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December 1, 2022
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Along with a generous rewards rate and sign-up bonus, the Discover it® Student Cash Back comes with a $0 annual fee and intro APR on purchases and balance transfers.
As if college exams and the post-graduation job hunt aren’t enough to think about while you’re a college student, there’s another thing that should be on your radar — building a great credit score. Fortunately, student credit cards make it possible to build credit when used responsibly. You may even get the chance to earn rewards along the way.
To help you in your search, we’ve chosen the best credit cards for college students through a review of cards available on LendingTree and from major issuers. Generally speaking, the best student credit cards come with no annual fee, easy credit requirements, and rewards or perks you can actually use.
Below, we highlight the pros and cons of each card, and we also answer some common questions about student cards that can help you in your decision.
Rewards rate: 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Annual fee: $0
Why we picked this card: We chose the Discover it® Student Cash Back as our top overall pick because it offers generous rewards with a $0 annual fee. Plus, applicants don’t even need a credit score to apply.
| Pros | Cons |
|---|---|
Generous cash back rate in popular categories Intro APR on purchases and balance transfers No late fee the first time you pay late (then $41) No penalty APR | Potential for high APR after intro offer ends Quarterly spending cap limits bonus rewards |
The Discover it® Student Cash Back is designed for students looking to establish and build their credit through responsible card usage. Along with letting cardholders monitor their progress with Discover’s free Credit Scorecard tool, the card offers one of the highest cash back rates you can earn with a student card.
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
There’s also a unique sign-up bonus for new cardmembers: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Plus, the Discover it® Student Cash Back offers a 0% Intro APR for 6 months on purchases from the date of account opening on purchases. After that, the interest rate will range from 16.74% - 25.74% Variable APR. There’s also an 10.99% Intro APR for 6 months for balance transfers, then a 16.74% - 25.74% Variable APR will apply.
Rewards rate: 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Annual fee: $0
Why we picked this card: We chose the Discover it® Student Cash Back as our top overall pick because it offers generous rewards with a $0 annual fee. Plus, applicants don’t even need a credit score to apply.
| Pros | Cons |
|---|---|
Generous cash back rate in popular categories Intro APR on purchases and balance transfers No late fee the first time you pay late (then $41) No penalty APR | Potential for high APR after intro offer ends Quarterly spending cap limits bonus rewards |
The Discover it® Student Cash Back is designed for students looking to establish and build their credit through responsible card usage. Along with letting cardholders monitor their progress with Discover’s free Credit Scorecard tool, the card offers one of the highest cash back rates you can earn with a student card.
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
There’s also a unique sign-up bonus for new cardmembers: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
Plus, the Discover it® Student Cash Back offers a 0% Intro APR for 6 months on purchases from the date of account opening on purchases. After that, the interest rate will range from 16.74% - 25.74% Variable APR. There’s also an 10.99% Intro APR for 6 months for balance transfers, then a 16.74% - 25.74% Variable APR will apply.
Rewards rate: 3% cashback in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases
Annual fee: $0
Why we picked this card: The Bank of America® Customized Cash Rewards Credit Card for Students lets cardholders earn 3% cashback in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases
| Pros | Cons |
|---|---|
Earn cash back in the category of your choice Intro APR offer for purchases and balance transfers $0 annual fee | Potential for high APR after the intro offer ends Quarterly spending cap on highest rewards rate |
When you’re a college student, it’s a good idea to get a head start on building a positive credit history. A $0 annual fee student card, such as the Bank of America® Customized Cash Rewards Credit Card for Students, can help you do that while earning rewards. Along with a good cash back rate in popular spending categories, cardholders can earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
The Bank of America® Customized Cash Rewards Credit Card for Students offers a purchase 0% Intro APR for 18 billing cycles for purchases After, a 17.74% - 27.74% Variable APR on purchases APR will apply. There’s also a balance transfer 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days After that, a 17.74% - 27.74% Variable APR on balance transfers APR.
