Given that few schools offer a comprehensive education in personal finance, it’s up to us — and our families — to prepare for entering the financial world. The best student credit cards help young adults build credit, learn good spending habits, and even reap rewards for good grades in college. We sometimes use affiliated links which may result in a payment following a visitor taking action (such as a purchase or registration) on an external website. Some cards include free credit score tracking and money back for good grades. With a decent APR and 1-percent cash back rewards, this card will save you money on your expenses. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. They generally come with lower credit limits than typical credit cards and don't charge annual fees. There are many student credit cards that offer student-specific rewards such as cash rebate on tuition fee payment. © 2020 CNET, A RED VENTURES COMPANY. Even high schoolers may have to contend with things like parking fees. Reward rates may be lower than for standard cash-back and travel credit cards, however, making student credit cards a lower-risk, lower-reward financial tool. The best student credit cards in Canada come in all sorts of shapes and sizes. 1. We selected four cards that stood out across a range of criteria, including APR, forgiveness for credit mistakes, cash rewards and lenient eligibility requirements. By: Brittney Mayer . Earn up to $60 in streaming subscription credits when you pay on time. Share. Representative example; Representative 21.7% APR (variable) Purchase rate 15.9% p.a. Some credit card issuers require applicants to already have a good credit history to get approved, but others are specifically designed for students who are … Visa dominates by pure transaction volume, and Visa and Mastercard are accepted in the largest number of countries. While college and high school may look a lot different this year due to the global coronavirus pandemic, there are still plenty of school-related purchases they'll need to make during the 2020-2021 school year -- even when completing schoolwork at home. Our guide goes through the best lending platforms to use, as well as the risks to know first. Here's how to be fantastic with plastic. Students nowadays have all sorts of expenses from tuition fees, exchange programmes to social networking. Explore options for student credit cards by reading BestCards.com’s detailed reviews below. The Deserve Edu student credit card offers 1% cash back on all purchases, which can be redeemed for statement credits in increments of $25. Luckily, once a student is able to get a card, simply making everyday purchases is an easy way to build credit (so long as the student is able to pay off their purchases). Students with the Discover It Student Chrome also don't have to worry about a penalty APR, which some issuers will institute if a card holder misses a payment. Have you considered borrowing or investing money through peer to peer loans? The best credit cards for students prevent young cardholders from getting into debt while they build up their credit. The Best Credit Cards for Students. Note: While some of the cards on our list are not full-fledged student credit cards per se, all have no annual fees and minimal qualification requirements. There are five key reasons to get a credit card: Should you get a credit card? But a secured card shouldn't be the first choice for a credit newbie. These credit cards fit the bill for best student cards and offer no- or low-fees, everyday rewards, and they have no- or low-minimum income requirements. Student credit cards can also serve as a starter credit card for first-time credit card users or newcomers to Canada. Our eligibility checker can help you make sure you will get accepted with even if you have not had a credit card before. Runner-ups for Best Student Credit Card: BankAmericard Travel Rewards® for Students. Why this is one of the best student credit cards: This card offers … Privacy policy. It offers a 0% intro APR on balance transfers for the first 12 months: a great deal if you have some big purchases to make at the beginning of the year. Advertiser Disclosure: ValuePenguin is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site. And the Deserve Edu student credit card checks many of the boxes: It offers 1% back on all spending, features a relatively low late-payment fee and comes with a flat 18.74% APR. Every cardholder gets the 14.99% variable APR -- so you know what you're signed up for at the outset. Please check the terms for yourself before making any decisions. The card issuer looks at sources of income -- even from part-time work or deposits from parents -- as well as information about checking and savings accounts to get a sense of an applicant's saving and spending. We think that the Petal card offers students with the best credit card facility. https://www.bankbazaar.com/credit-card/student-credit-card-in-india.html If you don't have another option, a secured credit card may make sense. 15,000), and the card has no annual fees. The key to happy credit is knowing how it works and using it responsibly. If there’s one thing all college students love, it’s taking a vacation during spring break or summer vacation. That noted, the Chrome student credit card has no foreign transaction fees -- though Discover isn't as widely accepted outside of the US as Mastercard and Visa. Are you a full-time university or tertiary institution student looking for credit card deals? With a student credit card, young people can charge small purchases, build a history of on-time payments and even earn great rewards. 1. While it offers a lower student rewards rate than others, its relaxed eligibility requirements are well suited for students with a brief or nonexistent credit history or other potentially disqualifying limitation -- like not having a Social Security number, if you're an international student. Things to consider when applying for a credit card, How to manage credit card spending and repayments, - Must have Natwest student current account. Instead of cash back, you earn 1.5 points per dollar spent and 25,000 points after spending $1,000 within 90 days of account opening. PC Financial Mastercard; 5. A student credit card caters for college and university students who don't have the income and credit score needed to be approved for a normal credit card. In other words, always make sure you will get accepted with even you! 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