Searching for the best solutions to choose the right credit card for you is no longer an impossible task as it was before. You can now own credit cards from an infinite number of choices, but you have to ask what is appropriate for you in the current period, so we offer you the Best Credit Cards for Teenagers and University Students.
1. Discover it® Student Cash Back
– Advantages:
– Cash Back Rewards: 5% cash back on rotating categories (e.g., grocery stores, restaurants) each quarter up to the quarterly maximum, when activated. 1% cash back on all other purchases.
– No Annual Fee: Helps students save money.
– Good Grades Reward: $20 statement credit each school year your GPA is 3.0 or higher for up to five years.
– First Year Cash Back Match: Discover matches all cash back earned in the first year.
– Free FICO® Credit Score: Allows students to monitor their credit score.
2. Journey® Student Rewards from Capital One
– Advantages:
– Cash Back Rewards: 1% cash back on all purchases, plus a 0.25% bonus each month you pay on time.
– No Annual Fee: No cost to maintain the card.
– Credit Limit Increases: Eligible for a higher credit limit after making your first five monthly payments on time.
– Credit Monitoring: Access to CreditWise from Capital One, which allows you to monitor your credit score.
3. Bank of America® Cash Rewards Credit Card for Students
– Advantages:
– Cash Back Rewards: 3% cash back in a category of your choice (e.g., gas, online shopping), 2% at grocery stores and wholesale clubs, and 1% on all other purchases.
– No Annual Fee: Keeps the cost low.
– Introductory APR: 0% APR on purchases for the first 15 billing cycles.
– Credit Monitoring: Free access to your FICO® credit score.
4. Deserve® EDU Mastercard for Students
– Advantages:
– Cash Back Rewards: 1% unlimited cash back on all purchases.
– No Annual Fee: No annual cost.
– No Social Security Number Required: Ideal for international students.
– Amazon Prime Student Subscription: Reimbursement for an Amazon Prime Student subscription after making $500 in purchases in the first three billing cycles.
5. Petal® 2 “Cash Back, No Fees” Visa® Credit Card
– Advantages:
– Cash Back Rewards: 1% cash back on all purchases, up to 1.5% cash back after 12 on-time monthly payments, plus 2%-10% cash back at select merchants.
– No Fees: No fees whatsoever, including annual fees, late fees, or foreign transaction fees.
– Credit Building: Reports to all three major credit bureaus, helping students build credit.
– Innovative Underwriting: Considers more than just credit scores for approval, useful for those with limited credit history.
Tips for Students Using Credit Cards
– Pay On Time: Always make payments on time to avoid late fees and to build a positive credit history.
– Keep Balances Low: Use the card for small, manageable purchases that you can pay off in full each month.
– Monitor Spending: Keep track of your spending to avoid overspending and to stay within your budget.
– Understand Terms: Be aware of the card’s interest rates, fees, and rewards structure to maximize benefits and avoid costs.
– Use Credit Wisely: Avoid using credit for impulse purchases and unnecessary expenses.
By choosing one of these student-focused credit cards and using it responsibly, teenagers and university students can build a strong credit foundation for their future.
