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College students are at a crossroads. This situation means that one of the basic building blocks to the future, credit, can be hard to find. Banks want loyal customers for life, but they don’t want to give credit to folks that can’t pay it back.
Enter the student credit card. With smaller credit limits and rewards tailored to those in college, student credit cards can provide a bridge to more valuable credit offers in the future. Note that the Credit CARD Act of 2009 stipulates that credit cards cannot be issued to anyone under 21 unless a parent or guardian cosigns for them or they have independent income.
1.5X Reward Rate
Earn unlimited 1.5X points for every $1 you spend on all purchases everywhere, every time and no expiration on points
25,000 points
$0
13.99% - 23.99% Variable APR on purchases and balance transfers
Good/Excellent (700 - 749)
Students studying abroad will pay no foreign transaction fees (and no annual fee) while earning flat-rate rewards points with flexible travel redemption options. This isn't a good card for balance transfers, however, as the intro APR offer only applies to purchases.
Up to 5% Reward Rate
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations andRead More
Cashback Match™
$0
12.99% - 21.99% Variable
Fair/New to Credit
Here's an excellent way for students with average or limited credit scores to gain experience managing credit. No annual fee, no penalty APR, a "good grades" statement credit for up to 5 years for eligible students that maintain a GPA of 3.0 or higher, plus up to 5% cashback rewards in rotating categories(up to a quarterly cap with enrollment, 1% back on other purchases) earn this card an "A" in our book.
Up to 3% Reward Rate
Earn 3% cash back in the category of your choice (6 categories available)*; Earn 2% cash back at grocery storesRead More
Online $200 cash rewards
$0
13.99% - 23.99% Variable APR on purchases and balance transfers
Fair (650 - 699)
This card scores an 'A+' for students in need of an intro APR offer and no annual fee, while still earning impressive cash-back rewards.
If you're a student building credit, the Discover it® Student chrome is an excellent starting point on your credit journey. You'll gain access to a respectable rewards program and reasonable APR, with no pesky annual fee.
$50 bonus
$0
14.99% Variable
Excellent/Good Credit (700 - 749)
The Chase Freedom Student credit card earns a passing grade. New cardholders can earn a $50 bonus after their first purchase, plus an additional $20 per year just for keeping their credit card in good standing. There is no annual fee and you may earn a credit limit increase after making five monthly payments on time. That said, there are other options that also compete for top of the class ranking.
1% Reward Rate
Earn 1% cash back on all purchases
N/A
$0
18.74% Variable
Limited/No Credit
For international students or students without a credit history, the Deserve EDU Mastercard is a compelling option with no annual fee and a flat 1% cash back reward. However, for those with a solid credit history, better student cards are out there.
To identify the best student credit cards, we first gathered data on those cards designed for college students. The editorial team then analyzed the cards, focusing on factors such as annual percentage rate, fees, and rewards. We favored cards with no annual fee, a reasonable APR, and student-friendly rewards.
Finding the best credit card for your needs can be overwhelming, especially if you’re new to the world of credit. Before applying, consider your options. Here are some questions to ask:
For most students, getting a credit card can be a challenge. That’s partly due to the passage of the CARD Act of 2009, which prohibited issuers from approving credit card applications from anyone under 21 without a parent or guardian cosigner or proof that the applicant has enough independent income to make the minimum monthly required payment amount on the maximum amount of credit issued.
Most young adults also haven’t had a chance to build up enough a credit profile to qualify for many cards, which means the best option for a first credit card to build credit is to apply for either a credit card for fair credit or a secured card, which requires a refundable security deposit.
There are a handful of cards available that don’t require credit checks and/or a deposit but these typically come with higher-than-average APRs, annual fees and other fees that are best avoided like account opening fees or fees for requesting a higher credit limit.
College student credit cards aren’t actually different from other credit cards, they’re just marketed towards college students who may otherwise have a challenging time being approved for a credit card.
A college student credit card, which is a first credit card for many, will typically have more forgiving underwriting standards than a card designed for those with good credit. This means you will qualify with a lower credit score than the standard version of the card would require. Some college credit cards even offer some perks just for students, like the Discover it® Student Cash Back which offers a $20 statement credit each school year if your GPA is 3.0 or higher for up to five years.
That depends on both the card you’re applying for and your credit history. Even though many student credit cards are aimed at those with little or no credit, there’s a difference between a lack of credit history and a bad credit history.
If you have made some missteps, you may not qualify for the student card you want. In that case, work on building your credit profile with a secured card that reports to all three of the major credit bureaus. Once you improve your score, it will be easier to get an unsecured credit card.
Most issuers require an applicant to be at least 18 years of age to apply for a credit card in their own name. The provisions of the CARD Act of 2009 state that anyone under 21 can only open a credit card account with either a cosigner or proof that they earn enough independent income to meet minimum monthly payments on the maximum amount of their credit line.
If you’re between 18 and 21, you either have to earn enough income independently to make the minimum monthly payments on the maximum amount you can charge on the card or you have to have a cosigner to get a credit card.
If you can’t get a student credit card, consider a secured card, which gives you a line of credit in exchange for a refundable security deposit. Ideally, you’ll get a secured card that reports to all three credit reporting agencies so you can work on building a strong credit profile and eventually graduate to an unsecured card.
International students may not qualify for many types of credit cards as they likely won’t have any credit history in the U.S. In that scenario, applying for a secured card is a great first step towards building up a strong credit profile.
A secured card gives you a line of credit in exchange for a refundable security deposit and with regular on-time payments can show a successful track record of responsible payment behavior. The Deserve® EDU Mastercard for Students is one of the few that doesn’t require a social security number for international students.
Any credit card—student or otherwise—can help you improve or build your credit history with responsible usage like regular on-time payments and low credit utilization. Working toward a strong credit profile is a smart money move that can save you hundreds, even thousands on other types of loans, including student loans, card loans and mortgages later in life.
