Building good credit may not seem important while you’re still in school. But it’s certainly the best time to start. Why? Because you’ll need a credit history when you want to finance your first car, buy a house, or even to qualify for any loan. Not just that. Your credit history even affects your job prospects. So the best time to get your first credit card is when you’re still a student. But before you do, determine which one is best for you. Here’s a list of popular credit cards for students:
1. Journey Student Rewards from Capital One
If you’re looking at building not just good credit history, but also healthy credit habits, this card is what you need. With a cash back incentive for paying bills on time, this credit card is designed to help you learn to handle finances and make responsible spending decisions.
2. Deserve Edu Mastercard
Out of all the credit cards for students out there, this card is the best to use for buying school supplies. It allows you to get reimbursed for an Amazon Prime Student membership, with which you can have access to textbooks, pens, notebooks, laptops, and everything you need for school. Besides this, it also gives you 1% cash back on all purchases and carries no annual fee.
3. Discover it Student Cash Back Card
This card is best for earning rewards. It gives you 5% cash back at restaurants, gas stations, grocery stores or on Amazon.com, and 1% on all other purchases. This is one of the best credit cards for students since there is no annual fee and comes with an introductory 0% APR for a six-month period. Besides these benefits, you also get free monthly FICO credit score access, and an incentive to maintain good grades with a $20 statement credit if you have a 3.0 GPA.
4. Bank of America Travel Rewards Card
With the most generous sign-up bonus, this is one of the best credit cards for students studying abroad. It gives you 25,000 bonus points for purchases worth $1000 during the first 3 months. These points are equivalent to a $250 statement credit which can help you pay the airfare to travel abroad to study. The card comes with chip and pin technology and no foreign transaction fee, making it most suitable for international use.
While all of the above-listed credit cards for students provide a number of rewards and benefits, the real opportunity lies in your chance to build good credit. So irrespective of the credit card you opt for, ensure you make responsible financial decisions and demonstrate good credit habits to your lender.