A student credit card is an invaluable first step towards achieving a solid credit history as you pay for textbooks or emergency expenses.
Worrying about your credit might be the last thing on your mind while studying late at night, but you’ll be happy you established it once you graduate, especially when you are applying for important milestones like car loans and apartments. While you may not currently have much credit history, building it now can improve your odds for approval of larger ticket items in the future.
Here’s our list of the best credit cards for college students in 2024.
Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% back on all other purchases. Earn 8% cash back on Capital One Entertainment purchases. Earn 5% back on hotels and rental cars booked through Capital One Travel.
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It’s difficult to do better than this card as a student, with high reward rates in very useful categories, no annual fee, and the ability to qualify with fair credit.
Earn unlimited 1.5% cash back on all purchases and 5% back on hotels and rental cars booked through the Capital One Travel platform.
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For students with few options, the flat-rate, no-fuss rewards of this card could make for an appealing first card.
Earn 1% cash back on all purchases and 5% cash back on everyday purchases at different places each quarter, up to the quarterly maximum when you activate.
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Earn 2% cashback rewards on dining and gas purchases on up to $1,000 per quarter and 1% on all other purchases.
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Earn 1.5% cash back on all purchases and 5% back on hotels and rental cars booked through the Capital One Travel platform.
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Especially for a secured card, this card offers a decent cash-back rate, so you can earn rewards while building your credit.
Enjoy 6.5% cash back on travel purchased through Chase Travel℠, 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% cash back on all other purchases.
Earn 3% cash back on up to $6,000/year spent at U.S. supermarkets (then 1%), 3% cash back on up to $6,000/year at U.S. gas stations (then 1%), 3% cash back on up to $6,000/year on U.S. online retail purchases (then 1%), and 1% cash back on all other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
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Students with limited credit won’t qualify for this card, but it could make a great second card after they’ve established a good score.
Our top selections are credit cards with no annual fees, which can save students quite a bit of money. Student budgets are notoriously tight, so saving yourself annual fee payments can make a big difference when you are starting out.
Student-specific credit cards are designed to help students build credit, especially when they have no credit history.
These credit cards for college students provide the same benefits as standard credit cards, but they often have fewer incentives and lower credit limits. Some require no credit history, while others require you to have at least a fair credit score.
▶︎ See our picks: Best credit cards for fair credit
Not all student credit cards expect you to be a student, but there are eligibility requirements that you will have to meet, including age. For example, you must be 18 years old to apply for a student credit card in your own name. If you do not have your own income, you must apply with a cosigner over the age of 21.
You might be considering a student credit card because you’re interested in benefits like cash-back rewards and travel rewards points, or are simply looking ahead.
There are many cautionary tales about students who fall behind on their minimum payments, rack up late fees or any other kind of fee, and dig themselves into a financial hole. However, when used correctly, a student credit card can help you establish a line of credit that can help you after graduation.
When shopping for the best first credit card for students, one of the things you should look for is a plan that doesn’t saddle you with hefty fees like foreign transaction fees, balance transfer fees, annual fees, etc.
Plus, you want to look for creditors that are more forgiving, especially if you miss a payment. Finally, you want your money to work for you. For example, if you already spend money on gas and food, why not find gas credit cards that give you money back?
Less-than-stellar credit card issuers can easily tempt unknowing students into taking a perilous financial plunge into deep debt, which is why students must understand things like credit scoring, card ratings, regular APR, billing cycles, interest rates, and more.
Choosing the right student credit card for you depends on what is most important to you, including:
College can be a transformative experience that allows you to think about your future and work towards your goals. For many young adults, excellent credit and rewards are often among them. Young adult credit cards are a great way to begin working towards your financial goals.
Applying for a student card can help you learn about good spending habits and how to build credit. The more responsible you are, the likelier you will be to qualify for better loans and other cards.
Students must understand how credit cards work and what responsible card use means.
Below are some tips that students can follow to help them avoid this debt spiral and build their credit responsibly:
Your credit history depends on your payment history. Missing even one payment can set you back, so it’s important that you can afford monthly payments and aren’t overwhelmed. Paying your bill on time is a priority in building credit. If you tend to be forgetful, you can set up automatic payments to avoid missing due dates.
Buying something expensive now and paying it off in time can be deceptive, especially when you want to go on a trip with friends or buy a new wardrobe. However, not paying an item off immediately means you’ll face high interest rates. It is important to note that debt can roll over quickly and can be very hard to dig yourself out of.
Even if you use your card responsibly, being too close to your credit limit can also impact your credit score. It’s best to keep your available credit below 30%.
It can be tempting to apply for multiple credit cards, but this can be detrimental to the credit you are trying to build. Besides, it can be easy to lose track of payment dates and credit limits, so it’s better to have one or just a few, especially if you’re new to credit.
