Introduction
As a student, managing finances wisely is crucial. A student credit card can be a great tool to build your credit history while enjoying rewards and benefits. However, many credit cards come with high annual fees that can add to your expenses. The good news is that there are excellent student credit cards that offer rewards and come with no annual fees.
In this blog post, we will explore the top five student credit cards that provide valuable rewards while charging no annual fees. Whether you’re looking for cashback, travel rewards, or discounts, these cards can help you make the most of your purchases while setting you on the right path for financial success.
1. Discover it® Student Cash Back
Overview
The Discover it® Student Cash Back credit card is an excellent choice for students looking to earn cashback rewards without paying an annual fee. This card offers rotating cashback categories, allowing students to maximize their rewards in various spending areas throughout the year.
Rewards & Benefits
One of the biggest perks of this card is the cashback rewards program. Cardholders earn 5% cashback on rotating categories (such as gas stations, grocery stores, restaurants, and Amazon) each quarter, up to a specified limit. Additionally, they receive 1% unlimited cashback on all other purchases.
Another standout feature is the Cashback Match program. At the end of the first year, Discover matches all the cashback you’ve earned, effectively doubling your rewards.
Why It’s Great for Students
- No annual fee, making it budget-friendly.
- Cashback Match feature doubles your rewards in the first year.
- Rotating categories provide higher cashback rates on select purchases.
- No late fee on your first missed payment.
- Free access to your FICO® credit score to track your credit-building progress.
2. Chase Freedom® Student Credit Card
Overview
The Chase Freedom® Student Credit Card is a solid choice for students who want to build their credit while earning rewards. It offers a simple yet effective rewards program, making it an excellent option for those new to credit cards.
Rewards & Benefits
With this card, students earn 1% cashback on all purchases without worrying about rotating categories or spending limits. Additionally, cardholders receive a $50 bonus after making their first purchase within the first three months.
Another advantage is the automatic credit line increase after making five on-time payments within ten months, which can help build credit responsibly.
Why It’s Great for Students
- No annual fee, making it a cost-effective choice.
- Straightforward cashback program with no rotating categories.
- $50 sign-up bonus for new cardholders.
- Responsible usage can lead to an increased credit limit.
- Free credit score access to monitor credit growth.
3. Capital One Quicksilver Student Cash Rewards Credit Card
Overview
For students looking for a hassle-free cashback program, the Capital One Quicksilver Student Cash Rewards Credit Card is a great option. It offers unlimited cashback on every purchase, making it ideal for those who want consistent rewards without tracking spending categories.
Rewards & Benefits
This card provides 1.5% unlimited cashback on all purchases, making it one of the best flat-rate student credit cards available. Additionally, there are no foreign transaction fees, making it a great choice for students who travel or study abroad.
Other perks include automatic consideration for a credit limit increase after six months of responsible use and complimentary fraud protection.
Why It’s Great for Students
- No annual fee, keeping costs low.
- Unlimited 1.5% cashback on all purchases.
- No foreign transaction fees, ideal for international students or travelers.
- Opportunity for a credit limit increase with responsible usage.
- Fraud protection and security features for added safety.
4. Bank of America® Travel Rewards for Students
Overview
The Bank of America® Travel Rewards for Students credit card is perfect for students who enjoy traveling. Unlike other student credit cards, this one focuses on travel-related rewards, making it ideal for students who frequently go on trips or study abroad.
Rewards & Benefits
This card offers 1.5 points per dollar spent on all purchases, with no limit on how many points you can earn. The points can be redeemed for travel expenses such as flights, hotels, and rental cars.
Additionally, new cardholders can earn a 25,000-point bonus after spending $1,000 in the first 90 days, which is equivalent to a $250 travel credit.
Why It’s Great for Students
- No annual fee, making it budget-friendly.
- 1.5 points per dollar on all purchases.
- 25,000-point welcome bonus for new cardholders.
- No foreign transaction fees, making it excellent for international use.
- Points never expire, giving students flexibility in redeeming rewards.
5. Deserve® EDU Mastercard for Students
Overview
The Deserve® EDU Mastercard is an excellent option for international students who may not have a Social Security Number (SSN). This card helps students build credit while offering valuable rewards and benefits.
Rewards & Benefits
This card provides 1% unlimited cashback on all purchases, along with an Amazon Prime Student subscription reimbursement after spending $500 in the first three billing cycles.
Additionally, international students can apply without an SSN, making it more accessible to a wider range of students.
Why It’s Great for Students
- No annual fee, making it affordable.
- 1% unlimited cashback on every purchase.
- Free Amazon Prime Student membership for a limited time.
- No SSN required for international students.
- Includes cell phone protection and fraud liability protection.
Conclusion
Choosing the right student credit card can help you build your credit while enjoying valuable rewards. The Discover it® Student Cash Back is great for rotating cashback categories, while the Chase Freedom® Student Credit Card offers a straightforward approach with a sign-up bonus. The Capital One Quicksilver Student Cash Rewards is ideal for unlimited cashback, and the Bank of America® Travel Rewards for Students caters to travel lovers. Lastly, the Deserve® EDU Mastercard is an excellent choice for international students.
By selecting a credit card that aligns with your spending habits and financial goals, you can maximize rewards while building a strong credit history. Always remember to use your credit card responsibly by making on-time payments and keeping your credit utilization low to ensure a healthy financial future.