Credit cards for students can be a great way to build credit and earn rewards on everyday spending. However, it’s essential to choose a card that fits your lifestyle, with rewards that offer real value. Here’s a guide to the best student credit cards in 2024, focusing on those with valuable perks, no annual fees, and user-friendly terms for first-time cardholders.
Why Get a Student Credit Card?
Student credit cards are designed with features tailored to college students who are new to credit. The benefits of having a student credit card include:
- Building Credit: Using a student card responsibly is a good way to establish a credit history.
- Earning Rewards: Many student cards offer rewards on purchases, such as cash back, points, or miles.
- Learning Financial Responsibility: A credit card can teach budgeting and discipline if managed carefully.
Below, we’ll cover some of the top student credit cards in 2024, highlighting each card’s rewards and benefits.
1. Discover it® Student Cash Back
The Discover it® Student Cash Back card is popular for its high rewards potential, especially with no annual fee.
Key Features
- 5% Cash Back on Rotating Categories: Earn 5% cash back on categories that change each quarter (e.g., restaurants, gas stations) and 1% on all other purchases.
- Cash Back Match: Discover matches all cash back earned in your first year, doubling your rewards.
- No Annual Fee: This card is fee-free, making it ideal for students on a budget.
Ideal For
- Students who spend in rotating categories and can maximize the 5% cash back each quarter.
- Those who want a substantial rewards boost in their first year through Discover’s Cashback Match.
Apply for the Discover it® Student Cash Back
2. Chase Freedom® Student Credit Card
Chase’s Freedom® Student card offers a straightforward rewards program and easy access to cash back.
Key Features
- 1% Cash Back on All Purchases: Consistent rewards rate, no matter the category.
- $20 Good Standing Bonus: Earn $20 annually for keeping the account in good standing for the first five years.
- Credit Limit Increases: After five months of on-time payments, you may qualify for a higher credit limit.
- No Annual Fee: This card comes without an annual fee, a big plus for students.
Ideal For
- Students looking for a simple, hassle-free cash-back card without worrying about rotating categories.
- Those who want the opportunity for regular credit limit increases based on responsible use.
Apply for the Chase Freedom® Student Credit Card
3. Bank of America® Travel Rewards for Students
For students interested in earning travel rewards, the Bank of America® Travel Rewards card is a solid choice.
Key Features
- Unlimited 1.5 Points Per Dollar Spent: Points don’t expire and can be redeemed for travel purchases.
- No Foreign Transaction Fees: A great card for students studying abroad or traveling.
- Online Banking Tools: Access spending insights, budgeting tools, and more through the Bank of America mobile app.
- No Annual Fee: This travel rewards card is free to hold and use.
Ideal For
- Students who travel frequently or plan to study abroad and want to earn rewards toward travel expenses.
- Those looking for a straightforward rewards card with no rotating categories or limits on points.
Apply for the Bank of America® Travel Rewards for Students
4. Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne card is perfect for students who spend on dining and entertainment.
Key Features
- 3% Cash Back on Dining, Entertainment, and Grocery Stores: Generous rewards on popular spending categories for students.
- 1% Cash Back on All Other Purchases: Earn on everything else, making it versatile for various expenses.
- No Annual Fee and No Foreign Transaction Fees: Ideal for both domestic use and traveling abroad.
Ideal For
- Students who dine out or enjoy entertainment and want higher rewards in these categories.
- Those seeking a card with strong travel perks like no foreign transaction fees.
Apply for the Capital One SavorOne Student Cash Rewards Credit Card
5. Deserve® EDU Mastercard for Students
The Deserve® EDU Mastercard is a great option for international students or those without a Social Security number.
Key Features
- 1% Unlimited Cash Back: Earn cash back on all purchases, with no caps or expiration.
- No Annual Fee: No annual cost, which is ideal for budget-conscious students.
- Amazon Prime Student Offer: Free Amazon Prime Student subscription for one year.
- No SSN Required: International students can apply with valid identification (e.g., passport).
Ideal For
- International students who may not have a Social Security number but still want a way to build credit.
- Students who want additional perks like the Amazon Prime Student subscription.
Apply for the Deserve® EDU Mastercard
Tips for Choosing the Best Student Credit Card
Selecting the right credit card can be a bit overwhelming, so here are a few tips:
- Consider Your Spending Habits: Look for a card with rewards that match where you spend the most, like dining or entertainment.
- Look for No Annual Fees: As a student, it’s beneficial to choose a card with no annual fee to avoid extra costs.
- Aim to Pay Off the Balance Monthly: Avoid interest charges by paying your balance in full each month. This helps you build credit without accruing debt.
- Check for Student-Friendly Benefits: Many student cards offer extra perks, like grade-based rewards or bonuses for keeping your account in good standing.
Conclusion
A student credit card with rewards can be an excellent tool for managing finances and building credit. The cards listed here offer competitive benefits and minimal fees, making them well-suited for students looking to start their credit journey responsibly. Choose the card that best fits your spending habits and lifestyle, and you’ll be on your way to earning rewards while building your credit.
If you have any queries feel free to comment down below!
FAQs
What is the best student credit card with no annual fee?
The Discover it® Student Cash Back and Chase Freedom® Student Credit Card are excellent options, offering rewards without any annual fees.
Can international students get a student credit card?
Yes, cards like the Deserve® EDU Mastercard are designed for international students and don’t require a Social Security number.
How can I earn cash back as a student?
Many student credit cards offer cash back on purchases. Choose a card that rewards you for your most common expenses, like dining or groceries.
Will using a student credit card help me build credit?
Yes, as long as you make on-time payments and manage your spending, a student credit card can help establish a positive credit history.
