Navigating the world of credit cards can be as tricky as finding a parking spot on campus. But fear not; we’re here to break it down for you. Whether you’re looking to build credit, earn rewards, or simply manage your expenses, we’ve got the lowdown on some of the best credit cards for college students. Stick around, and swipe right on the perfect card.
MoneyLion can help you explore a wide variety of credit card options tailored to college students.
9 Best Credit Cards For College Students
Here’s the cream of the crop when it comes to some of the best credit cards for college students.
1. Best for cash back: Discover it® Student Cash Back
The Discover it® Student Cash Back is a top pick for those who love earning rewards on everyday purchases. It offers 5% cash back on rotating categories each quarter and 1% on all other purchases.
| Credit score needed: Fair to good (580-740) | Purchases intro APR:0% for six months |
| Intro bonus:Unlimited Cashback Match – Discover matches all the cash back earned at the end of your first year | Cash advance fee:$10 or 5%, whichever is greater |
| Annual fee:$0 | Balance transfer fee:3% |
| Regular APR:18.24% – 27.24% variable | Foreign transaction fee:None |
Pros
- 5% cash back on rotating categories
- No annual fee
- First-year Cashback Match
Cons
- High regular APR
- Rotating categories require activation
- Limited to U.S. usage
2. Best for no fees: Capital One SavorOne Rewards for Students
The Capital One SavorOne Rewards for Students card is perfect if you’re looking to earn rewards on dining and entertainment without worrying about fees. It offers unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores (excluding superstores like Walmart® and Target®). Plus, it has no annual fee and no foreign transaction fees.
| Credit score needed: Good to Excellent (670-850) | Purchases intro APR:0% for 15 months |
| Intro bonus:$200 after spending $500 in the first three months | Cash advance fee:$10 or 3%, whichever is greater |
| Annual fee:$0 | Balance transfer fee:$0 |
| Regular APR:19.99% – 29.99% variable | Foreign transaction fee:0% |
Pros
- 3% cash back on dining and entertainment
- No annual or foreign transaction fees
- Intro APR on purchases
Cons
- Requires good to excellent credit
- No 0% intro APR on balance transfers
- Higher regular APR
3. Best for travel rewards: Bank of America® Travel Rewards Credit Card for Students
If you dream of studying abroad or love to travel, the Bank of America® Travel Rewards Credit Card for Students is for you. Earn 1.5 points for every dollar spent on all purchases.
| Credit score needed: Good to Excellent (700+) | Intro balance transfer APR:0% Introductory for 15 months |
| Intro bonus:25,000 online bonus points and a $250 travel or dining statement credit value after making at least $1,000 in purchases in the first 90 days | Balance transfer fee:Introductory Fee of 3% of the amount of each transaction, 4% after that |
| Annual fee:None | Cash advance fee:4% |
| Regular APR:19.24% – 29.24% variable | Foreign transaction fee:None |
Pros
- Travel rewards with no blackout dates
- No annual fee
- No foreign transaction fee
Cons
- High regular APR
- Requires good credit for approval
- No rotating categories
4. Best for low fees: Petal® 1 “No Annual Fee” Visa® Credit Card
The Petal® 1 “No Annual Fee” Visa® Credit Card is perfect to avoid high fees while building credit. This card offers 1% cash back on all purchases, which can increase to 1.5% after making 12 on-time monthly payments. Plus, there are no annual, late, or foreign transaction fees, making it an excellent choice for budget-conscious students.
| Credit score needed: Fair (580-740) | Purchases intro APR:N/A |
| Intro bonus:None | Cash advance fee:N/A |
| Annual fee:$0 | Balance transfer fee:N/A |
| Regular APR:25.24% – 34.74% variable | Foreign transaction fee:None |
Pros
- No annual, late, or foreign transaction fees
- Cash back rewards that increase with on-time payments
- No credit history required for approval
Cons
- No intro APR
- Limited rewards rate
- Higher APR for lower credit scores
5. Best for no annual fee: Wells Fargo Active Cash℠ Card
The Wells Fargo Active Cash℠ Card is perfect for students who want to maximize their cash back without worrying about annual fees. This card offers an unlimited 2% cash back on all purchases, making it a straightforward and lucrative option for college students. Additionally, there’s a generous intro APR period and a sign-up bonus for new cardholders.
| Credit score needed: Excellent (700-850) | Purchases intro APR:0% for 15 months |
| Intro bonus:$200 after spending $500 in the first three months, plus unlimited 2% cash rewards on purchases | Cash advance fee:$10 or 5%, whichever is greater |
| Annual fee:$0 | Balance transfer fee:$5 or 3%, whichever is greater |
| Regular APR:20.24%, 25.24% or 29.99% | Foreign transaction fee:3% |
Pros
- Unlimited 2% cash back on all purchases
- No annual fee
- Generous intro APR period
Cons
- Foreign transaction fee
- Higher regular APR for lower credit scores
- Limited rewards categories
6. Best for first-time cardholders: Capital One Platinum Secured Credit Card
The Capital One Platinum Secured Credit Card is ideal for first-time cardholders just starting to build their credit. It has no annual fee and provides access to a higher credit line after making the first five monthly payments on time.
| Credit score needed: 300-629 | Purchases intro APR:29.99% variable APR |
| Intro bonus:N/A | Cash advance fee:Either $5 or 5% of the amount of each cash advance, whichever is greater |
| Annual fee:$0 | Balance transfer fee:N/A |
| Regular APR:29.99% variable APR | Foreign transaction fee:3% |
Pros
- No annual fee
- Easy approval for beginners
- Higher credit line access after on-time payments
Cons
- High regular APR
- No rewards program
- No intro APR
7. Best for rewards: Discover it® Student chrome
The Discover it® Student Chrome offers 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and 1% on all other purchases.
