Top student credit cards of November 2022

Compare Bankrate’s top student credit cards

A closer look at the best credit cards for students

Discover it Student Cash Back: Best for rotating cash back bonus categories

• What we love about the Discover it Student Cash Back: Students can build credit, earn top-of-the-line rotating cash back rewards and take advantage of one of the best sign-up offers around. It’s rare to find a student credit card with a welcome offer, let alone the same offer available on rewards cards for people with good-to-excellent credit.
• Who this card is good for: Students looking to earn cash back in categories typically offered as part of Discover’s rotating cash back calendar — such as dining, online shopping and gas. Back-to-school shoppers who need to stock up on college supplies can also take advantage of an intro APR offer for six months from account opening (then a variable APR of 15.99 percent to 24.99 percent applies)
• Alternatives: If you’re looking for a simpler way to earn rewards, a flat-rate credit card like the Capital One Quicksilver Student Cash Rewards Credit Card or the Petal 2 “Cash Back, No Fees” Visa Credit Card could be easier to keep up with while still offering you consistent cash back on all of your purchases.

Read our full Discover it Student Cash Back review.

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Capital One Quicksilver Student Cash Rewards Credit Card: Best for flat-rate cash back

• What we love about the Capital One Quicksilver Student Cash Rewards Credit Card: The card’s 1.5 percent cash back on all purchases is one of the highest base rates available on a student card. This is also one of the few cards that offers more than 1 percent back on general purchases as well as bonus rewards in other categories — 5 percent cash back on hotels and rental cars booked through Capital One Travel.
• Who this card is good for: Student travelers looking for a hassle-free way to earn rewards on all purchases. Students who plan to study abroad or make online purchases with foreign merchants will also love that this card lets you avoid foreign transaction fees.
• Alternatives: If you typically spend more on food and entertainment than hotels and rental cars, the Capital One SavorOne Student Cash Rewards Credit Card is a good alternative thanks to its impressive rewards rate in popular categories like grocery stores, restaurants and streaming services.

Read our full Capital One Quicksilver Student Cash Rewards Credit Card review.

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Petal 2 “Cash Back, No Fees” Visa Credit Card: Best student starter card

• What we love about the Petal 2 “Cash Back, No Fees” Visa Credit Card: It has a relatively low barrier to entry and is accessible to students and other people with a limited credit history. And thanks to its great flat rewards rate of up to 1.5 percent cash back (after 12 on-time monthly payments) and a mobile app packed with helpful features, this card could be a good long-term option even after you’ve graduated.
• Who this card is good for: People with no credit or a limited credit history who want to avoid a security deposit and annual fees. Just note that you may need to look elsewhere if you have a history of late payments or bankruptcy.
• Alternatives: If you can’t qualify for an unsecured student rewards credit card, the Discover it® Secured Credit Card is a good option that will help you build credit and earn rewards in the popular everyday categories of gas and restaurants.

Read our full Petal 2 “Cash Back, No Fees” Visa Credit Card review.

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Capital One SavorOne Student Cash Rewards Credit Card: Best overall student credit card

• What we love about the Capital One SavorOne Student Cash Rewards Credit Card: This card offers the same great cash back rate and has many of the same features and benefits as the non-student version of the SavorOne. That means students can build credit without sacrificing rewards on food, entertainment and more.
• Who this card is good for: Students looking for a single card that earns rewards on everyday staples like groceries and dining as well as extras like concert tickets, travel and streaming services.
• Alternatives: If you’re looking for even more category variety or spend heavily outside the food and entertainment category, you might have an easier time racking up rewards with a rotating cash back card like the Discover it Student Cash Back Card.

Read our full Capital One SavorOne Student Cash Rewards Credit Card review.

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Discover it Student chrome: Best for gas, dining, and large purchases

• What we love about the Discover it Student Chrome: Instead of forcing you to deal with rotating categories, this Discover card lets you earn cash back year round on gas station purchases and dining — two popular spending categories for students.
• Who this card is good for: Students who want to focus on building credit while also earning cash back on everyday essentials. And if you need to make a large purchase, this card’s intro APR offer can give you time to avoid interest charges.
• Alternatives: You may be able to earn more cash back with a flat-rate card like the Petal 2 or Capital One Quicksilver Student card, especially if you tend to spend a lot of money in categories other than gas and dining, such as groceries.

Read our full Discover it Student chrome review.

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Chase Freedom Student credit card: Best student card for benefits

• What we love about the Chase Freedom Student credit card: This card’s features encourage students to develop good financial habits. You can get a credit limit increase after making five monthly on-time payments within 10 months of account opening (if you meet the score requirements) and earn a $20 reward each year on your account anniversary if your account is in good standing (for up to five years). It’s also a bit safer for beginners since its APR is just 17.99 percent variable — far lower than the rate you’ll find on most student cards.
• Who this card is good for: Credit-building students more interested in being rewarded for their solid financial habits than for spending money.
• Alternatives: The Petal 2 is another great credit-building card that rewards good financial habits, boosting your rewards rate from 1 percent back to up to 1.5 percent back after you make your first 12 on-time monthly payments.

