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Best student credit card for October 2021 for 2022 Best university credit cards for the month of October 2020

Best student credit card for October 2021 for 2022 Best university credit cards for the month of October 2020

When you're a student, building shaky credit may not be your top priority. However, when it comes time to obtain a loan, finance 0 car, or rent an apartment after graduating, having good credit is vital. Several employers will even check your credit score before hiring you. However, it can be difficult to begin a credit history from the ground up. That's why the student credit card system exists.

Like a bike with training wheels, if they have sworn in, their student credit card helps them understand how to manage credit cards and begin building credit while also limiting risk. With a student credit card, spending limits are generally low compared to utilizing shopper credit cards. That means the possibility of debt spiraling out of control, resulting in poor credit, is reduced with a student card.

There are a few great student credit cards out there. This list -- which we'll update periodically -- will help you find and apply for the student credit card that's best for you. Check out the top offers in the list below.

The best student credit card overall for student loans

Rates and Fees are listed in the Rate and Charges section.
Highlights on a Card:
Intro Bonus Intro Offer: Unlimited Cashback Match - only from Discover. Discover will match all the cash back you've earned at the end of your first year! So you could convert $50 in cash into $100. Or you may convert $100 into $200. There are no minimum spending limits or maximum rewards. Just a dollar-for-dollar match.
APR APE Variable between 12.99% and 21.99% 12.9% - 21.99% Variabile between 12,99% 21.00 Variabil
Credit Recommendation Credit (RECOMMENDED) Credit Fair/New to Credit
Reward Rates are based on Rewarded Points.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter.
  • Earn 1% cash back on all other purchases automatically.
Fees and Fee Schedules for the Year $0 to $0-0
Intro Purchase APR For 6 months, 0% interest rate.
Additional Details:
APR for Intro Balance Transfer APM 6 months, 10.99% of the money is spent on healthcare.
Balance Transfer Fee *The intro balance transfer fee is 3%, and up to 5% fee on future balance transfers (see conditions)*
Balance Transfer APR APB Balance transfer APRI Variable between 12.99% - 21.99% 12.99 21.99 Variabile between 12,99% and 21,99% Variabil
Late Payment Fees None the first time you pay late. After that, up to $40.
Foreign Transaction Fees None.
Rewards & Redemption Details
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter.
  • Earn 1% cash back on all other purchases automatically.

The Discover it Student chrome* offers a great mix of cash back and other rewards, as well as lenient limits for first-time credit card holders. You won't be snubbed by the credit card company for a late payment -- at least not for the first one (no late payments fee for first late pay, up to $40 thereafter) -- or you wont have to pay an exorbitant penalty APR. Plus, getting 1 to 2% in rewards each month is a bonus. Note that Discover offers a similar student credit card, the Discover it Student Cash Back*, but the rotating bonus categories may make things difficult, especially for first-time cardholders.

Most student credit cards provide 1% cash back. The Discover it Student chrome card bests that with 2% cash back on gas stations and restaurants (on up to $1,000 in combined purchases each quarter, then 1%), and a generous cash-back match at the end of the first year. The match effectively doubles your first year's bonus rewards, so if you receive $75 in cash-back rewards during the first 12 months, Discover will chip in an additional $75. We also like that the Discover it Student chrome encourages good grades: You may earn a $20 statement credit for each school year you maintain octave gpa of 3.0 or higher (up to five years).

Apply Now.

Students with a poor credit history would be the best option.

Highlights of Card Highlight Highlight
Intro Bonus: Intra Bonus N/A N.D.A. N
APR (Achieving a Preliminary Proposal) is based on the APM. Variable 18,74% Variability
Credit Reference Credit Limited/No Credit Available/Limited/None Credit
Reward Rates are calculated based on Rewarded Recipients.
  • Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard.
Fees and Fee Schedules: $0 to $0.00
Intro Purchase APR ADR N/A N.B. N
Rewards & Redemption Details
  • Earn 1% Cash Back on all purchases with your Deserve EDU Mastercard.

The Deserve EDU Mastercard for Students places itself as an alternative to traditional banks and credit card issuers, and is specialized in credit cards for students and first-timers. The Deserve EDU student credit card ticks all the right boxes: it offers 1% cash back on all purchases, a relatively low late-payment fee, and an 18.74% variable APR. While it has a higher student rewards rate than others, its relaxed eligibility requirements are well suited to students with fewer than perfect credit history or other potentially disqualifying limitations -- such as not having 'social security number', if you're an international student.

The Deserve EDU student credit card offers 1% cash back on all purchases, which may be used for statement credits in increments of $25. After spending $500 in the first three billing cycles (which is roughly $59 each), Cardholders also get one year of Amazon Prime Student, as well as up to $600 of credit toward cell phone protection when you pay your monthly bill with it.

Apply Now!

Best for students who intend to maintain a healthy weight.

