5 Best Credit Cards for University Students

Below are the top 5 credit cards for university students studying abroad.

1. Bank of America Cash Rewards Credit Card for Students

The Bank of America Cash Rewards Credit Card for Students has several features that can help students manage their finances, including no annual fee and up to 3% cash back.

Secure chip card and digital wallet technologies, online and mobile banking account alerts, and optional overdraft protection are all features of the Bank of America Cash Rewards Credit Card for Students.

Other credit cards, on the other hand, provide larger rewards rates in certain areas. As a result, this card provides constant revenue on all online purchases.

Bank of America Cash reward credit card review

Review of the Bank of America Cash Rewards Credit Card for Students. The Bank of America Cash Rewards Credit Card for Students is great for student spenders, with tempting bonus categories and other advantages to help users develop good money habits.

2. Discover it Student Cash Back Card

The popular Discover it Student Cash Back is a one-of-a-kind student card that offers high cash-back benefits for a low annual fee of $0. Even if you have no credit history, you may be eligible.

  • Card Type: College student.
  • Annual fee: $0.

Bonus: INTRO OFFER: Discover is offering an unlimited cash back match. At the end of your first year, Discover will automatically match all of your cash back!

As a result, you could turn a $50 reward into a $100 cashback. Alternatively, you may turn $100 into $200. There are no restrictions on how much you can spend or how much you may earn. There was only a dollar-for-dollar match.

When you activate, you’ll get 5% cash back on up to $1,500 in spending per quarter in categories that rotate every three months, and 1% cashback on everything else.

APR: 0% intro APR on purchases for 6 months, 10.99 percent intro APR on Balance Transfers for 6 months, then 12.99 percent – 21.99 percent Variable APR thereafter.

There is no charge for international transactions.

3. Discover It Student Chrome Card

This student card offers 2% cash back on up to $1,000 in combined gas and restaurant expenditures per quarter, plus 1% on anything else.

The Discover it® Student chrome is a generous exception to many other student credit cards, with hefty rewards and no FICO credit history requirement.

The card has no annual fee and simple benefits, making it an excellent choice for students. On up to $1,000 in total quarterly transactions, it earns 2% cash back at petrol stations and restaurants, and 1% on all other purchases.

Its initial bonuses and high-grade prizes will help you stretch your student budget to cover a movie outing or a meal out. The Discover it® Student chrome is a standout among student credit cards.

  • Card Type: College student.
  • Annual fee: $0.

Bonus for registering: INTRO OFFER: Discover is offering an unlimited cash back match. At the end of your first year, Discover will automatically match all of your cash back!

As a result, you could turn a $50 reward into a $100 cashback. Alternatively, you may turn $100 into $200. There are no restrictions on how much you can spend or how much you may earn. There was only a dollar-for-dollar match.

4. Chase Freedom Student Credit Card

It earns 1% cash back on all transactions. You may also qualify for “Good Standing” benefits, a potential credit limit increase, and, eventually, access to a higher-tier Chase card if you use your card responsibly. Terms and conditions apply.

Because of its credit-building features, attractive incentives, and potential upgrade route to higher-end Chase cards, the $0-annual-fee Chase Freedom® Student credit card receives high grades for goods in its class.

While you must be a student to be eligible, the card’s underwriting is for people with poor or non-existent credit. It’s Chase’s only entry-level credit card.

Other Chase rewards cards, on the other hand, often demand good credit (FICO scores of 690 or more), which is a high bar for credit rookies to clear.

After you graduate, you may be eligible for “Good Standing” rewards, a potential credit limit rise, and maybe a product move to an even better Chase card if you use your card responsibly.

However, some student credit cards provide more continuous rewards, and this card has a foreign transaction fee, so it’s not ideal if you’re studying overseas.

  • Card Type: College student.
  • Annual fee: $0.

Bonus: $50 Bonus after first purchase made within the first 3 months from account opening.

Rewards: 1% cashback on all purchases.

5. Capital One Secured Credit Card

Applicants may qualify for a credit limit greater than their deposit, unlike other cards that demand a cash security deposit.

Obtaining the funds for a security deposit can be a significant barrier to obtaining a secured credit card, which is one of the most effective instruments for building or rebuilding credit.

One of NerdWallet’s favorite secured cards is the Capital One Platinum Secured Credit Card, which makes deposits a little less intimidating.

The Capital One Platinum Secured Credit Card is a good option for developing credit because it has no annual fee and a few features that are especially useful for persons trying to improve their credit score.

  • Card type: Secured.
  • Annual fee: $0.
  • Interest rate: The ongoing APR is 26.99% Variable APR.

Deposit requirement: Get a $200 credit line with an initial deposit of $49, $99, or $200, for those who qualify. You can deposit more money before your account opens to increase your credit limit up to a maximum of $1,000.

Rewards: None.

Foreign transaction fees: None.

After Graduation, What Should You Do With Your Credit Cards?

You’ll be more likely to be approved for regular, non-student credit cards with better rewards and perks after your credit score has improved to the well-to-excellent range.

Consider your alternatives with your student credit card once you graduate and start working (or move on to graduate school):

  • Continue to use it. In most circumstances, you can keep your student ID card after graduation. There’s no harm in keeping the account open and using it if there’s no annual charge on the card. A different card, on the other hand, might provide better benefits or a cheaper interest rate.
  • Upgrade it. Inquire with your issuer about switching your account to a different card via a so-called product change. This allows you to keep your account open while switching to a card that better meets your needs. This helps to maintain the duration of your credit history, which is good for your credit score.
  • Get a new one. If you’re paying an annual fee on a student card you don’t intend to keep and the issuer refuses to upgrade you, you’re usually better off asking for a better card and canceling the student card account once authorized.
  • Keep it, but put it away in a drawer. If you can’t (or don’t want to) upgrade the card but don’t want to pay an annual fee, it’s a good idea to leave the account open after applying for other cards. Your credit score will improve as a result.

The above are the best credit cards for university students I can recommend for you. Hope you got value, remember to share with others.