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Best student credit cards for July 2024
Building credit while youโre a student can help you prepare for the post-grad future, when youโll have more income and more expenses. By laying the foundation today, you can establish the credit youโll need to rent an apartment, take on auto or personal loans, buy a home, and more. Plus, using a credit card (responsibly) for your spending may offer savings and perks for your tighter student budget.
Each card below allows students to build credit and earn rewards on their spending. If you have little to no credit history, youโre more likely to get approved for a starter card designed for students or building credit than other cards that might require good-to-excellent credit.
Additionally, every card on our list regularly reports payments to all three credit bureaus (Equifax, Experian and TransUnion), and offers access to your credit score (such as VantageScore and FICO) so that you can track your credit progress over time. But thatโs not all they have to offer. Youโll find a range of credit cards for students that have benefits, rewards, and more that can help you save money as a student while you build a solid credit history for your future. These are the best credit cards for students right now.
Best student credit cards for July 2024
Best for commuters: Bank of Americaยฎ Customized Cash Rewards for Students credit card
Best for groceries: Capital One SavorOne Student Cash Rewards Credit Card
Best for restaurants and eating out: U.S. Bank Altitudeยฎ Go Secured Visaยฎ Card
Best for school supplies and necessities: Prime Visa Credit Card
Best for studying abroad: Bank of Americaยฎ Travel Rewards Credit Card for Students
Best for students with no credit history: Petalยฎ 2 Visaยฎ Credit Card
Best secured credit card for students: Capital One Quicksilver Secured Cash Rewards Credit Card
Best welcome bonus: Discover itยฎ Student Cash Back
Best for commuters: Bank of Americaยฎ Customized Cash Rewards for Students credit card
The Bank of Americaยฎ Customized Cash Rewards for Students is similar to the non-student cash-back version of this credit card โ and has a lot of potential rewards value for new cardholders. Hereโs a rundown:
Annual fee: $0
Welcome offer: $200 cash welcome bonus after you spend $1,000 within the first 90 days
Rewards: Earn 3% cash back in the category of your choice, among:
Gas and EV charging stations
Online shopping, including cable, internet, phone plans, and streaming
Dining
Travel
Drug stores and pharmacies
Home improvement and furnishings
Also get 2% cash back at grocery stores and wholesale clubs (with 3% and 2% applied to the first combined $2,500 spent each quarter) and 1% on everything else.
Pros:
Allows you to choose what category you earn the most rewards in
0% intro APR
Unlimited 1% cash back
Includes FICO score access
No annual fee
Cons:
Potentially high APR (up to 28%)
3 to 4% balance transfer fees
Bonus category cash back limited to $2,500 per quarter
3 to 5% foreign transaction fees (not great for students studying abroad)
$40 late payment fees
More details: This card comes with an introductory 0% APR on new purchases for 15 billing cycles, which can be a great way to finance big purchases without paying interest for several months (18.24%-28.24% variable APR thereafter). Rewards you earn can be redeemed as statement credits or cash back into a Bank of America account.
Why itโs good for students
Not only is it a card geared toward student applicants, but the Customized Cash Rewards card also has a lot to offer students who may have longer journeys to and from the classroom. We like this card for commuters specifically thanks to its generous cash-back rate at gas stations โ the highest among student cards we compared.
Letโs say you live a 20-mile drive from where you attend school and commute to and from class three days a week on average. Combined with your other driving, that means you need to fill your small carโs 12-gallon gas tank about once a week. Given current average gas prices around $3.44 per gallon, you would spend around $165 a month on gas.
Choosing gas as your choice 3% category could give you nearly $60 back on this expense over a year. Of course, thatโs before accounting for the 2% youโll earn on grocery essentials and the first-year bonus.
Best for groceries: Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Student Cash Rewards card is a close relative to its counterparts in the Savor lineup. But this card designed for students can make a great option for building credit while earning cash back through undergrad, grad school, and beyond.