Highlights of Card Highlight Highlight Cards
Intro Bonus After first purchase made within the first 3 months from account opening, you'll receive a $50 bonus for every $50 spent within that period.
APR is the acronym for the Association of Public Relations (APR). 14.99% Variable Variability
Credits With Requirements Credit Excellent/Good Credit (Excellent/High Credit)
Reward Rates are calculated by calculating Rewarded Rate Rate.
  • Earn 1% cash back on all purchases plus $20 Good Standing Rewards after each account anniversary for up to 5 years.
Annual Fee $0 to $0-0. $0.00 to $0.00
Intro Purchase APR for Intra Purchase N/A N/3 N.A/B N1/A
Additional Details
Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.
Balance Transfer APR APRI (APR) Balance transfer April Transfer Balance transfers AFR Variable 14,99%
Foreign Transaction Fees 3 percent of each transaction in U.S. dollars is spent in the United States.
APR is a term of imprisonment for AFR. Up to 29,99% of the population is underrepresented.
Rewards & Redemption Details
  • Earn 1% cash back on all purchases plus $20 Good Standing Rewards after each account anniversary for up to 5 years.

The Chase Freedom Student credit card, which is a student version of one of our favorite cash-back credit cards, has incredibly much to offer. The 14.99% variable APR is one of the lowest available for student credit cards, and you'll receive a $50 bonus when you sign up and make your first purchase within the first three months from account opening, swages of $20 every account anniversary (for the initial five years) and if you meet credit criteria, you will earn 0% credit limit increases after five on-time monthly payments within 10 months of account creation.

The company's 1% cash back on all purchases is consistent with the category average, and the 5% cashback on Lyft rides through March 2022 is nice (although less practical for many in the coronavirus era). The $50 sign-on bonus can be triggered by making one purchase in the first three months, so you don't have to worry about exceeding a spending threshold. The $20 annual reward can be redeemed for up to five years as long as your account remains in good standing. You'll also get free and unlimited access to your credit score, which can be a useful tool for individuals who want to improve their credit.

Apply Now.

Students with a co-signer should consider this option.

Highlights of Card Highlight.
Intro Bonus After you spend at least $1,000 in purchases in the first 90 days of account opening, you'll earn 25,000 bonus points (a $250 statement credit for travel purchases).
APR: APRIL 1, 2006 ATR: Variable APR on purchases and balance transfers between 13.99% - 23.99% Variability in ARP on purchase and transfer fees between 13.99 % and 23.99
Credit Ratings: Recommended Credit Excellent/Good/Excellent/ Good/Very Good
Reward Rates are calculated based on Rewarded Recipients.
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire.
Annual Fee is $4.50 per year. $0 to $0-0
Intro Purchase APR For 15 billing cycles for purchases, there is a 0% Intro APR.
Additional Details Details Additional Information
Balance Transfer Fee Either $10 or 3% of the total amount of each transaction, whichever is greater.
Balance Transfer APR APM Balance transfer APRI 13.99% - 23.99% Variable APR on purchases and balance transfers.
Late Payment Fee Up to $40 per person up to 40 days.
Foreign Transaction Fees None.
Penalty APR APM APRs of up to 29.99% ADR are available.
Rewards & Redemption Details
  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee or foreign transaction costs, and your points don't expire.

Bank of America is one of the few card issuers that allows co-signers, which can be a parent, guardian, or anyone with shaky credit who's willing to share the legal liability. On the other hand, any late or missed payments or outstanding balances will negatively affect the co-signer's score.

The Bank of America Travel Rewards Credit Card for Students* is essentially the same as the Bank Travel rewards credit card*, which means it has higher risks and rewards than most other student cards. You get a higher rewards rate -- 1.5 points per dollar on all purchases -- but less of the relaxed requirements for credit novices. When you sign up and spend $1,000 during the first 90 days, Bank of America will give you 25,000 online bonus points, equivalent to a $250 statement credit towards travel and dining expenses. That's a higher threshold than you'll find with other student cards, but it' also carries fewer points.

Bottom line: If you can time your credit card application with a large purchase, it's worth it.

Apply Now.

FAQ's

What's the best student credit card right now?

Due to its lenient terms for first-time cardholders, including no penalty for the first late payment (late payment fee up to $40 thereafter), and a combination of cash back and other rewards, the Discover it Student chrome is our pick for this year's best student credit card. The Deserve EDU Credit Card is best for students without a credit history, while the Chase Freedom Student is advisable for those who plan to carry. If the student has a co-signer, we recommend the Bank of America Travel Rewards Credit Card for Students.

How does a student credit card work?

Students with no or limited credit may use student credit cards to start building credit and establish a credit history. They typically have lower credit limits than standard credit cards and don't have annual fees. And they often include novice-friendly features like late payment forgiveness, incremental credit limit increases over time, and credit education resources. Reward rates may be higher than for standard cash-back and travel credit cards, however, making student credit card payments a less-risk, less rewarding financial tool.

