Best Credit Cards for College Students in April 2024

Our top selections are credit cards with no annual fees, which can save students quite a bit of money. Student budgets are notoriously tight, so saving yourself annual fee payments can make a big difference when you are starting out.

What is a student credit card?

Student-specific credit cards are designed to help students build credit, especially when they have no credit history.

These credit cards for college students with no credit history provide the same benefits as standard credit cards, but they often have fewer incentives and lower credit limits.

Not all student credit cards expect you to be a student, but there are eligibility requirements that you will have to meet, including age. For example, you must be 18 years old to apply for a student credit card in your own name. If you do not have your own income, you must apply with a cosigner over the age of 21.

Why get a student credit card?

You might be considering a student credit card because you’re interested in benefits like cash-back rewards and travel rewards points, or are simply looking ahead.

There are many cautionary tales about students who fall behind on their minimum payments, rack up late fees or any other kind of fee, and dig themselves into a financial hole. However, when used correctly, a student credit card can help you establish a line of credit that can help you after graduation.

Why students should start building credit

• Applying for a loan or mortgage
  Whether you’re getting a loan to finance a car, applying for a mortgage on a house, or getting a loan for another reason, lenders will almost certainly look at your credit score and history to decide if they’re willing to accept your application. A good credit score can also help you keep interest rates low, meaning you’ll pay less.
• Renting an apartment
  When looking to rent an apartment, the landlord will likely look at your credit score to decide if you’ll be a trustworthy renter who will pay their rent on time.
• Paying for utilities
  Similarly to renting an apartment, utility companies look at your credit score and history to determine if they can trust you to pay your bill on time.
• Getting a job or starting a business
  Some employers require a credit check before they hire you, especially if you’re applying for a job in the finance world. Or if you’re looking to start a business post-grad, some creditors look at your personal credit history/score before you can begin establishing credit for your business.

How to choose a student card

When shopping for the best first credit card for students, one of the things you should look for is a plan that doesn’t saddle you with hefty fees like foreign transaction fees, balance transfer fees, annual fees, etc.

Plus, you want to look for creditors that are more forgiving, especially if you miss a payment. Finally, you want your money to work for you. If you already spend money on gas and food, why not find gas credit cards that give you money back?

Less-than-stellar credit card issuers can easily tempt unknowing students into taking a perilous financial plunge into deep debt, which is why students must understand things like credit scoring, card ratings, regular APR, billing cycles, interest rates, and more.

Choosing the right student credit card for you depends on what is most important to you, including:

Additionally, if you’re having difficulty deciding, the CardMatch tool can help match you with cards you’re likely to get approved for.

Making the most of your student credit card

College can be a transformative experience that allows you to think about your future and work towards your goals. For many young adults, excellent credit and rewards are often among them.

Applying for a student card can help you learn about good spending habits and how to build credit. The more responsible you are, the likelier you will be to qualify for better loans and other cards.

Students must understand how credit cards work and what responsible card use means.

Below are some tips that students can follow to help them avoid this debt spiral and build their credit responsibly:

Pay your credit card off every month

Your credit history depends on your payment history. Missing even one payment can set you back, so it’s important that you can afford monthly payments and aren’t overwhelmed. Paying your bill on time is a priority in building credit. If you tend to be forgetful, you can set up automatic payments to avoid missing due dates.

Don’t spend more than you have

Buying something expensive now and paying it off in time can be deceptive, especially when you want to go on a trip with friends or buy a new wardrobe. However, not paying an item off immediately means you’ll face high interest rates. It is important to note that debt can roll over quickly and can be very hard to dig yourself out of.

Don’t use your card too much

Even if you use your card responsibly, being too close to your credit limit can also impact your credit score. It’s best to keep your available credit below 30%.

Don’t have too many credit lines

It can be tempting to apply for multiple credit cards, but this can be detrimental to the credit you are trying to build. Besides, it can be easy to lose track of payment dates and credit limits, so it’s better to have one or just a few, especially if you’re new to credit.

