Student Credit Cards are designed for college students who have limited or even no credit history. They offer a variety of benefits, including cash back rewards, 0% APR introductory rates, and a way to build credit. We examined nearly two dozen cards to arrive at the best student credit cards available today.
The use of student credit cards is growing. According to the California Student Aid Commission, 60% of college students use a credit card billed in their own name. Using plastic can meet several financial needs for those in college.
First and foremost, it provides students with safe and convenient way to make purchases. Second, it can offer a lifeline in emergencies. Third, it can help students build credit. good credit rating can be instrumental in helping you achieve your financial goals. Finally, it can generate some cash back rewards.
The better student cards offer perks specifically designed for college students. For example, some cards will reduce your interest rate if you achieve good grades. Other cards lower your rate when you pay your bill on time and stay under the credit limit. And almost all of the top student cards offer rewards specifically geared toward young adults.
To get you started we have picked out the best student credit card options of 2021.
Student Credit Card Editor’s Pick
- $50 Bonus after first purchase made within the first 3 months from account opening
- Earn 1% cash back on all purchases
- No annual Fee
- Get a complimentary 3 months of DashPass
- Earn 5% cash back on Lyft rides through March 2022
- $20 Good Standing Rewards after each account anniversary for up to 5 years
- Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria
- Free credit score with Chase Credit Journey
Top Student Credit Card Offers
1. Journey Student Rewards from Capital One—Editor’s Pick
The Journey Student Rewards from Capital One earns our Editor’s Pick for several reasons. It pays 1% cash back on all purchases. For each on-time payment, cash back goes up to 1.25%. There is no annual fee, and there is no foreign transaction fees. As such, it’s ideal for international travel. Capital One will also increase your credit limit after 5 monthly payments on time.
- Rewards: Earn 1% cash back on all your purchases.
- Bonus: Pay on time to boost your cash back to a total of 1.25% for that month
- No annual fee
- No foreign transaction fees
- Get access to a higher credit line after making your first 5 monthly payments on time
- Monitor your credit profile with the CreditWise® app
- $0 fraud liability if your card is ever lost or stolen
- Pick the monthly due date that works best for you
- Get customized alerts and manage your account with the Capital One mobile app
2. Deserve EDU—Best for International Students
The Deserve EDU is ideal for all students, including these from other countries. For international students, a social security number is not required. The card pays 1% cash back on all purchases. It offers credit limits of up to $5,000 and doesn’t charge an annual fee. There are no foreign transaction fees and free cellphone insurance up to $600.
- A college credit card for all students – both from the US and visiting from abroad. (For international students, an SSN is not required to apply)
- Get one year of Amazon Prime Student Membership after spending $500 on the card in the first 3 billing cycles
- 1% unlimited cash back on all purchases
- Credit limits up to $5,000
- $0 annual fee
- No foreign transaction fees
- Helps students build a credit history
- Use anywhere in the world where Mastercard is accepted
- Includes Mastercard Platinum Benefits like Car Rental Collision Damage Waiver, Roadside Assistance, Travel Assistance Services, Price Protection, Extended Warranty and ID Theft Protection
- Complimentary cellphone insurance up to $600
3. Petal 2 Visa Card—Best for Cash Back
The Petal 2 Visa Card is a fairly new card. While it’s not specifically designed for students, it makes for an excellent first credit card. It’s designed for those with fair to good credit. After 12 on-time monthly payments, you’ll earn 1.5% cash back on all purchases (1% until then). There are no fees, and credit limits range from $500 to $10,000. Petal reports to all 3 major credit bureaus, so responsible use of the card can improve your credit score.
- Designed for those with fair-to-good credit or cash flow.
- No fees whatsoever.
- Up to 1.5% cash back after making 12 on-time monthly payments
- 1% cash back on eligible purchases right away
- 2% – 10% cash back from select merchants
- $300 – $10,000 credit limits
- Build credit alongside tens of thousands of Petal Card members
- Cash flow technology may help applicants without credit history get approved
- Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments
- See if you’re pre-approved within minutes without impacting your credit score
- Petal reports to all 3 major credit bureaus
- No deposits required
4. Jasper Mastercard
The Jasper Mastercard is unique in that no credit history is required if you don’t have one. If you do have a credit history, Jasper will evaluate it as part of its underwriting. The card pays 1% cash back and charges no annual fee.
- Earn 1% cash back on every eligible purchase
- Boost cash back to 6% by referring friends
- No credit history required to apply if you don’t already have one
- No annual fee
- No security deposit
- Up to a $5k credit limit.
- Unique credit-building tools and tips via email and app Issued by WebBank, Member FDIC
5. Petal 1 Visa Card
The Petal 1 Visa Card is designed for those with low to fair credit. There is no annual fee or foreign transactional fees. It enables you to build your credit with up to a $5,000 credit limit.
- Designed for those with low-to-fair credit or cash flow who are seeking to improve their credit score.
- $0 Annual Fee
- 2% – 10% cash back from select merchants
- $500 – $5,000 credit limits
- No annual or international transaction fees.
- Build credit alongside tens of thousands of Petal Card members
- Cash flow technology may help applicants without credit history get approved
- Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments
- See if you’re pre-approved within minutes without impacting your credit score
- Petal reports to all 3 major credit bureaus
- No deposits required
6. Chase Freedom Student Credit Card
The Chase Freedom Student Credit Card is the only card on our list that pays a signup bonus. Add to that cash back, no annual fee and free credit score access, and that’s why the card earns an Editor’s Pick.
- $50 Bonus after first purchase made within the first 3 months from account opening
- Earn 1% cash back on all purchases
- No annual Fee
- Get a complimentary 3 months of DashPass
- Earn 5% cash back on Lyft rides through March 2022
- $20 Good Standing Rewards after each account anniversary for up to 5 years
- Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria
- Free credit score with Chase Credit Journey
How to Choose a Student Credit Card
There are several important factors to consider when choosing a student credit card:
Fees: The best cards charge no annual fee and no foreign transaction fees. The foreign transaction fees are particularly important if you plan to travel overseas.
Social Security Number: Most credit cards require a SSN, which is a problem for foreign students. Several on our list do not require a social security number.
Rewards: If you are going to use a credit card, you might as well earn some cash rewards. The standard reward rate is 1%, but some of the best offers pay up to 1.5%.
FAQs
No. Many student credit cards do not require a credit history. If you do have a credit history, however, it will be evaluated as part of the underwriting process.
Yes. Student credit cards generally report payments and balances to one or more of the major credit bureaus. As such, responsible use of the card can improve your credit score.
Generally, yes. Credit card issuers will require some proof of enrollment, along with the name of the institution and expected graduation date. Full-time enrollment, however, is generally not required. Part-time students can also qualify for a student credit card.
First, it’s designed for students with limited or no credit. Second, many cards offer rewards and other perks tied to grades.
Final Thoughts
A student credit card offers a secure way to pay and a credit limit to handle emergencies when away from home. They also allow young adults to build credit for the first time. At the same time, one must take care not to accrue significant credit card debt. For those who pay off the balance in full each month, a student credit card offers a secure, convenient way to manage finances while in school.