Annual fee: $0
Welcome bonus: $50 cash bonus after you make at least $100 in purchases within the first three months
Rewards: 8% cash back on Capital on Entertainment purchases, 5% on hotels and rental cars booked through Capital One travel, 3% cash back in the categories below, 1% back on everything else:
Dining
Entertainment purchases (includes movie theaters, amusement parks, tourist attractions, and more)
Popular streaming services (Netflix, Hulu, Disney+, among others)
Grocery stores (not including Target and Walmart)
Pros:
Up to 8% cash back on some purchases
No limit on rewards
No annual fee
Requires only fair credit to qualify
No foreign transaction fees
Cons:
Potentially high APR (up to 29.99%)
No intro APR
$40 late payment fees
More details: You can redeem your cash back for statement credits, a check, gift cards, or toward recent purchases made with your card.
Why itโs good for students
The range of cash-back categories offered by SavorOne can offer a solid amount of cash back over time. You may have a tight budget as a student, but trips to the movies, a concert, or a sporting event can become a little more affordable with 3% savings. Youโll also get 3% back each time you eat out and for any streaming services you pay for each month.
But we like this card most for the 3% grocery category โ which makes it one of the best cards for students living off-campus without a dining plan. For example, if you spend $260 a month (the average monthly grocery spend for college students), you could rack up nearly $100 each year in rewards just in this category.
Best for restaurants and eating out: U.S. Bank Altitudeยฎ Go Secured Visaยฎ Card
U.S. Bankโs Altitudeยฎ Go Card is a travel rewards card with everyday bonus rewards categories. This secured version can give you great value on your spending habits, but the security deposit requirement makes it possible to get approved without a strong credit history.
Annual fee: $0
Rewards: This card has tiered bonus categories that cover a range of spending options:
4x points on dining, takeout, and restaurant delivery
2x points at grocery stores, grocery delivery, streaming services, gas stations, and EV charging stations
1x points on everything else
Pros:
No annual fee
Flexible payment dates
Includes identity theft monitoring
Cons:
Requires a security deposit of $300 to $5,000
3% balance transfer fee
More details: Youโll need a minimum $300 (max $5,000) refundable deposit upon opening. You can redeem your points for travel, cash back, toward purchases, and more. Thereโs a 2,500 redemption minimum. As another small annual benefit, youโll get a $15 streaming service credit after you pay for streaming (including Netflix, Hulu, Apple TV+, Spotify, and more) using your card for 11 months.
Why itโs good for students
A secured credit card can be a useful tool to help build your credit. It works like any other credit card, but the refundable deposit you make at opening will determine your credit line and act as collateral for the credit card company. Thatโs why secured credit cards can be easier to access than standard cards.
The drawback with many secured cards is the lack of added rewards and benefits. Thatโs why U.S. Bankโs Altitude Go Secured stands out for students looking to build credit โ it can be incredibly valuable for earning rewards.
This cardโs rewards rate on dining, in particular, is unmatched among cards available for students today. At 4x points per dollar spent, you could bring in 19,680 points on dining alone each year, assuming you spend around the average $410 that college students use for eating off-campus each month. At a redemption rate of 1 cent per point, thatโs more than $196 in rewards on just dining.
Best for school supplies and necessities: Prime Visa Credit Card
The Prime Visa card can help any frequent Amazon.com shopper save a lot of money on classroom supplies and other essentials. But it can also be a solid choice for everyday spending.
Annual fee: $0 (but does require Amazon Prime membership)
Welcome bonus: $200 Amazon gift card upon approval
Rewards: Earn cash back in rewards categories beyond just Amazon:
5% cash back on Amazon.com, at Amazon Fresh, Whole Foods Market, and Chase Travel with an eligible Prime membership
2% cash back at restaurants, gas stations, and on local transit and commuting
1% cash back on everything else
Pros:
No annual fee
Unlimited rewards
0% intro APR
Cons:
Requires an Amazon Prime membership
More details: In addition to standard rewards, you may earn up to 10% cash back on different products and categories at Amazon.com that change throughout the year. Rewards redemption options include cash back, travel through Chase, and toward purchases you make with Amazon.
Why itโs good for students
This card can save any Amazon shopper a good amount of money, but it can be especially lucrative for college students. The Prime membership required for this card typically runs $14.99 per month, or $139 per year. But as a student, youโre eligible for a discounted rate of $7.99 per month or $69 per year.
