Credit cards are a perfect financial management tool for people of all age groups. If you explore the options for student credit cards in the USA, you will know that there are myriad perks that these cards have to offer.
You can use it to build a strong credit history from a tender age, to be eligible for car, home or business loans at a later stage. Moreover, it can also come in handy during situations like sudden travel or medical emergencies.
However, finding the best student credit cards can be a bit challenging. There are countless options available, and you would have to dig a lot deeper to pick the one that complies with all your requirements.
In this article, we will discuss what student credit cards really are and how they can be beneficial for them. Furthermore, we will share the list of top credit cards in the USA that are best for students.
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What is Student Credit Cards?
Student credit cards are meant specifically for college or university students having limited financial resources. These cards offer unique features and perks, keeping in mind the needs and paying capability of a student.
Moreover, as a student comes with no financial history and limited earnings, the card approval process is way lenient, and there is generally no annual fee. Some of the features you will certainly find in student credit cards in the USA are:
- Lower credit limit to prevent surprising debt accumulation.
- Easy approval process with less documentation.
- Rewards in the form of travel points and cash back.
- There are no annual fees or purchase protections involved.
- Less penalties in case of delayed payments.
Apart from this, the best student credit cards in the USA may also make a parent or a guardian co-sign the document to ensure responsible usage.
Benefits of Choosing Student Credit Cards in the USA
Opting for a credit card in the USA as a student can benefit the cardholder in multiple ways. Some of the perks you can expect to enjoy are listed below.
- You can use the card to build a promising credit history and establish yourself as a responsible client. It can be helpful for your future financial endeavours when you want to get a loan or land a desired job role.
- Student credit cards come with features like lower credit limits and plenty of introductory offers. Thus, you do not have to worry about debt accumulation.
- There is no annual fee involved, and the penalties are negligible, so it keeps you safe from hidden charges or unexpected costs that might burn a hole in your pocket.
- Popular card-issuing bodies offer multiple educational tools, apps and other resources to help students learn about credit management. Thus, it can serve as an educational tool and is fruitful in developing responsible spending habits in students.
- Having a credit card is like having support against emergencies. It provides access to funds when needed, such as unexpected medical expenses or travel costs.
Eligibility to Opt for Student Credit Cards
There are numerous benefits of having a student credit card, but not everyone can get it. To be eligible to receive a student credit card, the applicant needs to meet certain eligibility criteria.
- It is essential for you to be enrolled in a college or a university. Your financial body will ask you for the enrolment proof.
- Applicants must be at least 18 years old. If you are less than 21 years old, you may be asked to have a co-signer.
- You should have a valid SSN (social security number) or ITIN (Individual Taxpayer Identification Number).
- Students should demonstrate the ability to repay the credit card debt through part-time or full-time employment.
Meeting these criteria increases the likelihood of being approved for a student credit card. It is significant to note that the criteria may change for different financial institutes, but the generic details remain the same.
Top 11 Student Credit Cards in the USA
Once you start exploring your options for the best credit cards for college students, you will be overwhelmed with the choices. Here are our recommended options to help you make a fair choice.
Discover it® Student Cash Back.
Discover it student credit card is an excellent choice for students looking for financial aid. The add-on benefit is that they can build an excellent credit score while using this credit card which will help them in the future. The rewards offered by this card are in the form of cashback that a student can redeem at once!
Key Features:
- There is 24×7 customer service available.
- You get alerts if your SSN is found on any risky website.
- The ability to instantly freeze your card through the mobile app.
Chase Freedom® Student Credit Card
Chase Freedom is one of the best credit cards for students that offers cashback on everyday purchases. It comes with no annual fee, so students do not have to bother about additional expenses. Moreover, you get the sign-up bonus, and access to credit score monitoring making it a valuable financial tool for college students.
Key Features:
- Use it to extend the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less.
- 24-hour hotline if you need help with services like towing, tyre changing, jump-starting, or lockout assistance.
Capital One® Journey® Student Rewards
Capital One student credit card is an ideal choice for students who wish to enjoy a financial backup under a restricted credit limit for responsible use. There are special rewards for on-time payments, encouraging students to repay on time. Thus, it can be a comprehensive account management tool for college students.
Key Features:
- You get reports to all three major credit bureaus, helping you build your credit history with responsible use.
- Free access to your credit score and credit monitoring through Capital One’s CreditWise tool.
Citi Rewards+® Student Card
Citi Rewards+ Student Card offers a robust rewards program, valuable benefits, and tools tailored to help students build credit responsibly while earning rewards on their purchases. Students can use this card to maximize rewards on everyday purchases, especially at supermarkets and gas stations.
Key Features:
- Free access to your FICO® score and credit monitoring through the Citi Mobile App.
- 2,500 ThankYou® Points after spending $500 in purchases within the first 3 months.
Bank of America® Cash Rewards for Students
Bank of America student credit card is an excellent card offering a straightforward reward structure with flexibility in earning cashback on everyday purchases. It’s an excellent choice for students who want to earn rewards while managing their expenses and building a credit history.
The sign-up bonus, no annual fee, and introductory APR offer make it a competitive option for student cardholders seeking financial flexibility and rewards.
Key Features:
- Access to your FICO® Score for free within Online Banking or your Mobile Banking app.
- You get to choose your own due date to fit your schedule.
Are you looking for a credit card for rewards this list is for you – Top 11 Rewards Credit Cards in the USA.
