This is an article you should read if you are a student who believes that all student credit card offers are the same. A line of credit for school costs and the like.
The truth is that each student should consider the long-term benefits of obtaining a credit card. Should a student, for example, acquire a credit card if they can work their way through school without borrowing a dime? What is the greatest form of credit card for students who already have a credit history?
So, in this article, we’ll look at the 10 best credit cards for students in 2022, taking into account a wide range of uses and objectives.
1. Capital One Quicksilver Rewards for Students:
The Capital One Quicksilver Rewards for Students credit card is a new credit card that just went live, and it’s a great choice if you want simplicity and cashback on a card with no annual fee. Capital one credit card is considered by experts as the best credit card for students in 2022.
In addition, you’ll get an unlimited 1.5 percent cash back on everything you buy, the highest flat-rate cashback of the cards on our best credit cards for college students list.
Furthermore, one of the best things about Capital One credit cards, including the Capital One Quicksilver Rewards for Students, is that you can use a virtual card number to pay for all of your online purchases.
Additionally, this extra layer of protection will keep your credit card safe, especially if you’re sharing a device with someone else.
2. Discover it, Student:
We’ll start with Discover’s Discover it Student credit card. Which is an all-purpose card that should be ideal for students trying to get their credit foot in the door. Discover it the student is also one of the best students credit cards in 2022.
Some website evaluations make a big deal about the balance transfer capability of this card. But for most first-year students, it’s a non-essential feature. Apart from the lack of a sign-up incentive, you can expect an APR of 15 to 25%, depending on your creditworthiness.
You must have a decent credit score. And discover offers 5% savings on their quarterly categories as normal. Discover will add $20 to your cashback bonus total if you achieve a 3.0 GPA by the end of the year.
3. Bank of America Cash Reward Credit Card for Students:
The Bank of America Cash Rewards Credit Card for Students allows savvy college students to earn a lot of extra cash by earning 3% cashback in one of their favorite categories. Bank of American cash reward credit card is considered one of the best credit cards for students, because of its numerous benefits.
Gas, online shopping, dining, travel, drugstores, and home improvement/furniture are among these categories. Furthermore, best of all, depending on your spending habits, you can change your category every month.
In addition, even on regular credit cards, this is a rare perk, so being able to maximize your cash back based on your spending habits is a huge plus. For example, if you have a month-long road trip planned, that would be the ideal time to switch your bonus category to gas and earn 3% cashback every time.
4. Discover it Chrome:
This card is different from the one mentioned before in that it is designed to help students who spend a lot of money on petrol and eating out. The term “a lot” refers to around $330 each month, which may or may not be beneficial to some students.
The Discover Student card has the same APRs and GPA bonuses, but the big benefit is getting 2% cashback instead of 1% on all those gourmet outings.
5. Secured Mastercard from Capital One:
If you can’t be approved for a student credit card designed for people with fair credit, a secured credit card like Capital One’s Secured Mastercard could be the answer. Although this card isn’t geared for students, there are no restrictions on who can apply. It is one of the best students’ credit cards in 2022.
Additionally, before you can use a secured credit card, you must first put down a cash deposit. The Secured Mastercard from Capital One has a $49, $99, or $200 refundable minimum-security deposit.
This ensures that the bank has your funds if you fall behind on any payments. The more money you put down as a security deposit, the larger your credit line will be.
Furthermore, once you’ve been approved for the card. You can recoup your initial deposit by acting responsibly, such as paying your bills on time.
Your account will be closely monitored, and the security deposit will be returned to you as a statement credit once the bank determines that your account is ready. Your security deposit will be refunded if you decide to close your account.
6. Chase Freedom Unlimited:
Because some above cards demand a decent credit score, why not include a card that isn’t exactly a student card in the mix? If you qualify, Chase Freedom Unlimited will reward you with 3% cashback on all purchases for the first year. Chase Freedom Unlimited is also on the list of best credit cards for students in 2022.
