The conveniences of having a credit card are too many. The problem is that when you apply for one, most of the issuers will require you to have an income statement as well as credit history.
When you’re a student, you might not have both, or at least one of them.
There are a few issuers offering you a credit card then as well.
Instead of applying for any credit card, it is essential to understand which one you should apply.
Today, we will share with you the 5 best student credit cards no credit. It means that even if you have no credit and are a student, you can still get approved for these credit cards.
The 5 Best Student Credit Cards No Credit
Discover it® Student Cash Back
12.99% to 21.99%
Deserve® EDU Mastercard for Students
Bank of America® Cash Rewards Credit Card
13.9% to 23.99%
$200 cash reward
Discover it® Student chrome
12.99% to 21.99%
Wells Fargo Cash Back College Card
11.15% to 21.15%
1. Discover it® Student Cash Back
The card on top of our list can offer up to 5% cashback on Amazon.com, groceries, gas stations, etc. There is unlimited 1% cashback available as well.
With no credit history required, getting approved for this card is indeed easy. There is no annual fee as well. The APR varies between 12.99% to 21.99%.
In case you get a GPA of 3.0 or higher while holding his credit card for the 1st five years, you get $20 statement credit as well.
There is no late fee, which ensures that you will not have to pay a hefty fee even if you miss the payment by just a single day.
With a 99% acceptance ratio, you certainly cannot go wrong with it.
The introductory balance APR of 10.9% for the 1st 6 months ensures that it is easy for you to use it for balance transfers.
Thus, if you’re looking for a student credit card that has an easy approval process, you can go with this one.
Introductory balance transfer APR
$20 statement credit
No credit history required
No annual fee
Up to 5% cashback
No late fee
2. Deserve® EDU Mastercard for Students
With unlimited 1% cashback, it is easy to enjoy the rewards while using this card. Besides that, it is suitable for students with no credit as well.
The $0 annual fee is another reason why you should go for it. The regular APR is 18.74%.
Along with the card, you get one-time student membership for one year if you spend $500 in the 1st three months.
There is cell phone protection up to $600 on offer as well.
With no annual fees and no deposit, getting approved for this card is indeed easy.
In case you’re planning an international trip, then too, you can use this card. It does not charge you any international transaction fees.
The app ensures that you can monitor the usage and the payments on this card.
With the help of an easy prequalification process, you can know right away whether you can get this card or not. It won’t impact your credit score either.
Thus, if you’re looking for a student credit card with an easy application process, you can consider this one.
Unlimited 1% cashback
No annual fee and no international transaction fee
Cell phone protection on offer
Easy to check qualification criteria
APR is a bit high
3. Bank of America® Cash Rewards Credit Card
The USP of the student credit card is the $200 cash reward which you get as the welcome bonus. Apart from that, there is no annual fee as well.
The APR also varies between 13.9% to 23.99%.
You can monitor your credit score for free. That is why building your credit score with the help of this card is certainly possible.
It offers a 0% introductory APR as well. That is why; it is easy for you to use it for bigger purchases.
With up to 3% cashback, depending on the merchant with which you are transacting, you can get lucrative rewards.
The cash rewards on offer do not expire. That is why; you can take advantage of them whenever you want.
The safe shop service ensures that you can do so easily if you want to generate a virtual credit card.
The mobile banking app ensures that you can monitor the expenses right away. You will be able to pay the credit card bills using that app as well.
The only bit of downside is that the 3% foreign transaction fee is slightly on the higher side. However, other than that, this credit card has everything on offer which you might look for.
Thus, if you’re looking for a student credit card that you can use in a completely safe manner and which has lucrative rewards as well, you can certainly go with this one.
0% introductory APR
Mobile banking app access on offer
High foreign transaction fee
4. Discover it® Student Chrome
Discover it has another offering for students. The discover it student chrome, which we speak about now, can offer you up to 2% cashback up to $1000. There is unlimited 1% cashback available as well.
At the end of the 1st year, it will match your cashback as well. It means that the overall awards which you will be earning will be on the higher side.
The APR varies between 12.99% to 21.99%.
With a $0 annual fee, you will not have to worry about excessive fees either.
When you get a GPA of 3.0 or higher in the 1st five years, you can get a $20 statement credit as well.
Additionally, on your 1st late payment, you will not have to worry about late fees as well. Similarly, there is no APR change when you pay late.
If you refer a friend and he/she gets approved, you can get a statement credit as well. That will further help you bring your credit card bill down.
You can easily freeze your card as well as activate it according to your requirement.
Moreover, with 99% acceptance, you cannot go wrong with this card.
Want to make a larger purchase?
If so, it offers a 0% introductory APR for the 1st 6 months as well. It means that you can pay for the larger purchase easily.
Thus, if, for some reason, you do not like the earlier offering by Discover it, you can go with this one.
Introductory APR for 1st 6 months
Easy to freeze and activate the card
Excellent rewards program
$0 annual fee
Difficult to get a lower APR
5. Wells Fargo Cash Back College Card
The highlight of this credit card is that it offers up to 3% cash rewards. While 3% are available on certain merchants but 1% is available on almost every purchase.