Deserve® EDU Mastercard for Students
Deserve EDU Mastercard credit card offers a straightforward cashback rewards program and numerous other perks designed to meet the requirements of international students.
Additionally, it offers Amazon Prime Student reimbursement and cellphone protection. There is no annual fee and an attractive option for students looking to establish their credit history.
Key Features:
- Mastercard Platinum Benefits, including travel assistance services and price protection.
- Receive a $59 Amazon Prime Student membership reimbursement after spending $500 in purchases within the first 3 billing cycles.
Discover it® Student Chrome
This student credit card is popular in the USA as it provides a straightforward cashback rewards program. It focuses on everyday spending categories, like gas and dining.
You can use it as a valuable financial tool for college students looking to earn rewards and manage their finances effectively.
Key Features:
- Discover will automatically match all the cashback you’ve earned at the end of your first year for new cardholders.
- It lets you access your FICO® Credit Score for free on monthly statements, mobile app, and online.
Petal® 2 “Cash Back, No Fees” Visa® Credit Card
It is ideal for college or university students looking to build credit responsibly while earning cashback rewards on everyday purchases. It offers a straightforward reward structure that improves over time with timely payments.
Key Features:
- Designed for individuals with limited credit history or no credit history.
- You get to choose your own monthly payment due date to align with your finances.
If you are planning to get credit cards for cashback you must check this list of 11 Best Cash Back Credit Cards in the USA.
State Farm® Student Visa® Credit Card
State Farm student credit card helps students earn rewards on their everyday purchases, like groceries and gas. Additionally, it provides valuable benefits for managing finances and building credit. The card focuses on insurance premium payments and is a practical way for students to earn rewards.
Key Features:
- Fraud protection with zero liability for unauthorized transactions.
- Protection from unauthorized charges if your card is lost or stolen.
Wells Fargo Cash Back College Card
This card option offers a straightforward rewards program and perks tailored to students’ needs. The emphasis is on cashback rewards in categories like gas, groceries, and drugstore purchases. Moreover, there is no annual fee involved, making it affordable for students.
Key Features:
- You get financial education resources and tools to help students learn about credit management.
- You get access to Wells Fargo Online® Banking to manage your account, track spending, and make payments.
OpenSky® Secured Visa® Credit Card
It is an excellent option to build credit responsibly. You get accessible credit-building opportunities with the ability to choose your own credit limit based on your deposit amount.
This card is particularly beneficial for students looking to establish credit or recover from past credit challenges.
Key Features:
- EMV chip technology for enhanced security when making purchases in-store or online.
- Accepted at millions of locations worldwide where Visa cards are accepted.
For better clarity, you can refer to the table below and compare the perks and fees involved in these card options.
Comparison of All the Student Credit Cards
Card Name | Rewards | Fee Involved | Highlight Feature |
Discover it® Student Cash Back | 5% cashback on rotating categories (up to the quarterly maximum) and 1% on all other purchases. | No Annual Fee | Cashback match for the first year. |
Chase Freedom® Student Credit Card | 1% cashback on all purchases. | No Annual Fee | $50 bonus after first purchase within the first 3 months. |
Capital One® Journey® Student Rewards | 1% cashback on all purchases, 1.25% if you pay on time. | No Annual Fe | Credit line increase opportunity after making 5 monthly payments on time |
Citi Rewards+® Student Card | 2x points at supermarkets and gas stations (up to $6,000 per year) and 1x points on all other purchases. | No Annual Fee | Automatically rounds up to the nearest 10 points on every purchase. |
Bank of America® Cash Rewards for Students | 3% cashback on a chosen category, 2% at grocery stores and wholesale clubs, and 1% on all other purchases. | No Annual Fee | $200 online cash rewards bonus after spending $1,000 in the first 90 days. |
Deserve® EDU Mastercard for Students | 1% cashback on all purchases. | No Annual Fee | Amazon Prime Student subscription reimbursement (up to $59). |
Discover it® Student Chrome | 2% cashback at gas stations and restaurants (up to $1,000 in combined purchases each quarter) and 1% on all other purchases. | No Annual Fee | Cashback match for the first year. |
Petal® 2 “Cash Back, No Fees” Visa® Credit Card | 1% cashback on all purchases, up to 1.5% after 12 on-time monthly payments. | No annual fee or foreign transaction fees. | No late fees or penalty APRs. |
State Farm® Student Visa® Credit Card | 3 points per $1 spent on insurance premium payments and 1 point per $1 on other purchases. | No Annual Fee | Access to financial literacy resources. |
Wells Fargo Cash Back College Card | 3% cashback on gas, grocery, and drugstore purchases for the first 6 months, and 1% on other purchases. | No Annual Fee | Access to free online credit education. |
OpenSky® Secured Visa® Credit Card | No credit check is required to apply. | Requires a refundable security deposit. | Helps build credit with responsible use. |
If you want to learn more about the different kinds of credit cards available? Check out our detailed guide on the Types of Credit Cards in the USA. Explore various options and find the perfect card that fits your financial needs and lifestyle.
In conclusion, these top-rated student credit cards in the USA are a powerful financial tool to learn financial management and responsible spending habits. There are countless card options available, each offering a unique benefit, ranging from cash-back rewards to zero annual fees.
The right way to make a choice is to explore the list of options mentioned above, digging deeper into their offerings. Pick the card that offers all the perks related to your daily expenses and enjoy excellent financial health.
Moreover, the best student credit cards will also help enhance financial literacy and establish a promising foundation for the coming years.