One distinction is that the Chase card’s base APR starts at 17 percent. Another disadvantage is that your cashback incentive is reduced to 1.5 percent after the first year. You can take advantage of this situation by getting this Chase card for a year and then switching to a Discover card after that.
7. Deserve EDU Master for Students:
Because the Deserve EDU Mastercard for Students isn’t a typical credit card.it has a slightly different approval process. Furthermore, if you’re an international student, you don’t need a social security number to apply for the card. So, you can apply even if you’re studying in the United States.
While the Deserve EDU Mastercard for Students only offers 1% cashback on every dollar spent. The additional features of this no-annual-fee card may more than compensate for the lower rewards rate. For starters, this card includes cell phone insurance, which can save you hundreds — if not thousands — of money throughout your academic career.
8. Wells Fargo Cash Back College Card:
The problem of APR is significant because you will almost certainly have student debt after four years of college. When it comes to credit cards, the smaller the annual percentage rate, the better.
Your Wells Fargo base APR starts at 13 percent and rises to 23 percent. Unlike the other cards on this list.
The 2% may not seem like much, but it will mount up over four or more years in college — either to your favor or to your detriment.
Even better, you don’t need a decent credit score to be approved for the card. To acquire the card, you must first open a Wells Fargo bank account. It’s an intriguing card worth investigating.
9. Petal 2 Visa Credit Card:
When it comes to approving applications, WebBank, which offers the Petal 2 Visa Credit Card, adopts an unconventional approach. Instead of relying solely on your FICO credit score to determine if you should be authorized for the card, Petal creates a “Cash Score” based on your banking history.
This takes your income, spending, and savings into account, so even if you’re a student with no income, your banking history can help you get approved.
Furthermore, you’ll also note that collecting rewards with this card is a little different from what you’re used to. In addition, For the first several months, you’ll get 1% cashback on all purchases. After six months of on-time payments, your rewards rate rises to 1.25 percent, and after 12 on-time payments, it rises to 1.5 percent.
Additionally, there are a few merchants where you can get 2% to 10% cashback. These bonus cash-back chances are updated regularly and may be found in the Petal app. Customers will also appreciate the fact that there are no annual fees, late fees, or foreign transaction fees with this card.
10. Capital One Journey Students Rewards:
This is on the opposite end of the APR spectrum from Wells Fargo on this list. With a fixed APR of 26.99 percent, this card can get a student into serious trouble if they fail to keep a low balance on their card. Capital one journey students reward card is also one of the best credit cards for students.
So, why would you recommend it? First, there is a 1% flat rate rewards benefit, which can be increased to 1.25 percent later.
Furthermore, The Journey card keeps things easy, so you don’t have to worry about meeting spending restrictions or falling into the appropriate calendar quarter to obtain greater cashback benefits.
In addition, if you make your first five payments on time, you may be eligible for a credit limit increase, which is something that not all the cards on this list provide.
11. Citi Rewards+ Student Card:
Consider this Citibank card if you enjoy rewards programs and plan to use them in the long run. This is the first card on the list to give a sign-up bonus. 15,000 bonus points after spending $1,000 in the first 90 days. It is also considered best student credit cards by students,
For the first 12 payment cycles, there is a 0% APR promotional offer, after which you will be charged the normal 15–25 percent APR. Those 15,000 points can go a long way toward future purchases at Amazon and Best Buy, for example.
12. Bank of America Travel Rewards Credit Card for Students:
The Bank of America Travel Rewards Credit Card for Students may be the right solution for you if you don’t want to worry about bonus categories and want a more straightforward approach.
In addition, no matter what you buy with this card, you’ll get 1.5 points for every dollar you spend. This is greater than the regular 1% cashback, but you’ll miss out on certain other cards’ bonus categories, which may earn you up to 5 times more.
Furthermore, it’s also worth noting that, unlike some other cards on our list, the Bank of America Travel Rewards for Students pays out in points rather than cash. While you may always cash in your points, you will lose some.
