What Are the Best Credit Cards for Students?

Introduction

Credit cards have become an essential financial tool for students in today's world. They offer convenience, safety, and the opportunity to build a credit history. However, with so many credit cards available in the market, it can be challenging for students to choose the right one. In this article, we will discuss the bestcredit cards for students.

1. Discover it Student Cash Back

The Discover it Student Cash Back credit card is an excellent option for students who want to earn rewards while building their credit history. This card offers 5% cashback on rotating categories every quarter up to $1,500 in spending. Plus, it provides an additional 1% cashback on all other purchases. The Discover it Student card also comes with a unique feature that rewards students for good grades. Students can earn a $20 statement credit every academic year for maintaining a GPA of 3.0 or higher.

2. Citi Rewards+ Student Card

The Citi Rewards+ Student Card is another excellent option for students. This card offers 2X ThankYou Points at supermarkets and gas stations for the first $6,000 per year, and 1X ThankYou Point on all other purchases. Plus, it rounds up the points earned on each purchase to the nearest 10. For example, if you make a $5 purchase, you will earn 10 ThankYou Points. This card also comes with a 0% APR for the first seven months, making it an excellent option for students who need to make big purchases.

3. Bank of America Travel Rewards for Students

The Bank of America Travel Rewards for Students credit card is perfect for students who love to travel. This card offers 1.5 points for every dollar spent on all purchases, and the points can be redeemed for travel rewards such as flights, hotels, and car rentals. Plus, it comes with no annual fee and no foreign transaction fees, making it an excellent option for students who plan to study abroad.

Tips for Applying for a Credit Card

When applying for a credit card, it's essential to keep the following tips in mind:

1. Check your credit score before applying to determine which credit card you are eligible for.

2. Compare different credit cards to find the one that best suits your needs.

3. Read the terms and conditions of the credit card carefully before applying to avoid any surprises.

4. Use the credit card responsibly and pay your bills on time to avoid negative impacts on your credit score.

5. Consider a secured credit card if you have no credit history or limited credit history.

Credit Card Rewards Programs

Credit card rewards programs are an excellent way to save money on purchases. Here are some tips to maximize your rewards:

1. Choose a credit card that offers rewards on purchases you make frequently.

2. Pay your credit card bill in full every month to avoid interest charges.

3. Keep track of your rewards balance to ensure that you can redeem them before they expire.

4. Redeem your rewards for cash, statement credits, or gift cards to save money on purchases.

Annual Fees and Risk Avoidance

When applying for a credit card, it's essential to consider the annual fees and potential risks involved. Here are some tips:

1. Choose a credit card with no annual fee or a low annual fee to save money.

2. Avoid carrying a balance on your credit card to avoid high-interest charges.

3. Report any fraudulent activity on your credit card immediately to avoid financial losses.

4. Monitor your credit report regularly to ensure that there are no errors or inaccuracies.

Conclusion

In conclusion, there are many credit card options available for students. The Discover it Student Cash Back, Citi Rewards+ Student Card, and Bank of America Travel Rewards for Students are among the best credit cards for students. When applying for a credit card, it's essential to consider the rewards program, annual fees, and potential risks involved. By following the tips mentioned in this article, students can choose the right credit card and use it responsibly to build their credit history and save money on purchases.