There are still cards available for those with no credit history and getting a credit card can be an important first step in starting to build your credit. In this guide to college student credit cards, you’ll learn: These are the best student credit cards available today. The Discover it® Secured truly stands out, offering 2% cash back at gas stations and restaurants (up to $1,000 in purchases per quarter) and 1% cash back on all other purchases. Bank of America® Cash Rewards Credit Card for Students: Best for 0% Intro APR. While it’s unlikely she would be asked to co-sign for a card, because few if any card issuers accept co-signers, she might be asked to be on the hook for a car or personal loan. *Exclusions apply. This keeps you from spending recklessly and falling in a debt trap. Credit Cards for No Credit. Cash advance fees. Otherwise, applying for a card, no matter your credit, is pretty much the same – you need to make sure you have the right required credit, and you will be asked a series of questions on the application that will help the card issuer decide if you are a good credit risk. The Best Student Credit Cards for 2021. It does carry a secured credit card from their portfolio that is great for building or rebuilding credit, although it pales in comparison to the cards we’ve listed above, as it offers no rewards, minimal insurance, and has an annual fee. Also, it’s very difficult to be removed from an account as a co-signer, unlike an authorized user. No late fee on first late payment. Even though no credit history is required with this card, making it easier to get than other cards, you’ll want to make sure you are reasonably organized so that you pay in full and on time each month in order to build your credit. . And if you have a poor credit score, it’ll seriously affect your chances of getting a good mortgage rate in the future, for example. Enjoy Mastercard Platinum Benefits intended to make your life easier like Mastercard ID Theft Prevention™ and Master Rental®. For example, only 2 of the 11 student cards we surveyed offered a bonus worth more than $200, and one had a $50 sign-up bonus. Finally, student cards will sometimes have special features specific to the needs of college students. The offers that appear on this site are from companies from which CreditCards.com receives compensation. The thing with credit cards is they will often give you some incentive to use them over other payment methods, like small percentages of cash back on our purchases, or travel points or miles for every dollar you spend. *Exclusions Apply, Enjoy no annual fee and no foreign transaction fees, You can help build your credit with responsible use of a card like this, Pick the monthly due date that works best for you, Be automatically considered for a higher credit line in as little as 6 months, $0 fraud liability if your card is ever lost or stolen, Monitor your credit profile with the CreditWise® app, free for everyone. It’s a time when a lot of the decisions you make will affect you for the rest of your life (no pressure). Some really important decisions are related to personal finance â students loans, credit cards, credit scores, and, more down the line, mortgages, car loans, and 401ks. The best credit cards for college students typically offer cash back, rewards and other perks like low interest rates. Applicants with no credit who are military members, veterans and eligible family members. Though most student credit cards do not have annual fees, many rewards cards typically do. â The creditcardGenius algorithm, based on our Rating Methodology, calculates an estimated dollar value for all rewards and bonuses by combining typical monthly spending with well-researched reward point value estimates. But you don’t have to live with things the way they are. The Discover it Student Cash Back tops our list as the best credit card for students because of its rewards rates and special perks. From Bank of America’s extensive portfolio of credit cards, there are 2 that are really worth noticing. There's no minimum spending or maximum rewards. Plus, earn unlimited 1% cash back on all other purchases - automatically. Intro Offer: Unlimited Cashback Match - only from Discover. 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 12.99% - 21.99% applies. Maybe lose the card you have? Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of credit cards. Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Check the data at the top of this page and the bank's website for the most current information. as I can see here. Here are some frequently asked questions that will hopefully help to set things straight. Some credit card companies may require proof of independent income to show that you’ll be able to pay back what you charge to your card. If you don’t make sure of this, then her credit may not benefit. Bank information must be provided when submitting your deposit. Thatâs where student credit cards come in. No Social Security Number required for international students to apply. No annual fee: Student credit cards typically wonât charge an annual fee There are other potential benefits that may be worth considering, but only if you use the student credit card responsibly: Spread the cost of purchases : You can pay for large purchases up front and spread the cost by paying back the money you borrowed in monthly repayments. creditcardGenius is the only tool that compares 126+ features of credit cards using math-based ratings and rankings that respond to your needs, instantly. The lower your credit score, the higher the interest you’ll pay on your loans, making your monthly bills that much higher. It’s just imperative that as a college student, you’re on top of your spending and you know what it takes to stay on track financially. Take a look at our picks for best student credit cards, all of which come with no annual fee. No Annual Fee, earn cash back, and build your credit with responsible use. âTypically, student credit cards have much lower credit limits than other credit cards,â he says. A cousin of the Discover it Student Cash Back, the Discover it Student chrome offers many of the same features and perks: no credit history required, no annual fee, no APR changes for late payments, and “good grades rewards.”