Building credit while in college is an important step to establishing a strong financial future. By responsibly managing a credit card, students can establish a positive credit history that will benefit them when applying for loans, renting an apartment, and even getting a job. However, with so many credit card options available, it can be overwhelming to know which card is the best choice for students. To help make the decision easier, here are some of the best credit cards for students looking to build their credit.
1. Discover it Student Cash Back
One of the top choices for students, the Discover it Student Cash Back card offers 5% cash back on rotating categories, such as grocery stores, restaurants, and gas stations. In addition, Discover matches all the cash back earned during the first year, making it a great option for students who want to maximize their rewards. The card also has no annual fee and provides access to a free FICO credit score each month.
2. Capital One Journey Student Rewards
The Capital One Journey Student Rewards card is designed specifically for students looking to build credit. This card offers 1% cash back on all purchases, with the potential to earn a higher cash back rate of 1.25% for making on-time payments. The card also has no annual fee and provides access to a higher credit line after making the first five monthly payments on time.
3. Citi Rewards+ Student Card
The Citi Rewards+ Student Card is a great option for students who want to earn rewards on their everyday purchases. This card offers 2 ThankYou Points per dollar spent at supermarkets and gas stations, as well as 1 ThankYou Point per dollar spent on all other purchases. The card also rounds up to the nearest 10 points on every purchase, making it easy to earn points quickly. In addition, the card has no annual fee and provides access to Citi’s online tools for managing credit.
4. Bank of America Cash Rewards for Students
With the Bank of America Cash Rewards for Students card, students can earn cash back on their purchases while building credit. This card offers 3% cash back on a category of the user’s choice, such as gas, online shopping, dining, travel, or drug stores, as well as 2% cash back at grocery stores and wholesale clubs. The card also provides 1% cash back on all other purchases and has no annual fee.
Overall, these are some of the best credit cards available for students looking to build credit while in college. By choosing a card that fits their spending habits and financial goals, students can establish a positive credit history that will benefit them in the long run. Remember to use credit cards responsibly by paying off the balance in full each month and avoiding unnecessary purchases. By doing so, students can build a strong credit score and set themselves up for financial success in the future.
Establishing Credit as a College Student: Top Credit Card Options
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