With the 0% APR for balance transfers for the 1st 6 months, you can use it for transferring larger balances.
The APR can vary between 11.15% to 21.15%.
With no annual fee, you can use this card for as long as you want.
With the help of $600 cell phone insurance, your phone is pretty well covered as well.
You need to keep in mind that there is a 3% foreign transaction fee. That is why using it internationally is not advisable.
Since the bank approves students with no credit history, it is really easy for you to get the approval.
The card reports to credit bureaus as well. That is why, if you want to use it for building your credit, that is certainly a possibility as well.
With all the necessary features on offer, you cannot go wrong with this student credit card.
Introductory APR available
Up to 3% cash rewards
$600 cell phone insurance
Helps you build a credit
High foreign transaction fee
Now that you are aware of the five best student credit cards, no credit, it is time to look at the parameters which you should consider while choosing one.
Our guide below can help you with the same.
How To Choose Student Credit Cards No Credit?
While comparing the above five credit cards, you should consider the parameters like:
You should take into account the annual fees. Ideally, you should choose a credit card that does not charge you any kind of annual fee. Only when that is the case can you use this credit card for as long as you want.
Students do not have a lot of budget. That is why, when you’re getting a credit card, it is a good idea to choose a no annual fee one.
Additionally, you should also choose a credit card with a certain kind of reward program. The reward can be as low as 1%. However, it should have an unlimited reward program.
That way, whenever you spend anything, it will become easier for you to earn something back.
The higher the percentage of rewards, the better it is.
You have to also look out for statement credits for any specific task which you can get. That way, you can easily bring down your credit card bill.
Ignoring the reward programs of such a card is a mistake.
Without considering the interest rates that are the APR, choosing such a card is a mistake.
Of course, most of these cards will have a range when it comes to APR. However, the lower the range, the better it is.
You shouldn’t just look at the regular APR as one of those for balance transfers as well. If they offer you an introductory APR, that is certainly a positive.
There is no point in going with a student credit card with a high APR. In that case, if you do fall, instead of building your credit, you might end up hurting it.
That is why taking into account the APR is certainly important.
Another important factor to consider is whether you should go with a secured credit card or an unsecured credit card. If you’re going with the secured one, you will have to make a deposit.
Unsecured credit cards do not require a deposit. However, the limit can be on the lower side. That is why you need to look at the type as well.
It is also important to look at the limit of the credit card. Of course, as a student, you might not get thousands of dollars of limit, but at the same time, if the limit is as low as $100, it might not be of any use to you.
That is why it is important to look at the limit and then take a call.
While comparing the student credit cards no credit on these parameters, you can easily find the best one.
We will now answer some other questions which are related to such credit cards.
Why Is It A Good Idea To Build Credit When You Are A Student?
There are quite a few reasons why you should try and build credit when you’re a student. These are:
The faster you build the credit, the easier it will be to use financial products. That is why; it is a good idea to build credit as a student.
When you’re a student, it is easy to get a credit card with no credit history. However, once you pass out of college, it will become difficult for you to get a credit card without a credit history.
When you have already built a credit history during your college years, it will become easier for you to commence your creditworthiness. The credit age is another parameter in your credit report. The longer your credit age, the higher will be your credit score.
Due to these three reasons, it is a good idea to build credit when you’re a student.
What Is The Alternative To Student Credit Cards?
Despite your best efforts, if you’re not able to get a student credit card, there are a few other ways which you can try out. These are:
If you’re under the age of 21 years, you can ask one of your parents to add you as an authorized user as well. Authorized users can help you build your credit is history as well. You can enjoy all the conveniences of a credit card as well.
In case you are over the age of 21 and still aren’t able to qualify for a student credit card, it is a good idea to take a part-time job with a company and asked them to provide you with a corporate credit card to build a credit history. Sure enough, you will get a smaller limit, but it will become easier for you to build your credit history.
Thus, these are the two alternatives to student credit cards that you can try out.
We will now answer some of the FAQs, which will help you know more about such student credit cards.
Frequently Asked Questions (FAQ)
Can you get a credit card as a student?
Yes, you can certainly get a credit card as a student. You need to apply for any of the five credit cards that we have highlighted above.
What is the primary difference between a student credit card and a regular one?
Student credit cards provide you with more leeway when it comes to credit history and credit score. These are specifically designed for students so that they can build up their credit.
The regular ones have very stringent criteria for approval. That is why; students often do not qualify for them.
These are the primary differences between student credit cards and a regular ones.
What is the minimum age to get a student credit card?
As long as you are over 18 years, you can easily get a credit card.
Should you have a job to get a student credit card?
Having a job certainly makes it easy to qualify for a student credit card. If you do not have one, you might have to ask your family member to authorize you to get a student’s credit card.
Can international students get a student credit card?
Students who study legally in the US and can do part-time work and complete their course can easily get student credit card.
If you are a US citizen and studying in another country, then too Bank of America, Capital One, Discover, Citibank, etc. offer credit cards to you.
Thus, if you’re in student and are looking for credit cards with no credit, these are the 5 options that you have. With our detailed guide above, you can easily enjoy the perks of having a credit card, building your credit history and getting approved with no credit history.