According to a recent study conducted by Sallie Mae, 57% of students have at least one credit card. Of those who do have a credit card, the average student carries at least five cards. As a young saver, that’s quite an impressive way to start your financial life.
While some students might find it easy to get added to their parents’ accounts as an authorized user, others don’t have that luxury. And, building credit with zero credit history can sometimes be difficult; this is why banks often offer exclusive deals on student credit cards for students between the ages of 18 and 24.
What are the easiest credit cards to get for students? We’ve picked our top five.
Easiest Credit Cards to Get for College Students
Discover’s secured credit card ranked as one of the best credit cards for no credit. And, the Discover it Student Cash Back card is just as packed with perks. With the chance to earn 5% cash back at certain retailers (such as Amazon.com, grocery stores, and restaurants), this is easily one of the best cash back cards for college students.
On top of that, the Discover it Student Cash Back credit card comes with no annual fee and student perks such as the ability to earn cash for good grades; keep your GPA above 3.0, and get $20 per school year. There’s also 0% APR for the first six months, which allows you to ease into managing your credit and expenses.
Already have a checking account or savings account with Wells Fargo? Ask about signing up for their Cash Back College Card. It’s one of the easiest cards to get for college students currently enrolled in classes and it offers one of the lowest APRs among student credit cards; it’s 0% for the first six months and then 11.15% after that.
Earn 3% cash rewards when you make gas, grocery, and drugstore purchases for the first six months plus 1% cashback on all other purchases. Enjoy zero annual fees as you build your credit with this Wells Fargo credit card.
Bank of America is home to numerous great rewards credit cards; if you’re going to continue your financial journey after college by applying for a rewards credit card, it makes sense to start now with the Cash Rewards Credit Card for Students. With this card, you can earn 3% cash back in a (college-focused) spending category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.
The card offers the same 0% APR introductory periods as the previously mentioned cards along with no annual fee and no transaction fees. The Bank of America mobile banking app is easy to access as well and offers a host of other digital tools to help you manage your finances in college.
In terms of the easiest credit cards to get for students, it’s hard to beat the Deserve EDU Mastercard for Students. Due to the fact that Deserve is an online bank, they’re able to use their own underwriting process to evaluate applications based on alternative criteria. This makes it easier for international students and students with no credit to be approved.
Students with an EDU Mastercard from Deserve can access Amazon Prime Student for a year, receive1% cashback on all purchases, and enjoy a $0 annual fee. Studying abroad? No problem. there are no international transaction fees.
Capital One does a great job of rewarding positive financial behavior with the Journey Student Rewards credit card. Earn 1% cash back on all purchases; boost that up to 1.25% if you pay on time each month. On top of the $0 annual fee and no foreign transaction fees, you can also enjoy automatic credit line reviews after just six months of using the card.
Aside from being one of the easiest credit cards to get or students, you’ll be able to enjoy all of the other standard credit card perks, such as travel insurance, auto rental collision damage waivers, and more. Need help staying on top of your finances? Text Eno, the bank’s 24/7 smart bot.
Watch Your Credit Grow
If you’re just getting started on your credit journey, it’s a great idea to begin monitoring changes in your credit. The easiest cards to get for students all make it easy to build your credit slowly over time while also earning cash back rewards that’ll put more money back in your pocket.
Download Float to help you keep track of your credit score and invite your friends to do the same. If you’re a competitive college student, it’s a great way to share credit scores, ranges, or simply emojis with your friends and family as a way to see where you’re at compared to others.
The best part? You’re in control of how much you share and get free access to Float’s other cool financial tools. Download Float today to get started.