As a college student, managing your finances is crucial, and having a credit card can be a valuable tool for building credit and handling expenses. However, not all credit cards are created equal, and it’s important to find one that suits your needs. In this article, we will explore the best credit card options available for college students, taking into consideration their features, benefits, and potential drawbacks.

Discover it Student Cash Back

The Discover it Student Cash Back card is an excellent choice for college students looking to earn rewards while building credit. With this card, you can earn 5% cash back on rotating categories that change quarterly, such as restaurants, grocery stores, and gas stations, up to a quarterly maximum when you activate. Additionally, you’ll earn 1% cash back on all other purchases.

One of the standout features of this card is the Good Grades Reward, which gives you a $20 statement credit each school year your GPA is 3.0 or higher for up to the next five years. This incentive not only encourages academic success but also adds value to the card.

Furthermore, the Discover it Student Cash Back card has no annual fee, and as an added bonus, there is no late fee on your first late payment. This can be particularly beneficial for college students who are still learning to manage their finances responsibly.

Journey Student Rewards from Capital One

The Journey Student Rewards from Capital One is another top choice for college students. This card offers a straightforward rewards program and provides incentives for responsible credit use. You can earn 1% cash back on all purchases, and if you pay your bill on time, you’ll receive a boost to 1.25% cash back for that month.

Building credit is essential for students, and Capital One reports your credit history to the major credit bureaus, which can help establish a positive credit history when used responsibly. Additionally, after making your first five monthly payments on time, you may be eligible for a higher credit line, which can be advantageous as you progress through your college years.

This card does not charge an annual fee, making it a budget-friendly option for students. However, it’s important to note that Journey Student Rewards from Capital One has a higher interest rate compared to some other student credit cards. Therefore, it’s crucial to pay your balance in full each month to avoid interest charges.

Bank of America Cash Rewards Credit Card for Students

The Bank of America Cash Rewards Credit Card for Students is a versatile option that allows you to earn rewards based on your spending habits. With this card, you can earn 3% cash back in a category of your choice, such as online shopping, dining, or travel, and 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). All other purchases earn 1% cash back.

An appealing feature of this card is the potential for a 10% customer bonus when you redeem your cash back into a Bank of America checking or savings account. This means you can earn additional rewards simply by directing your cash back towards your banking relationship with Bank of America.

The Bank of America Cash Rewards Credit Card for Students also offers a 0% introductory APR for the first 12 billing cycles on purchases and balance transfers, providing some flexibility for students who may need to carry a balance for a short period. However, it’s crucial to note that a balance transfer fee applies.

Citi Rewards+ Student Card

The Citi Rewards+ Student Card is a unique credit card that offers a distinctive rewards program tailored to college students. With this card, you earn 2 ThankYou Points for every $1 spent at supermarkets and gas stations for the first $6,000 per year, and then 1 point per $1 spent thereafter. Additionally, you earn 1 ThankYou Point for every $1 spent on all other purchases.

One standout feature of this card is the “rounding up” feature, where every purchase is rounded up to the nearest 10 points. For example, if you make a $3 coffee purchase, you’ll earn 10 points. This feature can be an attractive way to maximize your rewards on small everyday purchases.

The Citi Rewards+ Student Card also provides a 0% introductory APR on purchases for the first 7 months, which can be helpful for students who need to make larger purchases without accruing interest in the short term. It’s important to note that after the introductory period, a variable APR will apply.

Conclusion

Choosing the right credit card as a college student can have a lasting impact on your financial journey. The Discover it Student Cash Back, Journey Student Rewards from Capital One, Bank of America Cash Rewards Credit Card for Students, and Citi Rewards+ Student Card are among the top credit card options available.

Consider your spending habits, rewards preferences, and financial goals when selecting a credit card. Remember to use credit responsibly, pay your balances in full each month to avoid interest charges, and take advantage of the benefits each card offers to make the most of your college experience while building a strong credit history.