Easy Approval Student Credit Cards of 2023

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College students often face a labyrinth of doubts when it comes to their financial future. While in the thick of it, keeping track of your credit can be difficult. Banks, on the other hand, aren’t that cooperative when it comes to providing students with regular credit cards. The reason being students lack stable sources of income and thus, are prone to default, making them less-than-ideal candidates for the best student credit cards.

Now, meet the student credit card. These college student credit cards are perfectly designed to cater to a student’s needs and help them learn credit management. Although, it’s best to note that the Credit Card Act of 2009 states that credit cards cannot be issued to anyone under 21, without an independent source of income, unless a parent/guardian cosigns with their credit cards for students. Getting student credit cards with no income can put you in a debt cycle. So, it is always wise to get a parent or a guardian to co-sign.

The credit card market provides numerous choices for students. Let’s look at some of the best student credit cards available now.

Comparison Table

Choosing a credit card when you’re a student can come with some complications, especially when you are comparing your options. Here are the best student credit cards no credit options for you to choose from:

Best 10 Student Credit Cards

1. Discover it® Student Cash Back

If you’re a student with an average or low credit score, this is the perfect choice for you. Discover it Student cashback is designed for students to earn cashback and rewards with every purchase while helping them build good credit history. This college student credit card has no annual fee, no penalty APR, and up to 5% cashback rewards. There are no limits on minimum spending or maximum rewards. Moreover, you can get up to 1%-5% cashback on all purchases. There are no late fee charges on your first late payment, making it one of the best student credit cards.

Pros

• First-year cash-back.
• You can earn up to 5% cashback rewards.
• No annual fee.
• No first late payment fee is applied

Cons

• Low, i.e., 1% base reward rate.
• Bonus categories need to be activated quarterly.

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

This card is ideal for students studying abroad, as it is a value-for-money card. Bank of America Travel Rewards Credit Card for Students offers 1.5 points on every $1 spent everywhere, along with 20,000 welcome bonus points. You can also gain 3 points for every $1 spent on eligible travel booked via the Bank of America® Travel Center. You need to pay $0 in Foreign Transaction Fees.

Additionally, you get numerous other options to redeem rewards and avail of discounts. This student-friendly credit card design is very useful for credit building. However, you need to have a decent credit score to qualify for this card, and some rewards are limited to some customers.

Pros

• Zero foreign transaction fee.
• Gain 1.5 points on every $1 spent.
• You can get 3 points per $1 spent on eligible travel, booked through the Bank of America® Travel Center.
• Welcome, Bonus applicable.
• Multiple options to redeem rewards.
• Points don’t expire.

Cons

• High penalty APR and a late fee are charged.
• High balance transfer fee.

3. Bank of America® Unlimited Cash Rewards Credit Card for Students

The Bank of America® Unlimited Cash Rewards student credit card offers travel and cash rewards at a lower interest rate. They have credit cards for students with various features and rewards. If you’re looking for college student credit cards, this is your perfect choice. With the Bank of America® Unlimited Cash Rewards student credit card, you can earn unlimited 1.5% cash rewards on all purchases with no annual fee.

This card comes with no annual fee; you can earn a good amount of solid rewards as well. There is no set limit to the cashback you can earn and the cash rewards don’t expire. They also provide a welcome bonus and introductory APR on purchase and balance transfers.

Pros

• No annual fee is applied.
• A welcome bonus is provided.
• You can earn solid rewards.
• Introductory APR on purchases and balance transfers are offered.

Cons

• A high balance transfer fee is applied.
• A high foreign transaction fee is applied.

4. Capital One Quicksilver Student Cash Rewards Credit Card

The Capital One Quicksilver Student Cash Back Card provides offers like a 1.5% rewards rate on all purchases everywhere. With a return rate of 1.5% on usual annual expenses of $13,640, an average college student could expect to earn $204.60 in cashback per year from this student credit card with no income. You can earn 10% cash back on purchases made through Uber & Uber Eats till 11/14/2024. You also get 5% cash back on hotels and rental cars booked through Capital One Travel, and 1.5% cash back on every purchase made. These perks make it one of the best student credit cards for applicants.

To be eligible to get The Capital One Quicksilver Student Cash Back Card, you need to have a fair to good credit score from a minimum of 580 up to 740. The balance transfer fee is very high and a huge foreign transaction fee is also applied.