| Credit score needed: Fair to good (580-740) | Purchases intro APR:0% for six months |
| Intro bonus:Unlimited Cashback Match | Cash advance fee:Either $10 or 5% of the amount of each cash advance, whichever is greater. |
| Annual fee:$0 | Balance transfer fee:3% of the amount of each transfer for |
| Regular APR:8.24% – 27.24% variable | Foreign transaction fee:None |
Pros
- Higher cash back at gas stations and restaurants
- No annual fee
- First-year Cashback Match
Cons
- High regular APR
- Limited high cashback categories
- Requires good credit
8. Best intro APR: Chase Freedom Unlimited®
The Chase Freedom Unlimited® card is a fantastic choice for college students who want to earn rewards on every purchase. It offers a solid 1.5% cash back on everything, helping students maximize their spending power. The generous intro APR of 0% for 15 months on purchases and balance transfers makes it easier to manage expenses without interest piling up.
Plus, the $200 bonus after spending $500 in the first three months is a great way to kick-start your credit journey with extra cash in your pocket.
| Credit score needed: 690-850 | Purchases intro APR:0% for 15 months |
| Intro bonus:Earn an additional 1.5% cash back | Cash advance fee:$10 or 5%, whichever is greater |
| Annual fee:$0 | Balance transfer fee:$5 or 3%, whichever is greater |
| Regular APR:20.49% – 29.24% variable | Foreign transaction fee:3% |
Pros
- Rewards on all purchases
- Generous intro bonus
- No annual fee
Cons
- Balance transfer fee
- Foreign transaction fee
- High cash advance fee
9. Best for flexible rewards: Bank of America® Customized Cash Rewards credit card for Students
The Bank of America® Customized Cash Rewards credit card for Students offers 3% cash back in a category of your choice, 2% at grocery stores and wholesale clubs, and 1% on all other purchases.
| Credit score needed: Good to excellent (670-850) | Purchases intro APR:0% for 15 billing cycles |
| Intro bonus:$200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days | Cash advance fee:$10 or 3%, whichever is greater |
| Annual fee:$0 | Balance transfer fee:3% of each transaction intro balance transfer fee for the first 60 days your account is open |
| Regular APR:19.24% – 29.24% variable | Foreign transaction fee:3% |
Pros
- Customizable cashback categories
- No annual fee
- Generous intro bonus
Cons
- Foreign transaction fee
- High regular APR
- Requires good credit
Why should college students have credit cards?
Having a credit card in college can be a game-changer. Here’s why:
- Build credit early: Building credit history is crucial for future financial milestones like renting an apartment, getting a car loan, or even securing a mortgage. The earlier you start, the more time you’ll have to build credit, which can work towards supporting your credit score.
- Learn financial responsibility: Managing a credit card responsibly teaches valuable money management skills that will benefit you for life.
- Emergency funds: Credit cards can be lifesavers in emergencies, providing a financial cushion when needed.
Why should you start building credit even as a student?
Starting to build credit while you’re still in school can set you up for financial success. Here’s why:
- Easier loan approvals: With a solid credit history, you’ll find it may be easier to get approved for personal loans, car loans, and mortgages. Lenders like to see that you’ve managed credit responsibly over time.
- Better interest rates: A higher credit score means you’re seen as a lower risk to lenders. This can translate into lower interest rates on loans and credit cards, saving you a lot of money over the long haul.
- Renting apartments: Some landlords will check credit scores to gauge the reliability of potential tenants. A good credit score can make renting an apartment smoother and less stressful.
How to compare student credit cards
Choosing the right student credit card involves looking at several key factors.
- Eligibility requirements: Some cards are easier to get than others, especially if you have no credit history. Look for cards designed specifically for students.
- Annual percentage rate (APR): The APR is the interest rate you’ll pay if you carry a balance. Lower is better, especially if you plan to carry a balance from month to month.
- Annual fees: Some cards have annual fees, which can eat into your budget. However, many student cards have no annual fee, making them a cost-effective choice.
- Rewards programs and cash-back offers: Many student credit cards offer rewards like cash back or points for spending. Consider how these rewards fit with your spending habits.
- Sign-up bonuses: Some cards offer bonuses for spending a certain amount in the first few months. These can be a great way to get extra value from your card.
- Credit limit: A higher credit limit gives you more spending power and the potential for more debt. Balance your need for a high limit with your ability to manage it responsibly.
- Reporting to credit bureaus: Ensure the card issuer reports to all three major credit bureaus (Experian, TransUnion, Equifax). This reporting is crucial for building your credit history.
Swiping your way to financial success
Getting a credit card as a college student is a smart move for building credit and learning financial responsibility. Whether you’re looking for cash back, travel rewards, or no fees, there’s a student credit card out there. Choose wisely and use it responsibly to help boost your credit score.
FAQ
Should college students have credit cards?
Absolutely! Credit cards can help students build credit, manage emergencies, and learn financial responsibility.
How many credit cards should a college student have?
One or two credit cards are usually enough. The key is to manage them responsibly and avoid accumulating debt.
What credit score do I need to qualify for a student credit card?
Many student credit cards are designed for those with little to no credit history, so a score of 580 or higher can often get you approved.
What are some responsible credit card habits for college students?
Always pay your balance on time, keep your credit utilization low, and avoid unnecessary debt to maintain a healthy credit score.
Can international students get credit cards in the U.S.?
Some issuers offer international students credit cards, often requiring a US-based co-signer or a security deposit.
