If you are a student or someone with no credit, you might be considering a credit card to help you build a good credit history. Make sure you get the best card with our guide to the six best credit cards for students.
How Can A Credit Card Help You?
Building a good credit history is essential for your financial health. Good credit allows you to access loans but can also help you qualify for other services like cellular phones, car rentals and even getting a job.
Starting early with the right starter credit card can make your life much easier down the road. As long as you make on-time payments and stay below your limit you will be on your way to a credit score of 690 or higher.
What to Look for in a Student Card
Starter cards often come with interest rates that are steep and credit limits are low. Here are some tips to look out for to find a great student credit card.
- No annual fee
- A path to better credit cards with the same issuer
- Reports to all three credit bureaus
- Travel-friendly features
- Rewards programs
The Six Best Credit Cards for Students
1. Discover it Student Cash Back
This card offers excellent rewards rates on quarterly bonus categories upon activation. No FICO history is required. There is no annual fee, and the intro APR is 0% on purchases for 6 months, with a regular ARP of 12.99% to 21.99% variable APR
2. American Express Cash Magnet Card
This card has a $0 annual fee and an introductory APR of 0% on purchases for 15 months, along with a simple flat-rate cashback rewards program. This card is especially useful for students who can use their AmEx and Nova credit history from overseas
3. Discover it Student Chrome
Similar to the Discover it student cashback this card offers a 0% APR introductory rate and $0 annual fee. You also will not need a FICO history. This card’s rewards program is not as generous, but it is designed for students and has a lot of student-friendly features.
4. Discover it Secured
This is a good card for those looking to quickly progress to better credit cards. With a $0 annual fee, you will be required to secure the card with a $200 deposit. However, you can quickly get upgraded to an unsecured card and get your deposit back without having to close your account. This card also earns rewards, which is very rare for secured cards.
5. Deserve EDU Mastercard for Students
This card is great for students who have no credit history and no social security number. This card uses its own underwriting processes and considers applications on alternative factors. This card has a $0 annual fee which is rare given its application requirements. Students will also get 1% cashback on purchases and a 12-month amazon prime membership
6. Journey Student Rewards from Capital One
This card also offers a $0 annual fee but does have a higher APR at 21.99%. With this card, you will earn 1% cashback on purchases and if you pay on time you will get a boost to 1.25% cashback for that month. If you make five monthly payments on time you will be eligible for a limit increase.
Your New Credit Card
Having a credit card is essential to building a good credit history. If you follow our guide you will know what to look for, as well as knowing the best credit cards for students.
If you found this article useful check out the rest of our finance blog.