In addition to the surprising range of rewards categories for a co-branded credit card, we include the Prime Visa on this list for the 5% savings you can get on all your Amazon spending. College students going back to school spent an average of $1,367 on supplies and other back-to-college gear this year, for example. If you picked up all your necessities at Amazon using this card, that could net you $68.35 in savings โ without considering all your other potential Amazon spending throughout the school year.
Thereโs one drawback. Unlike the other cards on this list, the Prime Visa isnโt designed for students or building credit. If you have absolutely no credit history, you may find it more difficult to qualify. Make sure you check the issuerโs site and look for pre-approval options before you apply, so you can submit your application confident youโll be approved.
Best for studying abroad: Bank of Americaยฎ Travel Rewards Credit Card for Students
You can earn great travel rewards as a student with Bank of Americaโs student version of its Travel Rewards card. Thatโs a rare benefit among credit-building cards, and can be a great way to begin maximizing travel rewards for years to come.
Annual fee: $0
Welcome bonus: 25,000 bonus points after you spend at least $1,000 within the first 90 days (equivalent to $250 in cash if you redeem for a statement credit toward dining or travel expenses)
Rewards: 1.5x points on every $1 purchased
Pros:
0% intro APR
No foreign transaction fees
Large welcome bonus
Unlimited rewards
Cons:
Potentially high APR
More details: You can redeem your rewards points as statement credits at a value of 1 cent per point toward travel and dining purchases you make with your card. This card also has an introductory 0% APR offer for new purchases that lasts 15 billing cycles after opening (the variable APR of 18.24%-28.24% applies thereafter).
Why itโs good for students
If youโre planning to go on a study abroad program while youโre in school (or even spend a summer backpacking) this card can make a great companion. You donโt have to worry about tracking categories to maximize spending, and you can use the points you earn to wipe out your travel expenses (including flights, hotels, baggage fees, and more) and restaurant spending at school or while traveling.
This cardโs 0% APR on new purchases may be helpful for study abroad expenses, too. If youโre planning to spend more than whatโs in your typical budget to fund your international travel, youโll have 15 billing cycles to pay down the cost without paying more in interest. Just make sure you have a plan to eliminate the balance in full by the end of that period โ or risk taking on high interest debt.
Finally, waived foreign transaction fees can save you a good chunk of money in fees on the purchases you make abroad.
Best for students with no credit history: Petalยฎ 2 Visaยฎ Credit Card
The approval process for the Petal 2 card is a bit nontraditional. It uses a โCash Scoreโ in place of your credit score โ which can be useful for students without any credit history. Plus, this card has a lot to offer after youโre approved.
Annual fee: $0
Rewards: This card has a tiered cash-back rate, which goes up as you use it responsibly:
1% cash back on all purchases to start, after opening
1.25% cash back after making six on-time monthly payments
1.5% cash back after making 12 on-time monthly payments
Pros:
No annual fee
Includes credit score tracking
No late payment fees
Cons:
Small credit limit ($300 to $10,000)
Fairly low cash-back rate and no bonus categories
More details: With on-time payments, you can qualify for a credit limit increase in as little as six months through Petalโs Leap program. This card also carries no late fee or returned payment fee, which can offer some peace of mind if you accidentally miss a payment.
Why itโs good for students
We like this card for students because itโs a solid cash-back rewards card thatโs attainable with no credit history at all. Youโll get approved based on a Cash Score, which uses bank account information you provide and your history of paying bills on time to determine creditworthiness.
Another benefit of this card for students trying to build credit is its rewards structure. The ability to earn more in cash back alongside your positive payment history can work as a great incentive to pay on time and build a habit of good credit practices from the start of your journey.
Best secured credit card for students: Capital One Quicksilver Secured Cash Rewards Credit Card
Unlike many secured credit cards, the Quicksilver Secured from Capital One has a lot of ways you can benefit beyond just building credit. Being a secured card doesnโt make it any less valuable than the other cards on our list, and it can be a great way to jump-start building credit as a student.