Rewards rate: 3% cashback in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases
Annual fee: $0
Why we picked this card: The Bank of America® Customized Cash Rewards Credit Card for Students lets cardholders earn 3% cashback in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases
| Pros | Cons |
|---|---|
Earn cash back in the category of your choice Intro APR offer for purchases and balance transfers $0 annual fee | Potential for high APR after the intro offer ends Quarterly spending cap on highest rewards rate |
When you’re a college student, it’s a good idea to get a head start on building a positive credit history. A $0 annual fee student card, such as the Bank of America® Customized Cash Rewards Credit Card for Students, can help you do that while earning rewards. Along with a good cash back rate in popular spending categories, cardholders can earn $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
The Bank of America® Customized Cash Rewards Credit Card for Students offers a purchase 0% Intro APR for 18 billing cycles for purchases After, a 17.74% - 27.74% Variable APR on purchases APR will apply. There’s also a balance transfer 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days After that, a 17.74% - 27.74% Variable APR on balance transfers APR.
Rewards rate: 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
Annual fee: $0
Why we picked this card: The Capital One Quicksilver Student Cash Rewards Credit Card offers a solid flat cash back rate on every purchase.
| Pros | Cons |
|---|---|
Build credit for the future Cash back rewards on every purchase Sign-up bonus offer | High APR for purchases and balance transfers Fair/Limited credit required |
The Capital One Quicksilver Student Cash Rewards Credit Card is a good credit card for students who want to build credit and take advantage of a simple cash back program from a card with a $0 annual fee.
Cardholders earn 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). The competitive rate on everyday purchases is considerably better than the 1% rate you may see on some other cards, and cardholders don’t have to worry about or keep up with bonus categories, either.
The Capital One Quicksilver Student Cash Rewards Credit Card lets cardholders earn $100 when you spend $100 in the first three months. As for foreign transaction fees — there are none — making this card is also ideal for students who plan to travel overseas as part of their studies or during school breaks.
Rewards rate: 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply)
Annual fee: $0
Why we picked this card: The Capital One Quicksilver Student Cash Rewards Credit Card offers a solid flat cash back rate on every purchase.
| Pros | Cons |
|---|---|
Build credit for the future Cash back rewards on every purchase Sign-up bonus offer | High APR for purchases and balance transfers Fair/Limited credit required |
The Capital One Quicksilver Student Cash Rewards Credit Card is a good credit card for students who want to build credit and take advantage of a simple cash back program from a card with a $0 annual fee.
Cardholders earn 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply). The competitive rate on everyday purchases is considerably better than the 1% rate you may see on some other cards, and cardholders don’t have to worry about or keep up with bonus categories, either.
The Capital One Quicksilver Student Cash Rewards Credit Card lets cardholders earn $100 when you spend $100 in the first three months. As for foreign transaction fees — there are none — making this card is also ideal for students who plan to travel overseas as part of their studies or during school breaks.
Rewards rate: 1% unlimited cash back on all purchases.
Annual fee: $0
Why we picked this card: The Deserve® EDU Mastercard for Students lets international students apply without a Social Security number (SSN).
| Pros | Cons |
|---|---|
Can apply without an SSN Comes with one year membership for Amazon Prime Student Rewards on every purchase | Won’t build credit without an SSN High variable APR No sign-up bonus |
Whether you’re an American student with no credit history or an international student studying at a U.S. college, the Deserve® EDU Mastercard for Students could work for you. This card is aimed at applicants with any amount of credit history, and it doesn’t require an SSN for international students to apply. That said, the card won’t build credit history without an SSN linked to the account.
Cardholders also earn 1% unlimited cash back on all purchases. Other benefits include an Amazon Prime Student membership and cellphone protection. As for foreign transaction fees, there are none.
Rewards rate: 1% unlimited cash back on all purchases.
Annual fee: $0
Why we picked this card: The Deserve® EDU Mastercard for Students lets international students apply without a Social Security number (SSN).
| Pros | Cons |
|---|---|
Can apply without an SSN Comes with one year membership for Amazon Prime Student Rewards on every purchase | Won’t build credit without an SSN High variable APR No sign-up bonus |
Whether you’re an American student with no credit history or an international student studying at a U.S. college, the Deserve® EDU Mastercard for Students could work for you. This card is aimed at applicants with any amount of credit history, and it doesn’t require an SSN for international students to apply. That said, the card won’t build credit history without an SSN linked to the account.
Cardholders also earn 1% unlimited cash back on all purchases. Other benefits include an Amazon Prime Student membership and cellphone protection. As for foreign transaction fees, there are none.
