7 best student credit cards

A good credit score plays a key role in many important life decisions that arise after graduation, such as renting an apartment or applying for an auto loan. One effective way to start building your credit early is by opening a student credit card, which offers the added benefit of rewards and special financing options.

Student credit cards are designed to meet the needs of various types of students—whether you’re a traveler, a foodie, or a commuter. Many of these cards are flexible when it comes to credit history, meaning you might qualify even if you don’t have one yet. However, to apply, you must be at least 18 years old and have a reliable source of income.

Discover it® Student Cash Back

The Discover it® Student Cash Back card is a great option for college students, offering a no-annual-fee structure while allowing them to build credit and earn rewards.

Rewards

• 5% cash back on up to $1,500 in purchases each quarter in rotating categories (activation required).
• 1% cash back on all other purchases.

Welcome Bonus

• Discover will match all the cash back you’ve earned at the end of the first year.

Annual Fee

• $0.

Key Benefits

• No foreign transaction fees, making it a strong choice for students studying abroad.
• A 0% introductory APR on purchases for the first six months, after which a variable APR of 17.74% – 26.74% will apply.

Discover it® Student Chrome

The Discover it® Student Chrome card is a rewarding cash-back option with an attractive welcome offer.

Rewards

• 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically.
• Unlimited 1% cash back on all other purchases.

Welcome Bonus

• Discover will match all the cash back you’ve earned at the end of the first year.

Annual Fee

• $0.

Key Benefits

• No foreign transaction fees, making it an ideal choice for students studying or traveling abroad.
• Cash back can be redeemed at any time with no minimum redemption requirements.

Capital One Savor Student Cash Rewards Credit Card

The Capital One Savor Student Cash Rewards Credit Card offers excellent cash-back rewards, making it a strong choice for students looking to maximize their spending.

Rewards

• 8% cash back on Capital One Entertainment purchases.
• 5% cash back on hotels and rental cars booked through Capital One Travel.
• 3% cash back on dining, entertainment, popular streaming services, and grocery store purchases (excluding large superstores like Walmart and Target).
• 1% cash back on all other purchases.

Welcome Bonus

• New cardholders can earn a $50 bonus when they spend $100 in the first three months.

Annual Fee

• $0.

Key Benefits

• No annual fee or foreign transaction fees.
• Additional perks include extended warranty coverage on eligible items, complimentary concierge service, and travel accident insurance.

Firstcard® Secured Credit Builder Card with Cashback

The Firstcard® Secured Credit Builder Card with Cashback stands out by offering both cash-back rewards and the opportunity to earn interest on your account balance.

Rewards

• Up to 15% cash back at over 29,000 partner merchants.
• Up to 10% Random Cashback on eligible purchases.
• An additional 1% Unlimited Cashback with Firstcard Premium on all qualifying transactions, combining with the two cashback options (Merchant Cashback and Random Cashback).
• Earn 0.75% to 4% APY on bank account balances. (Earn up to 4.00% APY with Firstcard Premium and up to 2.00% APY with Firstcard+).

Welcome Bonus

• Subscribe to Firstcard+ annually before January 1, 2025, and enjoy Firstcard Premium at the current Firstcard+ rate ($48/year) for one year, saving $72!

Annual Fee

• Firstcard Standard: $4.99/month or $48/year.
• Firstcard+: $8.99/month or $84/year.
• Firstcard Premium: $12.99/month or $120/year.

Key Benefits

• The Firstcard Secured Credit Builder Card has low fees, with no overdraft or late fees.
• You earn interest on the bank account balance securing your credit limit, and this account is FDIC-insured.

BankAmericard® Credit Card for Students

The BankAmericard® Credit Card for Students is an ideal choice for students looking to finance a significant purchase.

Rewards

• None

Welcome Bonus

• None

Annual Fee

• $0

Key Benefits

• This card offers an introductory 0% APR for 18 months on purchases and balance transfers made within the first 60 days. After that, a variable APR of 16.24% – 26.24% applies.
• A 3% fee applies to balance transfers.

Bank of America® Travel Rewards for Students

The Bank of America® Travel Rewards for Students is a student credit card with no annual fee, offering points that can be easily redeemed for travel-related expenses.

Rewards

• Earn 1.5 points per dollar on every purchase.

Welcome Bonus

• Receive 25,000 bonus points after spending at least $1,000 within the first 90 days of opening the account.

Annual Fee

• $0

Key Benefits

• Points can be redeemed as a statement credit for eligible travel purchases, making it a great way to offset travel costs, such as a spring break trip or a flight home.
• The card has no foreign transaction fees, making it a good option for students studying abroad.

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

The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is a great choice for college students. It’s designed to be easy to qualify for, with no credit score required. Instead, Petal reviews your banking activity and financial information to determine your eligibility.

Rewards

• 1% cash back on eligible purchases immediately, which increases to 1.5% after 12 on-time monthly payments.
• 2% to 10% cash back at select merchants.

Welcome Bonus

• None

Annual Fee

• $0

Key Benefits

• The main advantage of the Petal 2 card is that it has no fees.
• By making 12 on-time payments, you can earn up to 1.5% cash back, promoting responsible financial behavior while increasing your rewards.
• After six qualifying on-time payments, you may be eligible for a credit limit increase.

What is a Student Credit Card?

A student credit card is specifically designed for college students, who often have limited credit histories. These cards typically offer fewer rewards and smaller introductory bonuses, if any at all. However, they provide an excellent opportunity for students to start building their credit while still in school.

How to Compare Student Credit Cards

When comparing student credit cards, it’s important to examine the details closely to fully understand the benefits, fees, and APR. The first thing to consider is the annual fee. If the card has one, you’ll need to pay it annually, whether or not you use the card. Pay attention to the APR and other fees, such as late payment fees or returned payment fees. If you anticipate missing payments or carrying a balance, it might be wise to consider using a debit card instead, as credit cards can add interest charges.

One of the main benefits of a student credit card is the opportunity to earn rewards. Consider how rewarding each card is and whether it aligns with your spending habits. Some cards offer attractive introductory bonuses, which can be a key factor in making your decision.

How to Choose the Right Student Credit Card

When selecting a student credit card, start by determining what you need from the card. Are you interested in earning rewards for travel? A travel rewards card might be the best choice. Alternatively, if you want to finance a big purchase like a new laptop, a card offering 0% introductory APR on purchases could be ideal.

Once you’ve identified your priorities, it becomes easier to find a card that meets your needs. Keep in mind that credit cards come with fees and interest charges if you carry a balance. These can negate the value of the card’s rewards, so it’s important to choose wisely. For instance, a card with no foreign transaction fees is a must-have if you’re studying abroad, as these fees can quickly accumulate.

How to Maximize Your Student Credit Card

To make the most of your student credit card, it’s essential to fully understand its benefits. Know which purchases earn you the most rewards and focus on using your card for those types of transactions. If your card offers a welcome bonus, make sure you understand the requirements to earn it.

A major advantage of having a credit card as a student is the opportunity to build your credit. To do so, make sure to pay your bill on time every month and aim to pay off your balance in full. Consistently doing this will gradually improve your credit score, which can help you secure better financial offers in the future.

Conclusion

A student credit card is a valuable tool for establishing a credit history, improving your credit score, and earning rewards. There are many options available, including cards that offer bonus rewards for everyday expenses like dining or gas, tailored to meet the needs of college students.