Below are our staff picks for 2019's best credit cards for students. These cards offer competitive APR's and numerous perks geared toward those enrolled in higher education. Our reviews follow strict editorial guidelines and are updated regularly.
INTRO OFFER: Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Good Grades Rewards: $20 statement credit each school year your GPA is 3.0 or higher for up to the next 5 years.
No annual fee. No late fee on first late payment. No APR change for paying late.
Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Freeze It® on/off switch for your account that prevents new purchases, cash advances & balance transfers in seconds.
The credit card options for college students looking to build credit are sometimes limited, especially once you eliminate predatory fee-harvesting cards from the mix. That's why our staff recommends just a small handful of cards to students, summarized in the table below. if you see a card that appeals to you, simply click the card name to visit its official issuer website.
Given that few students have robust credit histories, your best bet for qualifying for a credit card as a student are those cards specifically designed for students. These cards can be obtained with no or limited credit history and often provide student-specific perks.
Student credit cards can be a great way to build your credit history and learn about managing debt. The earlier you begin, the better off you’ll be down the road. But building a credit history is only helpful if you build it the right way, so here are five tips to help you on your credit journey.
1. Read the terms carefully
These days, there’s a tutorial for just about anything online — including your credit card terms and conditions. Reading the fine print is rarely fun, but it can help save you a lot of heartache — and money, and credit score points — to become familiar with the terms of your credit card long before you start using it.
For example, some student cards charge an annual fee, even if you never use it. This can end up being expensive and it isn’t necessary. Others charge you very high interest, which can cost you hundreds more in charges every year if you don’t know about the grace period for avoiding interest.
2. Always pay well before your due date
Your payment history is the biggest factor in your credit score calculations, so it can not only help you build good credit quickly, but it can also cause a lot of damage in a short period of time. Even one missed payment can cause your credit score to tank, so always be sure to make at least your minimum payment well before your due date every month.
For those consumers who have trouble remembering when various bills are due, mobile banking and budgeting apps can be great tools. Most apps will let you set custom alerts for upcoming bills, as well as set up automatic bill paying that takes care of the work for you.
3. Don’t overdo it
Just like staying up and partying all night can lead to regrets the next day, using your card in excess can cause a financial hangover. Don’t overspend on your student credit card – you’ll need to pay every penny back eventually. Before using your card to make a purchase, ask two questions: Can you pay cash for this instead? and, Do you really need the item?
A good rule of thumb is to never charge more than you can repay before your next due date. By always paying your balance in full, you can avoid interest fees than the to interest-fee grace period offered by most credit cards for new purchases.
4. Avoid cash advances
Although most things can be paid for directly with your credit card, some occasions simply call for cash. But while it may be tempting to give into convenience and use your credit card at an ATM, avoid making a cash advance if at all possible.
Why? Because credit card cash advances are expensive. Not only will each cash advance likely come with a cash advance fee of 3% to 5% of the total amount, but cash advances also tend to be charged much higher APRs than regular purchases. Plus, there’s no grace period for cash advances, so you’ll start accruing interest as soon as it posts to your account.
5. Take your debts seriously
Get into the habit of treating debt like a valuable tool — but one to use sparingly. Respect the power of credit and the responsibility that goes along with it. If you establish good credit habits now, you’ll be less likely to wind up in over your head in the future.
Photo source: accurateleands.com
Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
The information on this page was reviewed for accuracy on .
About the Author
Brittney Mayer is a contributing editor for CardRates.com, where she uses her extensive research background to write comprehensive consumer guides and in-depth company profiles. Leveraging her vast knowledge of the financial industry, Brittney’s work can be found on websites such as MarketWatch, US News & World Report, NBC News, Kiplinger, National Foundation for Credit Counseling, TheSimpleDollar.com, BadCredit.org, CreditSoup.com, and CreditCards.com, among others. Brittney specializes in translating complex financial jargon and ideas into readable, actionable advice on lending best practices.
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