Rewards rate: Earn 1% cash back on all purchases plus $20 Good Standing Rewards after each account anniversary for up to 5 years
Annual fee: $0
Why we picked this card: The Chase Freedom® Student credit card offers an easy-to-earn sign-up bonus: Cardholders receive a $50 bonus after first purchase made within the first 3 months from account opening.
| Pros | Cons |
|---|---|
Opportunity to earn a $20 Good Standing Reward each year (for up to 5 years) Sign-up bonus is easy to earn Cash back on every purchase | Lower rewards rate and bonus offer than some competing student credit cards Charges foreign transaction fees |
While many credit cards require you to spend a certain amount on purchases within a few months to earn a sign-up bonus, the Chase Freedom® Student credit card keeps things simple. Since this card just requires that you make a single purchase within three months of opening the account to earn its bonus offer, and doesn’t have a spending target you have to hit, it’s a great choice for students who spend very little while in college.
Cardholders also earn 1% cash back on all purchases plus $20 good standing rewards after each account anniversary for up to 5 years.
The interest rate on the Chase Freedom® Student credit card is also lower than you might find on some other student cards. However, foreign transaction fees of 3% of each transaction in U.S. dollars will apply to overseas purchases, so this may not be the card for you if you’re a frequent international traveler.
Rewards rate: Earn 1% cash back on all purchases plus $20 Good Standing Rewards after each account anniversary for up to 5 years
Annual fee: $0
Why we picked this card: The Chase Freedom® Student credit card offers an easy-to-earn sign-up bonus: Cardholders receive a $50 bonus after first purchase made within the first 3 months from account opening.
| Pros | Cons |
|---|---|
Opportunity to earn a $20 Good Standing Reward each year (for up to 5 years) Sign-up bonus is easy to earn Cash back on every purchase | Lower rewards rate and bonus offer than some competing student credit cards Charges foreign transaction fees |
While many credit cards require you to spend a certain amount on purchases within a few months to earn a sign-up bonus, the Chase Freedom® Student credit card keeps things simple. Since this card just requires that you make a single purchase within three months of opening the account to earn its bonus offer, and doesn’t have a spending target you have to hit, it’s a great choice for students who spend very little while in college.
Cardholders also earn 1% cash back on all purchases plus $20 good standing rewards after each account anniversary for up to 5 years.
The interest rate on the Chase Freedom® Student credit card is also lower than you might find on some other student cards. However, foreign transaction fees of 3% of each transaction in U.S. dollars will apply to overseas purchases, so this may not be the card for you if you’re a frequent international traveler.
Rewards rate: 1.5 points per $1 spent on all purchases
Annual fee: $0
Why we picked this card: The Bank of America® Travel Rewards Credit Card for Students offers a simple rewards structure, valuable sign-up bonus, long intro APR, $0 annual fee and a None foreign transaction fee.
| Pros | Cons |
|---|---|
Build credit for the future Flat cash back rewards Generous sign-up bonus applies Intro APR offer | High variable APR after intro period ends Intro APR offer does not apply to balance transfers made after the first 60 days |
It’s never too early to build credit, and starting during college is a great way to establish a good credit score. The Bank of America® Travel Rewards Credit Card for Students is a $0 annual fee student card that can help you build credit and earn rewards on every purchase. And since the foreign transaction fee is None, this card is a good one to take if you’re planning to study abroad at some point in your educational journey.
For students who want a travel card with decent flat-rate rewards, the Bank of America® Travel Rewards Credit Card for Students is a good choice in that realm, too. Cardholders earn 1.5 points per $1 spent on all purchases.
The card offers 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. This can be redeemed for a $250 statement credit toward travel and dining purchases, and is a great value for a student card.
As an added bonus, new customers get a 0% Intro APR for 18 billing cycles for purchases on purchases. After that, a regular APR of 17.74% - 27.74% Variable APR applies. There’s also a 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days, then a 17.74% - 27.74% Variable APR on balance transfers APR applies. This makes the card an even better deal for students who may need to carry a balance from time to time or who need to transfer high-interest balance from a different credit card.
Rewards rate: 1.5 points per $1 spent on all purchases
Annual fee: $0
Why we picked this card: The Bank of America® Travel Rewards Credit Card for Students offers a simple rewards structure, valuable sign-up bonus, long intro APR, $0 annual fee and a None foreign transaction fee.
| Pros | Cons |
|---|---|
Build credit for the future Flat cash back rewards Generous sign-up bonus applies Intro APR offer | High variable APR after intro period ends Intro APR offer does not apply to balance transfers made after the first 60 days |
It’s never too early to build credit, and starting during college is a great way to establish a good credit score. The Bank of America® Travel Rewards Credit Card for Students is a $0 annual fee student card that can help you build credit and earn rewards on every purchase. And since the foreign transaction fee is None, this card is a good one to take if you’re planning to study abroad at some point in your educational journey.
