Best Student Credit Cards: Managing money as a student can be tricky, especially with limited income and expenses piling up. A student credit card is a great way to build financial responsibility while also enjoying benefits like cashback, rewards, and purchase protection. But with so many options available, how do you choose the right one?
This guide will walk you through everything you need to know about student credit cards—from their benefits to the best ones available. By the end, you’ll have a clear understanding of which student credit card fits your needs best.
What is a Student Credit Card?
A student credit card is designed specifically for college students who may have little to no credit history. These cards often come with lower credit limits, fewer fees, and rewards tailored to student spending habits, such as dining, entertainment, and school-related purchases.
How Student Credit Cards Differ from Regular Credit Cards
- Lower Credit Limits – Since students are new to credit, issuers set lower spending limits to prevent excessive debt.
- Easier Approval – Most student credit cards don’t require a credit history, making them easier to obtain.
- Educational Tools – Many student cards offer resources to teach financial responsibility.
- Rewards for Students – Some cards provide cashback on common student expenses like groceries and streaming services.
Benefits of Student Credit Cards
A student credit card isn’t just a spending tool; it can help shape your financial future. Here’s how:
1. Helps Build Credit History
Using a student credit card responsibly helps you establish a good credit score, which is crucial for future loans, renting an apartment, or even getting a job.
2. Offers Rewards and Cashback
Many student cards offer cashback or rewards on purchases like gas, food, and entertainment, helping students save money on everyday expenses.
3. Provides Financial Flexibility
Unexpected expenses come up, and having a credit card can provide a financial cushion when needed.
4. Teaches Responsible Money Management
Using a credit card wisely instills good financial habits early on, such as budgeting and timely payments.
Key Factors to Consider When Choosing a Student Credit Card
Before applying for a student credit card, consider these crucial factors:
1. Interest Rates and APR
A low-interest rate is ideal in case you carry a balance, though paying in full each month avoids interest charges.
2. Fees and Charges
Look for a card with no annual fees, late payment penalties, or foreign transaction fees if you plan to travel.
3. Credit Limit
A reasonable credit limit prevents overspending but still allows flexibility for necessary purchases.
4. Rewards and Perks
Cashback, discounts on subscriptions, and bonuses for good grades can add extra value to your card.
5. Security Features
Look for fraud protection, zero-liability policies, and mobile banking features for better security.
Best Student Credit Cards
Here’s a comparison of the top student credit cards:
| Credit Card | Annual Fee | Rewards | APR | Best For |
|---|---|---|---|---|
| Discover It Student Cash Back | $0 | 5% cashback in rotating categories | 17.99% – 26.99% | Cashback rewards |
| Capital One SavorOne Student | $0 | 3% cashback on dining & entertainment | 19.99% – 29.99% | Dining and entertainment |
| Chase Freedom Student | $0 | 1% cashback on all purchases | 16.49% – 25.49% | Building credit |
| Bank of America Travel Rewards Student | $0 | 1.5 points per $1 spent | 18.99% – 27.99% | Travel benefits |
| Petal 2 “Cash Back, No Fees” | $0 | Up to 1.5% cashback | 16.74% – 30.24% | No fees, credit building |
Each of these cards has its own strengths, whether it’s cashback rewards, travel benefits, or credit-building opportunities.
Best Student Credit Cards for Cash Back
Cashback credit cards can help students save money on everyday purchases. These cards offer a percentage of your spending back in the form of cash rewards, which can be redeemed for statement credits, gift cards, or direct deposits.
Top Student Cashback Credit Cards
Discover It® Student Cash Back
- 5% cashback in rotating categories (gas, groceries, restaurants, etc.)
- 1% cashback on all other purchases
- First-year cashback match (Discover matches all cashback earned in the first year)
- 3% cashback on dining, entertainment, streaming services, and grocery stores
- 1% cashback on all other purchases
- No annual fee
Chase Freedom® Student Credit Card
- 1% cashback on all purchases
- $50 bonus after first purchase within the first 3 months
- Credit limit increase review after 5 on-time payments
If you frequently spend on dining, groceries, or entertainment, a cashback credit card can be a great way to earn money back on your purchases.
Best Student Credit Cards for No Annual Fee
Since students usually have a limited budget, avoiding unnecessary fees is crucial. Many credit cards charge an annual fee just for using the card, but some great student credit cards come with no annual fee, allowing students to build credit without extra costs.
Best No Annual Fee Student Credit Cards
- No annual fee
- 2% cashback on restaurants and gas (up to $1,000 per quarter)
- 1% cashback on all other purchases
- First-year cashback match
Bank of America® Customized Cash Rewards Student
- No annual fee
- 3% cashback in a category of your choice (gas, dining, online shopping, etc.)
- 2% cashback at grocery stores and wholesale clubs
- 1% cashback on all other purchases
Petal® 2 “Cash Back, No Fees” Visa Card
- No fees at all (no annual fee, late fees, or foreign transaction fees)
- 1.5% cashback on all purchases
- Helps build credit with responsible use
For students looking to save money, a no annual fee credit card is a great choice since it avoids unnecessary costs while still offering rewards and benefits.
