Top credit cards for college students

Establishing credit during your college years is a vital step toward financial responsibility, helping you cultivate a healthy relationship with money and the cards you carry. While setting up your own credit line may feel intimidating, the immediate and future advantages are clear.

Soon, having a credit line in your name will be crucial when you're looking to secure a car loan, a mortgage, or even rent your first apartment.

Discover a variety of cash-back credit cards ideal for students with some (albeit limited) credit history, alongside student cards crafted for newcomers with no credit experience, all featuring no-annual-fee credit cards tailored to your student lifestyle.

Top credit cards for college students

• Chase Freedom Unlimited®: Ideal for students with an established credit history
• Capital One SavorOne Student Cash Rewards Credit Card: Perfect for the average college student
• Capital One Quicksilver Student Cash Rewards Credit Card: Best for those studying abroad
• Citi Double Cash® Card (see rates and fees): Top choice for consistent cash-back
• Discover it Student Cash Back: Excellent for students maintaining good grades

The details for the Discover it Student Cash Back have been independently gathered by Dinogo. The information on this page has not been verified or supplied by the card issuer.

Evaluating the top credit cards for students

My process for selecting the best credit cards for college students

In selecting the top credit cards for college students, I considered various factors that matter most to young adults. I examined aspects like approval simplicity, student-oriented rewards programs, and cards that don’t impose foreign transaction fees.

I concentrated solely on credit cards that come with no annual fee. While many excellent rewards credit cards available may justify their annual fees with substantial benefits, it's wise to begin with a no-annual-fee card as you start your credit journey.

How do student credit cards function?

Student credit cards are designed for individuals aged 18 and older who lack a credit history or card in their name. Because of this, they are usually much easier to get approved for and often do not require a strong preexisting credit score.

Card issuers tend to be stricter in distinguishing between qualified and unqualified applicants for premium cards.

TOPALOV/GETTY
Generally, student credit cards function similarly to most credit cards. They come with a credit limit, which indicates the highest amount you can borrow on that card within a given month.

You need to repay the borrowed amount by the due date on your credit card statement to avoid accruing interest. Thus, it's crucial to remember that credit cards should not be viewed as free money.

While handling your finances and having a credit card under your name are significant steps toward becoming an independent adult, it's vital to monitor your account regularly and track your spending to start your FICO score on the right path.

Establishing credit as a student

Before you start building credit as a student, familiarize yourself with credit cards and rewards. Begin by reviewing your credit reports for free, and ensure you choose a card that aligns with your credit score, needs, and spending habits. Understand key credit card terms, including the following:

• Annual fee: While most student credit cards typically do not charge an annual fee, many premium rewards credit cards do require an annual payment to maintain the card under your name.
• Credit limit: Once approved for a credit card, you'll be assigned a credit limit. This limit represents the highest amount the issuer will lend you on that specific credit line during the billing cycle. The percentage of your limit that you utilize — known as your credit utilization rate — affects your credit score.
• Rewards: Numerous credit cards provide rewards such as cash-back, points, or airline miles. There are various redemption options available, from using rewards for statement credits to more complex travel redemptions via transfer partners. Discover how to navigate the rewards landscape with our beginner's guide to points and miles.
• Foreign transaction fees: Certain credit cards may charge fees for transactions made outside the United States. These fees can negate any rewards earned on purchases, so make sure to use cards that do not impose foreign transaction fees when traveling abroad.

Advice for parents regarding student credit cards

Assisting your teenager in obtaining their first credit card can be daunting yet rewarding. Teaching them to manage credit responsibly is an essential skill for their financial future — and it brings peace of mind to you as a parent.

If you're not ready for your student to have their own credit line, you can always add them to your personal account as an authorized user. This process can typically be completed directly with the credit card issuer, either online or by phone.

Although you'll remain the primary account holder and responsible for paying the statement balance each month, adding your child to your account offers significant advantages.

Crucially, if the account is handled well, your children can expect improvements in their personal credit scores and a richer credit history.

If your issuer reports this data to their relevant credit bureaus, adding your children to your account may provide them with FICO advantages when they decide to apply for a personal card under their name.

Common questions about student credit cards

Do I need to have a job to be eligible for a student credit card?

While most credit card applications ask for your annual income, you don't necessarily need a formal job title to qualify for many student credit cards. Various forms of income, including part-time jobs, internships, and freelance work, are typically accepted when applying for a student credit card.

If your income is minimal or nonexistent, consider asking a parent or guardian to add you as an authorized user on their account. Securing approval for any credit card, including secured credit cards, can be quite challenging without a stable income. You don’t need to earn a six-figure salary, but you should have enough income to make a lender feel confident in extending you credit.

What is the minimum age to qualify for a student credit card?

If you are a student enrolled in a two- or four-year college, are at least 18 years old, a U.S. citizen, and can provide some form of verifiable income, you are an ideal candidate for a student credit card.

If you are under 21 and cannot demonstrate your eligibility for a credit card, you might consider finding a co-signer (typically a parent or guardian) who can assume responsibility for your payments if you miss them for that month.

However, be aware that this arrangement could impact the credit scores of both the student and the co-signer, as even a single missed payment can have a significant effect on your credit score.

What should I do if my credit card application is denied?

Facing a credit card denial can be discouraging, but it doesn't have to spell the end of your credit journey. Issuers are required to respond to credit card applications within 30 days, but you may often receive a denial notice by mail within a couple of weeks, detailing the reasons for the rejection.

For students, the most common reason for denial is likely an inadequate credit history, particularly if you applied for a card not specifically designed for students.

However, there could be other typical reasons why young applicants are denied, such as discrepancies between the details on your application and the information the credit bureau has on record.

Having insufficient income is another significant reason for potential denial.

If your credit card application is rejected, we suggest reaching out to the credit card issuer to discuss their decision. Many banks have a reconsideration line where customers can appeal a credit card application denial.

Before you call, make sure to have your identification and income details ready to answer any questions the representative may ask. The worst outcome is that the issuer stands by their decision, which might result in a slight dip in your credit score due to the hard inquiry on your credit. However, such declines are usually temporary, and scores often recover swiftly.

What will happen to my student credit card once I graduate?

I typically advise keeping your first credit card open for the long term. You might be concerned that your student card will be closed upon graduation, as it’s designed for students rather than working adults.

Luckily, credit issuers usually reclassify your student card instead of shutting it down. Your account will remain active, but you’ll receive a non-student version of the card. Alternatively, some issuers, like Discover, may let you keep the student card even after graduation.

As you transition to more advanced credit cards, don’t forget to make occasional charges on your old student card. If you let it sit unused for too long, issuers may reduce your credit limit or close the account altogether.

In summary

Students have numerous options when selecting their first credit card. The ideal card for you will ultimately hinge on the type of rewards you desire, but each option on our list offers significant rewards without any annual fees. Many also help foster positive financial habits, and most are simpler to get approved for compared to other rewards cards.

If you already have a credit history, the Chase Freedom Unlimited or Citi Double Cash is an excellent way to begin building a relationship with a premium issuer. For those completely new to credit, the Capital One SavorOne Student or Capital One Quicksilver Student would be fantastic choices.