Best Student Credit Cards for September 2024 | Bankrate (2024)

Building credit early with a student credit card grants you a crucial financial headstart. You can build credit early in your adult life by getting into the routine of using money responsibly while you set yourself up for success in the future. When it comes time to apply for things like car loans, apartments, mortgages and personal loans, you’ll be grateful for the experience.

How building credit as a student is beneficial

You’ll learn valuable lessons about budgeting, making timely payments and understanding the impact of debt by managing a credit card. These experiences lay the groundwork for a lifetime of financial decision-making, which is essential for long-term financial stability and future financial opportunities.

A strong credit history can translate into lower interest rates, higher credit limits and better loan terms, saving you money in the long run on some of life’s milestones, like renting an apartment, buying a car or starting a business.

It can be hard to determine the best way to start building a credit history, especially as a student. When asked if student credit cards were worth getting over a standard unsecured credit card, a Reddit user in the r/CreditCard community says “what matters is that you start your OWN revolving credit history.”

A brief or absent credit history will be a large hurdle for many students applying for unsecured credit cards. According to one user, “chances are you'd be denied for ‘insufficient revolving credit history’ if you applied [for an unsecured card].” Still, student-specific credit cards have better approval odds if you don’t have much credit history.

This opinion is shared in the r/PersonalFinance community, too, where another user writes, “You should open your own credit card to start building independent credit history if you ever need to take yourself off as an [authorized user] on your parents' card.” Several reasons can cause your time as an authorized user to end. However, if you open your own card as soon as possible, you can still establish a lengthy credit history without relying on someone else's account.

Although you may not be able to open a decent credit card right away, a student card can be a gateway to better rewards and higher credit limits. If you’re interested in exploring your options, check which ones you’re a potential match for by using tools like Bankrate’s CardMatch™.

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Be sure to check the issuer's website/terms and conditions for all up to date content. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

Here are some tips to help you narrow down your options and pick the right student credit card for you:

• Make sure you qualify: Issuers typically reserve student credit cards for anyone enrolled in college courses with little or no credit history. However, check for additional requirements, such as part-time or full-time status or if two-year institutions are eligible.
• Know your credit score: Knowing your credit score can help you avoid applying for a credit card you won’t qualify for or a card you’re overqualified for.
• Look for credit-building tools: The best student cards have built-in features that help you build credit. Features like reporting to all three credit bureaus, offering credit line increases and providing free credit reports are features you should look for.
• Prioritize features that matter to you: Most student cards have student-centric perks like purchase protection or the chance to earn cash back on your purchases.
• Consider your interest in studying abroad: You’ll want a card that doesn’t charge foreign transaction fees if you study abroad. You should also check if merchants will accept the card at your destination since not all card networks are widely accepted.
• Be aware of all fees: Credit cards come with their own set of credit card fees. It’s easy to avoid them if you pick the right card and use it responsibly.
• Explore cards with upgrade potential: Many student cards have a “graduated” version you could upgrade to once you’re ready to move beyond student credit cards. If you upgrade with the same issuer, you could skip putting in a new application and avoid a hit to your score.

How a Bankrate expert chose a student credit card

Former Bankrate editor Ashley Parks was reluctant to apply for her first credit card. But she’s grateful for her student card because it enabled her to start building credit early — and she’s still reaping the benefits today.

“I didn’t put a lot of thought into choosing my student card when I was younger because I was afraid of credit cards and lacked a lot of knowledge about these products at the time. As a result, I missed out on some perks, but I still see some benefits from building my credit early. Thanks to my long credit history and track record of responsible habits, it's been easier to apply and get approved for credit cards with higher credit limits and better reward rates.

I also inadvertently picked a student card with a graduated version. I easily made the transition from the Discover it® Student Chrome to the Discover it® Chrome, which came with better reward rates and a much higher credit limit. I’m glad I faced my fears and got my student card. I’m still seeing the choice pay off seven years later.”

— Ashley Parks, Former Bankrate editor

Our data: Are flat-rate or bonus-category cards better for students?

College is a great time to try new things and take (reasonable) risks, but that’s not an ideal approach to finances.You may feel credit cards are too overwhelming or you aren’t eligible for the card you want just yet.

Whether you need help gaining access to credit or want to avoid dealing with the disadvantages of using a credit card, you have several alternatives that can help. Some of the most common alternatives to student credit cardsinclude:

• Secured credit cards: These cards require a security deposit but have more safeguards than a traditional credit card.
• Alternative credit scoring models: Tools like UltraFICO and Experian Boostlook at aspects of your finances aside from credit history to help establish your credit score.
• Becoming an authorized user: You’ll receive a card connected to the primary cardholder's account. You can use this card to access the authorized user’s credit line, but only the authorized user is responsible for payments.

When evaluating the best cards for students, we consider a mix of factors, including how cards score in our proprietary card rating system and whether cards offer features that make it easy to build credit history while minimizing costs.

We analyzed over 50 of the most popular cards designed for students and rated each based on its cost, APR, credit-building features and more to determine whether it belonged in this month’s roundup.

Here’s a look at how our rating methodology breaks down for student credit cards:

• Ongoing cost45%

• Perks 35%

• Introductory offer10%

• Customer experience10%

Brendan Dyer holds a Master of Fine Arts in Journalism from Western Connecticut State University and worked previously as a content editor for Regional News Network, a hyper-local…

Courtney Mihocik is an editor at Bankrate Credit Cards and CreditCards.com specializing in credit card news and personal finance advice. Previously, she led insurance content at…