Best Student Credit Cards for Building Credit and Saving Money

Achieving financial independence is a common goal among students. Developing a solid credit history is essential for securing loans, insurance, and job opportunities. To build good credit, students should consider opening their own credit accounts instead of relying solely on parental authorized users. Using a student credit card for small purchases, paying bills promptly, and avoiding co-signers and multiple credit cards can positively impact credit scores.

Choosing a student credit card with low fees, reasonable APRs, and student-friendly benefits is important. Notable options include:

Capital One Journey Student Rewards: Ideal for students with decent credit, this card offers 1% cash back on all purchases with no category restrictions. Timely payments boost the cashback rate by 0.25%, and making five consecutive on-time payments increases credit limits automatically. Features include free FICO score tracking and credit management tools. There’s no annual fee, but late payments incur a $35 fee, and cash advances cost 3% or $10.

Discover it for Students: This card provides 1% cash back on all purchases, with select categories like gas and groceries earning 5% cashback up to $1,500 per quarter. The cashback doubles after one year of account activity, and students maintaining GPA above 3.0 can earn an extra $20 annually for up to five years. It has no annual fee, with a 6-month 0% introductory APR and no foreign transaction fees. Late payments cost $35, and cash advances are subject to fees.

Other suitable options include Discover it Chrome for Students, Upromise World MasterCard, and Citi ThankYou Preferred Card for College Students. Each offers various rewards and benefits tailored to student needs, making them great tools for developing credit while saving money.