Annual fee: $0
Rewards: 1.5% cash back on each purchase
Pros:
No annual fee
Unlimited rewards
Allows you to increase your credit line in six months
Cons:
Requires a security deposit of at least $200
No bonus categories
No intro APR
More details: Youโll need to pay a minimum $200 as a refundable security deposit upon opening. Your security deposit acts as your line of credit, so whatever amount you open the card with will also be your spending limit. You can use your rewards to get cash back, to cover purchases you make with your card, or for gift cards.
Why itโs good for students
Secured credit cards are one way for students without a credit history to access and begin building credit, but their rewards (if any) are usually much less valuable than other credit cards. We like the Quicksilver Secured because it offers the safety net of a security deposit without sacrificing the benefits of the regular cash-back Quicksilver.
Secured cards are a stepping stone to full credit responsibility, though, which is why we look for cards with a path to upgrade. With the Quicksilver secured, youโll be considered for a higher credit limit (which can help you build your score faster) in a minimum of six months, without having to deposit more. You can also earn your deposit back over time and the chance to upgrade to the non-secured Quicksilver card โ while you keep earning your flat-rate cash back.
Best welcome bonus: Discover itยฎ Student Cash Back
The Discover itยฎ Student Cash Back is a great first credit card with both ongoing rewards and a solid welcome bonus, especially among other student card options.
Annual fee: $0
Welcome bonus: Double your total cash back earned over the first year with Discoverโs Cashback Match program.
Rewards: 5% cash back on everyday purchases in rotating categories (up to $1,500 spent each quarter, then 1%) and 1% on all other spending. Past 5% categories have included Amazon.com, Target, wholesale clubs, restaurants, and more.
Pros:
High cash-back rate on bonus categories
0% intro APR
No annual fee
Cons:
$1,500 limit on bonus cashback categories per quarter
More details: You can redeem your cash back for a check, statement credits, purchases at Amazon.com, or PayPal spending. Thereโs also a 0% APR offer for new purchases lasting six months after account opening (the ongoing variable APR is 18.24%-27.24%). When you graduate, your card will become a standard credit card. You can call Discover to update your information and see if youโre eligible for a credit line increase โ and continue using it for spending and rewards.
Why itโs good for students
Discoverโs Student Cash Back card is a common choice for students โ and for good reason. With rotating rewards in a range of everyday categories, you can save a lot of money on your regular expenses over time.
One of the things we like best about this card is the Cashback Match welcome offer.
Letโs say you put all the expenses you can on your Discover card and pay the balance off in full each month. Not including housing expenses, the College Board estimates a low-cost budget for college students is about $14,127 per year, or $1,177 per month. Only accounting for the 1% back outside of bonus categories, thatโs around $141.27 youโd earn over the first year.
With the Cashback Match offer, you could get an additional $141.27 at the end of your first year, for a total $282.54 back โ before taking any 5% categories into account.
If you are able to max out your 5% rewards each quarter by spending $1,500 in the eligible bonus categories, thatโs an extra $300 youโd earn over the course of a year โ and another $300 you could get matched with through the welcome offer.
More student credit card options
The cards above are some of the best cards for students today, but there are plenty of other solid choices if youโre looking for a way to build credit and get great value. Hereโs a brief look at a few more student credit card options we recommend:
Chase Freedom Riseโ
The Freedom Rise card is Chaseโs credit-building cash-back card option. For no annual fee, you can get 1.5% cash back on every purchase. The cash back you earn isnโt only good for cash and statement credit redemptions; you can also redeem them as points through Chase.
If youโre focused on building credit, this card has a few helpful benefits. Youโll get a $25 statement credit when you enroll in automatic payments within three months of account opening โ a great incentive that can also help you avoid late fees and penalties. Chase will also automatically evaluate your account after six months to determine if youโre eligible for a credit line increase.
This is already a starter card designed to help you build credit, but you can improve your approval chances even more if you already bank with Chase. If you have an eligible Chase checking account with at least a $250 balance, you improve your chances of getting approved for the Freedom Rise card.
Discover itยฎ Student Chrome
Discover itยฎ Student Cash Back may be our top pick for students, but the Student Chrome from Discover may bring a lot of value to your spending, too. This no-annual-fee card has the same Cashback Match welcome offer and introductory 0% APR for new purchases for six months (18.24%-27.24% variable APR thereafter).
