Student credit cards are designed for US college students over the age of 18, and are, in my opinion, something that each college student should have so that they can start building up a credit history and have a good credit score by the time they graduate (which is essential for employment checks, housing rental, and mortgage loans). A credit card will also come in handy when paying for everyday expenses such as groceries and utilities. What I like most about student cards is that many of them offer a rewards system and additional incentives when students get good grades and pay their bills on time. Some cards even offer a points system that gives you points for every dollar you spend. You can even find some student cards that offer 0% introductory APR (annual percentage rate) on purchases, which lets you hold a balance from one month to the other without incurring interest for a predetermined period of time.
To help you choose the right student credit card for yourself, we've put together a list of our best rated student credit cards currently available in the US. All the cards below have no annual fee.
Read our review of Citi ThankYou® Preferred Card for College Students - Earn 2,500 Bonus Points here.
Read our review of Discover it® for Students - Double Cash Back your first year here.
Read our review of Journey® Student Rewards from Capital One® here.
Wells Fargo Cash Back College Visa® card lets you earn 3% cash back on gas, grocery and drugstore net purchases for the first 6 months after you sign up, after that you earn 1%. You also get 1% cash back for all other purchases. Cash back can be redeemed in increments of $25, either as a deposit into your savings or checking account, as a check, for rewards or as credit. You also get an introductory APR of 5.90% to 13.90% on purchases for 6 months, after that, the variable purchase APR will be 11.15% to 21.15%. You get 5.90% to 13.90% intro APR on balance transfers for the first 6 months, 11.15% to 21.15% variable APR thereafter. Since the rate you get depends on your creditworthiness, if you don't have a (good) credit history yet you should be prepared to get a high APR. If you make your payments on time, you won't only avoid paying APR but will also build a good credit record. Benefits include chip-based technology, which gives you more security and lets you use this card outside of the US, and Zero Liability for fraudulent transactions. No annual fee.
Best Student Card Tips
Student credit cards are a great way for you to build good credit, which will be very important for you in the near future when you want to get a mortgage or loan. Apart from building a good credit history, having a student credit card will give you access to a line of credit and cash, as well as help you earn rewards or cash back when you make purchases.
Some student cards reward you if you have a good GPA and pay your bills on time and most cards give you between 1%-5% cash back when you make purchases with the card. Remember to always read the terms and conditions of the cards you're comparing in order to find the one that will give you the most rewards on the things you spend more money on. Remember to always look for the card that offers the most exciting rewards.
Many credit cards for students offer a 0% introductory APR for purchases, which is something you should keep in mind when looking for a credit card and planning on holding a balance. Remember that this introductory interest rate expires after a number of months, after which you will have to pay a high interest rate starting from 12.99% or more. So you shouldn't use your card as a supplemental student loan.
If you are careful, your student credit card will be a huge advantage to you, now and in later life. To see our full selection of Student Credit Cards click here.