Credit cards for college students

Credit can play a major role in your financial future. And using a credit card responsibly is one way to build good credit. But as a college student, you may not have the credit history required for some credit cards. 

That’s where credit cards for college students come in. They’re designed for those with little to no credit history. Some even offer rewards, like the Capital One Savor Student and Quicksilver Student cards. Here’s what to look for in a student credit card and how to choose one that’s right for you.

What you’ll learn:

• Comparing card features, interest rates and terms may help you determine whether a student credit card is right for you.

• To apply for a student credit card, you typically have to show you’re enrolled in a college or university.

• Depending on your age, you might also have to show proof of income. 

• Capital One has two student rewards credit cards: Savor Student and Quicksilver Student.

A student credit card may be your first credit card. So here are some important card features to know about and compare: 

1. Annual percentage rate (APR): Different credit card transactions may have different APRs. Purchases may have one APR, while cash advances may have another, for example. A new credit card may come with a lower, introductory APR for a limited time. Make sure you understand all of a card’s APRs and when or how long they apply.

2. Fees: Check if there are any fees associated with the card, such as annual fees or late fees.

3. Rewards: Some student cards offer cash back rewards, sometimes with no limit on the amount that can be earned.

4. Credit limits: It’s important to know your card’s credit limit and make sure your balance doesn’t exceed it. By using the card responsibly over time, you may qualify for a credit limit increase. 

5. Unauthorized charge coverage: Some card issuers have policies like $0 liability for unauthorized charges if your card is lost or stolen.

6. Automated payment reminders: Understanding how your billing cycle works can help you plan for upcoming purchases and make on-time payments. But during busy periods, things can slip through the cracks. Some card issuers let you set up text or email alerts to help you stay on track. 

7. Foreign transaction fees: Some cards don’t charge foreign transaction fees, which is helpful if you’re heading abroad for a semester or the summer.

One of the biggest advantages of a student credit card is that you can build good credit if you use it responsibly. So no matter what card you choose, make sure you’re doing things like making on-time payments and not overspending.

Capital One offers two student credit cards: the Savor Student credit card and the Quicksilver Student credit card. CardRatings even named Quicksilver Student 2024’s best student credit card.¹

Both cash-back rewards cards offer new cardholders the chance to earn bonuses.² Here’s a look at how their other benefits compare:

Applying for a credit card generally works the same whether you’re a student or not. Here are some steps you might take:

You may not think you have a credit history, but the Consumer Financial Protection Bureau (CFPB) says it’s worth checking anyway. That way, you can be more confident about what’s in your credit reports.

CreditWise from Capital One gives you free access to your credit report and score anytime. CreditWise is free and available to everyone. And using it won’t hurt your score. You can also get free copies of your credit reports from all three major credit bureaus by visiting AnnualCreditReport.com.

Approval requirements vary by card issuer. Some cards may not be an option if you have a limited credit history. But student credit cards and secured credit cards are designed to accommodate applicants with no credit history. 

There may also be age and income requirements. It’s possible to get a credit card once you’re 18. But issuers aren’t allowed to open accounts for people younger than 21 unless they can show proof of income.

Application requirements might vary. But you typically need to provide information like your address, date of birth and employment or income information. You also generally need to show proof of enrollment at a college or university.

The pre-approval process can tell you whether you’ve met the initial criteria required to become a cardholder. It can also help avoid unnecessary hard inquiries, which can hurt your credit scores.

You can typically apply for a credit card in person, by mail, by phone or online. The online process is often the quickest and most convenient.

College students can access credit by becoming an authorized user on a loved one’s credit card account. But if the authorized user or account holder doesn’t use the account responsibly, it could hurt both people’s credit.

Building good credit takes time and responsible use. So for many students, it makes sense to start early. Choosing a card and learning how to be a responsible cardholder can serve you well after you graduate and set out into the world. 

Ready to get started? 

• See if you’re pre-approved for a student credit card without harming your credit scores.

• Explore student rewards credit cards you can use to build credit with responsible use.

• Earn unlimited cash back on food and fun with the Savor Student card. 

• Earn unlimited 1.5% cash back on every purchase, every day, with the Quicksilver Student card.