Our pick for students who are new to credit: Deserve® Edu Card
Up to 1%
Cash back
- No credit score or SSN required
- Amazon Prime Student subscription after spending $500 in the first 3 months
- No annual fee
Getting a student credit card can be an exciting first step toward building credit. While paying on plastic might give you a sense of financial freedom, it’s important to also understand the responsibilities that come along that freedom.
Before applying, learn the features, benefits and drawbacks of student credit cards.
A student credit card can be a useful tool to purchase items. If you pay off your purchases on time and use the card responsibly, a student credit card can also help you cultivate financial discipline and build stronger credit. With better credit, you can eventually graduate to a credit card with stronger rewards.
When comparing student credit cards, consider these factors:
The information required differs from bank to bank, but you’ll probably need to provide these details:
Generally speaking, student cards are reserved for students. Most require you to input and have confirmation of your student status in order to apply. If you’re not a student but you’re looking for a way to start building credit, consider applying for a card with a cosigner.
The application process is customized by banks according to their requirements. The general process for applying for a student credit card is:
Credit card companies will look at your past credit history while processing your application. A major aspect of past credit history includes your recent applications. If there are several rejections for applications of a credit card, it would reflect poorly on your credit rating. So it’s important to conduct research to ensure you meet the eligibility requirements before firing several credit card applications off.
Our pick for students who are new to credit: Deserve® Edu Card
Up to 1%
Cash back
Student credit cards can be a good way for cardholders to kickstart their credit history. Generally, these cards have a lower fee structure because of the limited repayment capacity of the students. If you use the card appropriately, by only making necessary purchases and paying your bills on time, you could start building a good credit history which will benefit you later in life.
As there are many student credit cards on the market, it’s worthwhile to compare your options to find the right student card for you.
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Hi Viswateja,
Thanks for leaving a comment on finder.
If you are a student and looking to get your first credit card, the information above has everything you need to get approved. Please make sure to read the eligibility criteria, features and the relevant PDS/ T&Cs of the card before submitting your application.
Cheers,
Joel