Don't know which student credit card is right for you? Check these cards out!
August 7, 2021
As a college student, it is very important that you build credit, because you are going to need it when you graduate. You need credit to rent an apartment, to buy a car, and pretty much anything else that requires a monthly payment. I recommend that students get a credit card long before college, because it can set you up really well to get nicer cards once you graduate. But if you're looking for your first card in college, there are a decent amount of good options. I'm going to list three of my favorite student credit cards, one of which was my first credit card ever.
Pickawood
If you are the type of person that would take the mental capacity to be aware of which card they should use to maximize rewards, this credit card is the one for you. First, it's a no-fee card. You should only focus on credit cards that do not have a yearly fee. Second, the rewards are really good considering the primary users of this card have no credit history to begin with. You can earn 5% cash back on purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations. This means that every quarter the 5% cash back categories will change and depending on which category is in the current quarter, you will want to use your Discover card on that category to maximize points. You also earn unlimited 1% cash back on all other purchases.
Discover will also match all your cash back in the first year. This feature is awesome, because it means that you are earning no less than 2% on every transaction for the first year.
It is a pretty basic rewards system, but remember that there are many credit cards out there that don't provide nearly as much value as this Discover card and they require credit history! So, this really is a great starter card.
This card provides unlimited 1% cash back on all purchases and $20 back every account anniversary that you are in good academic standing. 1% cash back is a decent perk for being a student, but if you get this card before you start college, you can earn up to $100 by the time you graduate.
I am a little biased towards Chase as a company. I think their credit cards are some of the best in the game and I'm glad they made a card focused on students with limited credit history. Although the perks are good, I think an undervalued perk of this card is that by having one you start building a relationship with Chase earlier in your life. As you level up in life and pay your credit card payments on time, Chase offers will present themselves to you. You'll be offered attractive rates for loans, get pre-approved for their upper-echelon credit products, and overall it just helps your relationship with a bank if you become a customer early and stay long. Highly recommend this one!
This credit card was my first ever credit card. I unfortunately didn't get a credit card until my last year of college (oops!), but when I did I was glad I got this one. The Chrome card is super simple, 2% cash back at gas stations and restaurants and 1% cash back on all other purchases. As a student who worked and loved to eat out, this card was perfect for me. This credit card also matches your cash back earned in the first year, just like the Discover it Student Cash Back card.
At the end of the day, apply for the credit card that matches your spending habits the best and that makes you feel comfortable. If you like the rotating 5% cash back categories, go with the Discover it Cash Back card. If you want a Chase card early in your career, get the Freedom Student card. If you like the simplistic rewards of gas/restaurants on the Chrome card, then get that. Or, don't get any of these! As always, do your own research and find what works for you.
I'll leave you with this message - Drink water, pay your credit card payments on time, and earn free money.
.svg)
.svg)