. Luckily, nearly all of the big banks in America offer a student credit card, but some really stand out of the crowd, offering both travel rewards and cash rewards student credit cards. If it’s her card, help her set up alerts so that she knows when she’s approaching her monthly limit. Since your first card will likely be your oldest credit account, having a student card that you can hang onto indefinitely can be a great decision. That means that if you buy a $100 item with your credit card and you only make your minimum payment (assuming your minimum payment was $10) you’ll be charged $1.50 in interest if your APR is 20% â for just that one month. The APR for purchases is unusually high. Rewards – Many credit cards, student cards included, offer rewards to the user. Typically, a student credit card has a low credit limit of up to Rs.15,000 as compared to other cards and is valid for 5 years. The Deserve EDU Mastercard is another great option to help build your credit history. Many of these cards are designed and marketed specifically for college students, and they may often include features tailored to their needs. Theyâre designed for people with little to no credit history, which is common among college students who havenât had many opportunities to establish credit yet. We’re taking a look at the best student credit cards, whether you’re looking to: Related: Pocket The Most Rewards Possible â Credit Cards With No Annual Fee. No annual fee. Set up a system in which she pays you the same time every month, like a bill. Also, the required credit will usually be lower for a student card, as well as the credit limit. Related: Pocket The Most Rewards Possible â Credit Cards With No Annual Fee. Here are some of the best student credit cards that waive the foreign transaction fees: As mentioned before, the world of credit cards can be intimidating. Luckily, nearly all of the big banks in America offer a student credit card, but some really stand out of the crowd, offering both travel rewards and cash rewards student credit cards. With a little research, you can find a range of student-centered credit cards with flexible credit requirements that can help you start building your credit profile. This cardâs meager reward rate isnât huge, but for an unsecured card thatâs available with no â¦ most student cards don’t have an annual fee. Discover will automatically match all the cash back you've earned at the end of your first year! Freeze It® on/off switch for your account that prevents new purchases, cash advances & balance transfers in seconds. Everyone has their own preferences and must-have features that they look for in a credit card. Editorial disclosure: All reviews are prepared by CreditCards.com staff. No international transaction fees on purchases abroad so you can travel with confidence. Save my name, email, and website in this browser for the next time I comment. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. Related: 5 Genius Ways To Use Your Credit Card Like A Pro. Pay on time to boost your cash back to a total of 1.25% for that month, Earn $5 per month for 12 months on Select Streaming Subscriptions when you pay on time. Here we’ll look at how to get your first credit card and how to understand the features of the card: When you’re ready to get your first credit card, do your homework. If you canât find a suitable store credit card for no credit, consider a normal credit card designed for people with limited or no credit history. If you don’t qualify for a student card, a secured credit card may be a better choice for you. Best Credit Card Offers, Sign-up Bonuses, and Deals For December 2020, Bank Of America Cash Rewards Credit Cards: Earn Plenty Of Cash Back For No Annual Fee, Credit Card Price Protection: What It Is, How It Works, And Who Offers It, Chase Amazon Rewards Visa Cards: Get Up To 5% Cash Back And A Free $70 Gift Card, most student cards will allow you to earn some rewards on your purchases, saving you money in the long run, and. You don't have a lot of choices when it comes to student credit cards. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. A no annual fee student credit card from BMO is a good way to start building a healthy credit history. The specific features of student cards can vary greatly. Griffin Miller is a personal finance writer at Bankrate, specializing in credit cards. Both cards don’t provide its cardholders with any credit card insurance coverage and have much more limited acceptance outside of the U.S. Related: Get Yourself One Of The Best Credit Cards For 2019. That’s double the interest! CreditCards.com Senior Editor Laura Mohammad writes, edits and coaches extensively on all things credit cards and works to bring you the most up-to-date analysis and advice. There are a number of moving parts to a credit card, for example: APR – The annual percentage rate is the interest you will be charged on balances carried from month to month. Apply online. Some don’t. Up to 1.5% cash back after making 12 on-time monthly payments, 1% cash back on eligible purchases right away, 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. When asked to pick the best credit card for students, our experts were torn between this card and the Discover it Student chrome. Or newcomers to Canada all secured cards offer the best fit for you that your history continues to.! 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