Adam McCann, Financial Writer
@adam_mccann
The best secured credit card for students is the Discover it® Secured Credit Card because it gives 1 - 2% cash back on purchases and has a $0 annual fee. Secured cards are best for students with bad credit or those under the age of 21 who don’t have much independent income. There aren’t any secured cards that are specifically for students, but students should be able to qualify for any of them.
Best Secured Credit Cards for Students
Students with limited or no credit history can get unsecured student credit cards with much better terms, as long as they have a bit of their own money saved up. Journey Student Rewards from Capital One and Discover it® Student chrome are two of the best options.
Percy Rossman, Member
@percy_rossman
I think the best one is the Capital One Secured Mastercard. The security deposit can be $49, $99, or $200, depending on your credit worthiness. This will double as your credit limit, and you can deposit more money if you want a higher limit. The card has no annual fee, and an APR of 24.99%. If you make your first 5 monthly payments on time, you’re eligible for a credit limit increase.
Steven Beck, Member
@steven_beck_2
If you're just starting out, Opensky is a good option, since it doesn't even have a credit check. There's no fancy rewards, but you're pretty much guaranteed to get it, since it's a secured card.
If you do really care about getting rewards so early in your credit-building adventure, then yeah, Discover Secured is a better option.
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