Because students are just getting started with credit cards, the best options have a low interest rate, features that help them build credit, low or no annual fees, and few other fees. While rewards aren't the most important thing we consider in putting together this list, they're definitely a plus. Getting a credit card as a student gives you an opportunity to get a high-quality card with little or no credit history, as well as a chance to build credit before you leave school.
Best Credit Cards for Students of May 2021
- Best Overall, Best for Avoiding Fees: Discover it® Chrome for Students
- Best With a Low APR, Best for Earning Rewards: Wells Fargo Cash Back College℠
- Best for Studying Abroad: Bank of America® Travel Rewards for Students
- Best for Learning About Credit: Journey Student Rewards from Capital One
Best Overall, Best for Avoiding Fees : Discover it® Chrome for Students
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Discover will match all the cash back you've earned at the end of your first year, automatically.
| Regular APR (%) | 17.99% variable |
| Annual Fee | $0 |
| INTRO PURCHASE APR | 0% for 6 Months |
| Rewards Earning Rate | Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases. |
| Foreign transaction fee (%) | 0% |
- Why We Chose This Card:
- Pros & Cons:
- Highlights:
This card has solid rewards, a relatively low APR, a great welcome bonus, and a bonus for cardholders who get good grades, making it an all-around great credit card for students. Discover also stands out from the rest because it waives your first late fee. Of course, you should strive to make payments on time, but it's nice to know you won't have to pay an extra fee for a one-time mistake. This card doesn’t charge a foreign transaction fee, either (though the network has limited international acceptance compared to Visa and Mastercard, according to credit industry watchers Nilson Report).
Available to those with fair credit, which makes this a good starter card
First late payment fee is waived
First-year cash-back earnings will be doubled for a generous and unconventional bonus
Annual $20 reward for maintaining good grades
Bonus rewards categories have quarterly earning limits
Discover card acceptance may vary compared to Visa and Mastercard
- Get $20 statement credit each school year your GPA is 3.0 or higher for up to the next five years.
- Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter.
- Plus, earn unlimited 1% cash back on all other purchases – automatically.
- Cashback Match - Discover will automatically match all the cash back you've earned at the end of your first year. There's no limit to how much they'll match.
Read the full Discover it® Chrome for Students Credit Card review
Best With a Low APR, Best for Earning Rewards : Wells Fargo Cash Back College℠
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| Regular APR (%) | 11.15% - 21.15% variable |
| Annual Fee | $0 |
| INTRO PURCHASE APR | 0% for 6 Months |
| Rewards Earning Rate | 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months. 1% cash rewards for each $1 spent on virtually all other purchases with your card. |
| Foreign transaction fee (%) | 3% |
- Why We Chose This Card:
- Pros & Cons:
- Highlights:
We love this card for its consistent 1% cash-back reward rate, bonus rewards during your first six months, and a relatively low APR. There’s a nice little 0% purchase APR promotion for new cardholders, too. You can earn 3% cash back on up to $2,500 of gas, grocery, and drugstore purchases during your first six months with the card, and 1% back on everything else. While this card has a relatively low ongoing APR, paying double-digit interest rates on debt will hurt, so avoid carrying a balance if possible. Note: You must have an existing bank account at Wells Fargo to apply online.
No annual fee
Offers rewards on everyday purchases, unlike many other student cards
0% APR promotional offers that are rare for a student card
Must have a Wells Fargo account to apply
Rewards earning rate drops after six months
Foreign transaction fee means using this card overseas costs extra
- Build credit history while you’re in college.
- 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months. Enjoy 1% cash rewards for other purchases.
- Access your FICO Credit Score.
- Existing Wells Fargo relationship needed to apply online.
Read the full Wells Fargo Cash Back College℠ Credit Card review
Best for Studying Abroad : Bank of America® Travel Rewards for Students
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25,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening - which can be redeemed for a $250 statement credit toward travel purchases.
| Regular APR (%) | 14.99% - 22.99% variable |
| Annual Fee | $0 |
| INTRO PURCHASE APR | 0% for 12 Billing Cycles |
| Rewards Earning Rate | Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere. |
| Foreign transaction fee (%) | 0% |
- Why We Chose This Card:
- Pros & Cons:
- Highlights:
With no annual fee, no fee for making transactions in another country, and the wide reach of the Visa card network, the Bank of America Travel Rewards for Students card is a no-brainer for students planning to spend time outside the U.S. The flat rewards-earning rate makes it simple to get points on everyday spending, no matter where you are.
Nice welcome bonus for a student card
Rewards are good for a flat-rate card, plus there’s no limit on how much you can
Long 0% purchase APR deal for a student card
No foreign transaction fee (typical for a travel card, but not a given among student cards)
You may need good credit to qualify
Cash back redemption option cuts point value nearly in half
- Earn 25,000 points if you make at least $1,000 in purchases in the first 90 days of your account opening.
- Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points.
- Preferred Rewards members earn 25%-75% more points on every purchase That means you could earn up to 2.62 points for every $1 you spend, everywhere, every time.
