August 2023’s Best Student Credit Cards

August 2023's Best Student Credit Cards

Best Student Credit Cards: Rewards, Benefits, and More

Are you a student without established credit? Don’t worry, there are still plenty of credit card options available for you. Not only can you qualify for these cards, but they can also help you build and improve your credit score. And once you’ve established a good credit history, you can easily upgrade to one of the best credit cards that offer lucrative rewards and benefits.

Many of the larger banks provide student credit cards that are specifically tailored to meet the needs of students. Unlike secured credit cards, which require a deposit, these student credit cards often do not need a deposit. They offer rewards for your spending, along with welcome bonuses, travel and purchase protections, and incentives for paying on time.

Best Student Credit Cards

Here are some of the best student credit cards available:

Here’s a closer look at each of these student credit cards:

Capital One SavorOne Student Cash Rewards Credit Card

The Capital One SavorOne Student Cash Rewards Credit Card is perfect for students who spend a lot on dining, groceries, entertainment, and eligible streaming services. You can earn an impressive 3% cash back in these categories without any limits, and 1% cash back on all other purchases.

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Additionally, until November 14, 2024, cardholders can enjoy unlimited 10% cash back on Uber and Uber Eats. Plus, they can activate a complimentary Uber One membership, which offers perks like $0 delivery fees on eligible Uber Eats orders, up to 5% back on Uber rides, up to 10% back with Uber Eats, and more.

The card also provides a $50 cash bonus when you spend $100 on purchases within the first 3 months of account opening. Along with these rewards, the Capital One SavorOne Student Cash Rewards Credit Card offers impressive benefits such as price protection, extended warranty, car rental coverage, roadside dispatch, travel accident insurance, and complimentary concierge services.

Capital One Quicksilver Student Cash Rewards Credit Card

The Capital One Quicksilver Student Cash Rewards Credit Card is the go-to option for students who prefer straightforward cash back on all purchases. With a $50 cash bonus, earned once you spend $100 on purchases within the first 3 months of account opening, this card offers simplicity and generous rewards.

You can earn 1.5% cash back on all eligible purchases with no earning caps. Similar to the Capital One SavorOne card, the Quicksilver Student card also provides valuable benefits like price protection, extended warranty, car rental coverage, roadside dispatch, travel accident insurance, and complimentary concierge services.

Bank of America Customized Cash Rewards Credit Card for Students

The Bank of America Customized Cash Rewards Credit Card for Students offers one of the most generous welcome bonuses for student credit cards. New cardholders can earn a $200 cash rewards bonus after making $1,000 in purchases within the first 90 days of account opening.

One unique feature of this card is the ability to customize the category in which you earn the most rewards. You can choose to earn 3% cash back on gas, online shopping, dining, travel, drugstores, or home improvement/furnishings on up to $2,500 in combined spending each quarter. Combined with the 2% categories of groceries and wholesale clubs, all other purchases earn 1%.

The Bank of America Customized Cash Rewards Credit Card for Students also offers a 0% intro APR for your first 18 billing cycles on purchases and balance transfers made within the first 60 days of account opening (then a variable APR applies). This feature can be useful for students with upfront expenses like dorm decor or textbooks.

Bank of America Unlimited Cash Rewards Credit Card for Students

For students who prefer a simple rewards structure without having to track bonus categories, the Bank of America Unlimited Cash Rewards Credit Card for Students is an excellent choice. Along with a welcome bonus of $200 cash rewards after spending $1,000 on purchases within the first 90 days of account opening, this card earns a flat 1.5% cash back on all purchases, with no earning caps.

Similar to the Bank of America Customized Cash Rewards Credit Card for Students, new cardholders also enjoy a 0% intro APR for their first 18 billing cycles on purchases and balance transfers made within the first 60 days of account opening (then a variable APR applies). However, note that this card charges foreign transaction fees, so it may not be suitable for students who frequently travel abroad.

Bank of America Travel Rewards Credit Card for Students

If you’re a student who loves to travel, especially overseas, the Bank of America Travel Rewards Credit Card for Students is the perfect choice. It offers a welcome bonus of 25,000 online bonus points after spending $1,000 on purchases within the first 90 days of account opening. These points can be redeemed as a $250 statement credit toward travel and dining purchases.

With this card, you earn 1.5 points per dollar on all purchases, with no specific categories to track. Each point is worth 1 cent when redeemed for statement credits towards travel purchases, including airfare, hotels, rental cars, campgrounds, and even certain tourist attractions. Furthermore, you’ll have a 0% intro APR for your first 18 billing cycles on purchases and balance transfers made within the first 60 days of account opening (then a variable APR applies). The card also does not charge foreign transaction fees.

BankAmericard Credit Card for Students

If you have high-interest credit card debt or need to make big purchases, like school expenses, the BankAmericard Credit Card for Students offers one of the longest zero-interest credit card offers available. New cardholders will enjoy a 0% intro APR for the first 21 billing cycles on purchases and balance transfers made within 60 days of account opening (then a variable APR applies).

Keep in mind that the BankAmericard Credit Card for Students does not offer a welcome bonus or rewards for spending. However, if you are specifically looking for an extended 0% intro APR period, this card could be a great fit.

Discover it Student Cash Back

The Discover it Student Cash Back credit card rewards cardholders with 5% cash back in rotating categories each quarter on up to $1,500 in combined spending (then 1%). Discover’s rotating categories often include popular merchants and types of purchases like grocery stores, restaurants, and Amazon. Additionally, all other purchases earn 1% cash back.

One unique feature of this card is that Discover will match all the cash back you’ve earned at the end of your first year. Furthermore, you’ll enjoy a 0% intro APR for six months on purchases (then a variable APR applies), as well as a $50 statement credit if you refer a friend and they are approved. Late payment fees are waived for the first occurrence.

Discover it Student Chrome

The Discover it Student Chrome card offers similar benefits to the Discover it Student Cash Back card. However, instead of rotating categories, this card earns 2% cash back at gas stations and restaurants on up to $1,000 in combined spending each quarter (then 1%). All other purchases earn a flat 1% cash back.

While the spending capacity on the 2% categories is relatively low, for students who can maximize this bonus, it can add an additional $20 per quarter. However, if you prefer better rewards across the board or don’t spend much in these categories, you may want to consider a different card. For a detailed comparison of Discover’s student cards, check out our guide.

Petal 2 “Cash Back, No Fees” Visa Credit Card

Though not specifically a student credit card, the Petal 2 “Cash Back, No Fees” Visa Credit Card is an excellent option for young adults with limited or no credit history. The card issuer, WebBank, evaluates factors beyond traditional credit scores, such as banking history, income, and savings, for approval. As a result, this card can help boost your credit score considerably.

With the Petal 2 card, you can earn 1% cash back on eligible purchases, which increases to 1.25% after making six on-time payments and further rises to 1.5% after 12 months of paying on time. Additionally, the card provides bonus cash back (up to 10%) at select merchants and has no fees, including foreign transaction fees and late payment fees. However, note that it does not offer balance transfers or cash advances.

These student credit cards offer a range of benefits and rewards, allowing you to make the most of your spending while building credit. Choose the card that aligns with your lifestyle and financial needs, and take advantage of the opportunities they provide. With responsible use, you can pave the way for a brighter financial future while enjoying the perks of being a student.

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