As a student, you're probably always on the lookout for ways to save money, build your credit score, and make smart financial decisions for your future. One excellent tool to help you achieve these goals is a credit card designed specifically for students. In this article, we'll explore the best student credit cards recommended by Nerdwallet and discuss the unique benefits they offer to help you make an informed decision on which card is the right fit for you. So, let's dive in and learn how to make those college years count – towards a better financial future!
Nerdwallet Best Credit Cards For Students Table of Contents
1. Discover it® Student Cash Back
The Discover it® Student Cash Back card is a popular choice for students looking for a combination of cashback rewards and credit-building opportunities. Here's what you can expect:
- No annual fee
- 5% cashback on rotating categories (up to $1,500 in purchases each quarter)
- 1% cashback on all other purchases
- Cashback Match at the end of your first year – Discover will automatically match all the cashback you've earned
- No foreign transaction fees
- FICO® Credit Score tracking for free
Why it stands out:
The Cashback Match feature is unique to Discover and makes the card an attractive option for students who want to maximize their rewards. Plus, with no annual fee and free FICO score tracking, it's a great tool for building credit with responsible use.
2. Chase Freedom® Student
Chase Freedom® Student is another excellent choice for students looking to build credit and earn rewards while doing it. The card offers:
- No annual fee
- $50 sign-up bonus after your first purchase
- 1% cashback on all purchases
- $20 Good Standing Rewards for up to 5 years if your account remains in good standing
- Credit limit increases after making 5 monthly payments on time within the first 10 months
Why it stands out:
The $20 Good Standing Rewards is a unique feature that encourages responsible credit behavior. Plus, the regular credit limit increases and sign-up bonus make it an attractive card for building credit and earning a little extra at the same time.
3. Bank of America® Cash Rewards for Students
The Bank of America® Cash Rewards for Students card allows you to customize your cashback rewards based on your spending habits. The features include:
- No annual fee
- $200 online cash rewards bonus after spending $1,000 in the first 90 days
- 3% cashback in a category of your choice (including gas, groceries, dining, or online shopping)
- 2% cashback at grocery stores and wholesale clubs (up to $2,500 in combined spending per quarter)
- 1% cashback on all other purchases
- Access to your FICO® Score for free
Why it stands out:
The customizable cashback categories make this card a great fit for students who want more control over their rewards. Plus, the generous sign-up bonus and no annual fee make it a solid choice for college students.
Nerdwallet Best Credit Cards For Students Example:
Imagine you're a college student who enjoys dining out with friends and wants to start building credit. The Bank of America® Cash Rewards for Students card would be a perfect fit. You could choose the dining category for your 3% cashback, earning rewards every time you enjoy a meal out. In your first 90 days, you'd aim to spend at least $1,000 to get the $200 online cash rewards bonus. With responsible use and on-time payments, you'll not only rack up rewards but also improve your credit score along the way.
As you embark on your college journey, don't forget to make smart financial decisions that will benefit you in the long run. Picking the right student credit card that suits your needs and spending habits is an essential step, and Nerdwallet's recommendations offer excellent choices to get you on the path to financial success. So, go ahead, apply for the right card, and start making those college years count!
If you found this article helpful, be sure to share it with your friends and explore the other insightful guides available on Flik Eco. Together, let's build a brighter financial future!