Pros

• Excellent extra benefits are provided. 
• Solid cash-back rewards for a student credit card.
• No annual fee is applied.
• No foreign transaction fees are applied.

Cons

• Other student cards could provide a better potential to earn. 

5. Capital One SavorOne Student Cash Rewards Credit Card

With the Capital One SavorOne Student Cash Rewards Credit Card, you can earn various cash-back rewards without having to worry about any annual fees or foreign transaction fees making it very beneficial for students. It comes with vicarious other perks like $0 Fraud Liability and a whopping 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal.

You can also earn up to $500 a year by referring friends and family alongside unlimited 3% cash back on popular streaming services, entertainment, dining, and at grocery stores (excluding superstores like Walmart® and Target®), with 1% on all other purchases. In addition to that, you get $50 if you spend $100 within the first three months of using the Capital One SavorOne Student Cash Rewards Credit Card.

Pros

• Excellent cash-back rewards
• No annual fee
• No foreign transaction fees

Cons

• No low introductory APR
• Limited bonus cash-back reward categories

6. Deserve® EDU Mastercard for Students

Deserve® EDU Mastercard for Students is a good first-timer card for international students and students looking for a more streamlined payment option for themselves. They offer 1% cash back on all purchases made with Deserve EDU Mastercard for Students. A Social Security Number is not needed to qualify for these college student credit cards, which makes them accessible and allows international students to qualify. This student credit card with no income comes with other useful benefits like cell phone protection, etc. 

There is no foreign transaction fee or annual fee. No credit history is needed, as they use FICO (Fair Issac Corporation) score/credit to determine your creditworthiness. They have a nontraditional welcome bonus and their cash-back rewards don’t exceed 1%. Also making balance transfers or withdrawing cash advances on this card is not permitted. APR is relatively higher and late payment fees can go up to $25.

Pros

• Doesn’t require a Social Security number to apply, allowing international students to qualify
• No foreign transaction fees
• No annual fee
• Useful benefits like cell phone protection

Cons

• Nontraditional welcome bonus
• Cash-back rewards don’t exceed 1%

7.  Discover it® Student Chrome

Discover it Student Chrome is a zero-maintenance credit card designed specifically for students. It has a very student-friendly reward and bonus structure, making it one of the best student credit cards. You get a free FICO score with no FICO history requirement with this card. There are also low fees with no foreign transaction fee and no first late payment fee. There is no annual fee and you can also get Discover’s signature bonus for new cardholders.

You can earn 2% cash back at restaurants and gas stations, up to $1,000 in combined purchases per quarter, and 1% cash back on all other purchases using Discover it Student chrome. Although, Discover it Student chrome isn’t as widely accepted abroad as other cards so if you intend to travel internationally make sure you have alternate plans. 

Pros

• No foreign transaction fee is applied.
• This card also acts as a gas card, and you can earn up to 2% cash back at gas stations, Also, up to $1,000 in combined purchases per quarter, and 1% cash back on all other purchases. 
• Student-friendly structure of rewards and bonuses.

Cons

• Discover it Student chrome isn’t as widely accepted abroad as other cards.

8. Chase Freedom® Student Credit Card

The Chase Freedom Student Credit Card boasts a relatively low APR and various upgrade possibilities, along with numerous rewards and bonuses. This makes it quite a lucrative combination of benefits for students looking to get started with credit. It has a relatively low APR of 19.24% in comparison to other college student credit cards. You can get a $50 Bonus after the first purchase made within 3 months, and an annual $20 bonus, for up to 5 years. You can also earn a credit-limit increase by doing on-time payments. Applicants do not need a credit history for this student credit cards with no income.

Some of the downsides of this card are that it applies foreign traction fees so there might be better choices out there for international students and a low cashback rate compared to other cards in the same run. 

Pros

• You can earn 1% cash back on all purchases and enjoy bonuses.
• You can get a credit limit increase.
• You don’t need a credit history for the application.
• Relatively low APR.

Cons

• Foreign Transaction Fee is applied.
• Low cashback rate.

9. Journey Student Rewards from Capital One

The Journey Student Rewards from Capital One student Credit Card is designed to be user-friendly with its student-focused rewards and bonus structure. This card comes with 1% cash back on all purchases and an extra 0.25% cashback with on-time payments as a bonus. This means you can automatically qualify for a higher credit limit within 6 months with no additional deposit. The Journey Student Rewards from Capital One student Credit Card doesn’t have any annual fees or foreign transaction fees though its rewards rate can be maximized up to only 1%-1.25% which is very low in comparison to some of the best student credit cards.

