Teaching young adults about credit cards is a very necessary thing to do because mistakes made with a student credit card pale in comparison to the mistakes possible when you’re an established professional. For one, the credit limit is much lower on a student credit card, making the possible debt load less. Then, should you make a late payment or default on your card, you’ll have more time to correct your mistakes before your credit is needed for a house or car purchase.
Student credit cards certainly have their pros and cons, but if used responsibly, the experience and rewards gained by credit cards can certainly help a students future. We’ve compiled a short list of the best student credit cards in the market today. All of these cards teach responsible spending while rewarding students for on time payments, good grades and responsible spending.
Not too long ago, credit card issuers offered students free t-shits, koozies, slices of pizza, and other random goodies as a reward for applying for a credit card. Rules have changed, and applying for a student credit card is a little more strict now. This is a good thing, as many students took on more than they could handle. The following student credit cards offer good rewards programs, have reasonable interest rates, and no annual fees. When used properly, they can help you learn to use credit responsibly and help you build your credit score.
Top Credit Cards for College Students
Citi Forward® Card for College Students.
The Citi Forward® Card for College Students – The Citi Forward® Card for College Students is the only credit card I know of that rewards cardholders for paying on time and staying under their credit limit. For example, the Citi Forward® Card for College Students offers students the ability to earn up to 2% Purchase APR reduction, when you make a purchase, stay below your credit limit and pay on time 3 billing periods in a row (0.25% each quarter 8X maximum). There are generous rewards as well, with 2,500 bonus ThankYou® Points after spending $500 within the first 3 months of cardmembership. Standard rewards include 1 ThankYou® Point for every $1 you spend and the opportunity to earn up to 1,200 bonus ThankYou® Points for paying on time and staying under your credit limit. This card features flexible billing options and no annual fee. Click Apply Now for pricing information.
Citi® Dividend® Card for College Students.
Citi® Dividend® Card for College Students – If rewards are of importance, the best student credit card would be the Citi® Dividend® Card for College Students. Earn bonus cash back of Earn 5% cash back this quarter and every quarter in changing categories like department stores, travel and more, enrollment is quick and easy. Additional cash back can be earned on other purchases, including 1% cash back on all other purchases. Cardholders are able to choose their payment due date and manage their account online, or on a tablet or smartphone. There is no annual fee.
Discover it® for Students with $20 Cashback Bonus.
- Generous…5% cash back in categories that change throughout the year up to the quarterly maximum with free and easy sign-up. And 1% cash back on all other purchases.*
- Plus a Cashback Concierge(SM) any time for a 1-on-1 online tour to help you get the most rewards based on how you use your card.
- Fair…No annual fee. No overlimit fee. No foreign transaction fee. No late fee on your first late payment. And paying late won’t increase your APR.*
- Human…talk to a real person any time with 100% U.S.-based service.
- Safe…Because you’re never responsible for unauthorized purchases with our $0 Fraud Liability Guarantee.
- Experience our cash rewards with $20 Cashback Bonus® when you make your first purchase within 3 months of approval.* Standard variable purchase APR*- 12.99% – 21.99%.*
- *Click “Apply” to see rates, rewards and other information
- Apply Now!
* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now” button, you can review the credit card terms and conditions on the issuer’s website.
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