Are you a college student, looking for the Best Credit Cards you can apply for?, No need to search anymore. Below are the Best Credit Cards for College Students which you can apply for and also have enough benefit.
Best Credit Cards for College Students
A student credit card caters for college and university students who don’t have the income and credit score needed to be approved for a normal credit card.
Best Credit Cards for College Students is a tool for delaying payment for the stuff you buy. The credit card company lends you the money, and you pay them back at a later date, typically with additional interest.
As with most loans, the amount of interest you pay increases depending on how long you take to repay. But you can also pick the best credit card and it could be 0% for several weeks (or even months).
However, this helps with budgeting. There are other key benefits too, as we’ll explore below, without neglecting the pitfalls.
What is a student’s credit card?
Student credit cards usually have lower credit limits, higher APRs, and they also offer fewer rewards. However, used in the right way, student credit cards can be a great way to manage your finances and build your credit score.
Credit cards can provide several benefits for students, such as flexibility with spending, help with budgeting and also building a credit history which will help later in life, including getting a mortgage.
If you use them wisely, they can be a useful asset, and you can also make them work to your advantage by gaining cashback and loyalty points.
But credit cards also come with risks your debt could grow and interest charges can be high if you don’t pay off what you owe.
Best Credit Cards for College Students
Best Credit Cards for College Students are cards intended for use by college students who are new to credit. The best credit cards for students offer $0 annual fees, give at least 1% back in rewards on all purchases.
Also, report to all 3 major credit bureaus each month. Here are the best credit cards for college students for you:
1. Bank of America® Cash Rewards Credit Card for Students
The Bank of America Cash Rewards Credit Card is one of the Best Credit Cards for College Students, students earns U.S. News’ Best Credit Cards Award of 2021 for student credit cards. However, they selected the award winner for each category based on 2020 credit card data.
The Bank of America Cash Rewards Credit Card for Students offers several benefits to help students manage their budgets, such as no annual fee and up to 3% cashback.
The Bank of America Cash Rewards Credit Card for Students offers secure chip card and digital wallet technologies, online and mobile banking account alerts and optional overdraft protection.
Although some other credit cards offer higher rewards rates in certain categories. So, this card offers consistent earnings on every purchase.
Bank of America Cash Rewards Credit Card for Student’s card review: With appealing bonus categories and additional benefits to help cardholders develop good money habits, the Bank of America Cash Rewards Credit Card for Students is ideal for student spenders.
• Annual Fee: $0
‣ Intro Bonus: $200
• APR: 13.99% to 23.99%, based on your creditworthiness
Why You Should Choose This Card
The Bank of America Cash Rewards Credit Card for Students has so many benefits that is why we chose this; Here are some benefits attached to this credit card for students:
‣ Earns 3% cashback into a category of your choice
• Offers a 15-month 0% APR on purchases and balance transfers
‣ Charges no annual fee
Best Features Of The Bank of America Cash Rewards Credit Card for Students
1. No Annual Fee: The Bank of America Cash Rewards Credit Card for Students has no annual fee, so you can earn more rewards each year.
2. Introductory 0% APR for 15 billing cycles: The 15-billing-cycle 0% APR applies to purchases and any balance transfers made within 60 days of opening your account. After that, there is a variable APR of 13.99% to 23.99%, based on your creditworthiness.
3. Sign-up bonus: New cardholders receive a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening. The spending requirement for this bonus is lower than with many other rewards cards.
Their Rewards points
1. This card offers 3% cashback in a category of your choice, including gas, online shopping, travel, dining, drugstores, and home improvement and furnishings.
2. 2% cashback at grocery stores and wholesale clubs and 1% cashback on all other purchases.
3. The 3% and 2% cashback earnings are eligible for up to $2,500 in the combined choice category, grocery store and wholesale club purchases each quarter (then 1%). Rewards don’t expire.
4. Credit Score Access: Cardholders also receive access to their monthly FICO credit score for free. After you opt into the credit score program, they update your FICO score every month and you also receive tips and advice on how to maximize your credit score.
