Top Student Credit Cards: Maximize Your College Budget

Best Student Credit Cards

Getting a student credit card can be a smart move for your financial future. It helps build credit history, which is essential for loans, rentals, and even some jobs. But with so many options, picking the right card can be overwhelming. Let’s explore some of the top student credit cards available today.

Discover it® Student Cash Back

The Discover it® Student Cash Back card is an excellent choice for students. It offers 5% cash back on rotating categories each quarter. Past categories have included gas stations, grocery stores, and restaurants. You also earn 1% cash back on all other purchases.

One standout feature is the Good Grades Rewards program. Students with a GPA of 3.0 or higher can earn a $20 statement credit each school year for up to five years. This card has no annual fee and provides a free FICO® score monthly. It’s great for those who are diligent about maximizing rewards.

Chase Freedom® Student Credit Card

The Chase Freedom® Student Credit Card offers simplicity with solid benefits. You earn 1% cash back on all purchases. There’s also a $50 bonus after your first purchase made within the first three months.

One attraction is its credit line increase after making five monthly payments on time within ten months from account opening. A good feature for students aiming to build a higher credit limit responsibly. This card also has no annual fee and offers credit score access through the Chase Credit Journey program.

Bank of America® Unlimited Cash Rewards for Students

The Bank of America® Unlimited Cash Rewards for Students card offers 1.5% cash back on all purchases. It has no annual fee and provides a $200 cash rewards bonus after spending $1,000 within the first 90 days.

Students can benefit from a 0% introductory APR on purchases and balance transfers for the first 15 billing cycles. This can be particularly useful for managing large, one-off expenses or existing debt. Additionally, eligible for the Bank of America Preferred Rewards program, this can elevate your cash back earning potential when combined with a Bank of America savings account.

Citi Rewards+℠ Student Card

The Citi Rewards+℠ Student Card offers a unique points system where every purchase rounds up to the nearest ten points. It’s especially beneficial for small purchases. Earn double points at supermarkets and gas stations for the first $6,000 per year and 1 point per dollar on everything else.

A bonus is available: 2,500 points after spending $500 in the first three months. This card has no annual fee. Another feature is 10% points back for the first 100,000 points redeemed per year.

Deserve® EDU Mastercard for Students

The Deserve® EDU Mastercard offers an uncomplicated approach for international students, as no Social Security number or credit history is required for application. You earn 1% cash back on all purchases with no annual fee.

Benefits include a complimentary year of Amazon Prime Student and cellphone protection up to $600 when you pay your monthly bill with the card. This card also reports to all three major credit bureaus, helping build your credit profile.

Journey® Student Credit Card from Capital One®

The Journey® Student Credit Card from Capital One® offers a flat 1% cash back on all purchases. The standout feature is a 25% bonus on the cash back earned each month you pay on time, raising your effective rate to 1.25%.

There’s no annual fee or foreign transaction fees. After five on-time payments, you may be eligible for a higher credit line. With access to CreditWise, you can monitor your credit score and track progress.

Wells Fargo Cash Back College℠ Card

The Wells Fargo Cash Back College℠ card is another solid option. It provides 3% cash rewards on gas, groceries, and drugstore purchases for the first six months. After that, 1% cash rewards on all purchases.

New cardholders can earn a $20 statement credit after spending $1,000 in the first three months. This card also offers tools like online budgeting and spending analysis to help manage finances responsibly. There’s no annual fee, and cell phone protection is included when you pay your bill with the card.

State Farm® Student Visa® Credit Card

The State Farm® Student Visa® Credit Card offers straightforward features. You earn 3 State Farm loyalty rewards points on insurance premium payments and 1 point on other purchases.

This card has no annual fee and provides valuable tools like personalized financial education content. State Farm rewards points can be redeemed for products, travel, or as gift cards.

How to Choose the Right Card

Consider the following points when selecting a student credit card:

Rewards: Look at the types of rewards offered and if they align with your spending habits.
Fees: Ensure the card has no annual fees and be cautious of other potential fees, such as late payment fees.
Interest Rates: Lower APRs and introductory offers can save you money if you carry a balance.
Credit Reporting: Choose a card that reports to all three major credit bureaus to build your credit history effectively.
Additional Features: Perks like complimentary Amazon Prime Student, cellphone protection, or free access to your credit score can add value.

Each of these cards offers distinct advantages tailored to different spending habits and financial goals. Doing your research will help you make an informed decision that fits your needs.