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5 types of great Student Credit Cards in 2021

student credit cards

Student Credit Cards

Student credit cards have long provided a method for young adults to develop credit in real time as they transition from adolescence to maturity. Lenders, on the other hand, were understandably wary of offering credit to young adults who were venturing out into the world for the first time and had no prior credit history or expertise managing their own finances. Annual fees, low credit limits, hefty APRs, and a barren wasteland of nothing where points, bonuses, and awards would ordinarily be found were all common features of student credit cards.

Despite being created and reserved only for students, the following cards can compete with all but the best mainstream student credit cards on the market – especially since none of the cards on our list include an annual charge.

Student Credit Cards

Look into it. Cash Back for Students

Discover it’s advantages Even for non-student credit cards, Student Cash Back would be amazing. Even if you’re well out of school and have gleaming, mint-condition credit, it’s one of the greatest mainstream cards you’ll discover. On rotating quarterly categories like grocery stores, gas, streaming services, and specific sites and stores like Target, Walmart, and Amazon, students get a full 5% cash back, which is near the industry maximum.
For comparison, Amazon charges the same 5% on their own Prime membership card. There is no annual charge and all non-category purchases still earn 1%.

Student Chrome is there to be discovered

Student Chrome is another choice from Discover as student credit cards. It’s also one of the greatest college cards, but it’s designed for a specific type of cardholder. While Student Cash Back offers excellent benefits in student credit cards, all but the most dedicated college students will find it difficult to keep up with quarterly activation in a variety of categories.

At petrol stations and eateries, including fast food and cafes, Student Chrome reduces the cash back from 5% to 2%. The reduced rate, on the other hand, buys simplicity, which most new cardholders are likely to require. There are no rotating categories or activation requirements, and you still get the same 1% on all other purchases that Student Cash Back cardholders enjoy.

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Capital One Quicksilver Rewards For Students

The Capital One Quicksilver Student Cash Rewards card (student credit cards) is even easier to use than the Discover it Student Chrome card. It charges a fixed rate of 1.5 percent on all purchases, regardless of what you buy or where you buy it. This makes it one of the best flat-rate cards available, and not only for students.

Citi Double Cash and Wells Fargo Active Cash both pay 2%. The Alliant Credit Union card gives 2.5 percent, but exclusively to Alliant Credit Union members, and there are some limits. Even for individuals with long and clean credit histories, 1.5 percent is the best you’ll get on a flat-rate card. You might also want to look into the Bank of America Unlimited Cash Rewards for Students, which offers 1.5 percent as well.

Student Cash Rewards from Capital One SavorOne

Chase Freedom Student gives student borrowers more cash back than even the finest flat-rate cards without the headache of shifting categories.

Chase Freedom Student offers significant points — up to 3% cash back — on the things that matter most to college students: dining, streaming services, entertainment, and groceries. All other purchases earn 1%, giving this one-of-a-kind card a best-of-both-worlds rewards structure that blends flat-rate convenience with category card payback.

student credit cards

Student who is pursuing freedom

Chase Freedom Student isn’t the finest flat-rate college card, with only 1% cash back, but it does come with a slew of extra benefits that few other student cards can match. The most obvious benefit is a sign-on bonus, which is practically unheard of in the world of college credit cards.

To get $50, all you have to do is make a single transaction within three months of receiving the card. For the next five years, you’ll also receive a $20 annual good standing incentive. Finally, after five months of on-time payments, students will receive a guaranteed credit limit increase, which will aid in the development of their young credit.

This article originally appeared on GOBankingRates.com5 Credit Cards That Are Great for Students


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