To know about the best credit cards for students you must know what it is first. A student credit card is a type of credit card available to college students. Since there is no higher income limit on being qualified for the credit card, any student over the age of 18 may apply. These credit cards have a five-year validity life feature and very low-interest rates.
Students in colleges are at a turning point. Credit, the fundamental cornerstone of a bright financial future, can be challenging to secure. Banks prefer lifelong clients, but they don’t want to extend credit to people who can’t or won’t pay it back.
Here we have the student credit card. Student credit cards can act as a stepping stone to future credit offers with better terms because they include lower credit limits and benefits designed specifically for college students. The Credit CARD Act of 2009 made it clear that those under the age of 21 cannot be granted credit cards unless a parent or legal guardian cosigns for them or they have independent income.
Best Student Credit Cards For You
|Card Name||Best For||Credit Score||Annual Fee|
|Discover it Student Cashback||Best Overall||Fair/New to credit||NA|
|Bank of America Travel Rewards credit cards for Student||Best for Study Abroad||Good/Excellent||NA|
|Bank of America Unlimited Cash Rewards for Student||Best Balance Transfer Card for student||Good/Excellent||NA|
|Capital One Quicksilver Student Cash Rewards Credit Card||Best for Students with No Credit||Average, Fair, Limited||NA|
Overview Of The Cards
#1. Discover it® Student Cash Back
The Discover it® Student Cash Back is one of the best credit cards for students which offers a distinctive blend of high earning rates and an unusual welcome bonus for student cards; in fact, we name it the best cash back card for students and the greatest welcome bonus for students. Cardholders can earn significant cash back if they use their leverage wisely.
Rewards: Earn an introductory APR of 0% on purchases for six months; after that, a variable purchase APR ranging from 15.24% to 24.24% is in effect.
Other Advantages and Disadvantages: Keep in mind that Discover is not as widely recognised as Mastercard, Visa, or even American Express if you intend to travel or study abroad. The quarterly bonus categories might not match your spending habits, so you might not always earn to your full potential.
#2. Bank Of America® Travel Rewards Credit Card For Students
We recommend the Bank of America® Travel Points credit card for Students* because it features no foreign transaction fees, easy-to-earn rewards, and no annual fee. It also has a strong introductory bonus. Additionally, we name this card the Best Student Card for Simple Rewards and the Best Card for Students with 0% APR.
Rewards: Get a 0% introductory APR on purchases for 18 payment cycles. After that, purchases and balance transfers will have a regular APR ranging from 16.24% to 26.24% variable. The greater of $10 or 3% of each transaction’s value will be charged as the balance transfer fee.
#3. Bank Of America® Unlimited Cash Rewards For Students
The Bank of America® Unlimited Cash Rewards for Students* is a terrific option with a good rewards rate for a student card and a great low introductory APR on purchases and debt transfers. We can consider it one of the best credit cards for students.
Rewards: Gain 1.5% cash back indefinitely on all purchases.
Other Benefits and Drawbacks: The Bank of America® Unlimited Cash Rewards for Students* credit card stands out for its introductory 0% APR for 18 billing cycles on purchases and balance transfers. This is followed by a standard variable APR ranging from 16.24% to 26.24%.
#4. Bank Of America® Customized Cash Rewards Secured Credit Card
With the opportunity to switch categories every month, the Bank of America® Customized Cash Rewards Secured Credit Card* rewards cardholders with added cash back in a category of their choosing. Despite having a catchy name, the card’s cash-back earnings at supermarkets and wholesale clubs might ultimately turn out to be more profitable.
The credit limit on this secured card, which has a deposit requirement of a minimum $200 and a maximum $5,000, is determined by the deposit.
Rewards: Receive limitless cash back on all other purchases in addition to 3% cash back in the category of your choice (gas, online shopping, restaurants, travel, drug shops, or home improvement/furniture). On the first $2,500 in combined choice category, grocery store, and wholesale club purchases each quarter, receive 3% and 2% cash back. After that, earn 1%.
#5. Capital One Quicksilver Student Cash Rewards Credit Card
In the list of best credit cards for student The Capital One Quicksilver Student Cash Rewards Credit Card is another option for those who want to travel internationally but prefer cash rewards to travel points or miles because it has no foreign transaction fees and perks for travel accident insurance.
Rewards: Receive unlimited 5% cash back on all hotel and vehicle rental reservations made through the Capital One Travel site, as well as 1.5% cash back on every item when you book by using the Capital One Entertainment portal.
Other Perks and Drawbacks: The Capital One Quicksilver Student Cash Rewards card offers extended warranty benefits to lengthen warranties placed on qualifying goods in addition to access to Capital One Travel and free concierge services among its travel perks.
Frequently Asked Questions
1. Can International students apply for credit cards?
Ans. International students can typically apply for a variety of credit cards, yes. But applications for credit cards that call for a credit check (i.e., the majority of them) will demand either a Social Security number or an ITIN number. Even if there are additional procedures and the procedure could be trickier, it is still possible to get a credit card as an international student.
2. What is the best credit card for a student?
Ans. There isn’t a single credit card that fits every member of a particular demographic, but we think the Discover it® Student Cash Back is the greatest option overall.
3. Can you build credit with a debit card?
Ans. No, generally not. Experian Boost is one of many programmes that exist to assist consumers in establishing credit in unconventional methods, such paying a cell phone bill on time or using a buy now, pay later service (BNPL).