If you’re a college student, you probably don’t care about building a good credit history. Yet, when it comes to financial choices like applying for a mortgage, purchasing a car, or renting a property, your credit score is crucial. Some firms will even run a credit report on you before hiring you. While it may appear difficult to establish credit from the ground up, there are credit cards specifically tailored for learners and first-time buyers. Automobiles require maintenance. Pcs are in need of repair. Smartphones are frequently dropped. Life is unpredictable. It’s comforting to know that if you have a credit card, you may use it to cover unexpected bills.
Students can use their credit cards to cover unprecedented medical or dental costs, as well as to rent a car. This benefit may provide you — and your parents — a sense of security. Of course, you’re still accountable for the credit card bill resulting from these purchases, so only use your credit card for serious emergencies. A credit inspection is performed for many rental requests so that landlords can analyze the individual’s credit history. Again, using a student credit card with a good payback history will help you create a credit record and establish yourself as a respectable young adult and possible good renter, which can help you boost your tenancy agreement. When you’re ready to purchase a house, having a good credit history will help you receive a loan. We have put together the top 10 best first credit cards for students.
1. Discover it® Student Cash Back
Even though you don’t want to charge your spending to a credit card, it’s a good idea to maintain one available in case of unforeseen needs. We choose the Discover it® Student Cash Back* for this objective. The promotional 0% APR on transactions for the first six months following account activation (12.99 percent to 21.99 percent changeable APR after that) could give you some peace of mind that unexpected spending can be transferred over for this amount of time without incurring interest. And if you do require it for some unforeseen needs, you’ll get money back on your transactions as well as the excellent benefit of Unlimited Cashback Match. Discover will double your cash-back collected dollar for dollar at the conclusion of your first year as a cardholder, with no limits.
2. Discover it® Student Chrome
If you travel to and from school, the Discover it® Student chrome* gives the best money-back rates on gas and dining of any college credit card. Up to $1,000 in a total gas station and restaurant expenditures per quarter earns you 2% cashback, with the rest of your transactions earning you 1%. Not to add that Discover’s sign-on offer includes an unlimited cash-back equivalent in the first year, which will be paid to your bank after your one-year milestone. Many credit cards allow you to earn rewards based on a percentage of your expenditures, and some credit cards give miles or points, while some people prefer cashback. With Discover, you may exchange points for cash in any quantity, at any time*, apply them as a bill credit, deposit them into your bank account, and more.
3. Capital One SavorOne Student Cash Rewards Credit Card
If you’re a student in a city with plenty to do, the Capital One SavorOne Student Cash Rewards Credit Card* is a wonderful option. This card gives unrestricted 3% cashback on food, amusement, and major online streaming, as well as 1% cashback on all other transactions, which is comparable with their non-student restaurant and dining credit cards.
Tickets bought at movie theatres, sports marketers (professional and semi-professional live events), stage promoters, theme parks, tourist destinations, aquariums, circuses, dance clubs, record shops, pool halls, or bowling alleys fall under the category of leisure. This credit card is a hot choice for a number of students who decide on getting their first credit card. You will also be able to save a lot of money with the Capital one Savor One Student Cash Rewards Credit Card.
4. Capital One Quicksilver Student Cash Rewards Credit Card
Though Discover student cards may win this one during the first year because of their cash-back match sign-on bonus, the Capital One Quicksilver Student Cash Rewards Credit Card* beats them for a fixed amount for the remainder of your schooling years. Capital One provides a flat rate of 1.5 percent cash back on all purchases made with this card. This makes it straightforward because you don’t have to worry about which areas you’re spending all your money on. You can also check if you’re prequalified before you register if you want to keep things simple. This card may be a possibility for you if you attend a 4-year university, community college, or other higher education institution. Improper purchases will not be your responsibility if your card is lost or stolen. When buying products outside of the United States, you will not be charged a service charge. You can also claim cashback for any sum at any time during the account’s lifetime, with no expiry date.
5. Bank of America® Travel Rewards Credit Card for Students
Most other student cards have lower risks and benefits than the Bank of America Travel Rewards Credit Card for Students*. You get a greater rewards rate (1.5 points per dollar spent on all transactions) but less of the credit novice-friendly restrictions. When you enroll up and spend $1,000 during the first 90 days, Bank of America will give you 25,000 extra digital points, which is comparable to a $250 statement credit on traveling and dining expenditures. This is a greater bar to clear than with other student cards, but it also comes with a higher payout. Bank of America has been one of the few credit card companies that can accept cosigners, a parent, guardians, or anyone with a decent credit score ready to share legal obligations.
6. Bank of America® Customized Cash Rewards Credit Card for Students
One of the most significant initial incentives of any student credit card is offered by the Bank of America® Customized Cash Rewards Credit Card for Students. Young members can earn a $200 cash back rewards incentive after completing $1,000 in transactions during the first 90 days of opening the account, just like their adult counterparts (the Bank of America® Customized Cash Rewards Credit Card). The opportunity to choose the sector in which you receive the most points is another appealing aspect of the card. Each quarter, you could choose to receive 3% back on petrol, internet retail, eating, travel, drugstores, or home renovation on up to $2,500 in spending (combined with the 2% grocery and warehouse club categories, then 1%), and you can alter your 3% category decision once per month. For the first 15 billing cycles, new cards enjoy a promotional 0% APR on purchases and money transfers (made within the first 60 days after account establishment) (then a 13.99 percent – 23.99 percent Variable APR). If you have a lot of upfront expenses to repay off over time, such as dorm decor or books, this is a good option — but make sure you have a strategy in place to pay off the amount before the introductory 0% APR period ends.
7. Chase Freedom® Student Credit Card
The original, famous Chase Freedom® card is no longer receptive to potential applicants, but the Chase Freedom® Student credit card is still accessible. New cards can get a $50 bonus after making their first transaction during the first three months of creating their account, as well as 1% cashback (1 point per dollar) on all transactions. You’ll get a $20 bonus (2,000 points) every year your account is in top form, and you can get a credit limit boost after making five on-time monthly payments within 10 months of account establishment (when you meet credit criteria). For a no-annual-fee student card, the Chase Freedom® Student credit card offers unexpectedly outstanding advantages. When you pay for a qualifying purchase with your card, you’ll get a one-year warranty extension on the company’s guarantees of three years or less, as well as 120-day protection against loss or theft on new items (up to $500 per claim and $50,000 per account). When you purchase with the card, you’ll also get trip disruption or cancellation coverage, worth up to $1,500 per person and $6,000 per trip for pre-paid, non-refundable trips (for example, if you become sick and have to cancel or curtail your trip, or if it’s canceled due to bad weather).
8. Deserve® EDU Mastercard for Students
Although the Deserve® EDU Mastercard for Students does not offer exceptional benefits, it is unusual in that it does not require a Social Security Number to apply. This makes it a fantastic choice for foreign students who would not otherwise be eligible for a credit card issued in the United States. After paying $500 in the first three billing cycles on the card, new users can get a free one-year Amazon Prime Student subscription ($59 value).
9. Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Student Cash Rewards Credit Card is a terrific opportunity for individuals who spend a lot on restaurants, grocery, entertainment, and qualified online streaming, despite the lack of a welcome bonus. You’ll get 3% cashback on these areas with no restrictions and 1% cashback on everything else.
10. Journey Student Rewards from Capital One
When it comes to late payments, most credit cards punish you, but Capital One’s Journey Student Rewards offers a different approach. While the card still charges late penalties (up to $40), it incentivizes you to pay on time by rewarding you with bonus benefits. This is why this card is a great choice for students.