6 Best Credit Cards For Students in 2024

College is the crossroad between childhood and transitioning into a full-grown adult. It’s the building block where most students start their financial journey—finding a suitable credit card to manage your money and extra access to cash when necessary is a pretty important step.

There are many credit cards for students, but selecting the best student credit card that fits your needs can be complicated—aside from offering the services you want. You must also consider the fees and hidden charges you must pay for the services. Hence, we’ve compiled a good list of cards for students this year to ease you on your journey to financial stardom.

Credit Cards For Students: Best Offers

The goal of every cardholder is to get the best credit cards. So as a student, your credit card must have the proper spending limits, small fees, and the most competitive rewards. To ensure you get this, our team of reviewers has curated this list of the best options you can for.

We advise you to carefully research, evaluate, and compare all options on this list. So you can arrive at a final decision that aligns with your interests.

	Welcome Bonus	Annual Fee	Regular APR	Credit Needed
Chase Freedom® Student Card	Get a $50 bonus when you make your first purchase in the first three months of signing up.	$0	18.74% Variable APR	690-850
Deserve® EDU Mastercard for Students	Amazon Prime Student subscription is worth $69 when you spend up to $500 in your first three months.	$0	22.4% Variable APR	630-850
Discover it® Student Chrome	Get unlimited cashback matching all your purchases throughout the first year. You can turn $100 into $200 with this match offer.	$0	16.74-25.74% variable APR.	630-689
Discover it® Student Cash-Back	Get an Unlimited Cashback Match on your purchases throughout the first year. Use the 100% match bonus to turn $50 into $100.	$0	16.74% – 25.74% variable APR	630-689
Capital One Quicksilver Student Cash-Rewards Card	Get $50 for spending up to $200 in your first three months of getting the card	$0	17.99% – 27.99% Variable APR	630-689
Journey Student Rewards from Capital One	None	$0	28.49% Variable APR	630-689

Chase Freedom® Student

This card is a great one for students. It charges zero annual fees and offers a credit-building feature to keep your history documented and factored by the credit bureaus. It also provides good and special incentives for active usage of the card. It is among the list of the best student cards. The essential requirement to qualify is to be a student. But you also need a good score to be approved.

Welcome Bonus: Get a $50 bonus when you make your first purchase in the first three months of signing up.

Annual fee: $0

Regular APR: 18.74% Variable APR

Credit needed: 690-850

Pros

• No annual fee is charged.
• Cardholder rewards.
• Welcome bonus to users.

Cons

• Don’t have bonus categories.

The decent bonus offer here makes it student-friendly, although no bonus category exists to maximize the bonuses. It’s also relatively easy to manage, charging no additional fee for usage or maintenance.

Deserve® EDU Mastercard for Students

This card doesn’t offer much for students in terms of good rewards. You can only get up to 1% cash back on all purchases here. But it does present good phone protection and doesn’t require deposits for approval. This student card can also take your mind off worries when you travel internationally. This card is also one of the best student credit cards.

Welcome Bonus: Amazon Prime Student subscription, worth $69 when you spend up to $500 in your first three months.

Annual fee: $0

Regular APR: 22.4% Variable APR

Credit needed: 630-850

Pros

• Doesn’t charge annual fees.
• Doesn’t charge foreign transaction fees.
• Offers a fair reward rate to students.

Cons

• It doesn’t have good bonus categories.

The top feature here is the zero annual fee charge. There is also a one-year Amazon Prime Student offer when you spend up to $500 in your first three months.

Discover it® Student Chrome

Discover It is one of the best banks for students. This proposal from the company is quite impressive. It allows anyone with no FICO history to apply and gives them some of the best rewards. With its zero annual fees, you can earn cashback from gas and dining in your quarterly purchases of up to $1,000.

Welcome Bonus: Get unlimited cashback matching all your purchases throughout the first year. You can turn $100 into $200 with this match offer.

Annual fee: $0

Regular APR: 16.74-25.74% variable APR.

