College students and credit cards

As a parent, there are many reasons to consider having your college-bound student apply for a credit card: convenience, emergency situations and the chance for them to build their own credit history when they use the card responsibly, just to name a few. 

Here are some helpful things to look for when choosing a card. And if you’re the one headed back to school, these tips apply to you too.

Key takeaways

  • When used responsibly, a student credit card can help young adults start building credit. 
  • There can be additional limitations for 18-20-year-olds who are trying to get approved for a credit card, like only being allowed to list your own income until you’re 21.
  • Comparing card features, interest rates and terms may help you determine which card is best for your college student to start learning about responsible credit habits.

Student rewards credit cards

With responsible use, students can earn cash back rewards today while building credit for tomorrow.

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Is it worth getting a credit card as a college student?

A credit card can be a great tool to teach young adults how to become more responsible and financially independent. And some credit card options may offer additional perks like cash back. 

Whichever credit card you choose, be sure to weigh all factors before filling out an application. Credit cards can enable unhealthy spending habits if not used responsibly, so consider if your college student is ready for their first credit card.

Important things for students to know about credit cards

Perhaps the biggest advantage of a credit card for college students isn’t what they can buy with it—it’s how they can build good credit with it if used responsibly. 

Responsible credit card use includes making on-time payments and not overspending every month. So look for a card designed with features that help students and first-time cardholders build a healthy relationship with credit. These cards may come with educational resources and features like credit-tracking tools that can help students discover responsible ways to use credit.

Students can also use educational resources like CreditWise from Capital One—a free tool that provides a personalized summary of key factors that affect their credit scores. Students using CreditWise can even receive automatic alerts if their TransUnion® credit report changes.

What to look for in a credit card for college students

It’s important to understand how student credit cards work when shopping for one. Here are some important card features to keep in mind:

  • Annual percentage rate (APR): Low introductory interest rates are enticing, but find out where the APR will go from there.
  • Additional fees: Are there annual fees, transaction fees or other charges?
  • Unauthorized charge coverage: A credit card is a big deal—and an even bigger deal if it’s lost or stolen. Find out if you’re covered by policies like $0 liability for unauthorized charges.
  • Automated payment reminders: During busy times like finals, your student can stay focused on good grades with automated texts or emails alerting them when their account needs attention.
  • Foreign transaction fees: Some cards cover foreign transaction fees, a bonus for students heading abroad for a semester or the summer.
  • Rewards: Many entry-level student cards offer cash back rewards, often with no limit on the amount that can be earned.

How to get a credit card for a student in college

The application process for a student credit card is similar to how you apply for a typical credit card: You’ll usually need to provide information like your address, date of birth and employment or income information. And for student credit cards specifically, you may need to show proof of enrollment at a college or university. 

Once you’ve submitted your application, the card issuer will usually provide an answer within a few seconds. 

  • If approved: You can expect to get your card in the mail within a couple weeks. 
  • If it’s pending: The card issuer may need more information before making its decision. In that case, you can call customer service to find out more. 
  • If your application is denied: You may be able to ask the card issuer to reconsider. Or you can review the main reasons for the denial—which they’re legally required to provide—and work to remedy any issues.

Student credit card age requirement

Usually, you have to be at least 18 years old to qualify for a credit card of your own. So if your child is starting college before age 18, you could start by making them an authorized user on your credit card to let them begin building a credit history.

Keep in mind that there are sometimes additional limitations for those ages 18-20, like only being able to list your own personal income until you’re 21. This can make it harder for 18-20-year-olds who rely on other forms of income to get approved.

Learn more about credit card age requirements.

Credit card for students with no income

Once students are 21, they can claim more types of income on their card application, like those from a spouse, partner or trust fund distribution. They can also include things like allowances and gifts, scholarships, grants and Social Security income. 

But if your student has no income and you still want them to have access to a credit card, you can try cosigning on a card with them or letting them be an authorized user on yours.

Credit card for students with no credit

Approval requirements vary based on the card issuer, so some cards may not be an option for those with no credit history. But student credit cards are designed with students in mind, so approval requirements may be more relaxed to accommodate applicants who don’t have any credit yet

And if your student is just starting out on their credit journey, you may be able to help them get approved for a credit card by cosigning and leveraging your own credit history. But keep in mind that some card issuers don’t allow for cosigners.

A secured credit card can be another way to help your student build credit history. It will require an upfront security deposit, but the deposit is usually refundable.

Lead by example

There’s one more resource to help new students learn how to handle credit: you. As a parent, your experience with credit cards can add up to some great credit card tips for your college student

Whether it’s teaching them the importance of staying on top of monthly payments to avoid late fees, reading the fine print on card terms or making sure to not spend more than you can afford, your student may appreciate your guidance. 

Check out more tips for teaching kids about money at any age.

Student credit cards in a nutshell

No doubt, credit card ownership is a big step. But building good credit takes time and responsible credit card use. So for many students, it makes sense to start early. And helping a student choose a card and learn how to be a responsible new cardholder can serve them well after they graduate and set out into the world. Think of the opportunity to build a healthy credit history as just one more valuable lesson that comes alongside that degree they’re earning.

Find a student card that fits your needs

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Ready to get started? The Capital One Quicksilver Student cash rewards credit card comes with a $0 annual fee and offers unlimited 1.5% cash back on every purchase, every day. View important rates and disclosures. Not to mention 10% cash back on Uber and Uber Eats purchases.1

And the Capital One SavorOne Student card offers 3% cash back on dining, entertainment, popular streaming services and grocery store purchases2, as well as 1% cash back on all other purchases.

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