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What are the Best Credit Cards for Students?

Emma MarroneVerified
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Summary：Explore the best credit cards for students, including Discover it Student Cash Back, Journey Student Rewards from Capital One, Citi Rewards+ Student Card, and Bank of America Cash Rewards Credit Card for Students. These cards offer rewards, no annual fees, and helpful tools, but it's important to pay off the balance in full each month to avoid high APRs.

Credit cards are a popular financial tool for students, providing a means to build credit and manage expenses. However, with so many options available, it can be difficult to determine which credit cards are the best fit for students. In this article, we will explore the bestcredit cards for students, highlighting their features, benefits, and drawbacks.

1. Discover it Student Cash Back

The Discover it Student Cash Back card is an ideal option for students who are looking to earnrewardsfor their spending. This card offers 5% cash back on rotating categories, such as gas stations, restaurants, and Amazon.com, up to a quarterly maximum. Additionally, cardholders earn 1% cash back on all other purchases. The card also offers a $20 statement credit each school year if the student maintains a GPA of 3.0 or higher. However, this card does come with a high APR, so it is important to pay off the balance in full each month.

2. Journey Student Rewards from Capital One

The Journey Student Rewards from Capital One is another great option for students. This card offers 1% cash back on all purchases, with the potential to earn up to 1.25% cash back if the cardholder pays on time. The card also has no annual fee and comes with helpful tools, such as text alerts and auto-payment options. However, this card does have a high APR, so it is important to use it responsibly and pay off the balance in full each month.

3. Citi Rewards+ Student Card

The Citi Rewards+ Student Card is a unique option that rounds up to the nearest 10 points on every purchase, making it easier to earn rewards. This card also offers 2x points at supermarkets and gas stations, and 1x points on all other purchases. Additionally, cardholders earn 10% of their points back for the first 100,000 points redeemed each year. The card also has no annual fee and a 0% introductory APR for the first 7 months. However, this card does have a high regular APR, so it is important to pay off the balance in full each month.

4. Bank of America Cash Rewards Credit Card for Students

The Bank of America Cash Rewards Credit Card for Students offers 3% cash back in a category of the cardholder's choice, such as gas, online shopping, or dining, and 2% cash back at grocery stores and wholesale clubs, up to a quarterly maximum. Cardholders also earn 1% cash back on all other purchases. The card also offers a $200 cash rewards bonus for spending $1,000 in the first 90 days. However, this card does have a high APR, so it is important to pay off the balance in full each month.

Investment Tips for Students

In addition to choosing the right credit card, students should also consider investing in their future. Here are some investment tips for students:

1. Start early: The earlier you start investing, the more time your investments have to grow.

2. Diversify: Invest in a variety of stocks, bonds, and mutual funds to minimize risk.

3. Consider a 529 plan: A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs.

4. Seek professional advice: Consider working with a financial advisor to help you make informed investment decisions.

In conclusion, when it comes to choosing the best credit card for students, it is important to consider factors such as rewards, fees, and APR. By selecting a card that fits their individual needs and using it responsibly, students can build credit and manage their expenses effectively. Additionally, by investing in their future, students can set themselves up for long-term financial success.

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credit cards for studentsDiscover it Student Cash BackJourney Student Rewards from Capital OneCiti Rewards+ Student CardBank of America Cash Rewards Credit Card for Studentsrewardsno annual feeshigh APRs
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