Compare Student Credit Cards

The best type of credit card for students is a student credit card since these cards tend to have better terms than most other credit cards for limited credit. The best student credit cards offer $0 annual fees, rewards and sometimes even 0% intro rates on purchases or balance transfers. Student credit cards are also easy to get approved for with limited or no credit.  

Banks and credit unions tend to offer students favorable credit card terms, even if their credit history and income are limited right now, because students have a higher earning potential once they graduate. So, if you are a student looking to build credit and save money, check out WalletHub’s editors’ picks for the best student credit cards.

Best Student Credit Cards

If you do get rejected for a student credit card, you can apply for a secured card. Secured credit cards are the easiest cards to get approved for since a security deposit is required to open the account, which lowers the risk for the lender.

The biggest pros of student credit cards are easy approval, being able to build credit and the chance to get better rewards, interest rates and fees compared to non-student credit cards for no credit. The biggest cons of student cards are low credit limits and the possibility of adding to your school debt. Although student credit cards have both pros and cons, the pros outweigh the cons if you are responsible.

Pros and Cons of Student Credit Cards

If used responsibly, a student credit card can be a good way to build positive credit history before you even graduate. If you want some guidance on how to build credit with your credit card, check out WalletHub’s first-time credit card tips.

To qualify for a student credit card, an applicant must be a student, at least 18 years old, and capable of affording monthly credit card payments. Proof of enrollment at a college or university may be needed, too, though specific documentation requirements vary by card issuer.

What's Needed to Qualify for a Student Credit Card?

Minimum age requirement of 18 years.

You must be at least 18 years old and a U.S. citizen or legal resident to apply for a student credit card. A Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN) is required in most cases, although international students who do not have an SSN might still qualify for a card such as Deserve® EDU Mastercard for Students if they meet the issuer's other requirements.

Proof of independent income.

Applicants under 21 years old must demonstrate an ability to pay the monthly credit card bill with their own source of income. Savings or wages from a part-time job would meet this requirement. Another option, if you can find an issuer that still allows it, is to have a co-signer who is at least 21 years old guarantee payment on the account.

Limited or no credit history.

Student credit cards are designed for people with limited or no credit, so if you have a bad credit score of 639 or less, your application will likely be rejected. Before you apply, you can sign up for a free WalletHub account to check if you have a credit score yet.

Verification of enrollment.

Most issuers will request some proof that you're a student, such as a college e-mail address. Though not all student credit cards require specific documentation, you should still be truthful when you apply.

Avoid too many recent credit inquiries.

It's important to minimize the number of times you apply for credit in a short period of time, particularly if you have limited or no credit. When you apply for a student credit card, issuers will perform a hard pull of your credit report, and if your credit history turns up frequent credit inquiries, or hard pulls, an issuer may view you as a credit risk and reject the application. So, don't apply for a bunch of cards all at once.

Yes, a full-time college student can get a credit card, assuming they are at least 18 years old and have enough income to afford minimum monthly payments. Income requirements depend on age, meaning students under 21 can only include individual income, while those 21 and over can take household income into account. Individual income can come from a part-time job, paid internship, or scholarship, among other sources. Some issuers will also take into consideration any allowance regularly deposited in a personal bank account.

Being a full-time college student gives you access to an extensive range of credit cards designed specifically for students. Credit cards for students usually offer lower fees and interest rates, as well as higher rewards, compared to general consumer cards for people with a limited credit history.

Best Credit Cards for Full-Time College Students

Full-Time College Student Credit Card Requirements

Be of legal lending age.

The minimum age for getting a credit card in most states is 18. If you live in Alabama or Nebraska, some credit card issuers require you to be at least 19 years old.

Have enough annual income.

If you are under 21 years old, you must prove that you have enough independent income to afford minimum monthly payments. If you are at least 21 years old, you can include money earned by a spouse, parent, or partner as shared household income, as long as you have reasonable access to it.

Have a university email address.

Most credit card issuers allow you to put down a personal email address, but adding a valid .edu address to your credit card application makes it easier for the credit card issuer to validate your enrollment status.

Have additional proof of enrollment in college.

Some student credit card issuers will require proof that you are enrolled, either full-time or part-time, at a college or university. In some cases, you may be asked to provide documentation such as an acceptance letter. They might also verify your enrollment status through the National Student Clearinghouse.