5. Additional Protections: The Bank of America Cash Rewards Credit Card for Students offers a variety of protections to save you money and keep your credit safe.
6. There is a $0 liability guarantee for fraudulent transactions. You’ll get account alerts on your card balance and when payments are due. And overdraft protection is available when you link your eligible Bank of America checking account to your credit card.
Visit Here for More Details and Apply.
2. Citi Rewards Student Credit Card
This another Best Credit Cards for College Students,
Students who spend a lot on gas and groceries may benefit, and the card’s rounding feature helps with small purchases. But more lucrative options exist when you use one of the Best Credit Cards for College Students.
The annual fee could be a decent choice as a starter card assuming you can qualify for it. The card is marketed to students who have good credit, which typically means a FICO credit score of 690 or higher.
That could be a tall order if you’re just starting with credit, and it’s unclear whether applicants with no credit will get it. (Citi didn’t offer details about qualification requirements for this card after several requests from NerdWallet for clarification.)
The card could be valuable for creditworthy students who frequently spend on gas and groceries, and its unique “roundup” feature boosts your earnings on small purchases like a snack on the way to class.
But there are other rewards-earning options out there for students, even for those who lack a credit history or Social Security number.
Card Type: Student.
Rewards:
2 ThankYou points per $1 spent at supermarkets and gas stations (for the first $6,000 spent per year).
1 ThankYou point per $1 spent on all other purchases.
10% points back for the first 100,000 ThankYou Points redeemed per year.
Rewards are rounded up to the nearest 10 points on every purchase. So if you buy a $3 college-ruled notebook, you get 10 points instead of three.
Redemption options:
You can redeem points for things like gift cards, travel, statement credits (for eligible purchases only) and shopping online with points at Amazon.com or BestBuy.com. But point values vary depending on how you redeem them.
If you redeem for gift cards, points are worth about 1 cent each. But redemption via Amazon will net you a point value of only about 0.8 cents each. Options such as statement credit often redeem at only a half-cent per point.
• Foreign transaction fee: 3%.
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3. Capital One Quicksilver Student Credit Card
Capital One Quicksilver Student Cash Rewards Credit Card is another Best Credit Cards for College Students, see details below;
1. Whether you’re at a 4-year university, community college or other higher education institution, this card might be an option for you
2. Earn unlimited 1.5% cashback on every purchase, every day
3. Enjoy no annual fee, foreign transaction fees, or hidden fees
4. You can help build your credit with responsible use of a card like this
5. No rotating categories or sign-ups are needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no limit to how much you can earn
6. Be automatically considered for a higher credit line in as little as 6 months
7. $0 fraud liability if your card is ever lost or stolen
8. Set up Autopay for your account and something will make automatically your payments every month
• Rates, fees & offers: Annual fee: $0
‣ Rewards rate: 1.5%
• Bonus offer: None
‣ Intro APR: N/A
• Ongoing APR
- APR: 26.99% Variable APR
- Cash Advance APR: 26.99%, Variable
‣ Balance transfer fee: $0 at this Transfer APR
• Foreign transaction fee: None
Visit Here for More Details and Apply.
4. Capital One Journey Student Credit Card
This is another Best Credit Cards for College Students, With the Journey Student Rewards from Capital One, you can build credit as a college student while earning cashback no spending acrobatics required. Boasting rewards for paying on time, this card makes it easy to establish good habits early on. Here’s what you should know before applying.
Journey Student Rewards from Capital One: Basics
1. Card type: College student.
2. Annual fee: $0.
3. Bonus: None.
4. Rewards: You’ll earn 1% cashback on all purchases, plus a 0.25% bonus every month you pay on time. That adds up to 1.25% in cashback.
