What are some good starter credit cards for students?

Question

The best first credit card is Discover it® Secured Credit Card because it offers 2% cash back on the first $1,000 spent per quarter at gas stations and restaurants and 1% everywhere else. Those are the best rewards you’ll find on any credit card for first-timers. Plus, Discover will match all the rewards earned during the first year on the first account anniversary. Discover it Secured Credit Card has a $0 annual fee, but it does require a refundable $200+ security deposit to open the account. The credit limit is equal to the amount of the deposit, up to $2,500. … read full answer

If you’d rather not put down a deposit, there are some good unsecured first-time credit card offers as well.

Best for no deposit: Capital One Platinum Credit Card is the best unsecured credit card for first-timers because it has a $0 annual fee. The downside is that Capital One Platinum does not provide rewards.

Best for rewards with no deposit: Capital One QuicksilverOne Cash Rewards Credit Card offers 1.5% cash back on all purchases but has a $39 annual fee.

Like all Capital One cards, both of those options do not charge foreign transaction fees. Some of the best first credit cards are targeted specifically toward students. Only people enrolled in school can get them, but they provide some of the best terms and rewards.

Best for students: Bank of America® Travel Rewards Credit Card for Students is the best credit card for first-timers who are still in school in large part because it offers a bonus of 25,000 points for spending $1,000 in the first 90 days. It also gives 3 points / $1 spent at the BofA Travel Center and 1.5 points / $1 everywhere else. To top it off, the annual fee is $0.

Even if you’ve never had a credit card before and don’t have a credit history, you should have high chances to qualify for any of these cards if you have an income.

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Answer 1 · 2019-08-31 08:24:03

ELIJAH NASH, Annuity Wholesaler

@EliEliO 08/31/19 This answer was first published on 08/31/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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One of the best starter credit cards for students is the Discover it Student chrome card because it has a $0 annual fee and offers 1%-2% cash back on purchases. Cardholders get 2% back on up to $1,000 in gas and restaurant purchases per quarter, and 1% back on everything else. Plus, Discover doubles all the rewards new cardholders earn the first year and gives a $20 annual bonus to students who carry a 3.0 GPA or higher (for up to 5 years).

Those same bonuses can also be found on Discover’s other student card, the Discover it Student Cash Back card. And it too comes with a $0 annual fee. The difference is that it offers 5% cash back up to $1,500 spent in select categories every quarter and 1% back on everything else. So it’s a contender, too. A lot comes down to spending habits and preference.

Nearly all student credit cards qualify as starter credit cards because you can get approved for them with limited or no credit history. That’s true of both Discover student credit cards, as well as the Capital One Journey Student Rewards Card, the Wells Fargo Cash Back College Card – both of which are great options – and countless others. Citi’s Student Card is the only prominent example of a student credit card that’s not for beginners. It requires good credit for approval.

In general, students credit cards are the best starter credit cards because they’re easy to get without prior experience yet offer far better terms than an inexperienced applicant would ordinarily command. That’s because lenders want to appeal to students in the hope of gaining a long-term customer who may land a well-paying job upon graduation.

Answer 2 · 2019-09-09 02:24:22

KAREN MOROZ, Freelance Mortgage Professional

@nycKaren 09/09/19 This answer was first published on 09/09/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The best starter credit cards for students aren’t necessarily all “student credit cards.” For example, Capital One QuicksilverOne is another good choice that’s open to anyone with limited credit. It offers 1.5% cash back on all purchases for a $39 annual fee.

Students who want the highest possible approval odds can opt for secured credit cards. Secured cards are good for building credit and require a refundable security deposit. The deposit sets your credit limit and establishes collateral for the lender. Discover it Secured is one of the best secured options available. It offers 2% cash back on up to $1,000 in restaurant and gas purchases each quarter, plus 1% on all other purchases. And it matches all the cash back you earn during the first year on your first account anniversary. The card has a $200 minimum deposit and a $2,500 maximum. Its annual fee is $0.

Answer 3 · 2019-12-16 09:44:45

William Drake, Pro Fisher

@will_drake 12/16/19 This answer was first published on 12/16/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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The Discover it Student chrome is a top choice, but the Capital One Journey is a solid option as well.

What are some good starter credit cards for students?

ELIJAH NASH, Annuity Wholesaler

KAREN MOROZ, Freelance Mortgage Professional

William Drake, Pro Fisher

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