Avoid fees, like annual fees

Some credit cards carry annual fees and other fees for things such as foreign transactions, but it might be better to stay away from these when you’re first starting out to avoid additional spending.

Applying for a student credit card

Applying for a student credit card is not complicated.

You typically need to provide some personal information, along with proof that you are currently enrolled in college and have income. Some credit cards are also available to non-students who meet credit requirements.

Here is what you need to know:

How to apply for a student card

One of the most important steps is making sure a credit card is the best one for your situation and that you meet the minimum requirements.

This gives you the best odds of being approved. Once you are satisfied with your selection, all you need to do is apply directly on their website. 

They will ask for personal information like:

• Your name
• Your address
• Your birthdate
• Your social security number (SSN)
• Your annual income
• Your monthly rent/expenses

Approval could either be immediate or in a few days by mail.

Applying with a co-signer

A co-signer tells your credit card issuer they will pay the bill if you cannot.

This allows students or those with poor credit to open a credit card account backed by the co-signers credit history and income. However, not every credit card offers this option, so it’s good to shop around.

What if you get denied?

Getting denied after applying for a student card could mean that you don’t have sufficient credit. However, you can ask the card issuer for an adverse action letter to go over the reasons you were denied.

A good step is to look at your credit report to see if there are any long-standing bills or accounts you didn’t open. Don’t apply for multiple cards, especially if you don’t meet their requirements. Remember, hard credit inquiries can bring your credit score down.

Student cards are useful for building your credit while you’re starting in life but don’t just dive headfirst into them without looking at your circumstances. They are only a good option if you can be fiscally responsible and pay your debts off in time. Otherwise, you could set yourself up for a very shaky start.

What to do with your student card after graduation

A college student credit card can be a great way to build your credit, but what do you do with it after graduating? 

You can keep using it. Just because you’re no longer a student doesn’t mean you have to ditch your student credit card. 

You can upgrade it. Many credit card issuers will let you switch your student account to another account, without having to close or open any new accounts. This can help keep the length of your credit history, an important factor in determining your credit score.

You can keep the account open but not use it. Keeping a credit card account open, especially if the card has no annual fee, can only help your credit score. Still make an occasional small purchase (and pay it off) to keep your account active.

You can get rid of it. If your student card charges an annual fee, you can’t upgrade it to a better card, and it doesn’t offer lucrative enough rewards to keep using it, you can close your student account after being approved for a new card.

Alternatives to student credit cards

Secured credit cards

Secured credit cards can be good for non-students or those who do not have a source of income. You must provide a security deposit, usually around $200 minimum, which is essentially your credit limit.

Balance transfer cards

Students with high-interest debt can transfer their balance to a balance transfer credit card with 0% APR.

Charge cards

Charge cards work like credit cards in the sense that they can help build your credit. Unlike credit cards, however, you’re not allowed to carry a balance on a charge card, you’re required to pay your credit card bill in full each month.

Debit cards

On the other hand, debit cards draw money from your bank account to cover a purchase. They don’t help you build credit, but they can offer a convenient way for students to pay for their purchases. Debit cards don’t require a credit history to qualify, only a bank account.

Rewards credit cards

If you’ve already established a good credit history and maintain a source of income, you may be able to qualify for a rewards credit card, travel credit card, or cash-back card.

How we selected our top cards for students

Your main goal with a student credit card is to build credit. It’s easy to get distracted by incentives and cash rewards, but they shouldn’t be your only deciding factor. We selected the best credit cards of 2024 for students based on several factors including rewards, APR, ease of use, and additional fees, among other things.

Related resources

• Before applying for a credit card,  check your credit score to know what cards you qualify for.
• Learn more about how credit cards work, including:
  What is the credit utilization ratio?
  How to build credit
  What is a good APR?
  What do credit card numbers mean?
  What is a good credit score?
  How does credit card interest work?