Some credit cards carry annual fees and other fees for things such as foreign transactions, but it might be better to stay away from these when you’re first starting out to avoid additional spending.
Applying for a student credit card is not complicated.
You typically need to provide some personal information, along with proof that you are currently enrolled in college and have income. Some credit cards are also available to non-students who meet credit requirements.
Here is what you need to know:
One of the most important steps is making sure a credit card is the best one for your situation and that you meet the minimum requirements.
This gives you the best odds of being approved. Once you are satisfied with your selection, all you need to do is apply directly on their website.
They will ask for personal information like:
Approval could either be immediate or in a few days by mail.
A co-signer tells your credit card issuer they will pay the bill if you cannot.
This allows students or those with poor credit to open a credit card account backed by the co-signers credit history and income. However, not every credit card offers this option, so it’s good to shop around.
Getting denied after applying for a student card could mean that you don’t have sufficient credit. However, you can ask the card issuer for an adverse action letter to go over the reasons you were denied.
A good step is to look at your credit report to see if there are any long-standing bills or accounts you didn’t open. Don’t apply for multiple cards, especially if you don’t meet their requirements. Remember, hard credit inquiries can bring your credit score down.
Student cards are useful for building your credit while you’re starting in life but don’t just dive headfirst into them without looking at your circumstances. They are only a good option if you can be fiscally responsible and pay your debts off in time. Otherwise, you could set yourself up for a very shaky start.
▶︎ See: Best credit cards for beginners
A college student credit card can be a great way to build your credit, but what do you do with it after graduating?
Secured credit cards can be good for non-students or those who do not have a source of income. You must provide a security deposit, usually around $200 minimum, which is essentially your credit limit.
Students with high-interest debt can transfer their balance to a balance transfer credit card with 0% APR.
Charge cards work like credit cards in the sense that they can help build your credit. Unlike credit cards, however, you’re not allowed to carry a balance on a charge card, you’re required to pay your credit card bill in full each month.
On the other hand, debit cards draw money from your bank account to cover a purchase. They don’t help you build credit, but they can offer a convenient way for students to pay for their purchases. Debit cards don’t require a credit history to qualify, only a bank account.
If you’ve already established a good credit history and maintain a source of income, you may be able to qualify for a rewards credit card, travel credit card, or cash-back card.
Your main goal with a student credit card is to build credit. It’s easy to get distracted by incentives and cash rewards, but they shouldn’t be your only deciding factor. We selected the best credit cards of 2024 for students based on several factors including rewards, APR, ease of use, and additional fees, among other things.
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For rates and fees of the Blue Cash Everyday® Card from American Express, please visit this page.
When you get to the point in your life where you’re financially ready to apply for your first car or mortgage, bringing a good credit score to the table increases your chances of getting good terms and a competitive interest rate.
That’s why it’s to your benefit that you start building credit while in college.
A student credit card can help you build credit if you use it sparingly and take care to pay off the balance each month.
Legally, you must be 18 years old to open up your own credit card. However, some credit card issuers allow younger users to start building their credit history as early as 12. As a parent, you can call your credit card company to check if there’s an age minimum for authorized users. There are many pros and cons to adding your child to your account, especially in emergency situations.
If you are 18-20 years old, you may need an authorized co-signer like your parents to help you apply for your first credit card or proof of income. If you are over 21 years old, you can apply for a credit card at any time.
Traditionally, when you apply for a credit card you must also show proof of income. However, college students can qualify for a student credit card without a job by having an authorized adult cosign.
In fact, the Credit CARD Act of 2009 requires that students must be able to show that they can adequately pay off their credit card statements by having some sort of income. Accordingly, many student cards have lax income requirements when compared to other credit cards.
While there is no regulatory minimum income requirement, it must be enough to repay your credit cards every month. This could mean any income remaining after you have paid rent and bills. That being said, even if you only make a few thousand annually, if your bills and financial obligations are low enough and your monthly income can easily cover them, you could easily qualify for a student credit card.
Please note that income could mean sources other than a regular job, like student loans, grants, scholarships, etc.
You probably think that you have to give up the benefits that come with your student card once you graduate—not necessarily.
Some cards, Like Discover, allow you to stay in the Cashback Bonus® program while reclassifying you as no longer being a student. Students with the Discover it® Student Cash Back credit card, for example, can still get 5% cash back up to the quarterly maximum on daily purchases each quarter, including grocery stores, amazon.com, DoorDash, gas stations, restaurants, or when you use PayPal.
If you carry the Discover it® Student Chrome card, you can still continue to get 2% cash back at restaurants and gas stations up to $1,000 each quarter along with 1% cash back on all other purchases. Graduating does not automatically kill your benefits necessarily, depending on your credit card provider. It is not recommended that you cancel your card after graduating: it could have a negative impact on your credit score—the exact opposite of what you’ve been trying to improve!
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