Read our full Chase Freedom Student credit card review.

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Petal 1 “No Annual Fee” Visa Credit Card: Best for local cash back offers

• What we love about the Petal 1 “No Annual Fee” Visa Credit Card: The Petal 1 mobile app comes loaded with credit-building tools like access to your credit score, a calculator to see how much interest you may face based on your balance and a tool that can help you avoid paying for subscriptions you no longer use. There’s also a map that shows local offers that earn 2 percent to 10 percent cash back at select merchants.
• Who this card is good for: Credit builders who prefer an unsecured credit card and could benefit from an approval process that factors in alternative data like their income, bill payment and banking history in addition to their credit report.
• Alternatives: If you have negative marks on your credit report and struggle to qualify for student cards, there are a number of secured and unsecured credit cards for bad credit that have more lenient credit score requirements and can help you build your credit.

Read our full Petal 1 “No Annual Fee” Visa Credit Card review.

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Deserve EDU Mastercard for Students: Best for students with no credit history

• What we love about the Deserve EDU Mastercard: This card has a nice perk for students: Cardholders who spend $500 in their first three billing cycles will receive a credit for a one-year Amazon Prime Student subscription, valued at $59. It’s also accessible for international students as it doesn’t require a social security number to apply.
• Who this card is good for: Students who need a more accessible card. For example, international students may have an easier time qualifying for this card, as there is no minimum credit score requirement and a Social Security number isn’t required for the application.
• Alternatives: If you want to boost our rewards earnings, the Discover it Student Cash Back card might be a better choice for you. Cardholders are rewarded with 5 percent cash back on up to $1,500 in combined purchases per quarter (then 1 percent, enrollment required) in rotating categories—whereas EDU Mastercard holders earn just 1 percent cash back on all purchases.

Read our full Deserve EDU Mastercard for Students review.

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What are student credit cards and how do they work?

If you’re enrolled in college and have little or no credit history, a student credit card can help. Like traditional credit cards, student cards give you access to a line of credit you can use to make purchases. How you use the card is then reported to one or more of the three major credit bureaus.

If you pay your bills on time and don’t use too much of your available credit, you can begin to build up a positive credit history and grow your credit score. This will go a long way toward showing creditors that you know how to use credit responsibly. Once you graduate, the hard work you’ve put in building and maintaining good credit can pay off in a number of ways, as you’ll likely qualify for more rewarding credit cards and have an easier time financing a car loan or mortgage at an affordable rate.

Why building credit is important for college students

A credit card is one of the best ways to build credit, but it can be hard to get approved for one if you have limited or no credit history. Without access to credit, you’re more likely to face numerous financial challenges.

Student credit cards give you a chance to get a head start on building credit, which can help you overcome some of these obstacles. Here are the benefits that come with using a student card:

• Access to funds: A student credit card gives you access to a line of credit you can use to make purchases. As long as you pay off those purchases in full by your card’s due date, you’ll avoid interest charges. This can be especially useful when returning back to school in the fall or in case of an emergency like your car or computer needing repairs.
• Building credit: If you start to build good credit as a college student, you’ll have an easier time borrowing money later in life. Having a long history of good credit not only improves your chances of getting approved for large loans like a mortgage or auto loan, but also unlocks better interest rates that can help save you a lot of money over time.
• Developing good financial habits: When you use your student credit card responsibly, you’re practicing the good credit habits that show creditors you can be trusted to pay back the money you borrow. Many student cards also come with features that can improve your financial literacy skills.
• Get an apartment: The good credit habits you practice now can boost your credit score, which will make it easier to rent an apartment in the future. Landlords perform credit checks to see if you have a good credit history, which helps determine how likely you are to make on-time payments.
• Employer credit check: Employers may perform credit inquiries, looking at a modified version of your credit report that shows some of your financial data, including outstanding balances, any bankruptcies and available credit. Depending on the job you apply for, late payments and signs of financial distress could impact your chances of being hired.
• Home and auto insurance: A poor credit score could lead to you paying thousands of dollars more in insurance costs than people with stellar credit. According to 2022 rate data from Quadrant Information Services, you’ll pay an average of $3,002 per year for full insurance coverage if you have a poor credit history — 93 percent more than drivers with excellent credit. It gets worse if you’re a homeowner with a poor credit history: You’re likely to pay 150 percent more for homeowners insurance than someone with excellent credit.

Pros and cons of student credit cards

How to choose the best student credit card

Picking the right credit card as a college student isn’t always an easy task. When evaluating different student credit cards, here are a few questions to ask yourself:

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  Do I qualify for a student credit card?

  Credit cards have a minimum age requirement. You have to be at least 18 to get your own credit card, but your chances of getting one before you’re 21 are slim unless you have a cosigner or can show a steady income as a student (note that this could include income from grants and scholarships, but not from loans). Student credit cards are also typically reserved for people in college who have little or no credit history. If you have a history of making late payments or have defaulted on a credit card in the past, your best option may be a credit card for bad credit.