Credit needed: 630-689

Pros

• Doesn’t charge annual fees.
• Proposes an introductory APR.
• Bonus categories can help with rewards.
• Allows average approval requirements.

Cons

• Has a complicated rewards system.

Although not the best on the market, this is preferable to many others. Consider the coin if you spend a lot on gas and restaurants.

Discover it® Student Cash-Back

This is another Discover It student card that has impressive features. The card offers some generous cashback rewards at no extra fee. It doesn’t even require students to have high credit scores. The minimum requirement to get approved is 630. However students will be able to enjoy various features on the platform.

Welcome Bonus: Get an Unlimited Cashback Match for purchases throughout the first year. Use the 100% match bonus to turn $50 into $100.

Annual fee: $0

Regular APR: 16.74% – 25.74% variable APR

Credit needed: 630-689

Pros

• Zero annual fees.
• Has good bonus categories.
• Has an average credit requirement.

Cons

• The reward system is complicated.

This is the credit card for students just starting to manage their finances. Aside from the numerous rewards, it also gives you low fees and forgives the first late payments.

Capital One Quicksilver Student Cash-Rewards

Opting for this card gives students the best advantages compared to a regular credit card for students. Here, you get unlimited rewards on all your purchases. You can also earn extra funds of up to $500 yearly by referring friends and family. This is one of the best student credit cards.

Welcome Bonus: Get $50 for spending up to $200 in your first three months of getting the card

Annual fee: $0

Regular APR: 17.99% – 27.99% Variable APR

Credit needed: 630-689

Pros

• Has good cash-back rewards.
• Flexible approval requirements.
• Zero annual fees.
• No foreign transaction fee.

Cons

• It doesn’t have bonus categories.

The best credit card features for students are decent rewards and easy application. This one fulfills both, which is why you should consider it when getting a card as a student.

Journey Student Rewards from Capital One

Journey Student Rewards require an average score to get approved. It also doesn’t charge annual fees to keep the card active. However, there is no welcome bonus if you hope to get one. This is replaced with a juicy rewards program. Earn 1-5% cash-back on various categories every month.

Welcome Bonus: None

Annual fee: $0

Regular APR: 28.49% Variable APR

Credit needed: 630-689

Pros

• Zero annual fees.
• Requires average credit for approval.
• Doesn’t charge foreign transaction fees.
• Multiple rewards are available.

Cons

• High APR.
• Complicated rewards system.

This card offers more straightforward flat-rate rewards on purchases. It also provides impressive bonuses. You should apply here if you have average credit.

What Are Credit Cards For Students?

Credit cards for students are a particular type of credit card issued to students. The primary criterion is that the student must be older than 18 and most likely in a college or higher institution. The card works like a regular card but has some unique features you won’t find on other cards.

This card allows students to apply without including an income eligibility status in their application. For example, you don’t need to inform the bank how much you make monthly or annually before getting approved. The card usually lasts for five years. And it has lower interest rates and fair rewards. It can be a smart way for students to build a financial history.

What Should You Know About Getting a First Credit Card as a Student

It would help to consider many essential things before opting for a student card. It’s one of the best ways to kick off your financial life. But you must be above 18 to apply. Likewise, you must also be able to provide a means of identification.

Another good thing to consider is the purpose of the card. If you’re better off with a debit card, you might be better off with one. However, credit cards are advisable compared to student loans. Credit card for students is a great option to access extra funds without incurring colossal interest.

Benefits of Having a Student Credit Card

You can derive many good benefits from owning a student card. Below are other advantages of owning a credit card for students.

• It helps you start your financial life and build a healthy transaction history.
• It can teach you how to manage money effectively and pay dues responsibly.
• It serves as a good financial backup plan, especially during an emergency.
• It offers impressive bonuses and rewards for purchases.
• Get privacy and convenience if managing your own money.
• The account sometimes offers efficient tools to keep track of your spending.
• It can help lower your spending habits and cultivate healthy money management habits.

Downsides of Having a Student Credit Card

Everything has its limits; this applies to student credit cards too. Here are some of the drawbacks of the financial solution for students.

