Best Credit Cards For Graduate Students

Hey there, graduate students! We know how difficult it can be to manage your finances while pursuing a higher education. With so many expenses, from tuition fees to rent, it's crucial to make smart financial decisions. One of the keys to mastering your finances is choosing the right credit card that fits your unique needs and budget. So, we've prepared this article to guide you through the best credit cards for graduate students, and help you make the right choice for your wallet and future.

1. Discover it® Student Cash Back Card

Perks and Highlights:

• No annual fee
• 5% cash back on rotating categories (up to $1,500 per quarter)
• 1% cash back on everything else
• No credit history needed
• Get a $20 statement credit each school year your GPA is 3.0 or higher (for up to five consecutive years)

Why It's a Great Option for Graduate Students:

The Discover it® Student Cash Back card allows you to earn cashback while building credit history. If you have a relatively low or no credit score, this card is a great fit to start building your credit while enjoying rewards.

2. Capital One QuicksilverOne Cash Rewards Credit Card

Perks and Highlights:

• $39 annual fee
• 1.5% cash back on every purchase
• Access to a higher credit line after making the first five monthly payments on time
• No foreign transaction fees

Why It's a Great Option for Graduate Students:

This card is perfect for students looking for a simple cashback program and those who occasionally travel for studies or leisure. The low annual fee can easily be offset by regular spending.

3. Bank of America® Travel Rewards Credit Card for Students

Perks and Highlights:

• No annual fee
• 1.5 points per $1 on every purchase
• 25,000-point bonus after spending $1,000 within the first 90 days
• No foreign transaction fees

Why It's a Great Option for Graduate Students:

If you're a wanderlust-filled student, this card offers the best of both worlds: travel rewards with no annual or foreign transaction fees. Use accumulated points for flights, hotels, and more, making your exploration dreams come true.

Best Credit Cards For Graduate Students Example:

Imagine you're a graduate student who is a diligent spender and always pays off your balance in full. You have a monthly budget of $1,000, which is spent on a mix of groceries, dining out, online shopping, and other expenses. Let's say you choose the Discover it® Student Cash Back card.

Every quarter, you'll earn 5% cash back on rotating categories up to $1,500. One quarter might be groceries, so for that period, you'll earn $75 cash back (5% of $1,500). In other categories, you earn 1% cash back. So, spending $12,000 in a year will net you $120 (1% of $12,000) cashback on regular purchases. Add that to the $300 (5% x 4 quarters = $300) cashback from rotating categories, and you'll earn a total of $420 cashback in a year.

Now that you're armed with the knowledge of some of the best credit cards for graduate students, it's time to make a decision that best suits your financial needs and lifestyle. Remember, it's crucial to always pay your balance in full and on time to avoid interest and build a strong credit history. So go ahead, explore other comprehensive guides on Flik Eco, and don't forget to share this priceless information with your fellow graduate students. Together, let's venture into a financially savvy future!