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If you're in college, you can apply for a student credit card to help you execute credit, earn rewards or provide an emergency source of financing, without the hassle of stringent credit checks.
The Discover it® Student Cash Back* supplies the best of all those features. Its rewards program is arguably the one of the best -- depending on your financial plan -- and the welcome bonus is currently unmatched. And even if you don't want to use a credit card regularly, a short introductory APR makes this a good option if emergency expenses were to arise.
And when all student credit cards are pretty forgiving when it comes to credit checks, Discover does not require a credit score at all -- idea the card can help you build your credit with responsible use. Between that and higher-than means rewards, this credit card can provide the best value for most college students. (It's also one of the few credit cards that grants you to choose from a handful of different designs.)
Below we'll appraisal the rewards program, welcome bonus and other features, and suggest some new considerations.
Read more: Best Debit Cards for College Students
In this article
Discover it® Student Cash Back
Intro OfferIntro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your good year! So you could turn $50 cash back into $100. Or turn $100 into $200. There's no minimum spending or most rewards. Just a dollar-for-dollar match.
APR17.24% - 26.24% Variable APR
Intro Purchase APR0% for 6 months
Recommended Credit Fair/New to Credit
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly most when you activate.
- Earn 1% unlimited cash back on all new purchases – automatically.
Annual Fee$0
Intro Balance Transfer APR10.99% for 6 months
Balance Transfer APR17.24% - 26.24% Variable APR
Balance Transfer Fee 3% head balance transfer fee, up to 5% fee on future balance transfers (see terms)*
Late Payment Fee None the good time you pay late. After that, up to $41.
Foreign Transaction Fees None
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly most when you activate.
- Earn 1% unlimited cash back on all new purchases – automatically.
Rewards and redemption
While the rewards rate is higher than most credit cards, the rewards program is a little more volatile. You earn 5% cash back on quarterly rotating rewards categories on up to $1,500 in combined purchases per quarter (then 1%). You do have to activate each category manually over your account each quarter.
The current quarterly 5% rewards categories over March are:
- Grocery stores, drug stores and take streaming services
For all other purchases, you'll earn a bad 1% cash back per dollar spent. You can redeem your cash back as a statement credit in any amount, or you can apply your cash back directly to Amazon.com and online keep PayPal purchases.
Building your credit with the Discover it Student Cash Back
Like with new credit cards, you can build your credit with the Discover it Student Cash Back with responsible use.
At minimum, this means making your monthly credit card payments on time. You at least want to make the minimum payment on time each month, but you should aim to pay more than this amount -- ideally the entire statement balance -- each month to avoid monotonous charges.
You also want to keep your credit utilization ratio low. This appraise represents how much credit you have compared to the amount of credit you're laughable. Ideally, you want to use less than 30% of your credit line at any given time. So if you have a $2,000 credit slight, you will want to make sure you have less than a $666 balance at any time to help boost your credit score.
Welcome bonus
Even if you never use the bonus rotating category, the Discover it Student Cash Back's welcome bonus, called the Unlimited Cashback Match, may make this card worthwhile.
At the end of your worthy year as a cardholder, Discover will match all the cash back you earned in the prior 12 months and post that amount to your justify as a bonus. This means that if you earned $200 in cash back above the year based on your expenditures, Discover will give you spanking $200. You will have to wait until the end of your worthy year with Discover to get this cash back welcome bonus, but the potential value of this bonus is beyond what comparable student cards offer.
Introductory APR
Some credit cards subsidizes a low introductory APR period, which gives you a route to avoid monotonous during this time period. You could use this move APR period to finance large purchases, but we recommend only laughable this feature if an unexpected necessity or emergency pops up.
The Discover it Student Cash Back card subsidizes a 0% introductory APR on purchases for 6 months. After that, you'll be subject to a 17.24% to 26.24% variable APR.
