The Ultimate Guide to Credit Cards
Tuesday, March 19, 2024

9 Best Credit Cards for Students With No Income (March 2024)

Credit Cards For Students With No Income
Brittney Mayer

Written by: Brittney Mayer

Brittney Mayer
Brittney Mayer

Brittney is a Credit Strategist and Finance Expert who has spent years honing her knowledge of the credit industry both personally and professionally. Brittney applies her more than a decade of research experience to crafting in-depth consumer guides designed to help CardRates readers make better, more informed financial decisions.

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Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Reviewed by: Ashley Fricker

Ashley Fricker
Ashley Fricker

Ashley Fricker has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. Her credit card commentary is featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Ashley holds a bachelor's degree in multimedia journalism from Florida Atlantic University.

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Advertiser Disclosure

As exciting a time as college can be, it can also be a stressful one, and not simply due to the exams. Part of what makes college a less-than-carefree experience is that the average college student is typically broke. Indeed, without any real skills — that’s what you’re in college to learn, after all — the income opportunities for a college student aren’t exactly lucrative.

And a lack of income can be a pain for more than just the obvious reasons (like a diet of nothing but mac and cheese). Not having an income will also impact your ability to obtain and establish credit, putting you at a financial disadvantage after graduation.

Thankfully, one skill you learned in college can help you here: research. Opportunities to build credit as a student are out there, you just have to know where to find them.

How It Works | Student Cards | Secured Cards | Prepaid Cards

Students with No Income Need Cosigners to Get Credit

Once upon a time, a stack of bright, shiny credit card offers would grace your mailbox just about the moment you turned 18, opening the world of consumer credit to young people everywhere. For better or worse, those days are history — and the CARD Act of 2009 is responsible for their demise.

Designed to enact a range of protections for consumers, such as mandating rate increase alerts, the CARD Act also introduced new restrictions on when and how credit card companies can send offers to young people.

One example is the minimum age for obtaining a credit card, which was originally set at 18. Thanks to the CARD Act, individual credit card applicants must be at least 21 years of age unless they meet specific conditions.

Chart of Issuers Allowing Cosigners

In particular, consumers between the ages of 18 and 21 must have a verifiable income source — beyond that monthly “stipend” from your folks — to qualify for a credit card. This is to ensure you have a reasonable means of paying down your balance, as racking up debt with no way to repay it isn’t good for you or your credit card issuer.

For the most part, the only way to avoid the income requirement for credit card applicants under the age of 21 (or, really, any age, as most issuers will prefer you to have an income) is to apply with a qualified cosigner.

This means someone over the age of 21, who has a good credit score and a well-established credit profile. Since not all card issuers allow cosigners, you’ll have to choose carefully.

Additionally, before you run off and start asking relatives to cosign your credit card application, you should understand the implications. Agreeing to cosign someone’s debt could have potentially serious consequences, particularly if the primary applicant doesn’t have a steady income source.

Essentially, cosigners act as guarantors for the line of credit and, thus, will be responsible for repaying the debt should the primary borrower be unable to do so — and issuers aren’t shy about hounding the cosigner for repayment if it comes to that.

Additionally, the card will show up on the credit reports of both the primary cardholder and the cosigner. This means any negative events — like missed payments or, worse, default — will impact the credit score of both parties. Not only can this mean you have poor credit before you even turn 21, but it can also tank the good credit of your cosigner.

Student Cards Can Be Easier to Obtain

While you can’t even think about getting your own credit card without an income or cosigner until you turn 21, obtaining a new line of credit won’t be a picnic at any age if you don’t have money coming in. Even with a modest income, without an established credit history, most credit card issuers will still consider you to be a risky bet.

On the plus side, a variety of issuers are willing to take that bet. With a little research, you can find a range of student-centered credit cards with flexible credit requirements that can help you start building your credit profile. You don’t have to sacrifice perks, either. Many student cards will also let you earn cash back rewards on your purchases, including our favorites below.