5. APR: The ongoing APR is 26.99% Variable APR.
6. Foreign transaction fee: None.
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5. Capital One SavorOne Credit Card for Students
Capital One SavorOne Student Cash Credit Card is also one of the Best Credit Cards for College Students see details below;
1. Whether you’re at a 4-year university, community college or other higher education institution, this card might be an option for you because it is among the list of the 10 Best Credit Cards for College Students
2. Earn unlimited 3% cashback on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), with 1% on all other purchases. Plus, earn 8% cashback on tickets at Vivid Seats through January 2023.
3. Enjoy no annual fee, foreign transaction fees, or hidden fees
4. You can help build your credit with responsible use of a card like this
5. No rotating categories or sign-ups are needed to earn cash rewards; plus, cashback won’t expire for the life of the account and there’s no limit to how much you can earn
6. Be automatically considered for a higher credit line in as little as 6 months
7. $0 fraud liability if your card is ever lost or stolen
8. Set up Autopay for your account and your payments will be made automatically every month
• Rates, fees & offers: Annual fee- $0
‣ Rewards rate: 1%-8%
• Bonus offer: None
‣ Intro APR: N/A
• Ongoing APR
- APR: 26.99% Variable APR
- Cash Advance APR: 26.99%, Variable
• Balance transfer fee: $0 at this Transfer APR
‣ Foreign transaction fee: None
Visit Here for More Details and Apply.
6. Deserve Edu Credit Card for Students
Do you know that Deserve Edu Credit Card for Students is another Best Credit Cards for College Students. For college students and especially for international students the $0-annual-fee Deserve® EDU Mastercard for Students is an excellent starter credit card.
Because of Deserve’s alternative underwriting standards, it’s possible to qualify for the card with no credit history. And international students can qualify without a Social Security number, which often isn’t possible with traditional credit cards.
There’s also no security deposit required. The card further stands out with incentives like cashback and perks, rare benefits among cards for people without a credit history.
Deserve® EDU Mastercard for Students: Basics and benefits
The Deserve® EDU Mastercard for Students differs from other credit cards in that it relies on applicants’ financial documents and a proprietary algorithm to measure credit potential.
The startup company also looks at U.S. bank account balances to determine your ability to pay. Your contact information physical address, email address and phone number is also a factor.
Deserve is one of the 10 Best Credit Cards for College Students and it so looks at how information has changed over the years to determine whether it can reach you easily.
Although Deserve removes some obstacles to credit for many students, by law all applicants under 21 must prove they can pay their bills on their own. Like many other issuers, Deserve doesn’t allow co-signers. Details:
• Card Type: College student.
‣ Annual fee: $0.
• Rewards: Unlimited 1% cashback on all purchases.
‣ Interest rate: The ongoing APR is 18.74% Variable.
• Foreign transaction fees: None.
‣ Credit limit: Up to $5,000. Individual cardholders’ limits are determined during underwriting.
Other benefits:
1. Reports to three credit bureaus, TransUnion, Equifax and Experian. Paying the card on time and borrowing responsibly could help you build your credit.
2. Statement credit for a 12-month Amazon Prime Student subscription. Enjoy free two-day shipping, access to Prime movies and TV, and more.
3. New Prime subscribers can already get a six-month free trial and Deserve covers an additional 12 months up to $59 as a statement credit after you spend $500 in the first three billing cycles.
4. First, the late fee was waived.
5. Mastercard Platinum benefits. These include cell phone protection insurance and car rental collision waivers.
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7. Capital One Secured Credit Card
Unlike most cards that require a cash security deposit, applicants may qualify for a credit limit larger than their deposit.
Pulling together the money for a security deposit can be a major hurdle in getting a secured credit card, one of the best tools for building or rebuilding your credit.
The Capital One Platinum Secured Credit Card makes deposits a little less daunting, and that’s a big reason it’s one of NerdWallet’s favourite secured cards and also it is counted as one of the Best Credit Cards for College Students .
With an annual fee of $0 and a handful of features of special interest to people working on improving their credit score, the Capital One Platinum Secured Credit Card is a solid option for building credit.
Capital One Platinum Secured Credit Card: Basics
• Card type: Secured.
‣ Annual fee: $0.
• Interest rate: The ongoing APR is 26.99% Variable APR.