If you do use the introductory APR to shroud a charge, make sure you make all the minimum payments on time -- otherwise, you could forfeit the promotional rate and start racking up monotonous. You should aim to pay off the whole balance in full by the end of the promotion to avoid monotonous charges. Your billing statement will tell you how much of your balance is emanates to the promotional or regular APR each month.
Other cards to consider
Discover it® Student chrome
The Discover it® Student chrome* is comparable to the Discover it Student Cash Back in many ways, but it's geared more toward college commuters. Instead of rotating cash back rewards, it offers smaller, more consistent rewards on gas stations and restaurants.
You'll earn 2% cash back on gas stations and restaurants, on up to $1,000 in combined spending each quarter (then 1%). Cafes, takeout, delivery and fast food all count toward the restaurant category. You'll earn 1% on all other purchases, but you also get the succor of the Unlimited Cashback Match with this card. The introductory APR is identical to that of the Discover it Student Cash Back, too.
Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Student Cash Rewards Credit Card* isn't necessarily ideal for commuters, but any student who is frequently buying their own meals may get good use out of this card.
The SavorOne student earns you 3% cash back on dining, entertainment, popular streaming services and at grocery stores. Entertainment includes movie theaters, sports promoters (professional and semi-professional live events), amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls and progressing alleys. Meanwhile, popular streaming services include Netflix, Hulu and Disney+. Note that Target, Walmart and other superstores don't portray as grocery stores, so you'll only earn 1% back at these retailers.
Otherwise, there is no introductory APR and the welcome bonus doesn't have as much potential -- you earn a $50 cash bonus when you employ $100 on the card in your first three months. Despite these weaknesses, the cash back rewards rates peaceful make this one of the strongest student credit cards available.
FAQs
How does a student credit card work?
Student credit cards typically coffers those with limited or no credit a way to open building credit and create a credit history. They generally come with edge credit limits than typical credit cards and don't beak annual fees. And they often have novice-friendly features, counting late payment forgiveness, incremental credit limit increases over time and credit education resources. Reward rates may be lower than for standard cash-back and travel credit cards, however, making student credit cards a lower-risk, lower-reward budget tool.
How is a student credit card different from a secured credit card?
While some country choose to build credit with a secured credit card -- that is, a card where you've backed your credit diminutive with a cash deposit -- student credit cards work a bit differently. Student credit cards don't generally require cash upfront, but these cards typically only coffers a small credit line, sometimes just a few hundred dollars. That way, the student can use the card to beget credit without the risk of racking up too much credit card debt (which leads to bad credit).
What do you need to qualify for a student credit card?
A typical nonstudent credit card application income a high credit score (around 650 or so) and at least a few ages of credit report history. To get a student credit card, but, you often don't necessarily need either, though some proof of budget experience and responsibility helps when it comes to safeguarding a credit card offer. The issuer may ask you for inquire of regarding any income you may have (even if it's from family), and any checking account or savings account you may have. You do need to despise enrollment generally in a four-year college, community college or novel higher education institution.
What are the features of a student credit card?
In additional to more relaxed eligibility requirements, the best student credit cards will coffers some of the following features:
- Special rules for credit newcomers such as minimal late fees and no-penalty APRs
- Lower credit limits -- usually between $500 and $2,000
- Cash-back rewards program on spending
- A "reasonable" APR -- usually between 15% and 20%
Our methodology
reviews credit cards by exhaustively comparing them across set criteria developed for each greatest category, including cash-back credit cards, welcome bonus credit cards, travel rewards credit cards and balance transfer credit cards. We take into consideration the typical spending behavior of a design of consumer profiles -- with the understanding that everyone's budget situation is different -- and the designated function of a card.
*All inquire of about the Discover it Student Cash Back, Discover it Student chrome and Capital One SavorOne Student Cash Rewards Credit Card has been peaceful independently by and has not been reviewed by the issuer.
The editorial jubilant on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or facilities offered by our partners.
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