Final Thoughts

Not only can you get a credit card as a full-time college student, but you’ll probably get a better deal than if you wait to get a credit card until after college. You can easily compare the best student credit card offers on WalletHub.

There is no specific income requirement for a student credit card, but you will need at least enough money to afford monthly bill payments for a new credit card account, in addition to your other expenses. Minimum payments are typically around $15 to $25 for most student credit cards. The more your income exceeds your monthly expenses, including a minimum credit card payment, the better your chances are of being approved.

What you include as income on a student credit card application depends on the credit card issuer and your age. Applicants between 18 and 21 years old must have an independent source of income. For example, wages from a part-time job or a regular allowance deposited into your account would count as independent income. If you’re at least 21 years old, you can list shared household income and assets in addition to your own income, if you have reasonable access to the shared funds.

A college student should have at least one credit card. Having an open credit card account is essential to building good credit, which students will need for future expenses, such as renting an apartment or taking out an auto or home loan. You don’t even need to make purchases with a credit card to build credit with one.

Whether or not you should get more than one card ultimately depends on how responsibly you use the first card as well as personal preferences.

Tips to Help Determine How Many Credit Cards a Student Should Have

Multiple credit cards could be useful to responsible cardholders

Students who can juggle more than one account and can pay off all balances on time every month would likely benefit from having an extra credit card or two. Having another credit card provides an additional source of positive information for your credit reports, in addition to an increased total credit limit, which will make it easier to maintain low credit utilization.

Rein in your spending before applying for other credit cards

If you tend to spend more than you can pay back, you should first learn to manage a single credit card effectively before you submit any more credit card applications.

Fewer applications in the short term will benefit your credit score

Try to avoid applying for too many cards at one time. Each application will likely trigger a hard pull on your credit report, which could lower your credit score by a few points. Plus, numerous recent inquiries on your credit report could make you look riskier to lenders.

Even though college students just starting out are likely to have little or no credit, they have plenty of credit card options to choose from. Refer to our editors’ picks for the best credit cards for students to help determine which card best fits your specific needs. You can also check out WalletHub’s credit score simulator to get a better idea of how much your credit score will change based on the number of credit cards you have.

To choose a student credit card, compare offers online and identify the $0 annual fee student credit card with the best rewards for your spending habits. Student credit cards usually offer ongoing rewards, initial bonuses, and 0% APR promotions that aren’t always available to non-students with a limited credit history.

If you don’t have bad credit (a credit score of 639 or less), you are at least 18 years old, and you have an independent source of income sufficient to make monthly payments, your odds of approval should be pretty high. Bear in mind, however, that some student credit cards require verification of enrollment, typically at a two- or four-year college or university, so be prepared to provide information such as a college e-mail address or official transcript if requested.

How to Choose a Student Credit Card

1. Rule out cards with annual fees.

Scratch off your list any student credit card that charges an annual fee. Most college students are on a tight budget, so there’s no need to add an annual fee to your list of expenses – especially since there are so many student cards that don’t charge them.

2. Choose rewards based on your spending habits.

Rewards are among the most important factors to consider when choosing a student credit card because students should pay their bill in full every month, which makes interest unimportant. Plus, student credit cards are generally equal in not charging annual fees.

Be sure to seek out a student card with rewards that line up well with your spending, as that will help maximize your earnings. And keep an eye out for student-friendly features such as bonuses for good grades and on-time payments.

3. Make sure the card reports to the three credit bureaus.

Your student credit card should report to all three of the major credit bureaus: Equifax, Experian, and TransUnion. Credit bureaus use the information reported by your credit card issuer every month to calculate your credit score. The higher your credit score, the greater financial opportunities you’ll have by the time you graduate.

4. Look into cards with no foreign transaction fees.

If you plan to study abroad, a credit card with no foreign transaction fee can be a real lifesaver. Most cards that charge this fee typically add around 3% to all international transactions. That doesn’t seem like very much, but if you’re on an extended stay in another country, those fees can really add up.

5. Consider a card with an introductory 0% APR, in case of an emergency.

You will want to avoid carrying a balance from month to month, but sometimes, you’ll need a way to finance unexpected expenses when you’re short on cash. That’s where 0% APR student credit cards can be a valuable resource. You’ll be able to pay down the balance without interest, if you pay in full before the intro rate expires.

6. Shop around for the best student credit card

Not all student credit card features are for everyone, so do a little comparison shopping to determine which card is best for your particular needs. Our editors’ picks for the best credit cards for students will help you get started.