Best Credit Cards for Students in 2024

 

Starting out with a credit card can be overwhelming for students, but finding the right card is essential for building credit, managing finances, and learning financial responsibility. Here’s a list of the top student credit cards in 2024, selected based on rewards, ease of approval, and special features tailored for students.

 

1. Discover it® Student Cash Back

Why it’s Great: Discover it® Student Cash Back offers 5% cash back on rotating categories like gas stations, restaurants, and grocery stores (up to the quarterly maximum) after activation.

Key Features:

Cash Back Match: Discover will match all cash back earned in the first year, effectively doubling the rewards.

No Annual Fee: With no annual fee, it’s affordable for students starting out.

Approval: Easier approval even for those with limited or no credit history.

Pros: 5% cash back, first-year cash back match, no annual fee.

Cons: Requires regular activation for 5% categories.

 

2. Chase Freedom® Student Credit Card

Why it’s Great: This card is known for its straightforward 1% cash back on all purchases with no category restrictions.

Key Features:

$50 Bonus: New cardholders can earn a $50 bonus after making their first purchase within the first three months.

Credit Limit Increase: Chase reviews your account for a credit limit increase after five monthly payments on time.

No Annual Fee: A great option without any hidden fees.

Pros: Simple rewards, good starter card, credit limit increase opportunity.

Cons: Lower rewards rate compared to other cards on specific categories.

 

3. Capital One SavorOne Student Cash Rewards Credit Card

Why it’s Great: The Capital One SavorOne offers 3% cash back on dining, entertainment, streaming services, and grocery stores – perfect for students’ spending habits.

Key Features:

No Foreign Transaction Fees: Great for students studying abroad or traveling internationally.

0% Intro APR: No interest on purchases for the first six months.

No Annual Fee: This keeps it budget-friendly.

Pros: High rewards rate for dining and entertainment, no foreign transaction fees.

Cons: Requires a fair credit score for approval, so may not be the best for absolute beginners.

 

4. Bank of America® Travel Rewards Credit Card for Students

Why it’s Great: Ideal for students who enjoy traveling, as it offers 1.5 points for every $1 spent.

Key Features:

25,000 Online Bonus Points: Earn this welcome bonus after spending $1,000 within the first 90 days.

No Foreign Transaction Fees: Perfect for international travel.

No Annual Fee: Make it affordable for students.

Pros: High rewards rate, welcome bonus points, no foreign transaction fees.

Cons: Requires spending $1,000 within 90 days for the welcome bonus.

 

5. Deserve® EDU Mastercard for Students

Why it’s Great: This card doesn’t require a Social Security number, making it ideal for international students in the U.S.

Key Features:

Amazon Prime Student Membership Credit: Provides a year of Amazon Prime Student after spending $500 in the first three billing cycles.

No Foreign Transaction Fees: A great feature for international students.

1% Cash Back: Earn 1% on all purchases without worrying about categories.

Pros: Amazon Prime Student credit, no SSN required, simple rewards.

Cons: Lower cash-back rate than some competitors.

 

6. Petal® 2 "Cash Back, No Fees" Visa® Credit Card

Why it’s Great: Petal 2 uses a unique credit model that considers your banking history if you have no or limited credit.

Key Features:

1-1.5% Cash Back: Starts at 1% cash back, increasing up to 1.5% after 12 on-time payments.

No Fees: No fees for late payments, international transactions, or annual dues.

Credit Building: Reports to all three major credit bureaus.

Pros: No fees, ideal for building credit, accessible for students without a credit history.

Cons: Lower cash back rate compared to other cards on specific categories.

 

Choosing the Right Credit Card as a Student

Look for No Annual Fees: Many of the best student credit cards offer no annual fee, which is helpful for students managing tight budgets.

Consider Cash Back and Rewards: Look for rewards that align with your spending, such as dining or travel.

Focus on Credit-Building Features: Many student credit cards provide tools and incentives to help build credit responsibly.

 

Bottom Line

Each of these credit cards offers unique benefits for students in 2024. Whether you’re looking for high cash back on dining, rewards for travel, or opportunities to build credit from scratch, these options have something for everyone. Remember to compare features based on your lifestyle and financial goals to choose the best credit card for your needs.

 

Disclaimer: Terms and conditions apply for each card, and approval is not guaranteed. Be sure to read through the fine print and understand your responsibilities when applying for a credit card.