Are you a college student in the search of best college student credit cards of 2023? well, glad you found this website that is perfect for you and going to help you choose the best college student credit card for you. There are lots of options available in the market for you, but are all worth it?
It is confusing and most importantly time taking to choose the best college student credit card, and that is where we enter. We have a list of all the best college student credit cards of 2023 and we have made your work easier we have also mentioned why you should choose the credit card in our list, first these all are best and secondly, why don't you find out by yourself by reading this post till the end.
Let us just stop our chit-chat and let us go dig deep about the best college student credit cards of 2023.
What Is a Student Credit Card
Before jumping on to the list of best credit cards for students lets us get an idea first that what exactly is the student credit card. If you don't have any idea. Don't worry we got your back. Student credit cards are quite different from the standard credit card we see in our day-to-day life.
Student credit cards are specially made for college-going students and the person who wants a student credit card can apply without having any credit history but for a standard credit card you have to qualify for some other requirements. Student credit cards are issued by a bank or a union to the college student only. You have to minimum of 18 years old in order to get a student credit card.
Best 7 College Student Credit Cards of 2023
Let us quickly go through the list of the best college student credit cards of 2023.
1. Discover It Student Cashback
This is the first credit card that we are describing named discover it student cashback. This credit card is a great option for college students it has no annual fees if you are a student. You can get 5% of cashback on almost every purchase which is a great benefit for a student.
There are no foreign transaction fees, which makes it a good choice for students studying abroad. We would highly recommend you go for this credit card if you really want a credit card that is best for students.
2. SavorOne Rewards for Students
If you are fond of traveling then SavorOne Rewards for Students could be a great option for you. This card offers some amazing rewards which is really amazing. Cardholders earn 5% cash back on hotels and rental cars booked through Capital One Travel; 3% cash back on dining, entertainment, popular streaming services, and at grocery stores excluding superstores like Walmart® and Target®; and 1% cash back on everything else.
This card has no annual fees or neither foreign transaction fees the only thing we will suggest you just pay off the bill monthly on time because the interest rate could be quite high. So just make sure to pay off the debt fast.
3. Bank of America Travel Rewards for Students Credit Card
If you are a student who wants to study In foreign and travel the places during your holidays then the Bank of America Travel Rewards for Students Credit Card card is the best option for you. It has no foreign transaction fees which makes it another reason for you to choose this card if you are planning to study abroad. This credit card is just for you.
You get a 10% bonus just for having this card in your pocket, That increases the rewards rate to 1.65 points per $1 spent. I know this is amazing the most important qualification for you in order to apply for this card is that you have to be 18 years old minimum and should be enrolled in school.
4. Discover It Student Chrome
This is another credit card offered by Discover for students that is Discover it Student Chrome. It has a strong rewards program for college students frequently filling up their gas tank or dining out, with 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%. Plus, earn unlimited 1% cash back on all other purchases automatically.
As we have seen this card is also offered by discover bank this card also has neither annual fees nor foreign transaction fees which makes it a great pic for college students.
5. Citi Rewards+℠ Student Card
Another one of the best credit cards on our list is the Citi Rewards+℠ Student Card. I personally like this credit card. If you are someone who cannot stop yourself doing small purchases from time to time then this could be the best option for you.
If you are someone who goes to supermarkets and gas stations very often then this would be the card for you. This card gives you high rewards on supermarket and gas station purchases, and yes it doesn't have any foreign transaction fees which is again a plus point.
6. Deserve® Edu Mastercard for Students
Deserve® Edu Mastercard for Students is another student credit card that you can consider having. This is especially for international students. If you are someone who is not very good at fulfilling the requirements that are needed in order to have a student credit card then this card is the best pick for you.
You will get 1% cashback on your all purchases and yes there are no annual fees. This is a great pick for the students like me who is not very good in qualify the requirements. You don't need any credit history required to get this credit card which is the best quality of this card that I personally like.
7. Capital One Quicksilver Rewards for Students
Capital One Quicksilver Rewards for Students is a great option you can pick if you want a card with no extra maintenance. You get great rewards on this card with every purchase you make. There are no annual fees in this credit card and no foreign transaction fees which makes this card a great pick anyways.
I would highly recommend you pick this card I personally have used this card and I really like this one. This is one of the best student credit cards that you can get. The card also offers 10% cash back on Uber and Uber Eats purchases as well as a complimentary Uber One monthly membership through Nov. 14, 2024.