Are student credit cards a good option for first-time credit card holders?

Students who have no or little credit can use student credit cards as a starting point to build credit and establish stdibs. They typically have lower credit limits than standard credit cards and don't charge annual fees. They also often include novice-friendly features, such as late payment forgiveness, incremental credit limit increases over time, and credit education resources. However, while rewards may be higher than for standard cash-back and travel credit cards, student credit card payments are lower-risk, lower reward financial tool.

How is a student credit card different from securing credit cards?

While some people choose to build credit with a secured credit card -- that is, if you've secured your credit limit with cash, student credit cards work distinctly different. These cards typically only provide a small credit line, usually merely tens of thousands of dollars. The cardholder can use the card to establish credit without the worry of accumulating too much credit card debt (which leads to bad credit), while the credit bureau hopes that the person will find full-time employment and will use their card for everyday purchases for years to come.

What do you need to qualify for a student credit card to get enrolled?

A typical credit card application requires a high credit score (around 650 or so) and at least 1-2 years of credit history. To get a student credit card, however, you don't necessarily need either, though proving financial expertise and responsibility can aid in securing. The card issuer looks at sources of income -- even from part-time work or deposits from parents -- as well as information on checking and savings accounts to get a sense of an applicant's saving and spending. Simply making everyday purchases is a quick way to build credit (as long as the student is capable to pay off their purchases) once he or she has gotten s/he has received.

What are the advantages of a student credit card?

In addition to more relaxed eligibility requirements, the best student credit card will have one or more of the following attributes:

  • Special rules for credit newcomers such as minimal late fees and no-penalty APRs are available, as are certain guidelines for new credit applicants such a no penalties ARRs and zero-pentage AFRs.
  • Lower credit limits -- usually between $500 and $2,000 -- are common -- between 500 and $1,000.
  • Spending money in a Cashback rewards program will earn you points.
  • A "reasonable" APR -- typically between 15 and 20 percent -- is a "reliable" percentage rate -- generally between 15-20 percent.

How do cash-back rewards work?

"Cash back" refers to a statement credit that's applied to your account to lower your balance for all of the cards listed above. For most cards, cash rewards may be applied to a balance regardless of expense type.

How we chose the best student credit cards

We evaluated 19 credit cards marketed specifically to students and selected four that stood out on a variety of criteria, including APR, forgiveness for credit errors, cash rewards, and lenient eligibility requirements. We encourage students to examine important variables such as interest rate, whether the card has an annual fee, and whether or not the credit card offers a cash advance before making dietary changes.

Cards we found were based on the card samples we received.

  • Journey Student Rewards from Capital One are available for the Journey Journey student benefits program.
  • Discover it Student chrome
  • Discover it Student Cash Back
  • Students with the Deserve EDU Mastercard may use the card to pay for their education.
  • Students may purchase the Bank of America Customized Cash Rewards Credit Card for students with a Bank customized cash rewards credit card.
  • Capital One Platinum Secured Credit Card is a Platinum Capital 1 Secure Credit Cards card.
  • Travel Rewards Credit Card for Students from Bank of America
  • Citi Rewards+SM Student Card is a Citi rewards+SSM student card.
  • OpenSky Secured Visa Credit Card is an Opensky secured visa card that is accepted by the Open Visa secure Visa Visa credit card.
  • BankAmericard Credit Card for Students is a student-owned and operated credit card.
  • State Farm Student Visa for State Farmers.
  • Wells Fargo Cash BackSM College Card
  • Petal 2 "No Fees, No Cash" Visa Credit Card
  • Chase Freedom Student credit card is available for students who purchase a Chase freedom student credit score card.
  • Capital One Platinum Credit Card is a Platinum Capital Credit card that provides you with 1% of your Capital one income.
  • Discover it Secured Credit Card
  • Chase Freedom Unlimited is a Chase freedom unlimited.
  • Citi Double Cash Card is a Citi Double Card that allows you to pay for purchases with Citi Credit.
  • Capital One Quicksilver Cash Rewards Credit Card is a quicksiver cash reward credit card.

Disclaimer: The information in this article, including program features, program fees, and credit cards that may be charged to such programs, may change from time to time and are provided without any warranty. When evaluating offers, please check the credit card provider's website and review its terms and conditions for the most current offers and information. Opinions expressed herein are the author's own, not of any bank, credit card issuer, hotel, airline, or other entity. This material has not been reviewed, approved, or otherwise approved by any of the entities in this post.

The comments on this article are not provided or sponsored by the bank advertiser. Responses have not been reviewed, approved, or otherwise approved by the bank advertiser. It is not the responsibility of the bank advertiser to ensure that all posts and/or questions are answered.

*All information about the Discover it Student chrome, Bank of America Travel Rewards Credit Card for Students, Discoverit Student Cash Back, and Bank Of America travel rewards credit card has been collected independently by CNET and has not been reviewed by the issuer.

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