‣ Deposit requirement: Get a $200 credit line with an initial deposit of $49, $99 or $200, for those who qualify. You can deposit more money before your account opens to increase your credit limit up to a maximum of $1,000.
Rewards: None.
Foreign transaction fees: None.
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8. Chase Freedom Student Credit Card
It earns 1% cashback on purchases. And with responsible use, you may also qualify for “Good Standing” rewards, a potential credit limit increase and, perhaps eventually, access to a higher-tier Chase card. Terms apply.
For products in its class, the $0-annual-fee Chase Freedom® Student credit card gets good marks, thanks to its credit-building features, solid incentives and potential upgrade path to higher-end Chase cards.
While you must be a student to qualify, the card’s underwriting is friendly to those with thin or nonexistent credit files. It’s the only starter credit card Chase offers.
By comparison, other rewards-earning cards from Chase typically require at least good credit (FICO scores of 690 or above) a top bar to meet for credit newbies.
With responsible card use, you may qualify for “Good Standing” incentives, a potential credit limit increase and perhaps a product change to an even better Chase card after you graduate.
Still, it’s possible to find richer ongoing rewards on other student credit cards, and this card charges a foreign transaction fee, meaning it’s not ideal if you’re studying abroad and is one of the Best Credit Cards for College Students.
Chase Freedom® Student credit card: Basics
• Card Type: College student.
‣ Annual fee: $0.
• Bonus: $50 Bonus after first purchase made within the first 3 months from account opening.
‣ Rewards: 1% cashback on all purchases.
Visit Here for More Details and Apply.
9. Discover It Student Chrome Card
This student card earns 2% cashback on up to $1,000 per quarter in combined spending on gas and at restaurants, plus 1% on everything else.
With healthy rewards and no FICO credit history requirement, the Discover it® Student chrome is a generous exception to many other student credit cards.
The $0-annual-fee card features straightforward rewards, making it an outstanding choice for students. It earns 2% cashback at gas stations and restaurants on up to $1,000 in combined quarterly purchases and 1% on all other purchases.
Its introductory offers and good grade rewards can also stretch your student budget enough to cover a trip to the movies or a dinner out. Among student credit cards, the Discover it® Student chrome is an overachiever, and it rewards you for being one, too.
This credit card is also counted as one of the Best Credit Cards for College Students.
Discover it® Student chrome Card: Basics and benefits
• Card Type: College student.
‣ Annual fee: $0.
Sign-up bonus: INTRO OFFER: Unlimited Cashback Match only from Discover. Discover will automatically match all the cashback you’ve earned at the end of your first year!
So you could turn $50 cashback into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Their Rewards Points
1. 2% cashback at gas stations and restaurants on up to $1,000 in combined purchases per quarter.
2. 1% cashback on all other purchases.
3. They can redeem cashback in any amount for a statement credit, direct deposit, a store credit at select merchants, including Amazon or PayPal Credit. If you opt to redeem for gift cards or instant certificates from Discover partners, you’ll need a minimum of $5 in rewards first.
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10. Discover it Student Cash Back Card
The Discover it® Student Cash Back is a rare beast among student cards, offering generous cash-back rewards with an annual fee of $0. And even with no credit history at all, you may qualify. This is also one of the Best Credit Cards for College Students
Discover it® Student Cash Back: Basics
• Card Type: College student.
‣ Annual fee: $0.
Bonus: INTRO OFFER: Unlimited Cashback Match only from Discover. Discover will automatically match all the cashback you’ve earned at the end of your first year!
So you could turn $50 cashback into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Rewards: You’ll earn 5% cashback in categories that change every three months, on up to $1,500 in spending per quarter when you activate and 1% back on everything else.
APR: 0% intro APR on purchases for 6 months and 10.99% intro APR on Balance Transfers for 6 months, and then the ongoing APR of 12.99% – 21.99% Variable APR.
Foreign transaction fee: None.
