Credit cards for college students has always been a hot button topic. Some advocate that credit cards are evil and providing them to college students is an unethical practice. Others would argue that offering credit cards to young adults allows for the management of finances at a young age, thus preparing them better for when they’re off on their own.
Regardless of what side of the fence you sit, educating students about credit cards is extremely important. If you are a student and need a credit card to make your everyday purchases, we have a great list of credit cards for you to consider below. Each credit card has its advantages, but there’s one that really sticks out as the best.
Citi Forward® Card for College Students – The Citi Forward Card for College Students is the only student credit card on the market today that rewards students for their good payment behavior. Students can earn 100 bonus Thank You points each billing period that you pay on time and stay under your credit line. You also earn 1,000 points after you sign up for paperless statements within the first 3 months of account opening. And a cosigner is not required. The best student intro offer can also be found on the Citi Forward Card for College Students with a 0% intro APR on purchases for seven months.
In terms of rewards, it’s tough to beat the Citi Forward Card for College Students. You’ll also earn 5x Thank You points for every dollar you spend on restaurants, books, movies and music and one point on all other purchases. The Citi Forward Card for College Students carries no annual fee and a variable APR of 13.99% to 22.99% based on creditworthiness. Finally, because it is a Citi credit card, no cosigner is required!
Discover® Student Mix Tape Card – If you find yourself spending a lot of money, then the Discover Student Mix Tape Card might be the card for you. Students will earn 0.25% cash back on their first $3,000 in purchases, and up to 1% cash back after that. Discover also offers the chance to earn 5% Cashback Bonus* on rotating categories throughout the year and carries no annual fee. Discover Student Mix Tape cardholders receive an intro APR of 0% for nine months on purchases and as you can see from the picture, it’s the coolest looking card in the bunch (although that should NOT affect your decision).
Citi® Dividend Platinum Select® Card for College Students – A close runner up to the Citi Forward Card for College Students, the Citi Dividend Platinum Select Card for College Students is the best cash back credit card on our list. Cardholders earn 5% cash back on purchases made at supermarkets, drugstores, gas stations convenience stores and utilities (including cable) for the first six months (1% thereafter). All other purchases will earn 1% cash back and there is an opportunity to earn 2% cash back on rotating categories throughout the year. The Citi Dividend Platinum Select Card for College Students provides and intro offer of 0% APR on purchases for seven months, carries no annual fee and has a regular purchase APR of 13.99% to 21.99% (variable).
Orchard Bank Classic MasterCard – Not a typical student credit card, the Orchard Bank Classic MasterCard is designed for those with very poor credit. Sometimes, college students rack up a good amount of student loans, which can hurt their credit score. If you’re in need of rebuilding your credit, then this is the card for you. You won’t find any rewards program and there is an annual fee of $0 – $59 the first year, $35 – $59 per year thereafter* to obtain the Orchard Bank Classic MasterCard. There is a very high APR but if you cannot obtain credit elsewhere, this card just might be your only option. Make sure you always pay your balance in full and the fees will be limited to just one per year.
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I am probably going to try to avoid credit card for awhile
I think this is a good article as far as giving info on credit cards that are great for students to get. But I would like to say this, being a college grad I would stay away from credit cards all together. This is part of the reason for my credit card debt now. And for what a t-shirt and a water bottle, that was the incentives they were giving out back in 98 for signing up for a credit cards. I’m not sure what they are giving today, maybe gift cards.
I’m currently in college and have applied for two credit cards. First i applied for discovery student credit card and was denied because i have no credit. When i told the lady that’s why i needed a credit card she said you do not have student loans to which i replied no i’m on scholarship. Then i went to bank of america for a secured card and was denied because i did not make enough. I really want to start building credit so i’ll have a credit history when i graduate, move out on my own and can buy furniture. How will i do that if i keep getting denied?
Both my parents either have bad credit or no credit cards they can sign me on to as well. :/