Best Student Credit Cards for Building Credit
A student credit card is one of the best tools for establishing and improving your credit score. Since credit history is crucial for future financial decisions (like renting an apartment or getting a car loan), starting early can be beneficial.
Top Credit-Building Student Credit Cards
Capital One Quicksilver Student Card
- No annual fee
- 1.5% cashback on all purchases
- Reports to all three credit bureaus
- No annual fee
- Good for responsible credit use with automatic reviews for credit line increases
Chase Freedom® Student Credit Card
- Reports to major credit bureaus
- $50 bonus after first purchase
- Offers credit score monitoring
Using a student credit card responsibly—paying on time, keeping balances low, and avoiding unnecessary debt—can help students build a solid credit history.
Best Student Credit Cards for International Students
International students face unique challenges when trying to get a credit card in the U.S. because they often lack a Social Security Number (SSN) and credit history. Fortunately, some issuers allow international students to qualify using alternative forms of identification.
Best Credit Cards for International Students
Deserve® EDU Mastercard for Students
- No SSN required for application
- No annual fee
- 1% cashback on all purchases
- Free Amazon Prime Student membership for one year
Capital One Quicksilver Student Cash Rewards
- No foreign transaction fees
- 1.5% unlimited cashback on all purchases
- No annual fee
Petal 2 “Cash Back, No Fees” Visa Card
- No SSN required for international students
- 1.5% cashback on all purchases
- No annual fee or foreign transaction fees
International students should look for cards with no foreign transaction fees and alternative application options if they don’t have an SSN.
Best Secured Credit Cards for Students
If you have no credit history or a low credit score, a secured credit card can be a great way to start building credit. Unlike regular credit cards, secured credit cards require a refundable deposit that acts as your credit limit.
Best Secured Credit Cards for Students
Capital One Platinum Secured Credit Card
- Minimum $49 deposit required
- No annual fee
- Reports to all three major credit bureaus
Discover It® Secured Credit Card
- Minimum $200 refundable deposit
- 2% cashback at gas stations and restaurants
- No annual fee
OpenSky® Secured Visa® Credit Card
- No credit check required
- Requires a refundable deposit ($200 – $3,000)
- Helps build credit by reporting to major bureaus
If you’re new to credit and struggling to get approved for a traditional student credit card, a secured credit card is a great way to start building credit responsibly.
How to Apply for a Student Credit Card
Applying for a student credit card is easy if you meet the basic requirements. Follow these steps:
Step-by-Step Application Process
Check Your Eligibility – Some student credit cards require proof of student status. Others may require an income source.
Compare Credit Card Options – Choose a card that aligns with your spending habits and financial goals.
Gather Necessary Documents – You may need:
- Government-issued ID
- Proof of student status (if required)
- Social Security Number (or ITIN for international students)
- Proof of income (if applicable)
Apply Online – Most student credit card applications are completed online and receive instant approval or denial.
Start Using Responsibly – If approved, use your card wisely by paying on time and keeping balances low.
Tips for Using a Student Credit Card Responsibly
To maximize the benefits of your student credit card and avoid debt, follow these responsible usage tips:
- Pay Your Balance in Full – Avoid interest charges by paying your bill in full each month.
- Keep Your Credit Utilization Low – Try not to use more than 30% of your credit limit.
- Set Up Auto-Payments – Prevent late payments by automating your bill payments.
- Avoid Unnecessary Purchases – Don’t use your credit card for things you can’t afford.
FAQs about Best Student Credit Cards
1. What are the benefits of having a student credit card?
Student credit cards offer many benefits, including the opportunity to build credit at an early stage, learn financial responsibility, and enjoy rewards such as cash back on purchases, travel perks, and more. They often come with lower credit limits and forgiving terms to accommodate the financial inexperience of students.
2. How do I qualify for a student credit card?
To qualify for a student credit card, you typically need to be enrolled in a recognized college or university and be at least 18 years old. Some cards may require proof of income or a co-signer if you do not have an independent income or previous credit history.
3. What should I look for in a student credit card?
When choosing a student credit card, consider the annual fee, interest rates, and rewards programs. Look for cards that offer educational resources about credit, fraud protection services, and reports to major credit bureaus to help build your credit score.
4. Are there any risks associated with student credit cards?
The primary risk is accruing debt that cannot be comfortably managed, which can negatively impact your credit score. It’s important to understand the terms of your credit card, spend within your means, and pay your balance in full and on time each month.
5. Can international students obtain student credit cards?
Yes, international students can apply for student credit cards, though they may face stricter requirements such as providing a Social Security number or applying with a co-signer. Some financial institutions offer cards specifically designed for international students.
Conclusion
A student credit card is an excellent tool for building credit, earning rewards, and learning financial responsibility. The best student credit card for you depends on your spending habits and financial goals. Choose a card with no annual fees, reasonable rewards, and low interest rates to make the most of your financial journey.
