Best Student Credit Cards: If you are an undergraduate, you are aware of the struggles it takes managing your finances while you’re trying to balance your social, academic as well as other costs.
Did you know that having the appropriate credit card could help you establish credit while saving cash? Sure, you’ve heard that correct!
If you have a student credit card You can accrue cashback rewards, points and discount on many purchase, and at the same time, build your credit score which is beneficial for the future.
However, with the many options that are available on the market it is difficult to select the right option.
Do not worry, we’ve prepared for you. In this article, we will review the best credit cards for students which offer great deals and rewards.
Best Student Credit Cards: Top Picks
Below are a few of the most popular credit cards for students: credit cards to look into:
Discover it Student Cash Back
Discover It Student Cash Back is a great choice for students wanting to earn rewards and cashback as they build credit.
Earn cashback of 5% on changing categories, such as food, gas, restaurant, Amazon.com, and more as well as 1percent cashback on any other purchase.
Additionally, Discover will match all your cashback earned by the close of your first year.
Citi Rewards+ Student Card
This Citi Rewards+ Student Credit Card an exclusive card which rounds the points you earn on each purchase up to the nearest to ten. So, for example, spending $ 24 on a purchase can get you ten points, not only 24.
Furthermore, you’ll get 2x points at gasoline stations and supermarkets starting at $6,000 for the duration of the year. You can also earn 1x points for all other purchases.
Journey Student Rewards at Capital One
Journey Student Rewards by Capital One is an ideal choice for those who wish to improve their credit score and earn reward points. It is possible to earn 1percent cashback on your purchases. The cashback increases to 1.25 percent if you make your bills on the due date.
In addition, there’s an annual fee and there are no fee for foreign transactions.
Bank of America Cash Rewards Credit Card for Students
The Bank of America Cash Rewards Credit Card Student is a fantastic choice for students looking to earn cashback on a variety of purchase.
You can earn 3% cashback on a category of your choice such as gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.
Furthermore, you’ll receive 2% cashback when you purchase Wholesale clubs, groceries, and other items as well as 1% cashback on any other purchase.
Capital One Secured Mastercard
The Capital One Secured Mastercard is an ideal option for those with no credit history or have bad credit. This card will establish credit history by making timely payments while keeping the balance at a low level.
You can also boost your credit limit simply by making your first five monthly installments at the right the same date.
How to Choose the Best Student Credit Cards?
The right student credit card could be challenging, but selecting the card best suited to your needs financially and has goals is essential. Below are some things to consider prior to you apply for credit cards:
Rewards and Benefits
Choose a card with rewards, cashback or discounts when you purchase frequently. There are cards that offer bonus or welcome deals that will allow you to gain more points.
Interest Rates and Fees
It is important to study the fine print, and comprehend the fees, interest rates and penalties that are associated with the card. Find a card that has a rates of low interest and without fee for foreign transactions or annual fees.
Take a look at the credit limit on the card and be sure the limit is compatible with your budget. Avoid applying for a credit card that has a large credit limit if you are unable to control your spending and wind being in financial trouble.
Keep your ratio of credit utilization in check is crucial to ensure an excellent credit score.
Credit Score Requirements
The majority of student credit cards are designed to suit people who have zero credit or less credit. They have low credit score requirements.
Certain cards, however, may need a better amount of income or credit score in order to be eligible. Make sure you meet the criteria before making an application for a credit card.
Think about the company that issued your card as well as their standing in the field of assistance and service to customers. Find a business which offers online account management including fraud protection as well as 24/7 support for customers.
Utilizing a credit card for students is an excellent way to earn credit score, accrue rewards points, as well as also save on purchase.
If you are looking for the most suitable student credit card take into account the benefits and rewards in addition to fees and interest rates in addition to credit limit, scores requirements, as well as the credit card issuer’s credibility.
Discover it Student Cash back, Citi Rewards+ Student Card The Journey Student Rewards card by Capital One, Bank of America Cash Rewards Credit Card for Students along with Capital One Secured Mastercard are several of the most popular student credit cards to think about.
Don’t forget that having a credit card is a responsibility and it’s crucial to manage the card wisely, and to avoid spending too much.
If you make timely payments and keeping your balance at a low and maintaining a great credit score, you will build a solid credit record which can be beneficial in the future.