Pros

• Easy-to-understand and student-friendly rewards.
• Earn 1% cash back on all purchases.
• No annual fee is applied.
• No Foreign Transaction Fee is applied.

Cons

• Maximum rewards rate of 1% or 1.25%.

10. Petal® 2 “Cash Back, No Fees” Visa® Credit Card

The Petal® 2 “Cash Back, No Fees” Visa Credit Card is one of the best choices for no annual fee cards, especially for those focused on credit building. This student credit card not only has $0 annual fees it also has no foreign transaction fees. You can earn 1% cashback on all eligible purchases made through your college student credit cards, along with 2%-10% cashback on purchases from select merchants. They also do not have any late fees, no over-limit fees, no security deposit, and no requirement for credit history.

Although with multiple benefits it does come with no intro APR offer, no cash advances or balance transfers a good to excellent credit score of 670-840 is required which is pretty high compared to all the best student credit cards in the market.

Pros

• No annual fee is applied
• No foreign transaction fees are applied
• 1% cashback on all eligible purchases
• 2%-10% cashback on purchases from select merchants

Cons

• A credit score of 670-840 is required to qualify.

What are Student Credit Cards and How Do They Work?

Student credit cards are pretty much the same as any other credit card, but with limits and incentives designed especially for students. Student credit cards with no income can act as a bridge toward building a good foundation for your future financial endeavors, by keeping track of more valuable credit offers. Maintain your credit card by paying your bills on time; this can help you build a strong credit profile.

Furthermore, a strong credit profile will help you get other types of loans in the future, like a car loan, a mortgage, etc. much more conveniently. However, be informed about the cons because no matter how many advantages these student credit cards come with, they bring some massive disadvantages as well. These cards can easily become uncontrollable and impossible to maintain, ruining or damaging credit in the process. 

Should You Be Applying for a Student Credit Card?

Student credit cards are easier to apply for and attain compared to other cards, though they come with many pros and cons. If you’re in school and are thinking of getting a student credit card you must educate yourself about these factors. Student Credit Cards can help you lay the groundwork for a better financial future but they also come with higher interest rates and lower credits. Maintaining a student credit card by paying your bills on time so it doesn’t ruin your credit is the hard part. Hence, if you’re a student and think you can keep track of all these factors and adhere to them then college student credit cards might be a good investment for you.

How to Apply for a Student Credit Card?

• You can apply in multiple ways which include an online application, in-person application, and over-the-phone application.
• After the application process is done all you have to do is wait. Typically the approval period for any credit card application is 7-10 days. Sometimes you can get an instant decision but it depends on the credit card company.
• If your application is turned down, the credit card company will send you a letter stating the same and explaining the reason for the denial. If your application is approved by the company, you will receive your best student credit card within 7-10 days of your approval.

Note, if you are under 21 you would need a parent or guardian to cosign or you would need proof of independent income to convince the bank that you can pay the bills on time. Without an adult to co-sign you, getting student credit cards with no income is next to impossible. You also need to show legal proof of your U.S. citizenship to be eligible for the application process.

How to Choose a Student Credit Card?

Credit cards are a good way of tricking students into signing up for a financially risky investment, only to trap them in a debt cycle of high interest and low credit. Before the Credit Card Act of 2009, young students were prone to scammers, using items like t-shirts and shoes, to entice students into signing up for their credit cards. Things have, however, changed since the Card Act, and this practice of scamming students has stopped.

Eligibility

Students under the age of 21 are obliged to have a parent or guardian cosign with the student or the student must show valid proof of independent income to sustain the bills to be eligible for application. Though some issuers don’t allow cosigners for their college student credit cards most issuers do, so this is applicable in most cases.

Features

Once all your eligibility requirements are complete, your main goal should be towards building a strong credit history. Different issuers may offer different rewards and perks which are a plus but they should not be your main focus. Most of these features check out for the best student credit cards the market can offer. Some of the important features that you should look for are:

• No annual fee
• No foreign transaction fee
• Reporting to all three credit bureaus

How to Make the Most of Your Student Credit Card?