Discover it® Student Cash Back Review

at Discover Card'ssecure website

STUDENT RATING

★★★★★
4.8

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
  • Redeem your rewards for cash at any time.
  • No credit score required to apply.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • No annual fee and build your credit with responsible use.
  • 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.
  • Terms and conditions apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 6 months
10.99% Intro APR for 6 months
18.24% - 27.24% Variable APR
$0
Fair/New to Credit

STUDENT RATING

★★★★★
4.7

OVERALL RATING

  • Earn unlimited 1.5% cash back on every purchase, every day
  • Early Spend Bonus: Earn $50 when you spend $100 in the first three months
  • Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
  • Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
  • Enjoy no annual fee, foreign transaction fees, or hidden fees
  • Lock your card in the Capital One Mobile app if it's misplaced, lost or stolen
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
19.99% - 29.99% (Variable)
$0
Average, Fair, Limited
Discover it® Student Chrome Review

at Discover Card'ssecure website

STUDENT RATING

★★★★★
4.7

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Redeem your rewards for cash at any time.
  • No credit score required to apply.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • No annual fee and build your credit with responsible use.
  • 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 18.24% - 27.24% applies.
  • Terms and conditions apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 6 months
10.99% Intro APR for 6 months
18.24% - 27.24% Variable APR
$0
Fair/New to Credit

+See More Student Cards

When comparing student cards, it’s important to understand exactly how your new card will work. This includes understanding the specific interest rates you’ll be charged, as different types of transactions may charge different rates. You’ll also want to determine any applicable fees, such as annual fees and late fees, as well as the various transaction fees, like balance transfer or foreign transaction fees.

Secured Credit Cards May Only Require a Deposit

Arguably the easiest credit card to get, secured cards require an initial deposit to open your account. That deposit acts as collateral against potential default, meaning if you become seriously delinquent (more than 180 days late), the issuer can use your deposit to cover your outstanding balance. This results in lower risk to the issuer, and, thus, looser credit requirements for the applicant.

The nature of secured cards also makes them a lower risk for cosigners, which is good because secured cards are not immune to the CARD Act requirements, so you’ll still need to show income or have a cosigner if you’re under 21. A limited credit history will be less important, however, as secured credit cards, such as the expert-rated options on our list, tend to have more flexible credit requirements — some cards won’t even require a credit check.

Secured Chime Credit Builder Visa® Credit Card Review

at the issuer'ssecure website

SECURED RATING

★★★★★
4.9

OVERALL RATING

4.5/5.0
  • No credit check to apply
  • Adjustable credit limit based on what you transfer from your Chime Checking account to the secured account
  • No interest* or annual fees
  • Chime Checking Account and qualifying direct deposit of $200 or more required to apply. See official application, terms, and details link below.
  • The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.
  • *Out-of-network ATM withdrawal fees may apply. See here for details.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
$0
None
OpenSky® Secured Visa® Credit Card Review

at Capital Bank N.A.'ssecure website

SECURED RATING

★★★★★
4.8

OVERALL RATING

  • No credit check to apply. Zero credit risk to apply!
  • Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
  • Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months, no additional deposit required!
  • Get free monthly access to your FICO score in our mobile application
  • Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
  • Fund your card with a low $200 refundable security deposit to get a $200 credit line
  • Apply in less than 5 minutes with our mobile first application
  • Choose the due date that fits your schedule with flexible payment dates
  • Fund your security deposit over 60 days with the option to make partial payments
  • Join over 1.2 million cardholders who’ve used OpenSky to build their credit
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
25.64% (variable)
$35
Poor
Discover it® Secured Credit Card Review

at Discover Card'ssecure website

SECURED RATING

★★★★★
4.7

OVERALL RATING

  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit history.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
10.99% Intro APR for 6 months
28.24% Variable APR
$0
New/Rebuilding

+See More Secured Cards

For a secured credit card, your initial deposit is more than simply collateral. The size of your deposit will also determine the size of your available credit line — i.e., your credit limit — typically at a rate of 90% to 100% of your deposit, up to the card’s maximum. If you can’t afford a large deposit initially, most cards will allow you to add to your deposit over time.