For rewards, youโll earn cash back in a couple of everyday categories: 2% cash back at gas stations and restaurants up to $1,000 in combined purchases each quarter, and 1% back on everything else. If you max out the 2% category each quarter, thatโs $80 cash back annually, plus your additional 1% earnings.
BankAmericardยฎ for Students
Unlike many of the cards on our list, you wonโt get any ongoing rewards from the BankAmericardยฎ for Students. Instead, this card is best for students looking to maximize an introductory APR. With a 0% APR on new purchases for up to 18 billing cycles (16.24%-26.24% variable APR thereafter), this card has the longest intro period among credit-building cards we could find today.
The no annual fee BankAmericard for Students also carries a 0% APR for
made within 60 days of account opening (with a 3% fee), but this may be less useful if you havenโt held a credit card in the past.
How to choose the best student credit card for you
Before you apply, here are a few things to consider as a student opening a credit card.
Fees and interest rates
If you donโt have a strong history to prove to issuers that you can make your payments on time and in full, you may look like a risky applicant โ even if you know you can pay your bills.
For this reason, many cards available to students and others with limited credit or no credit history may have higher fees, including annual fees, initiation fees, monthly account fees, and more. They may also carry higher interest rates than other credit cards.
Make sure you read the fine print to find any fees you might take on and how often youโll need to pay. If a card has an unusual amount of fees, much higher fees than its competitors, or hides fee notices within the fine print of a card agreement โ itโs probably best to avoid that card.
Whether you need a co-signer
If youโre under 21, it may be difficult to get approved for a credit card on your own. Under the law, credit card issuers cannot approve new cards for young adults between ages 18 and 20 unless they can prove they have the ability to make regular payments (generally based on income).
New credit card applications generally require you to provide personal information including your name, address, Social Security number, income, birth date, and more.
If youโre under 21 and donโt have a regular income, you may need a cosigner to help you open the account. This person will take responsibility for your credit card payments if youโre unable to make them yourself.
Bonus rewards categories
Student credit cards arenโt known for flashy sign-up bonuses and high-value annual credits โ those are typically reserved for rewards credit cards that require higher credit.
But you can still earn rewards and take advantage of great benefits as a student. Many student rewards cards will offer cash-back rewards, which makes it easy to cash in for a statement credit or direct deposit whenever you want. Some even earn points you can redeem toward travel.
While youโre weighing options, look for rewards categories that best align with where you spend most. If youโre on a dining plan at your school, for example, you may not get the best benefit from a grocery rewards credit card. You may instead want to look for a flat rewards rate on every purchase or rewards more targeted to your budget.
Long-term use
Student credit cards, alongside secured credit cards and cards for people with no credit history, can act as stepping stones to higher-value, more lucrative credit card options. Consider choosing a credit card from an issuer that offers credit cards you may want in the future โ if you like the airport lounge access benefits of the Capital One Venture X Rewards Credit Card, for example, you might want to consider one of Capital Oneโs student credit cards today.
While this doesnโt guarantee youโll get approved for the card you want anytime soon, you may have the chance to upgrade your card later on, if your account is in good standing and you have a proven history of good credit habits.
Alternatively, your student credit card may one day work in tandem with a more premium rewards credit card. The Chase Freedom Riseโ , for example, earns points under the Chase Ultimate Rewardsยฎ program. In the future, you may want to use it alongside a Chase Sapphire Preferredยฎ Card or Chase Sapphire Reserveยฎ to boost your points value and earn rewards across the two cardsโ unique rewards categories.
Making the most of your student credit card
Start maximizing your value by getting familiar with all that your card has to offer. For example, if you qualify for an intro APR on new purchases for a few months, you may want to apply when you know you have a large purchase coming up and could benefit from some extra time to pay it off interest-free.
If your student credit card offers rewards, make sure to charge all your purchases in bonus spending categories to the card so you can get the best possible return. As long as you pay your balance in full by the time your balance is due โ in other words, treating your credit card like a debit card โ you wonโt pay any extra interest charges but can make money back in points or cash back.
