Best Credit Card Offers For Students
Disclosure: Easy Travel Points, LLC has partnered with CardRatings for our coverage of credit card products. Easy Travel Points, LLC and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. This compensation may impact how and where links appear on the site. This site does not include all card companies or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Making the decision to get your first credit card is a significant one. This will be one of the first steps you take on your financial journey. It will help you begin to establish a credit history and lay a foundation to help you with future financial decisions. Let me help you narrow down the choice to a few options that I think are worth considering.
Recently, my oldest son wanted to get his first credit card. So, the two of us sat down, had a conversation about credit, then reviewed several of the options out there. Since that day, I’ve had several friends ask me which card I would recommend for their kids to get as their first credit card.
I’ve decided to put all of my “fatherly advice” and my recommendations into this post. I’m sure there are countless others in this same situation so I hope you find this helpful.
Credit Card Ground Rules
Making the decision to open your first credit card is an important one. If used wisely, this can help you establish your credit and get better rates in the future on auto and home loans. However, if you use a credit card incorrectly, it can make your life more difficult. With that said, here’s my advice to you if this will be your first credit card.
Pay In Full – Pay your credit card balance in full EVERY month. In my opinion, credit cards are for convenience and security. This is NOT free money to go buy something you can’t afford. If you aren’t able to pay your balance in full each month, STOP using your credit card!
Pay On Time – One of the biggest things that can affect your credit score is paying your bill late. Set up autopay, email/text alerts or any other system you can come up with to pay your bill on time. Don’t ruin your credit score because you’re forgetful.
Get Help – If you ever find yourself getting behind on your bills, get help. I don’t mean, just ask people for money. I mean, talk to a friend, parent or someone else you trust who is GOOD with money and ask them for advice. Don’t let a bad situation snowball into a terrible situation because you were too embarrassed to ask for help.
With all that said, here are my recommendations for your first card.
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My Take – This is the card that I ultimately recommended my son get. This card is geared towards students, so the probability you’ll get approved is higher even though you likely don’t have any credit history.
Welcome Bonus – bonus_miles_full
Highlights – I really like this card because it comes with a small bonus, no annual fee and bonus earning categories on things students typically purchase. Plus, you can earn an unlimited 3% cash back on things like dining, entertainment, popular streaming services and grocery stores (excluding Target and Walmart), and 1% on all other purchases. It also doesn’t charge any foreign transaction fees.
Annual Fee – annual_fees
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My Take – This card is very similar to the one above. This is also a credit card that is designed for students with no annual fee. There aren’t a lot of frills but that’s not what should be driving this decision.
Welcome Bonus – bonus_miles_full
Highlights – I like this card as well because it comes with a small bonus and no annual fee. You’ll earn a flat 1.5% cash back on all eligible purchases. I also love that this card doesn’t charge any foreign transaction fees if you’re traveling abroad.
Annual Fee – annual_fees
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My Take – This card is not specifically marketed as a “student” card but it is for those who are trying to build their credit. In case you are declined by Capital One, I wanted to give you another option with a different bank. I love Chase for their travel rewards cards, so starting and maintaining a good relationship with Chase is never a bad thing in my book.
On the Chase website, it does say that if you have at least $250 in any Chase checking or savings account, it can increase your chances of being approved for the card. So if you already have an account with them, this could be a good option for you.
Welcome Bonus – bonus_miles_full
Highlights – I like this card as well because it comes with a small bonus and no annual fee. You’ll earn a flat 1.5% cash back on all eligible purchases.
Annual Fee – annual_fees
Final Thoughts
I just wanted to wish you the best as you begin your financial journey. Remember, credit cards can be a very useful tool if used correctly. Take time your time and go slow. And if you have any questions along the way, leave me a comment below and I’d be happy to answer them.
Disclosure: Easy Travel Points, LLC has partnered with CardRatings for our coverage of credit card products. Easy Travel Points, LLC and CardRatings may receive a commission from card issuers. Some or all of the card offers that appear on the website are from advertisers. This compensation may impact how and where links appear on the site. This site does not include all card companies or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Disclosure: Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.