Read the full Bank of America® Travel Rewards for Students Credit Card review
Best for Learning About Credit : Journey Student Rewards from Capital One
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| Regular APR (%) | 26.99% variable |
| Annual Fee | $0 |
| Rewards Earning Rate | Earn 1% Cash Back on all purchases. 0.25% Cash Back bonus on the cash back you earn each month you pay on time. Earn $5 per month for 12 months on Select Streaming Subscriptions when you pay on time. *Exclusions Apply |
| Foreign transaction fee (%) | 0% |
- Why We Chose This Card:
- Pros & Cons:
- Highlights:
This card has a great combination of simple rewards and credit-building tools. You can get a higher credit limit after making your first six monthly payments on time, and as long as you keep your balance low, the extra available credit can help improve your credit score. Making on-time payments also lets you earn higher rewards that month—1.25% cash back on your purchases, instead of the standard 1%. You can track how these good behaviors affect your credit score using Capital One's CreditWise tool.
Higher rewards rate and credit limit available if you make on-time payments
Few fees, which helps keep costs low
Rewards that are easy to earn and redeem
No bonus or 0% introductory APR offer for new cardholders
High APR if you carry a balance
- Earn 1% cash back on all your purchases. Pay on time to boost your cash back to a total of 1.25% for that month.
- $0 annual fee.
- With Credit Steps your account will be reviewed for a credit limit increase after making your first 6 monthly payments on time.
- Enjoy unlimited access to your credit score and tools to help you monitor your credit profile with CreditWise.
Read the full Journey Student Rewards from Capital One Credit Card review
FAQs
What Makes a Good Student Credit Card?
Student credit cards are a bit different than other first credit cards, because credit card issuers tend to give better offers to students than non-students in similar financial situations. For example, students can get an unsecured card with rewards, no annual fee, and low fees overall—such a product doesn’t really exist for non-students with no credit history. Some credit cards even offer special discounts geared toward students.
Why Should College Students Have a Credit Card?
Having a credit card in college allows you to start building credit early, and length of credit history is an important factor in credit scores (and one you can’t quickly improve.) It’s also easier to qualify for your first credit card while you’re still a student, because of the student-specific offers out there. Here's another overview of our picks for the best student credit cards:
Compare The Best Student Credit Cards
| Best Student Credit Cards | |
|---|---|
| Credit Card | Annual Fee |
| Discover it® Chrome for Students
Best Overall |
$0 |
| Wells Fargo Cash Back College
Best With a Low APR |
$0 |
| Bank of America Travel Rewards for Students
Best for Studying Abroad |
$0 |
| Journey Student Rewards from Capital One
Best for Learning About CreditBest for Learning About Credit |
$0 |
How Can You Get a Student Credit Card?
Getting a credit card as a student doesn’t require pre-established credit. However, if you’re younger than 21 years, you must show you have enough independent income to support making credit card payments. Otherwise, you need a co-signer who’s older than 21 and has income.
Can a Student Have Multiple Credit Cards?
A student can have multiple credit cards. However, it makes overcharging too easy. One card is enough to build credit. If getting more than one card, pace yourself by waiting a few months to see how you handle your current card(s).
Tips for Using Your Credit Card Responsibly
- Charge only what you can afford to repay by the time the bill comes due.
- Pay your bill on time.
- Use as little of your available credit as possible.
- Avoid cash advances. They carry hefty fees and start accruing interest immediately.
Can I Pay Tuition & School Expenses With a Credit Card?
While your school might allow you to pay tuition with a credit card, it often comes with a service charge—not to mention the interest costs you’ll accrue if you don’t immediately pay off your credit card balance.
However, for textbooks and other regular purchases, you can pay these costs with a credit card, earn rewards (if your card offers them), and pay off the balance. You might even qualify for a card with a 0% APR period on purchases, which may give you the flexibility to pay off your start-of-term expenses over time.
Warning
Since both tuition and school supplies can get expensive, be careful that you don’t max out your limit or come close to hitting it. Using more than 30% of your available credit limit will hurt your credit score. (The less of your available credit you use, the better.)
What Happens To Your Student Credit Card After Graduation?
Your credit card company will let you keep your card after you’re no longer a student, and it might even allow you to “upgrade” to the non-student version of your card. Check with your card company to get the details.
Whatever you do, don’t close the card if it doesn’t have an annual fee. Keeping your oldest credit card open for a long time will help you establish a good credit history.
Methodology
At The Balance, it's our mission to give you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
Our reviews are always impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive.
What We Score
In general, people care most about interest rate, annual fee, and rewards when choosing a credit card. Because people getting student credit cards are very new to the product, we focus more on average annual percentage rate (APR) and fees. Ideally, students will avoid carrying a balance or incurring fees, but in the event they slip up, it helps to have a card that doesn't slam them with high costs.
Some of those costs we look at besides APR include the late fee, whether or not the card company waives the fee for a first late payment, the recommended minimum credit score, and a foreign transaction fee. This is especially important for students who spend time in other countries. On that note: We also look at the network a credit card uses, to determine how widely accepted the card will be.
Important
According to the Nilson Report, more merchants (domestically and internationally) accept Visa and Mastercard than Discover, and those three have greater acceptance than American Express.
Other Things We Consider
Beyond interest, fees, credit-building features, and rewards, we also look at all credit cards' customer service features and anything that makes life a little easier while students are learning about credit, like access to a free credit score or credit report alerts. You can read more about everything we evaluate in our full methodology.