For students who want a travel card with decent flat-rate rewards, the Bank of America® Travel Rewards Credit Card for Students is a good choice in that realm, too. Cardholders earn 1.5 points per $1 spent on all purchases.
The card offers 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases. This can be redeemed for a $250 statement credit toward travel and dining purchases, and is a great value for a student card.
As an added bonus, new customers get a 0% Intro APR for 18 billing cycles for purchases on purchases. After that, a regular APR of 17.74% - 27.74% Variable APR applies. There’s also a 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days, then a 17.74% - 27.74% Variable APR on balance transfers APR applies. This makes the card an even better deal for students who may need to carry a balance from time to time or who need to transfer high-interest balance from a different credit card.
Rewards rate: Earn 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases.
Annual fee: $0
Why we picked this card: The Capital One SavorOne Student Cash Rewards Credit Card made our pick as the top option for dining, entertainment and groceries due to the generous rewards offered on these purchases.
| Pros | Cons |
|---|---|
Earn cash back in several popular spending categories Generous bonus offer $0 annual fee | Available for applicants with fair/limited credit High variable APR applies |
The Capital One SavorOne Student Cash Rewards Credit Card is ideal for students with fair credit who want to maximize rewards on certain types of spending. Cardholders earn 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases. Plus, new customers earn $100 when you spend $100 in the first three months.
This card is also a good option for students who are trying to keep fees at a minimum, since it comes with a $0 annual fee. As for foreign transaction fees, there are none.
Rewards rate: Earn 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases.
Annual fee: $0
Why we picked this card: The Capital One SavorOne Student Cash Rewards Credit Card made our pick as the top option for dining, entertainment and groceries due to the generous rewards offered on these purchases.
| Pros | Cons |
|---|---|
Earn cash back in several popular spending categories Generous bonus offer $0 annual fee | Available for applicants with fair/limited credit High variable APR applies |
The Capital One SavorOne Student Cash Rewards Credit Card is ideal for students with fair credit who want to maximize rewards on certain types of spending. Cardholders earn 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases. Plus, new customers earn $100 when you spend $100 in the first three months.
This card is also a good option for students who are trying to keep fees at a minimum, since it comes with a $0 annual fee. As for foreign transaction fees, there are none.
| Credit Card | Welcome Offer | Rewards Rate | Annual Fee | Intro Purchase APR | Regular APR | Intro Balance Transfer Rate | Regular Balance Transfer Rate | Foreign Exchange Fee | Recommended Credit | Card Review |
|---|---|---|---|---|---|---|---|---|---|---|
|
Discover it® Student Cash Back
|
Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. | 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. | $0 | 0% Intro APR for 6 months on purchases | 16.74% - 25.74% Variable APR | 10.99% Intro APR for 6 months | 16.74% - 25.74% Variable APR | N/A | Fair/Limited | Discover it® Student Cash Back Review |
|
Bank of America® Customized Cash Rewards Credit Card for Students
|
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening | 3% cashback in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases | $0 | 0% Intro APR for 18 billing cycles for purchases | 17.74% - 27.74% Variable APR on purchases | 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days | 17.74% - 27.74% Variable APR on balance transfers | N/A | Excellent/Good | Bank of America® Customized Cash Rewards Credit Card for Students Review |
|
Capital One Quicksilver Student Cash Rewards Credit Card
|
Earn $100 when you spend $100 in the first three months | 1.5% Cash Back on every purchase, every day; 5% Cash Back on hotels and rental cars booked through Capital One Travel (terms apply) | $0 | N/A | 17.99% - 27.99% (Variable) | N/A | 17.99% - 27.99% (Variable) | N/A | Fair/Limited | Capital One Quicksilver Student Cash Rewards Credit Card Review |
|
Deserve® EDU Mastercard for Students
|
Up to $59 in statement credits for Amazon Prime Student when you spend $500 within the first three statements | 1% unlimited cash back on ALL purchases | $0 | N/A | 22.49% variable | N/A | N/A (Balance Transfers are not available) | N/A | Excellent/Good/Limited | Deserve® EDU Mastercard for Students Review |
|
Chase Freedom® Student credit card
|
$50 Bonus after first purchase made within the first 3 months from account opening | Earn 1% cash back on all purchases plus $20 Good Standing Rewards after each account anniversary for up to 5 years | $0 | N/A | 18.74% Variable | N/A | 18.74% Variable | N/A | Excellent/Good | Chase Freedom® Student credit card Review |
|
Bank of America® Travel Rewards Credit Card for Students
|
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases | 1.5 points per $1 spent on all purchases | $0 | 0% Intro APR for 18 billing cycles for purchases | 17.74% - 27.74% Variable APR | 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days | 17.74% - 27.74% Variable APR on balance transfers | N/A | Excellent/Good | Review Coming Soon |
|
Capital One SavorOne Student Cash Rewards Credit Card
|
Earn $100 when you spend $100 in the first three months | 3% Cash Back on dining and entertainment; 3% Cash Back on popular streaming services; 3% Cash Back at grocery stores; 1% Cash Back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases | $0 | N/A | 17.99% - 27.99% (Variable) | N/A | 17.99% - 27.99% (Variable) | N/A | Fair/Limited | Capital One SavorOne Student Cash Rewards Credit Card Review |
A student credit card is a type of credit card geared specifically toward college students with limited credit history or no credit history at all. However, requirements for student credit cards do vary by issuer. For example, some cards for students let you apply and get approved with no credit score, whereas others require a credit history and a credit score in the “fair” range.