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How to Compare different Credit Cards
The Best Credit Cards for College Students rarely offer the same rewards and perks as “regular” credit cards. That’s OK the main purpose of student cards is to build credit to qualify for better cards down the line.
A good student credit card will save you money and report to all three credit bureaus (more on that below); rewards are just a bonus.
Here are some factors to consider as you shop around with the Best Credit Cards for College Students:
1. Credit Reporting
The student credit card you choose should report to all three credit bureaus: TransUnion, Experian and Equifax. These companies gather the information used to calculate credit scores.
That’s why you want your excellent payment history recorded by all of them. All of our recommended student cards report to all three bureaus, except for the Deserve® EDU Mastercard for Students, which says it reports to Experian and TransUnion.
2. Annual Fee
It’s ideal to avoid an annual fee when you’re on a student budget. Besides keeping costs low, a no-annual-fee card makes it easier to keep an account open once you build enough credit to move on to better credit cards.
Without an annual fee, you can keep your original credit card open to keep the length of your credit history and benefit your credit score.
3. Introductory and Ongoing Interest Rates
Cards designed for people new to credit tend to have higher interest rates, so it’s best to pay your bill in full each month, which allows you to avoid paying interest entirely.
However, some student cards give you an introductory 0% interest period, which can be helpful if you have a big purchase you’ll need a few months to pay off.
4. Rewards
If you’re hoping to earn points or cashback for your spending, look for a card that offers a rewards rate of at least 1%. Some student credit cards are more generous, but 1% is a decent rate for a starter card.
You’ll get more value if you choose a card whose rewards align with your spending. The cards are listed among the 10 Best Credit Cards for College Students
Some cards also offer a sign-up bonus. These incentives might defray the cost of your college expenses, but only if you’re not overspending on earning them.
If you choose a student credit card with rewards, use it only for those purchases you already make within your budget.
5. Foreign Transaction Fees
Foreign transaction fees are surcharges on purchases made outside the country, usually 1% to 3% of the total amount of a transaction. That can represent a serious hit to a student budget if you’re spending a full semester in a study abroad program.
If you plan to travel outside the U.S., look for a student credit card that doesn’t charge foreign transaction fees. Some issuers, including Discover and Capital One, don’t charge these fees on any of their cards
6. International Acceptance
Another consideration when studying abroad is how easily you can use your credit card. Visa and Mastercard are widely accepted worldwide, but American Express and especially Discover are less so.
7. Security Deposit (for secured cards)
If you’re having a hard time qualifying for a student credit card, consider a secured card. These cards require a security deposit, which is usually equal to your credit limit.
Minimum deposit requirements are $200 to $300, but some can be as high as $500. Pulling together the deposit can be an obstacle to a student income, so you may have to save up for it, or ask someone to help.
You get your deposit back when you close your account in good standing or upgrade to a “regular” credit card with the same issuer.
What to Do With The Best Credit Cards for College Students After Graduation
Once you boost your credit score into the well-to-excellent range, you’re more likely to be approved for regular, non-student credit cards with richer rewards and enhanced features.
After you graduate and begin working (or move on to graduate school), consider your options with your student credit card:
1. Keep using it. In most cases, you can hold onto your student card even after you graduate. If there’s no annual fee on the card, there’s no harm in keeping the account open and continuing to use it. However, a different card might provide better rewards or a lower interest rate.
2. Upgrade it. Ask your issuer whether you can switch your account to a different card through a so-called product change. Doing so allows you to move to a card that better suits your needs while keeping the account open. That’s beneficial to your credit score because it helps preserve the length of your credit history.
3. Replace it. If you’re paying an annual fee on a student card you don’t plan to continue using, and the issuer won’t upgrade you, you’re probably better off applying for a better card and (once approved) closing the student card account.
4. Keep it but in a drawer. If you can’t (or choose not to) upgrade the card but you aren’t paying an annual fee, it’s smart to keep the account open even after you apply for other cards. Your credit score will benefit.
Use a simple “autopay and everyday” strategy to keep your account active with one purchase or several throughout the year.
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