To have a strong credit history means easy gains in other financial aspects like car loans and mortgages. College student credit cards can help you achieve this by helping you build a good foundation for your credit history. To do so you need to make the most of your Student Credit Card and benefit from it, some of the ways you can do that are:

• Spend only what you can afford. Don’t think that your best student credit card limit is endless.
• Get a parent or guardian to cosign or give you the authorization to use someone else’s card.
• Budgeting is one of the most important factors that come into play while using a Student credit card. This will help you organize your expenses, prioritize and compare them.
• Keep your Credit Utilization low.
• Be careful about cash advances as it usually comes with very high interest.
• Pay off your balance accurately every month to avoid compound interest and growing credit card debt.
• Do not carry a balance from one statement closing to the next to avoid paying extra interest.

Why is it Wise to Build Credit as a Student?

Your credit history impacts your credit score and partially determines it, which is why building your credit history is so important. The best student credit cards will help you create a strong credit history, which in turn helps in financial aspects such as lowering interest rates on car loans, and mortgages, getting personal loans, lowering E.M.Is, etc. The sooner you start building credit as a student, the faster you will achieve a positive credit score. This will open the door to multiple options in the financial marketplace. 

Are There Any Alternatives to Student Credit Cards?

In case you aren’t eligible for a Student Credit Card but you still want to start building your credit, here are some good alternatives:

• Become an Authorized User

An Authorized User is when someone adds you as a user of their account and takes liability for your financial actionṣ in regard to their account. They are legally responsible for any debt you accrue or any transaction you make. You get the liberty to get your own card and benefit from the primary cardholder’s credit history.

• Secured Credit Card

For a secured credit card, you will have to pay a secured deposit that sets the credit limit on your best student credit card. These also include guaranteed approval 1000 limits cards which are much easier, as the secured deposit reduces the risk for the loan issuer. You can start building your credit with this card and can even get your secured deposit back, with responsible use. Secured credit cards are a better option when compared to unsecured credit cards for bad credit due to the reduced interest rate and increased approval rate.

• Co-sign

Co-signing is when the person signing with you, agrees to pay all your debts back in case you fail to. This also allows you to get college student credit cards of your own, by making use of someone else’s credit history and income. Getting student credit cards with no income is no hassle, as long as you have an adult to co-sign with you.

FAQ(s):

Q1. Can you pay student loans with a credit card?

No, federal student loans are not allowed to be paid off with credit cards, but you can pay your private student loans off with college student credit cards. Most lenders prefer repayment loan amounts coming from a bank account as opposed to a credit card. Even though some third-party online services are offering ways to pay back such loans with your credit card, you must be careful about opting for such services as they may turn out to be fraudulent.

Q2. How to get a credit card as a college student with no income?

If you are less than 21 years old, and without any source of independent income, you can get a credit card by applying to cosign with a parent or guardian. In such a scenario, the credit card issuer will take the co-signers credit history into account and qualify you based on that.

Q3. Can you get a student credit card even if you’re not a student?

Student credit cards are a self-explanatory item, as you generally need to be a student to apply for one. The best student credit cards are tailored for students and revolve around their needs. Unlike other credit cards that require a good credit history to qualify, student credit cards do not, which is why the issuer may want you to be enrolled in school or college. However, there are alternatives like secured credit cards for non-students, etc., that are equally good in helping you build a good credit history.

Are Student Credit Cards Good for Building Credit?

Student credit cards are one of the best ways to start building your credit. By using a student credit card, you are letting the issuer report your credit activity to the major credit bureaus, which they then compile to determine your credit score. Through this process, your credit activity is monitored, and your responsibility and risk factors get assessed. By paying your bills on time, budgeting, keeping your credit utilization ratio relatively low, and using your credit limit responsibly, you can minimize your risk factor in terms of financial investment. This will help you hugely impact your credit score in a positive way.

About Post Author

Gabriel Wallace

Gabriel Wallace is a financial analyst and senior consultant at City Hall News. He has more than 10 years of experience in the field and provides critical insights on the latest loan, credit card, and other financial services offerings. He holds a master’s degree in economics from Stanford University and has worked as an advisor for several banks. His expertise in market analysis and financial strategy has made him a go-to resource when it comes to determining the best deals for customers who are looking for products that fit their needs. His ability to analyze financial information quickly and provide clear guidance makes him invaluable to City Hall News’ readership.

gabrieldwallace@gmail.com

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