Many student credit cards also require you to prove you’re enrolled in an institution of higher education, or at least that you plan to enroll. According to Capital One, for example, students count as “anyone currently enrolled, or admitted and planning to enroll in the next three months, at an accredited university, community college or other higher education institution.”
As you compare the best credit cards for students, you’ll also notice that they can come in a variety of forms. Not only will you find cash back credit cards for students, but you’ll find travel credit cards designed for students, as well as cards that have intro APR offers for purchases, balance transfers or both.
The best credit cards for college students have several elements in common, including the following:
As you look for the right student credit card for your needs, you will want to think over the perks and features you want the most as well as the type of rewards you want to earn. If you want to earn cash back with an intro APR offer for purchases, for example, the Discover it® Student Cash Back or the Bank of America® Customized Cash Rewards Credit Card for Students may suit your needs best. If you want rewards you can redeem specifically for travel, on the other hand, you should take a close look at the Bank of America® Travel Rewards Credit Card for Students.
Using a student credit card to build credit isn’t rocket science, but you’ll want to make sure you avoid the common pitfalls people new to credit typically run into. The following steps can help you build credit as you maximize rewards and benefits with your student credit card.
When it comes to factors that make up your credit score, your payment history has the biggest impact. In terms of FICO credit scores, which are the type of score used by 90% of top lenders when making lending decisions, your payment history makes up 35%.
With this in mind, you’ll want to make sure all your bills are paid early or on time each month. Taking this important step can help you build credit in the most efficient way, and it can help you avoid dings on your score due to late payments.
When you’re first starting out with a student credit card, it can be tempting to spend money without worrying about how you’ll pay it back. However, it’s always best to start small with credit and only charge purchases you can afford to pay off right away.
This will help you build positive credit habits that you’ll need later in life. Of course, there may be situations that come up where you cannot afford to pay your balance in full. In that case, you should strive to pay off as much as you can, or the minimum payment you owe at the very least.
The second most important factor that makes up your FICO Score is the amounts you owe in relation to your credit limit, or your credit utilization rate. Generally speaking, it’s always best to keep your utilization below 30% of your available credit. So, for example, if you have a credit limit of $1,000, you should keep your balance under $300.
TIP: If you can get your credit utilization rate below 10% of your available credit and keep it there, that could be even better for your score.If a student credit card isn’t ideal for your situation for any reason, you should know that there are several alternatives to consider. The following options can help you build credit in lieu of a student credit card.
Secured credit cardIf you have poor credit or no credit, a secured credit card can help you turn your situation around. While secured credit cards require a security deposit to secure your line of credit, they report your credit movements to the three credit bureaus in order to help you boost your score.
Many secured credit cards also offer rewards for spending with no annual fee, and you can get your security deposit back when you close or upgrade your account in good standing.
Become an authorized userYou can also see about becoming an authorized user on another person’s credit card, such as a parent or other trusted family member. This step can help you piggyback off the good credit and responsible use of the primary cardholder.
Just remember, there are risks involved in becoming an authorized user, as well as for the primary account holder who is ultimately responsible for repayment.
