Best Student Credit Cards in 2024

The invention of credit cards has made our lives easier, but to get a credit card, you need some source of income. But nowadays, banks offer credit cards to beginners and students as well. These student credit cards are a great way to build your credit history. This credit history is important as it shows the banks and lenders that they can trust you enough to lend you a loan. There are several credit card options for students studying in the US. So, let’s see the best ones for this year.

Discover Cash Back Student Credit Card.

• This card offers 5% cash back on rotating categories each quarter, such as gas stations, grocery stores, restaurants, and Amazon, up to the quarterly maximum after enrollment. If you make any other purchases with this card, you will earn 1% cash back.
  
• For first-time buyers, when you get this card, there is no interest for the first six months. This could be very handy for students.
  
• The card has no annual fees, so students can benefit from this, which is a significant advantage for those who are on a tight budget.

Cash back	5%(Rotating)
APR	Zero for first 6 months then 19-24%
Annual Fee	No Annual fee
Cash back match	100% with no limit
Credit History	Not required
Best suitable for	Students, Beginners, First time credit card users

Discover matches all the cash back earned in the first year, effectively doubling the rewards for new cardholders. So, if you get $100 worth of cash back in a year, Discover will give you an extra $100. So you could turn $100 of cash back into $200. Or turn $200 cash back into $500. There is no limit to how much the amount discovered will match.

With numerous rewards and no credit history required, this card is a fantastic choice for students. It’s one of the easiest to get and perfect for learning to manage credit. Plus, you get a free credit score, making it ideal for those starting from scratch.

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Chase Freedom Rise Credit Card.

This Chase Freedom Credit Card is good for beginners and students as well.

• This card offers 1.5% cash back on all purchases, making it easy to accumulate rewards without worrying about rotating categories.
  
• After getting the card, if in the first three months you sign up for auto repayment, then you will get a $25 cash bonus.
  
• This card also doesn’t have any annual fees, so you can get it without much worry.
  
• After making five monthly payments on time within the first 10 months, cardholders may be eligible for a credit limit increase, which can help improve their credit score.

Cash back	1.5%
APR	18-24%
Annual Fee	No Annual fee
Bonus	$25
Credit History	Not required
Best suitable for	Students, Beginners, First time credit card users

This card is best for people who want to build their credit history while earning cash backs at the same time. If you want to get this card, then you can increase your chance of getting it by having a Chase bank account. Chase offers various cards for different purposes; if you want to take advantage of those cards in the future, then having a Chase bank account will be a good option for you.

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SavorOne Student Rewards card from Capital One

The Student Reward Card from Capital One is designed to help students build good credit habits.

• With this card, you earn unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores, plus 1% on all other purchases.
  
• Within the first three months of getting this card, if you spend $100, you get a $50 cash bonus.
  
• There are no annual fees on this card, so this card is a good option for students.
  
• If you are a foodie and eat out a lot then that 3% cash back on dining will give you lots of benefits. Plus there is a cash back for using streaming services as well.

Cash back	3% and 1%
APR	18-24%
Annual Fee	No Annual fee
Bonus	$50
Credit History	Required
Best suitable for	Students with credit history or Part time job, First time credit card users

Getting this card is not easy, you still need at least some established credit score to qualify to get this card. You need to show that you are enrolled in a part-time job at the university, and you have to provide your social security number or tax identification number.

This card has no foreign transaction fees. So if you travel a lot or want to do any of the semester outside of the US, then this card will be a handy companion for you.

This card requires a social security number, which makes it out of reach for many international students. Getting this card is difficult at the student level, but once you get it, there are lots of benefits.

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The Bank of America Travel Rewards Credit Card for Students

For students who travel frequently, the Bank of America Travel Rewards Credit Card for Students is an excellent choice.

• This card gives you 1.5 points for every $1 spent on all purchases. These points have no expiration, and you can keep them as long as your account is open with Bank of America.
  
• If you make at least $1000 in purchases in the first three months with this card, then you get 25,000 online bonus points. The 25,000 points can be redeemed for a $250 statement credit that you can use towards travel purchases. Basically, you get a 25% discount on your travel purchases up to $1000.
  
• This card also offers zero foreign transaction fees, which makes it ideal for students studying abroad.
  
• There’s no annual fee for this card as well, so students earn those rewards without incurring extra costs.

Cash back	1.5 points for every $1 spend
APR	18-24%
Annual Fee	No Annual fee
Bonus	Up to $250 (conditional)
Credit History	Required
Best suitable for	Students with credit history or Part time job, First time credit card users

This card also requires you to have a credit history. Everything else on this card is good. But if you qualify for this card, then definitely get one.

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How to choose the right student credit card?

Choosing the best student credit card depends on individual financial habits and goals. Here are some tips to help you make the right choice:.

You need to evaluate your spending habits

Figure out where you spend most of your money. If you spend a lot on dining out or groceries, a card that offers higher rewards in those categories might be beneficial.

You travel a lot

If you plan to study abroad or travel frequently, look for a card with no foreign transaction fees and travel rewards.

Check out the introductory offers

Many cards offer sign-up bonuses or cashback programs. These programs provide extra value in the first year and can help you manage some of your money during your student days.

Understanding the Terms and Conditions

Don’t just blindly get the card because it has many incentives you need. Before getting the card, read all the terms and conditions of the cards offered. I know these terms and conditions are long and written in legal language. But you can use ChatGPT to simplify those for you. Pay attention to the interest rates, fees, and repayment terms.

Responsible use of a credit card

Having a credit card is a big responsibility. If you use your credit card irresponsibly, then you will not even know when you got trapped in the credit card debt. So follow these practices while using the credit card.

Pay on time, and make the full payment

Just because you have a credit card doesn’t mean you have to spend reckless money. You have to use it like a debit card. Always pay the full amount of your bill before the due date to avoid late fees and negative impacts on your credit score. If you just pay the minimum amount every month, then you are on the path of the credit card debt trap.

Keep balances low

Try to use only a small portion of your credit limit. Using only 30% of your total credit limit is always a good practice. If you constantly use your full credit limit, then it can also affect your credit score. It will mean that you are a risky borrower. If occasionally you use the full credit limit and pay it off in full, then you will be fine.

Stay within your budget

Use your credit card for planned purchases that you know you can pay off each month. Avoid using it for impulse buys.

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Building Credit History

If you use a credit card responsibly, it will help build your credit history. It is crucial for future financial opportunities. If you use credit cards wisely, it has lots of benefits, and if you are reckless with your spending habits, then it is better for you to not get a credit card.

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