As college and university students embark on their journey to financial independence, one of the first steps is to establish a good credit score. A credit card can be a valuable tool in building credit, managing expenses, and learning responsible financial habits. However, with so many options available, it can be overwhelming to choose the right one. In this listicle, we’ve compiled the 7 best credit cards that are designed specifically for students starting their credit journey. These cards offer a mix of benefits such as low fees, rewards programs, and educational resources to help you build a strong financial foundation.
1. Discover it Student Cash Back
The Discover it Student Cash Back card is a fantastic option for students who want to earn rewards while they learn to manage credit. With no annual fee and a generous cashback program that offers 5% on rotating categories each quarter, such as gas stations, grocery stores, and online shopping, up to the quarterly maximum when you activate. On all other purchases, you’ll earn 1% cash back. Discover also matches all the cash back you’ve earned at the end of your first year, and you can monitor your FICO Credit Score for free. The card comes with an introductory APR offer and is forgiving on the first late payment, which can be a safety net for new cardholders.
2. Journey Student Rewards from Capital One
The Journey Student Rewards from Capital One is tailored towards students looking to earn rewards while building a solid credit history. This card offers a flat 1% cash back on all purchases, with the opportunity to bump that up to 1.25% each month you pay on time. There’s no annual fee to worry about, and the card also grants access to a higher credit line after making your first 5 monthly payments on time, a great feature for boosting your credit score. Additionally, Capital One provides tools for monitoring your credit profile with the Credit Wise service, available to everyone, not just cardholders.
3. Bank of America Travel Rewards Credit Card for Students
If you’re a student with a case of wanderlust, the Bank of America Travel Rewards Credit Card for Students might be your perfect match. This card lets you earn 1.5 points for every dollar spent on all purchases, with no restrictions or blackout dates on travel bookings. The points can be redeemed for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees. With no annual fee and no foreign transaction fees, it’s an ideal card for studying abroad or spring break trips. Plus, you can earn 25,000 online bonus points after making at least $1,000 in purchases in the first 90 days of account opening – enough to redeem for a $250 statement credit toward travel purchases.
4. Chase Freedom Student Credit Card
The Chase Freedom Student Credit Card is a great starter card that helps build credit with good habits. Offering a flat 1% cash back on every purchase, it incentivizes good credit behavior by granting a $20 Good Standing Rewards after each account anniversary year for up to five years. There is no annual fee, keeping cost to a minimum for cash-strapped students. The card also facilitates credit growth by automatically considering you for a credit limit increase after five on-time payments within the first 10 months from account opening. Additionally, Chase provides a free credit score and identity monitoring services with Credit Journey.
5. Citi Rewards+ Student Card
The Citi Rewards+ Student Card stands out with its unique round-up feature, which rounds up purchases to the nearest 10 points, making it easier to collect rewards points quickly on small purchases. You’ll also earn 2X points at supermarkets and gas stations for the first $6,000 per year, and 1 point per dollar spent on all other purchases. There’s no annual fee, and the card provides an opportunity to earn extra points with a 2,500 bonus points offer after spending $500 within the first three months. To top it off, for those who enjoy shopping, Citi offers early access to purchase tickets to events with Citi Entertainment®.
6. Deserve EDU Mastercard for Students
The Deserve EDU Mastercard for Students is designed with international students in mind, requiring no Social Security Number for application. It offers a straightforward cash back program where you earn 1% on all purchases. There are no annual fees or foreign transaction fees, which is perfect for students who travel or study abroad. The card also comes with a one-year Amazon Prime Student membership reimbursement and provides valuable protections such as cell phone insurance and extended warranty coverage. The Deserve EDU Mastercard is an excellent choice for students who prefer a simple, no-fuss rewards structure and valuable benefits.
7. Petal 2 “Cash Back, No Fees” Visa Credit Card
Last but not least, the Petal 2 “Cash Back, No Fees” Visa Credit Card is ideal for students who are new to credit and want a card that grows with them. With no fees at all, Petal 2 is among the most student-friendly options on the market. It offers a cash back program that starts at 1% on eligible purchases right away, up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments. The card also provides 2% to 10% bonus cash back at select merchants. In addition, Petal uses a modern credit evaluation system, considering banking history and spending patterns, which can be helpful for students without a traditional credit history.
In summary, each of the credit cards listed offers unique benefits tailored to the needs of students starting their credit journey. Whether you’re looking for rewards, no fees, a simple application process, or tools to help you build good credit habits, one of these cards is likely to meet your needs. Remember to always read the terms and conditions carefully and to use credit responsibly to build a strong financial future.