Store credit cardsStore credit cards from retailers, like Lowe’s and Kohl’s, can also help you build credit, and they tend to be easier to qualify for than traditional credit cards. The downside of store cards is the fact you can only use them within a single store or brand of stores.
That said, some store cards (like the Amazon Prime Rewards Visa Signature Card) are offered by card networks like Visa and Mastercard, so you can use this kind of store card nearly anywhere. However, store cards that work on major credit card networks are also more difficult to qualify for.
Debit cardIf you just want a way to make purchases without using cash, you can also use a debit card that’s connected to your bank account. But keep in mind — debit card usage will not help build your credit credit score.
Legally, you must be 18 years old and have a source of income to be able to qualify for a credit card. For college students who meet these requirements, a credit card can be a useful tool to build credit — which will be important after graduation for renting an apartment, getting a car loan and even for some job applications.
Get a credit card and follow these best practices:
To make sure your credit is on the right track, it’s good to keep an eye on your credit score. There are a variety of ways to check your credit score for free.
If you aren’t ready for the responsibilities of having your own credit card, another way to build credit is to ask a family member to add you as an authorized user on one of their cards. However, make sure it’s a card with a good payment history and without a lot of debt.
Student cards are different from regular credit cards in that they are typically issued with lower credit limits and have easier approval odds than credit cards marketed to people with more extensive credit histories.
Since students generally have less experience managing credit products, card issuers tend to compensate for that risk by keeping credit limits low. Once you prove yourself more creditworthy over time — by paying on time every time and keeping your balance under control — you can ask your issuer to upgrade you to another card, request a credit limit increase on your existing card or apply for a new card altogether.
Student cards are unsecured cards geared toward applicants who are college students. Secured cards are available to any applicant, college student or otherwise and require you submit a security deposit to the credit card issuer, protecting them in case you don’t pay back what you charge to the card. Typically, the amount of your security deposit will become your credit limit.
Many student cards may indeed earn cash back or points. However, with a student card, it’s better to focus on building credit than earning rewards. You don’t want the temptation of rewards to encourage overspending and lead to debt.
While the credit cards with the best benefits and rewards typically require good or excellent credit history, there are cards for people with no credit.
Cards designed for college students, like the cards listed in this article, are a good place to start.
Many of the cards listed in this article are fine choices for your first credit card. For more options, see our list of best credit cards for beginners.
Be aware that no card offers a guaranteed approval. When you apply, the issuer will consider a variety of factors, including your income, how much debt you’re carrying and your credit score.
Credit scores for young adults tend to be low, and a short credit history means potential creditors and lenders don’t have much information on timely payments. LendingTree researchers looked at the anonymized credit reports of more than 250,000 cardholders between the ages of 18 and 22 and found that having an active credit card or being an authorized user on someone else’s credit card can make a substantial difference in their credit scores.
Depending on the issuer, you may be able to continue using your student credit card after you graduate — some issuers may even automatically upgrade you to the non-student version of your card. For example, Discover lets you keep many of the benefits from your student credit card after graduation; however, your card will be reclassified as a non-student card.
That said, you should consider looking at other credit cards once you have built up your credit score in the “good” range, or you have a FICO Score of 670 or higher. At that point, you have the potential to qualify for credit cards with better rewards and perks.
Check your credit score for free at LendingTree. You can do so without a hard inquiry on your credit report, and just by sharing information like your name, your address and the last four digits of your Social Security number.
Additionally, the Fair Credit Reporting Act (FCRA) requires each of the three major credit bureaus to provide individuals with a free credit report from each of the three credit bureaus through AnnualCreditReport.com (currently available weekly) — plus, you’ll receive one any time that a company takes adverse action against you, such as rejecting you for a credit card or loan.
Generally speaking, you cannot pay federal student loans with a credit card. However, it may be possible to make payments toward private student loans with a credit card if the company allows it.
Many student credit cards do let you get prequalified online, which can help you gauge your approval odds before you begin applying for a credit card. For example, one of our best credit cards for college students — the Capital One Quicksilver Student Rewards Cash Rewards Credit Card — lets applicants get prequalified before they apply.
To determine the best student credit cards, we considered rewards programs, sign-up bonuses, and accessibility for students with no credit or limited credit histories.
All of the cards on this list are aimed at college students and can help cardholders built credit history (assuming your account is tied to your Social Security number), and none charge an annual fee.
Finally, any useful features a card might have — such as cellphone protection — was factored in as well.
Additional reporting by Holly Johnson.
The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.