But the greatest benefit of opening a student credit card can have much more lasting effects on your personal finances. The earlier youโre able to begin developing your credit history and building your credit score, the better you can set yourself up for future financial success. A good credit score can be key to everything from renting an apartment to qualifying for a mortgage to getting approved for a more premium rewards credit card.
Practice good credit habits now to make the most of your student credit card and lay the foundation for your financial future.
Building credit as a college student
Here are some tips to keep in mind as you work on building a great credit score with your student credit card:
Pay on time. Credit cards can carry severe penalties for making late payments. Late payment fees can frequently cost up to $40 and even a single late payment could result in a penalty APR that increases your interest rate for a period of time. Set up alerts or automatic payments to ensure you always pay at least the minimum amount by your due date.
Pay in full. While you only need to pay the minimum to avoid extra fees, paying your balance in full each month is the only way to avoid paying interest on the purchases you make with your card. Thereโs no benefit to carrying a balance month-to-month; in fact, it can cost you a lot of money over time, especially on credit-building cards with interest rates upwards of 20% or more.
Keep your utilization low. Beyond payment history, credit utilization is an important factor in your credit score. This is the ratio of how much you charge to your card compared to your overall available credit. Aim to keep your utilization at 30% or below โ on a card with a $1,000 limit, thatโs about $300. This can be a challenge if youโre approved for a small limit or have a secured card, but as your credit score improves, you can often qualify for a higher limit and more flexibility.
Track your credit progress. After opening your student credit card, you can access your credit score through your online account. Youโre also entitled to weekly free credit reports from each of the three credit bureaus via AnnualCreditReport.com. Tracking your credit score and credit report regularly can help ensure youโre making progress toward your credit goals. Youโll also be able to quickly spot and resolve any signs of fraud or mistakes on your report.
Authorized user option
Another common way for students to build credit is by becoming an authorized user on someone elseโs credit card account. If you have a parent or loved one with good credit, they can designate you as an authorized user and help you build your credit score with access to their line of credit.
Youโll typically get your own card thatโs connected to the other personโs account. Theyโll remain responsible for any charges you make, so youโll need to work out how to separate payments (and any rewards earnings). If you overspend on your authorized user card without taking any responsibility for the payments, the primary cardholder could risk liability for mounting balances on their account.
As an authorized user, payment history for the account will appear on your credit report, which can help you build credit over time. If the primary cardholder misses payments or pays late, you could suffer the consequences.
This relationship requires trust on both sides; itโs important to only become an authorized user on a trusted loved oneโs account with a good credit history.
Our methodology
Building credit as a student can be one of the best ways to financially prepare for post-grad life. With that in mind, our list of the best student credit cards comprises credit-building cards, secured cards, and student credit cards with features and benefits designed to help cardholders build a solid credit foundation.
To create this list, we began by focusing on everyday spending and credit-building priorities most helpful for college students. This includes cards for groceries and study abroad, for example, and cards available to people with no credit history.
After determining the focus categories, we used our proprietary ranking system to evaluate more than two dozen credit cards aimed toward building credit. We considered all the credit cards we could find among major issuers that fell within the three card types we focused on for this list: credit-building, secured, and student.
The ranking system we developed for student credit cards looks at various card details that can add value for students. Annual fee, interest rates, 0% APR offers, rewards, and welcome bonuses are all applied. But we also looked at more targeted features, such as credit-building incentives, the ability to upgrade to a non-secured or non-student card, credit score access and reporting, and more.
Once each card was given a score using this system, we narrowed down options for our final picks to those cards that exceeded a certain threshold above the overall average for all the card options. Each card that meets this threshold has no annual, monthly, or initiation fees. They also provide credit score access, report to each of the three credit bureaus, and provide information about availability for applicants building credit.
From there, we used a more subjective view to choose the best among those cards that met our threshold and were the best fit for each of the categories already determined. Where possible, we used spending data to find the card that would offer the greatest number of rewards based on the average amount spent in a given category (groceries, dining out, school supplies, etc.). When spending data wasnโt available or relevant to the category, the chosen card may have been the highest-scoring among category options or have additional attributes that set it apart from the competition.
This article was edited by Rebecca McCracken
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bankโs website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.