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  What’s my credit score?

  Your credit score does more than show lenders your creditworthiness. It also shows you the credit cards you are qualified for. Knowing your credit score can help you avoid applying for a credit card you have little chance of getting approved for or a card you’re overqualified for and isn’t worth your time.

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  Will I have to put down a security deposit?

  If you’re new to credit cards, you should know the difference between secured and unsecured credit cards. If you can’t qualify for an unsecured credit card, you may have to settle for a secured card, which requires a refundable security deposit. This deposit acts as your credit limit, though you can’t use it to make payments. Instead, issuers hold on to it in case you are unable to pay off your debt (and will return it to you when you close your account or upgrade to an unsecured card).

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  What features matter most to me?

  Your student card can do more for you than help you build credit. For example, some will have student card perks like free credit score access or the chance to earn cash back on your purchases. Or if you plan to study or travel abroad, you might like a credit card that charges no foreign transaction fees.

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  What are the fees?

  Each credit card will come with its own set of credit card fees. It may be impossible to avoid all of them, but picking the right card for you and using it responsibly can help you avoid many of these charges. Typical fees to watch out for include annual fees, late fees, cash advance fees and balance transfer fees.

Still unsure if a student credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.

How students can avoid credit card debt

The average American holds over $5,000 in credit card debt. To make matters worse, once you’ve fallen into debt, it’s not easy getting out. You may not be able to control all the factors that get people into debt, but there are some moves you can make that can help you avoid it or be ready to manage it efficiently. Here are five tips to help you with credit card debt.

• Choose the right card for you. Your credit history, finances and lifestyle will all play a role in helping you narrow down your choices for a student credit card. If possible, pick a card that has a low ongoing APR in case you end up needing to carry a balance.
• Have a budget. If you know how to budget, you can avoid some of the common missteps that lead to debt.
• Pay on time. Late payments wind up as negative marks on your credit report and can come with late fees as well as trigger penalty APRs, which could lead to more debt.
• Pay off your balance in full whenever possible. Paying more than the minimum payment due and even trying to pay in full each month will help you avoid excessive interest charges that push people deep into credit card debt.
• Try to avoid cash advances. A cash advance creates an unnecessary burden on your finances, thanks to excessively high interest rates that begin to add on to your debt the moment you withdraw funds.

Alternatives to student credit cards

Whether you struggle to gain access to credit or don’t want to deal with the disadvantages of using a credit card, there are a number of alternative options out there that can help.

Secured credit cards

If you’re searching for a way to build your credit with a lower barrier to entry, secured credit cards provide a good alternative. The best secured credit cards have much more lenient requirements. Some don’t require you to even have a credit score when you apply.

Credit-builder loans

For some, a credit-builder loan is one of the best ways to build credit without a credit card. Since you’ll have to pay off the amount of the loan before you actually get to use the loan amount, you not only build credit but also put money aside in savings. Credit-builder loans are accessible to many people, even those with bad credit. According to a study done by the Consumer Financial Protection Bureau, this alternative is best for people with limited or no credit history.

Authorized user

When you’re an authorized user on the account of a parent, partner or trusted friend, their credit habits can impact your credit profile. If the primary account holder has a long history of good credit behavior, their credit history can help improve a thin credit file, while their credit limit can help improve your credit utilization. Each of these factors can help boost your credit score.

Checking account

A checking account won’t help you grow your credit score, but how you use it will go a long way to preparing you to manage funds efficiently. And once you’re a pro at handling your own finances, you’ll be ready for a credit card. Your bank may even have its own line of credit products. If so, your loyalty and good financial habits could make it easier to gain access to credit.

How to apply for a student credit card

If you’ve picked out the credit card that best suits your student lifestyle, then the next step is to get it. When you’re ready, here’s how to apply for a student credit card.

1. Check your credit score. Determining your credit score will let you know which cards you are likely to be approved for.
2. Go to the issuer’s website and find the card’s application. Once you know what card you like, simply head to the issuer’s website and find the application for that card. You may be able to check if you prequalify for the card before you apply (with no impact to your credit score), which can give you some extra peace of mind about submitting an application.
3. Fill out the application. Be sure to have all of your application information ready before getting started. Besides your name, address and identifying information, you’ll need to state your income, which can be more than what you earn at a job if you are over 21. This includes a partner’s income or any allowance, as long as you have reasonable access to the funds.
4. Receive the application decision. Sometimes issuers will send out an instant decision, but it could also take a few days. If your application is denied, the issuer is legally required to send a letter explaining the reason for denial.
5. Have your budget and repayment plan ready. Responsible credit use starts with a stable budget and a concrete plan to repay what you spend. Make note of your payment due date and your minimum payment amount so you can always pay on time.

Additional reviews and research

Need to do more studying before you make a decision? No worries. Choosing the right credit card as a college student is a big deal. Check out these resources from Bankrate.

• All student credit card reviews
• All reviews of credit cards for people without any credit history

Learn more: Easiest credit cards to get in 2022

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