Prepaid Cards Don’t Require Approval

Offering all the shopping perks of a credit card — including the ability to make online purchases — prepaid cards aren’t actually associated with a consumer credit line, but are, instead, prepaid by the cardholder before use. Not only does this mean your lack of credit history won’t be an issue, it also means the CARD Act won’t be a problem, either — income or no income.

In addition to being usable pretty much anywhere credit is accepted, prepaid cards also have a few features your credit card doesn’t, including the ability to accept direct deposits. Individual features (and fees) typically vary by card, so compare your options before making a selection. You can start with our expert-rated options to explore the market.

Discover® Cashback Debit Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
4.9

OVERALL RATING

  • Cashback – Earn 1% cash back on up to $3,000 in debit card purchases each month
  • No. Fees. Period. That means you won’t be charged an account fee on our Cashback Debit account.
  • Early Pay – Get your paycheck up to two days early with no charge
  • No Credit Impact - You can apply without affecting your credit score.
  • Fraud Protection - You’re never responsible for unauthorized debit card purchases. If you suspect someone else has used your debit card without your permission, let us know.
  • Member FDIC
  • Fee-free overdraft protection
  • No minimum opening deposit and no minimum balance
  • Add cash into your account at Walmart stores nationwide
  • Cash access at over 60,000 no-fee ATMs nationwide
  • 100% US-based customer service available 24/7
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
$0
No Credit Needed
Chime® Checking Account Review

at the issuer'ssecure website

EXPERT'S RATING

★★★★★
4.9

OVERALL RATING

4.1/5.0
  • Your Chime Checking Account comes with a Chime Visa® debit card, no monthly fees or maintenance fees.
  • Avoid out-of-network ATM fees and access to 60,000+ fee-free ATMs¹ — more than the top 3 national banks combined!
  • Direct deposits arrive up to 2 days early.²
  • Disclosures: Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
  • ¹Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
  • ²Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
$0
Not applicable
Brink’s Armored™ Account Review

at Netspend'ssecure website

EXPERT'S RATING

★★★★★
4.8

OVERALL RATING

  • Brink’s knows Security! 24/7 access to a suite of security benefits to help keep your account armored.
  • Get access to over 100,000 Brink’s Money ATMs.
  • Get paid faster than a paper check with direct deposit.
  • Add funds to your Brink’s Armored Account and use Brinks Armored debit card anywhere Debit Mastercard is accepted.
  • Account opening is subject to registration and ID verification. Terms & fees Apply. Deposit Account is established by Pathward®, N.A., Member FDIC.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
N/A
Variable Monthly Fees
Not applicable

+See More Prepaid Cards

The fact that prepaid cards aren’t associated with a credit line can be helpful for those with troubled or nonexistent credit profiles, but it isn’t all good news. The same way your credit has no impact on your ability to obtain a prepaid card, your prepaid card will have no impact on your credit.

In other words, prepaid cards can’t be used to establish, rebuild, or repair your credit reports or scores. So, if you’re only looking for a way to make easy purchases, a prepaid card can work. If you want purchasing power and credit-building credit reporting, stick with an unsecured or secured credit card.

Only Charge What You Can Afford to Repay

Despite the nightmares of showing up to your final in your birthday suit, college can be a great deal of fun. But, like many things in life, getting the most out of your time at college will also require a great deal of hard work.

Of course, of all the lessons you’ll likely learn in college, some of the most important won’t occur within the walls of a classroom. No, some of your key discoveries will be made through trial — and through error.

You can reduce the impact of many of those hard lessons with the right bit of research, and that applies to your financial lessons, as well. As the old saying goes, “forewarned is forearmed.”

In particular, understand the importance of your credit report and score, including the factors that influence your credit score calculation. This will ensure you have the skills and knowledge to use your new card wisely, allowing you to come out of college well-prepared to face the next stage of your financial journey.

Advertiser Disclosure

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