (secured credit card) This arrangement can improve your credit as long as the card issuer reports account activity to the credit agencies and the cardholder pays the bill in full and on time. Late payments or significant obligations might lower your credit ratings.
  • Apply for a secured credit card: A secured credit card necessitates the establishment of an account with a security deposit. The security deposit lowers the risk for the card issuer, who may use it to settle your amount if you don’t make your payments as agreed. The amount of the deposit you make to create the account determines your credit limit, and the money is frequently refundable. A secured credit card can establish or repair credit before you advance to a better card.

How To Avoid Student Card Debt?

Always read the small print and understand the terms of any credit card agreement before you sign it. By managing your finances and educating yourself, you can generally prevent the horror story you may have heard involving enormous debt and damaged credit. Refraining from spending money you don’t have.

Try looking through some of our educational resources on topics crucial to comprehending credit cards if you don’t believe you have the knowledge or experience with credit or credit cards yet.

How To Apply For A Student Credit Card?

The next step is to apply for the credit card that best fits your lifestyle as a student if you’ve already chosen it. Here’s how to apply for a student credit card when ready.

  • Check your credit rating: Knowing your credit score, you can find out which cards you’re likely to get approved for.
  • Find the card application on the issuer’s website: Once you’ve decided on the card you want, go to the issuer’s website and look for the application. Before completing an application, you might be able to find out if you already qualify for the card (without having this affect your credit score), which might help you feel more at ease.
  • Application submission: Before beginning, make sure you have all of your application’s information ready. You must provide your name, address, and other identifying information in addition to your income, which, if you are over 21, maybe more than what you make from a job. This also applies to any allowances or pay from a spouse, provided you have reasonable access to the money.
  • Receive the application decision: Issuers may occasionally send a fast decision, but it may also take a few days. The issuer is legally required to provide you with a letter outlining the reasons why your application was rejected if it is rejected.
  • Prepare a budget and a payback strategy: A solid spending plan and a clear strategy for paying back your debts are the foundation of responsible credit use. Make a note of your minimum payment amount and due date so that you can always make your payments on time.

Frequently Asked Questions

Is Capital One credit card suitable for students?

credits card for students

Our Opinion. A decent starter card for students is Capital One’s Journey Student Rewards. Since it has no annual cost, foreign transaction fee, or returned payment fee, you can recover some money back and avoid recurring fees.

For college students, which Capital One card is the best?

credit cards for students

Card Capital One for Students
Overall: Credit card from Capital One with Quicksilver Student Cash Rewards.
Capital One SavorOne Student Cash Rewards Credit Card for Dining & Entertainment.
Journey Student Rewards from Capital One has no annual fee.
Capital One Quicksilver Cash Rewards Credit Card: Good Credit.

Can you build a credit card using a student credit card?

Discover it® Student Cash Back

A student credit card is an excellent place to start when building credit. While you’re still in school, making strong credit might not seem a top priority, but you’ll need it later if you want to finance a car, purchase a home, or be eligible for the best credit card offers.

Does Quicksilver win over Journey?

Chase Freedom® Student credit card

The Journey Student Rewards’ requirements for the introductory bonus are simpler to fulfill—you only need to make on-time payments on your credit card bills each month—but the Quicksilver Student Cash Rewards has an easier-to-attain welcome bonus of $100, making it the apparent winner in this area.

What Capital One card is the most difficult to gain?

Discover it® Student chrome

Getting one of the most challenging credit cards is difficult: Due to the $395 annual premium and requirement for exceptional credit, the Capital One Venture X Rewards Credit Card is challenging.

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