9 Best Credit Cards for College Students

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.

MoneyLion can help you explore a wide variety of credit card options tailored to college students.

Key Takeaways

• A student credit card helps you build credit early, learn money management and cover emergencies while you're still in school. Starting now sets you up for easier loan approvals, better interest rates and smoother apartment rentals down the road.

• The best card depends on your spending habits. Look at cash back options like Discover it® Student Cash Back, travel picks like the Bank of America® Travel Rewards card or low-fee builders like the Petal® 1 if you're new to credit.

• Compare APR, annual fees, rewards and credit bureau reporting before you apply. Pick a card with no annual fee, pay your balance in full each month and keep your utilization low to grow your score fast.

Summary generated by AI, verified by MoneyLion editors

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.

Pros

• 5% cash back on rotating categories

• No annual fee

• First-year cash back match

Cons

• High regular APR

• Rotating categories require activation

• 0% introductory APR for purchases only lasts for six months

• No 0% APR period for balance transfers

2. Best for No Fees: Capital One Savor Rewards for Students

The Capital One Savor 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.

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.

Pros

• Travel rewards with no blackout dates

• No annual fee

• No foreign transaction fee

Cons

• Requires good credit for approval

• No rotating categories

4. Best for low fees: Petal® 1 Credit Card

The Petal® 1 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.

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.

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.

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.

Pros

• Higher cash back at gas stations and restaurants

• No annual fee

• First-year cash back match

Cons

• High regular APR

• Limited high cash back 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 $250 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.

Pros

• Rewards on all purchases

• Generous intro bonus

• No annual fee

Cons

• 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.

Pros

• Customizable cash back 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 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.

FAQs 

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.

Key Terms

• Annual percentage rate (APR): The yearly cost of borrowing on a credit card, including interest and certain fees, shown as a percentage.

• Credit score: A number that estimates how likely you are to repay debt on time based on your credit history.

• Credit utilization: The share of your available revolving credit you’re using. Lower utilization can help support your credit score.

• Balance transfer: Moving debt from one credit card to another, often to save money with a lower introductory APR.

• Credit report: A record of your borrowing and payment history that lenders may review when deciding whether to approve you for credit.

Sources:

• Consumer Financial Protection Bureau: What is a credit card interest rate? What does APR mean?

• Consumer Financial Protection Bureau: What is a credit score?

• TransUnion: What Is Credit Utilization Ratio?

• Consumer Financial Protection Bureau: What is a balance transfer?

• Consumer Financial Protection Bureau: What is a credit report?

Summary generated by AI, verified by MoneyLion editors