Benefits of a Student Credit Card
We have seen the cards that you should have as a student but what are the benefits of having a student credit, are there even any benefits of having a student credit card or not? Let us talk about the benefits of having a student credit card.
1. Building Credit History
It basically makes you a responsible person as you get this credit card at a very young age it helps you to build your good credit history. This can be really beneficial for you in old age when you will apply for loans in the future. This is a really great benefit that a student can get after having a student credit card.
2. Credit Score
If you use this student credit card responsibly then it can help you to improve your credit score and we all know credit score is really important if you want to have a credit card. This is a very great benefit that you can have after getting a student credit card for yourself.
3. Financially Responsible
If you own a credit card it gives you a responsibility to maintain that and own and when you get a student credit card it makes you financially responsible. You learn to use credit cards in a good way and learn to handle the purchases and spending on your own which is a benefit of having a student credit card.
4. No Annual Fees
Most student credit card doesn't have any annual fees which is again a benefit of having a student credit card and the cards that we mentioned in our list all our annual fees-free. So this is another one of the best benefits that you can get after having a student credit card.
5. Emergency Funds
Credit card is always a help in your drawer or in your pocket. You never know what trouble you get into someday and then a credit card can help you to get out of it. This is again a benefit that you can get from the student credit card. A credit card can serve as a backup emergency fund when unexpected expenses arise, providing a safety net in times of need.
Disadvantages of Student Credit Cards
We have seen the benefits of having a student credit card but there are always two sides of a coin and there are some disadvantages well of a student credit card this is also important for you to know before applying for one.
1. Control Your Spending
Having a credit card is basically spending the money that actually you don't have. It gave you access to buy anything you want and it makes you irresponsible. This could be problematic for you in the future. Which is not really an advantage but a disadvantage of having a student credit card.
2. Affects Your Credit History
We talked about how it can help you to improve your credit score but it can also ruin your credit score. It all depends on you. You spend on the things with the money you don't actually have and you pay interest for that. If you miss paying the interest timely it will affect your credit score which is definitely not good for you.
3. Bad Mental Health
When you own a credit card and sometimes when you fail to pay the bill of your credit card and you get into debt. It can be really bad for your mental health. As a student, this is not something you can really afford. You should have good mental health. This is a disadvantage of student credit cards.
4. High Interest
Banks charge high interest for a student credit card which is a little hard for a student to pay monthly which can be really mind-bursting for a student. I would count this as a disadvantage of a student credit card, but yes if you can pay your bill on time then I think you don't need to worry.
5. High Debt
As we have talked that there is no particular limit to your spending and you can spend with the money you don't really have this can possibly leave you in debt and being in debt at a young age is not very good and again this will affect your credit score. This is a really big advantage of having a student credit card.
Frequently Asked Questions (FAQs)
There are some frequently asked questions asked by some students like you.
Q1. Should college students have credit cards?
A1. It is not necessary for students to have credit cards but it is beneficial for them if they own a credit card. It gives them financial support, helps them to improve their credit score, and many more benefits are there so I,d say yes college students should have credit cards.
Q2. Can I get a student credit card at the age of 17?
A2. The simple and clear answer to this question is no. you can not get a student credit card at the age of 17. You have to be qualified in order to own a credit card and the first requirement is your age. You should be a minimum of 18 years old if you want to get the student credit card and you should be a college student as well.
Q3. Is it necessary to be a student to get a student credit card?
A3. As you can simply see in the name this is the student credit card for a reason so yes it is important for you to be a student if you want to have a student credit card.
Choosing a credit card is tough even for adults and it is more difficult to make a choice when it comes to choose for a student credit card. As a student, it is really hectic to go through every credit card reward and offering and then shortlist the one you need. We understand the burden you are talking about here.
We wrote this article by mentioning the top best student credit cards that you can see out there. We have done nothing but made your work easy. All you have to do is match your needs to the cards we mentioned and then make a choice. Credit cards bring many benefits with them.
We tried our best to shortlist all the best student credit cards that you can find in 2023. Glad to see you at the end of the article that means you read the article and I hope you found what you were looking for at the start of the article. I know it is hard to choose one but I can assure no matter which card you choose from our list you will not going to regret it.
I hope you liked our article and found some informative content. If you have any queries do ask us in the comment box. Don't forget to mention which credit card you picked for yourself. Do share this article with your family and friends especially those students who may need these student credit cards.