Getting started in the world of personal finance can be overwhelming, but getting your hands on a student credit card doesn't have to be! In this article, we take a look at the best student credit cards according to Nerdwallet, breaking down the details and benefits of each card to help you find the perfect match for your financial goals. Let's dive in!
Nerdwallet Credit Cards For Students Table of Contents
1. Discover it Student Cash Back
2. Citi Rewards+℠ Student Card
3. Bank of America® Cash Rewards Credit Card for Students
4. Capital One QuicksilverOne Student Cash Rewards Credit Card
1. Discover it Student Cash Back
- 5% cash back on rotating categories each quarter
- 1% cash back on all other purchases
- No annual fee
- Cashback Match: Discover will match all cash back earned in your first year
Why it's perfect for students:
The Discover it Student Cash Back card offers a fantastic rewards program that is perfect for students looking to maximize their spending habits. With rotating categories each quarter, such as gas stations, groceries, and restaurants, you can earn 5% on essential purchases - ideal for busy students juggling classes, work, and a social life.
2. Citi Rewards+℠ Student Card
- 2 ThankYou Points per dollar spent at gas stations and supermarkets (up to $6,000 per year)
- 1 ThankYou Point per dollar spent on all other purchases
- No annual fee
- Points round up to the nearest 10 points on every purchase
Why it's perfect for students:
The Citi Rewards+℠ Student Card offers a unique points system that rounds up your earned points to the nearest 10, maximizing your rewards on every purchase. If you frequently spend at gas stations and supermarkets, this card is a no-brainer.
3. Bank of America® Cash Rewards Credit Card for Students
- 3% cash back on a category of your choice (e.g., gas, online shopping, dining)
- 2% cash back at grocery stores and wholesale clubs
- 1% cash back on all other purchases
- No annual fee
- $200 cash rewards bonus after making $1,000 in purchases within the first 90 days
Why it's perfect for students:
The Bank of America® Cash Rewards Credit Card for Students gives you the flexibility to choose a 3% cash back category that suits your spending habits. Add on the bonus cash rewards after meeting the spending requirement, and this card becomes an attractive option for students.
4. Capital One QuicksilverOne Student Cash Rewards Credit Card
- 1.5% cash back on all purchases
- No rotating categories or spending caps
- $39 annual fee
- Access to a higher credit line after making the first six monthly payments on time
Why it's perfect for students:
The Capital One QuicksilverOne Student Cash Rewards Credit Card offers straightforward, unlimited rewards on all purchases, making it hassle-free to earn cash back. The card's access to a higher credit line after timely payments is also beneficial to students who want to build their credit scores.
Nerdwallet Credit Cards For Students Example:
So, let's say you spend roughly $200 a month on gas and groceries. If you opt for the Citi Rewards+℠ Student Card, you'll earn 400 ThankYou Points per month on those expenses. Plus, since every purchase's points round up to the nearest 10, you get even more rewards for smaller purchases. If you use your card for five $3 coffee purchases, you'll earn 50 points instead of just 15!
Choosing the right student credit card is all about understanding your spending habits and financial goals. Each of the Nerdwallet credit cards for students mentioned in this article offers unique benefits and features to match your needs as a millennial. Share this guide with your peers, and don't forget to explore more financial tips and advice here on Flik Eco!