13. State Farm Student Visa Card:
If you are a student with a poor credit rating. There is still a chance for you to obtain a credit card that will reward you in addition to improving your credit rating.
The APR is similar to most of the cards on our list, ranging from 17 to 25%. If you have State farm insurance, you can get three points for every dollar you spend. Which fits in neatly with your monthly payments.
The disadvantage is that the points you earn cannot be exchanged for cash, but they may be used to pay for State FarmInsurance and other items. This card, if used appropriately, can help you regain credit before graduation, giving you a fresh start.
14. BankAmericard for Students:
This card stands out from the crowd since it allows kids who are unfamiliar with credit to apply. Furthermore, several other features make this card a good choice. All its benefits make it one of the best credit cards for students
Including the same APR range (15 percent — 25 percent) as cards that require good credit, no annual fee, and no penalty APR. It’s just simple credit building without the glitz.
15. Deserve Edu:
Last on our list of best credit cards for students is the Deserve Edu credit card. The international students among you have not been forgotten. The lack of a social security number and no credit history are two obstacles that come with being a foreign student.
Additionally, The Deserve Edu card has an alarming 20.99 annual percentage rate (APR). Which is lower than what some American students pay for other cards on this list. The card’s maximum credit limit is $5,000, which is higher than many American students will be able to obtain.
Conclusion
You’ll want to apply for a card that’s perfect for you because there are so many credit card alternatives for college students. But listed above are the 15 best credit cards for students in 2022.
You’ll have to consider where you stand in terms of credit history — if you have any — and what matters most to you in terms of advantages. In addition, If you’re a first-year college student with no credit history, consider the Capital One Secured Mastercard, Petal 2 Visa, or Deserve EDU Mastercard.
These three cards will greatly increase your chances of approval, and they will all assist you in improving your credit score by reporting your responsible activities — such as paying your payments on time — to all three credit bureaus.
FAQs
Unlike typical credit cards, student credit cards are tailored to college students with little or no credit history. When used wisely, a student card can help you establish credit and possibly earn benefits. Additionally, the average student card is unsecured, meaning the issuer does not need a deposit to open the account. Other characteristics that distinguish student credit cards from ordinary credit cards are. Credit limits are being reduced, with limited rewards and special benefits for students.
Credit cards are not out of reach for students who have no credit history. You could apply for, student credit cards. In addition to becoming an authorized user on a parent’s card. Credit cards that are encrypted. Credit cards for shopping. And alternative credit cards are available.
There are several benefits to having a card. And they include: building your credit, protecting against theft and fraud, and also earning rewards.
The most crucial issue for college students to consider is whether they are prepared to handle the burden. Students can improve their credit by using credit cards, but they must keep their balances low and pay bills and on time every month. Additionally, consider student and secured credit cards, which require little to no credit history.
You can narrow down your options by comparing APRs, security deposits, annual fees, and rewards programs. Furthermore, Look for credit cards that offer prequalification and don’t apply for too many at once. Your applications will result in hard inquiries, which might negatively impact your credit.
There are several benefits to having a card. And they include: building your credit, protecting against theft and fraud, and also earning rewards.
The most crucial issue for college students to consider is whether they are prepared to handle the burden. Students can improve their credit by using credit cards, but they must keep their balances low and pay bills and on time every month. Additionally, consider student and secured credit cards, which require little to no credit history.
You can narrow down your options by comparing APRs, security deposits, annual fees, and rewards programs. Furthermore, Look for credit cards that offer prequalification and don’t apply for too many at once. Your applications will result in hard inquiries, which might negatively impact your credit.
If you’re looking for a student credit card, you’ll need to be aware of these fees and terms to choose the ideal option. Some of these fees are how credit card interest works, APRs and how long will pay off a credit card balance take?
If you’re looking for a student credit card, you’ll need to be aware of these fees and terms to choose the ideal option. Some of these fees are how credit card interest works, APRs and how long will pay off a credit card balance take?
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