1.Chase Freedom Rise®
Chase
- 1.5%Cash back on all purchases
Earn a $25 statement credit for setting up automatic payments within the first three months.
Earn 1.5% cash back on all purchases.
25.49% Variable APR
The Chase Freedom Rise® stands out as the top choice because it is specifically designed for individuals new to credit, offering a straightforward 1.5% cash back on all purchases while helping users build their credit history.
Pros:
- No annual fee
- Helps build credit history
Cons:
- Low cash back rate
- Limited rewards structure
2.Capital One Savor Student Cash Rewards Credit Card
Capital One
- 3%Cash back on dining, entertainment, popular streaming services, and grocery stores
- 1%Cash back on all other purchases
Earn a $50 cash bonus after you spend $100 on purchases within the first three months.
Earn unlimited 3% cash back on dining, entertainment, popular streaming services, and at grocery stores.
18.49%-28.49% Variable APR
What sets the Capital One Savor Student Cash Rewards Credit Card apart is its generous 3% cash back on dining and entertainment, making it an excellent choice for students who frequently spend in these categories.
Pros:
- High rewards on dining and entertainment
- No annual fee
Cons:
- Higher APR range
- Limited to student applicants
- 1.5%Cash back on every purchase
Earn a $50 cash bonus after you spend $100 on purchases within the first three months.
Earn unlimited 1.5% cash back on every purchase.
18.74%-28.74% Variable APR
The standout feature here is the straightforward cash back structure of the Capital One Quicksilver Student Cash Rewards Credit Card, making it ideal for students who prefer simplicity in earning rewards.
Pros:
- Simple cash back structure
- No annual fee
Cons:
- Lower rewards rate compared to other cards
- Higher APR range
4.Bank of America® Travel Rewards credit card for Students
Bank of America
- 1.5 pointsPoints per $1 spent on all purchases
Earn 25,000 online bonus points after spending $1,000 in purchases in the first 90 days.
Earn unlimited 1.5 points per $1 spent on all purchases.
17.49%-27.49% Variable APR
This card shines for its travel rewards, offering 1.5 points per dollar spent on all purchases, making it a great option for students who travel frequently and want to earn rewards without an annual fee.
Pros:
- No annual fee
- Good for travel rewards
Cons:
- Requires spending to earn bonus points
- Limited to travel-related rewards
5.Discover it® Student Cash Back
Discover
- 5%Cash back on rotating quarterly categories
- 1%Cash back on all other purchases
Discover automatically matches all the cash back you earn at the end of your first year.
Earn 5% cash back on rotating quarterly categories and 1% on all other purchases.
16.49%-25.49% Variable APR
A key differentiator is the unique Cashback Match feature, which effectively doubles the cash back earned in the first year, making the Discover it® Student Cash Back card an excellent choice for students looking to maximize their rewards.
Pros:
- High cash back on rotating categories
- Cashback Match in the first year
Cons:
- Requires activation for bonus categories
- Variable cash back rates
6.Firstcard® Secured Credit Builder Card
Firstcard
- 15%Cashback at partner merchants
- 1%Unlimited cashback on all eligible purchases
N/A
Earn up to 15% cashback at partner merchants.
0%
The Firstcard® Secured Credit Builder Card is a unique option for those looking to build credit, offering up to 15% cashback at partner merchants while maintaining a low monthly fee.
Pros:
- Helps build credit
- Cashback rewards
Cons:
- Monthly fee
- Limited to secured card users
Final Words
When selecting the best credit card for your needs as a college student, prioritize options that cater to your financial goals, such as low fees and rewards. Take time to compare the available choices to ensure you make an informed decision that supports your journey toward building a solid credit history.
Frequently Asked Questions
The Chase Freedom Rise® card offers a welcome bonus of $25 statement credit for setting up automatic payments within the first three months. Additionally, it allows you to earn 1.5% cash back on all purchases, making it an excellent choice for building credit while earning rewards.
With the Capital One Savor Student Cash Rewards Credit Card, you can earn unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery stores. Plus, you'll receive a welcome bonus of $50 cash bonus after you spend $100 on purchases within the first three months.
The Capital One Quicksilver Student Cash Rewards Credit Card earns unlimited 1.5% cash back on every purchase. You'll also benefit from a welcome bonus of $50 cash bonus after you spend $100 on purchases within the first three months.
Many student credit cards come with no annual fees, making them budget-friendly options for young adults. However, it's essential to check the terms for any potential fees related to late payments or cash advances.
When selecting a credit card, consider factors such as rewards structure, fees, and your spending habits. Look for cards that offer cash back or rewards on categories you frequently use, and ensure they have no annual fees if you're on a tight budget.
To enhance your approval chances, maintain a steady income, keep your credit utilization low, and ensure you have a positive credit history, even if it's minimal. Additionally, consider applying for cards designed specifically for students, as they often have more lenient requirements.
The application process for student credit cards typically involves filling out an online form where you'll provide personal information, income details, and possibly your Social Security number. Once submitted, you'll usually receive a decision within minutes, but it may take longer in some cases.
