Student Credit Cards: The Smartest Way to Build Credit While Studying
Learn how student credit cards can help you establish a strong credit history while you're still in school. Discover the benefits of using a student credit card and how it can set you up for financial success after graduation.
Navigating the world of credit cards can be overwhelming, especially for students who are just starting to build their credit history. With numerous options available, it can be difficult to decide which card is the best fit for your needs and financial goals. In this article, we'll explore a variety of student credit card options from top brands like Capital One, Discover, 1st Financial Bank, Bank of America, and Chase, discussing their unique features, benefits, and rewards to help you make an informed decision.
Capital One: SavorOne Rewards for Students
Capital One offers an exclusive credit card for students, the SavorOne Rewards for Students card. With no impact on your credit score, students can see if they are pre-approved for this card that offers unlimited 3% cash back on dining, entertainment, popular streaming services, and grocery store purchases. With no annual fee and a new cardmember offer of a $50 cash bonus after spending $100 within the first three months, this card is an attractive option for students at any higher education institution. Additionally, there are no foreign transaction fees, and rewards don't expire for the life of the account.
Discover: Discover It® Student Cash Back
The Discover it® Student Cash Back card rewards students with 5% cash back on everyday purchases at different places each quarter, such as Amazon.com, grocery stores, restaurants, and gas stations. Plus, earn unlimited 1% cash back on all other purchases automatically. To sweeten the deal, Discover offers a Cashback Match at the end of your first year, doubling the cash back you've earned. Furthermore, rewards can be redeemed for cash in any amount, at any time, and can even be used instantly at Amazon.com checkout or with PayPal.
1st Financial Bank: The Student Credit Card
Designed to improve your financial future with each purchase, the Student Credit Card from 1st Financial Bank USA offers flexible payment options, instant cash access, and protection from scammers. With over 110 years of experience in helping people improve their financial futures, this bank offers a mobile app for easy payment and monitoring of spending. The card is accepted almost anywhere, making it a reliable option for students.
Bank of America: Bank of America® Travel Rewards Credit Card for Students
The Bank of America® Travel Rewards Credit Card for Students offers unlimited 1.5 points for every $1 spent on all purchases, with no annual fee or foreign transaction fees. New cardmembers can earn 25,000 online bonus points after making $1,000 in purchases within the first 90 days, redeemable for a $250 statement credit toward travel and dining purchases. Additionally, mobile banking and text alerts help you stay on top of your finances, and Preferred Rewards members can earn 25%-75% more points on every purchase.
Chase: Chase Freedom® Student Credit Card
With the Chase Freedom® Student Credit Card, students can earn cash back with a $50 bonus after their first purchase within the first three months. Additionally, cardholders receive 2,000 points (or $20) after each account anniversary year for the first five years, and 1% cash back on every purchase with no minimum to redeem. By making five monthly payments on time within 10 months of opening the account, students can earn a credit limit increase. Chase also offers Credit Journey, a suite of personalized insights and resources to help build, monitor, and protect your credit health.
Choosing the right student credit card depends on your individual needs, financial goals, and spending habits. By comparing the features, benefits, and rewards of the Capital One SavorOne Rewards for Students, Discover it® Student Cash Back, 1st Financial Bank Student Credit Card, Bank of America® Travel Rewards Credit Card for Students, and CHASE FREEDOM® STUDENT CREDIT CARD, you can make an informed decision and start building a strong credit history that will benefit you throughout your financial future.