Going to college for the first time or returning for a graduate degree can come with a lot of newfound independence. For many students, it’s also an opportunity to develop good financial habits. One important aspect of managing finances is having a credit card. In this blog, we will explore the best student credit cards for March 2024. These cards are designed to help students build credit, earn rewards, and develop good financial habits for their future.
Why Building Credit as a Student is Important
Building credit while you’re a student can help you prepare for the postgrad future when you’ll have more income and more expenses. By laying the foundation today, you can establish the credit you’ll need to rent an apartment, take on auto or personal loans, buy a home, and more. Plus, using a credit card responsibly for your spending may offer savings and perks for your tighter student budget.
Short-term and Long-term Benefits
Each card below allows students to build credit and earn rewards on their spending. If you have little to no credit history, you’re more likely to get approved for a starter card designed for students or building credit. Additionally, every card on our list regularly reports payments to all three credit bureaus (Equifax, Experian, and Transunion) and offers access to your credit score, such as Vantage score and FICO, so that you can track your credit progress over time.
Best Student Credit Cards for March 2024
1. Bank of America Customized Cash Rewards for Students Credit Card
The Bank of America Customized Cash Rewards for Students is similar to the non-student cashback version of this credit card and has a lot of potential rewards value for new cardholders. Here’s a rundown of the key features: – Annual fee: $0 – Welcome offer: $200 cash welcome bonus after you spend $1,000 within the first 90 days – Rewards: Earn 3% cash back in the category of your choice among gas and EV charging stations, online shopping, dining, travel, drug stores and pharmacies, home improvement and furnishings. Also get 2% cash back at grocery stores and wholesale clubs. Earn 1% on everything else. – Details: This card comes with an introductory 0% APR on new purchases for 15 billing cycles. After that, the variable APR is 18.24% – 28.24%. – Why it’s good for students: Not only is it a card geared towards student applicants, but the Customized Cash Rewards card also has a lot to offer students who may have longer journeys to and from the classroom. We like this card for commuters specifically thanks to its generous cashback rate at gas stations, the highest among student cards we compared.
2. Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Student Cash Rewards card is a close relative to its counterparts in the Savor lineup. This card designed for students can make a great option for building credit while earning cash back through undergrad, grad school, and beyond. Here’s what you need to know: – Annual fee: $0 – Welcome bonus: $50 cash bonus after you make at least $100 in purchases within the first 3 months – Rewards: Earn 3% cash back in the categories of dining, entertainment purchases (including movie theaters, amusement parks, tourist attractions, and more), and popular streaming services (Netflix, Hulu, Disney+). Earn 2% cash back at grocery stores (not including Target and Walmart). Earn 1% cash back on everything else. – Details: You can redeem your cash back for statement credits, a check, gift cards, or toward recent purchases made with your card. – Why it’s good for students: The range of cashback categories offered by SavorOne can offer a solid amount of cash back over time. Trips to the movies, concerts, or sporting events can become a little more affordable with 3% savings. You’ll also get 3% back each time you eat out and for any streaming services you pay for each month. But we like this card most for the 3% grocery category, which makes it one of the best cards for students living off campus without a meal plan.
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3. US Bank Altitude Go Secured Visa Card
US Bank’s Altitude Go card is a travel rewards card with everyday bonus rewards categories. This secured version can give you great value on your spending habits. Here are the details: – Annual fee: $0 – Rewards: This card has tiered bonus categories that cover a range of spending options. Earn 4X points on dining, takeout, and restaurant delivery. Earn 2X points at grocery stores, grocery delivery, streaming services, gas stations, and EV charging stations. Earn 1X points on everything else. – Details: You’ll need a minimum $300 to a maximum $5,000 refundable deposit upon opening. You can redeem your points for travel, cash back toward purchases, and more. There’s a 2,500 Redemption minimum. – Why it’s good for students: A secured credit card can be a useful tool to help build your credit. The refundable deposit you make at opening will determine your credit line and act as collateral for the credit card company. That’s why secured credit cards can be easier to access than standard cards. The US Bank Altitude Go Secured stands out for students looking to build credit and earn rewards. This card’s rewards rate on dining, in particular, is unmatched among cards available for students today at 4X points per dollar spent.
4. Prime Visa Credit Card
The Prime Visa card can help any frequent Amazon.com shopper save a lot of money on classroom supplies and other essentials. But it can also be a solid choice for everyday spending. Here’s what you need to know: – Annual fee: $0, but it does require Amazon Prime membership – Welcome bonus: $200 Amazon gift card upon approval – Rewards: Earn cash back in rewards categories beyond just Amazon. Get 5% cash back on Amazon.com, AmazonFresh, Whole Foods Market, and Chase travel with an eligible Prime Membership. Get 2% cash back at restaurants, gas stations, and on local transit and commuting. Get 1% cash back on everything else. Details: In addition to standard rewards, you may earn up to 10% cash back on different products and categories at Amazon.com that change throughout the year. Rewards redemption options include cash back, travel through Chase, and toward purchases you make with Amazon. – Why it’s good for students: This card can save any Amazon shopper a good amount of money, but it can be especially lucrative for college students. The Prime membership required for this card typically runs $14.99 per month or $139 per year. However, as a student, you’re eligible for a discounted rate of $77.99 per year. In addition, to the range of rewards categories, we include the Prime Visa on this list for the 5% savings you can get on all your Amazon spending. College students going back to school spent an average of $1,367 on supplies and other back-to-college gear this year.
Conclusion
These are just some of the best student credit cards available for March 2024. Each card offers unique features and benefits that can help students build credit, earn rewards, and save money. Whether you’re a commuter, a student living off-campus, or an avid Amazon shopper, there’s a credit card on this list that can meet your needs. Remember to use credit cards responsibly and pay your bills on time to continue building a strong credit history.
