- Myth #1: They don't offer rewards or worthwhile benefits. It's true that most don't (especially those from small banks), but the best credit cards for college students will give great rewards and other benefits.
- Myth #2: Student cards are out to get you. As with any type of credit, if used recklessly it will lead to problems. But the bottom line is that if you pay your balance in full each month, there won't be any interest.
- Myth #3: You need to carry a balance to build up your credit. What's reported to the credit bureaus is your balance at the end of a billing cycle (when the bill is issued). That means you don't need to carry debt to build up your credit history. The amount due on the bill will still be reported whether you pay it in full or not. So pay it all and avoid interest!
Top Pick: Discover it® for Students with $20 Cashback Bonus
What's so unique about this is that it's the student version of the popular Discover it card. It gives you the same 5% rewards program but unlike the original, students with limited credit history can qualify. And by way you should know that Discover cards are widely accepted; over 90% of US merchants now take Discover for payment.
- No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And they won't increase your APR for paying late.*
- 5% cash back in categories each quarter when you signup for them. For the 2nd quarter (April 1st through June 30th, 2014) you can earn 5% at home improvement stores, furniture stores and Bed Bath & Beyond® on up to $1,500 spent!
- 1% cash back on all other purchases.*
- 100% US-based customer service.
- $20 Cashback Bonus Promotion - Make your first purchase within 3 months of approval to get this.
- *Click "Apply" to see rates, rewards and other info
Discover it® for Students with 0% intro APR for 6 months on purchases
Same card as above, except this comes with a different signup offer. You do not get the $20 Cashback Bonus. Instead, you get a 0% intro APR* on purchases for 6 months, then the standard variable purchase APR of 12.99% - 21.99%.* Except for that one difference, the card is identical. If you plan on paying for purchases over time, then this 0% intro APR offer will probably be the better choice. *Click "Apply" to see rates, rewards and other info.
Journey℠ Student Rewards from Capital One®
Tons of benefits, a nice rewards program, and no annual fee... sounds like a winning combo, right? As part of the Visa Platinum benefits, you will get access to the extended warranty program for eligible purchases and a 24-hour hotline for travel and emergency assistance. It's the perfect credit card for college students because it offers access to your monthly credit score for free.
- Earn 1% cash back on every purchase, every month—and pay no annual fee
- For every month you pay on time, you receive a 25% bonus — that's a total of 1.25% cash back
- Get access to a higher credit line after making your first 5 monthly payments on time
- Brighten your financial future with responsible credit use — and get rewarded along the way
- Fraud coverage if your card is lost or stolen
- There's no limit to the amount of cash back you can earn, and rewards don't expire
- Pick the monthly payment due date that works best for you
- Get free access to a credit score, credit report, and credit tips using Credit Tracker