Table of contents
Credit cards are usually associated with older and financially stable people, but when you are young, credit can be one of the most powerful tools you can take advantage of.
Although, how can you start building your credit if you need a credit history for most financial products? You can go to this article and learn about some ways to build your credit.
In this article, you will learn about student credit cards, which are another way to build credit. Not only that, but they are also one of the easiest methods to do so.
Tips when applying for a credit card
Look for the application requirements
Most credit cards require your full name, date of birth, Social Security Number (or ITIN), address and information related to your annual income. You can go to this article to find out more about the application requirements.
Do not go for the first option you see. Compare different credit cards and see which one fits your needs. Rule of thumb is the lower the rate, the better for you.
Rates are not the only hazard you should be aware of. There are different fees around a credit card. You should take a look at the fees included in the credit card you are interested in. Some might be lower, others can even be set at $0.
Sometimes rewards are seen as a “plus”, but you should still take a look at them. If you can get rewarded by using your credit card, why not take a look at the different options there are? Choose the kind of rewards that best suit you
How to apply for a credit card
To apply for a credit card, you will need to provide some personal information. You can apply directly with a financial institution or you can apply online with some providers.
Make sure that you provide accurate information to avoid slowing down the process or even getting rejected because of misinformation.
For student credit cards you might also be required to provide information about your school, including proof of enrollment.
Easy to get student credit cards
|Credit Score||630 – 850|
This credit card is great if you are not from the United States and are currently studying there. It might not be the card with the biggest rewards, but on the other hand, it has some perks that might help you save.
This no annual fee credit card will give you a 1% cashback on every dollar you spend with it. Also, if your phone gets stolen or damaged, you get cell phone protection for up to $600 with a $50 deductible. Just make sure that you pay your monthly bill with your credit card.
You will also get no foreign transaction fees, which will help you when you are traveling. In addition, after spending $500 within the first 3 billing cycles, you will get one year of Amazon Prime Student
Lastly, you will be enrolled in a refer-a-friend program, where you will get $30 for every friend you refer.
- Discover it Student Cash Back
|APR||13.74% – 22.74%|
|Credit Score||630 – 689|
This no annual fee credit card can be a great option for students who are learning how to use their credit. You will get an introductory 0% APR on purchases and a 10.99% APR on balance transfers for the first 6 months.
As a reward, you will get a free FICO score and a 5% cashback when purchasing in certain places. Unlimited Cashback Match is a great program, and guess what? You will get to be a part of it with this credit card.
- Chase Freedom Student credit card
|Credit Score||690 – 850|
This credit card gives you the opportunity to get started on earning rewards while using your credit card. All purchases will earn you 1% cashback.
This credit card gives you the option to jump to a credit card with better conditions. This is if you use your student credit card responsibly. You can even increase your student card credit limit by doing 5 monthly payments on time within the first 10 months.
It is recommended to save your points until you are able to get a premium card, then, you can redeem your points and get the most out of them.
After your first purchase, you will earn a $50 bonus, plus a $20 bonus every anniversary during the first 5 years.