• Account limits and spending caps are often shallow.
• Students are sometimes charged high-interest rates.
• It might give an intro to fewer good benefits compared to regular cards.
• It might affect your payment profile if you defect payments.

How to Compare Student Credit Cards

To compare multiple options and arrive at a final decision, there are subtle features you should consider. Check out some of the below.

• Welcome Bonus: The type of welcome bonus available can determine how generous a bank is. Always opt for good options with decent offers to new cardholders.
• Annual fee: It’s a good idea to avoid cards with annual fees. But if you must, go for those with the least expensive costs.
• Regular APR: This is the interest charged on average. Try selecting a card with low APRs, so you don’t have to worry when you defect payments.
• Credit needed: Many banks still want to know your score, even if you’re a student. So, if you have a financial profile, provide it.

Why Is Building Credit Important for Students?

Every student understands that it’s a phase. They’ll have to progress to own a business or work a job. So, building credit while still being a student is a significant flex. Students can own an account and start building a payment history while still having lots of support, making it easier to meet their financial goals.

Hence, applying for loans, mortgages, and other financial aid is more accessible with your record. Building your profile as a student will keep you a step ahead of others. You can develop your history by keeping a good repayment record on your card.

Can I Get a Student Credit Card With No Credit Check?

Many student credit card issuers don’t require credit checks for approval. That’s because most students don’t have a history to check anyway. So, if you apply for cards with banks that don’t require checks, you can get approved if you meet the other criteria.

Applying for a secured card might also help students evade credit checks. Another way to get a card without a credit check is to cosign an account with a friend or trusted relative. Otherwise, get authorized on another person’s card. You can access a card and develop your payment history.

Can I Prequalify for Student Credit Cards?

Student credit cards are easier to get than other cards. The pre-approval and approval process is often simple, although approval is never guaranteed. Students’ identities, needs, and documents must also be evaluated.

Depending on the card issuer, you might have to provide different information. Some students can get disapproved for poor records or lack of a substantial income. So even though most students can prequalify for a card, there’s no guarantee of being pre-approved.

Alternatives to Student Credit Cards

Rather than opting for a student credit card, there are multiple good options you can opt for. Not that it’s not a good option to get a student card. There are just scenarios where you’ll be better off with other cards.

Although they offer similar good services, they have different requirements for approval. Some require fewer documents for approval, while others allow more funds access and management flexibility. You can check them out below.

Secured Credit Cards

There are a lot of similarities between secured credit cards and traditional ones. But they also differ in some cases. A secured card is a regular card because it presents the same service. Users can guarantee their readiness to repay the creditor by providing upfront money.

Meanwhile, banks determine your eligibility status with your payment history when applying for student credit cards. Hence, a secured card could be your best option if you don’t have a transaction history. It also makes it easy to get approved as long as you have the minimum deposit.

Charge Cards

A charge card is also similar to a credit card. This card allows the cardholder to access extra money but must repay the whole. The benefit is that the cardholders won’t have to keep to a preset spending limit as credit cards do, making them a better alternative to student credit cards.

Every payment makes you indebted to the creditor. All payments are approved based on your spending habits and payment history. It’s an excellent way to start your financial record since the creditor can report you to credit bureaus.

Gift Cards

Gift cards are unique cards that allow users to store their cash. Rather than access extra cash from a creditor, the cardholders must purchase a gift card with stored value. This way, anytime they need extra money, they’ll best be able to convert the value of their gift card to monetary transactions.

Gift cards are best for students because they usually curb bad spending habits. You’ll be able to keep track of how many gift cards you purchase. However, you won’t be able to create a history with gift cards either.

Conclusion

As a student, you’re probably new to the financial world. Hence, choosing the most suitable financier might be pretty tricky. However, considering the important factors determining usability might help you reach a consensus more easily than you imagined.

So, we urge you to include some of the features discussed earlier for comparing each option. If you are still in doubt, you can do more extensive research on both of them to finalize which one would be worth your investment.

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