American Express Student Credit Cards

American Express does not offer credit cards to people with limited credit history, and students usually have a poor credit history. It takes years to build a good credit and college students are at the time of their lives where they have just started building it. Therefore, American Express does not have cards exclusively for students.

There are, however, other card options from American Express like their personal, business, or travel credit card. Students can apply for these American Express cards if they have a FICO score of at least 670 and they are able to meet all the other eligibility requirements too. Following are a few options to consider that have no annual fees and offer good rewards.

Lender	Scholaroo rating	Fixed rates starting (APR)	Variable rates starting (APR)
Blue Cash Everyday® Best for no annual fee Visit website	4.8/5	19.24% to 29.99%	670+
Amex EveryDay® Credit Card Best for a lower interest rate Visit website	4.8/5	18.24% to 29.24%	670+
Delta SkyMiles® Blue Best for travelling Visit website	4.6/5	20.99% to 29.99%	670+

Lender

Blue Cash Everyday®

Best for no annual fee

Scholaroo rating

4.8/5

Fixed rates starting (APR)

19.24% to 29.99%

Variable rates starting (APR)

670+

Visit website

Lender

Amex EveryDay® Credit Card

Best for a lower interest rate

Scholaroo rating

4.8/5

Fixed rates starting (APR)

18.24% to 29.24%

Variable rates starting (APR)

670+

Visit website

Lender

Delta SkyMiles® Blue

Best for travelling

Scholaroo rating

4.6/5

Fixed rates starting (APR)

20.99% to 29.99%

Variable rates starting (APR)

670+

Visit website

There are some pros and cons of having a student credit card and we have given them below so you can make an informed decision:

Pros of a Student Credit Card

• Easy-to-get for students: Student credit cards have flexible income and credit requirements as they are designed specifically for students and are, therefore, easier to get approved for.
• You can build your credit history: when you are starting out as a student, it is important to start building your credit history for future financial stability.
• You can earn rewards: Credit cards offer rewards and points that can be beneficial for daily purchases and cash back.
• Travel Perks: With some credit cards you get many travel benefits and rewards on airline tickets and hotel stay.
• They offer convenience: Credit cards are easy to use and accepted in most places, so there’s no need to carry cash or checks with you.
• Emergency funds: Credit cards can be really useful in an emergency, as they provide access to funds that may not be available otherwise.
• Lower chances of overspending: Most student credit cards have low starting spending limits. This helps to keep students’ spending in check so that they are able to manage their monthly payments well.

Cons of a Student Credit Card

• High interest rates: If you don’t pay off the full balance every month you will be charged penalties and high interest rates which makes you lose money over time.
• Identity Theft: It is easy for people to steal your identity through online shopping if you are not careful.
• Negative impact on credit score: If you miss payments or exceed your credit limit, it can have a negative impact on your credit score.
• Temptation to live beyond your means: With a credit card you have an amount of money that you can spend but not pay immediately which makes it tempting to live beyond your means. However, the bills and debt will add up making it extremely stressful in the long run.

If you have a good to excellent credit score, you can consider credit card options from Amex. Following are the benefits of getting an Amex card and also some downsides to it to consider before making a final decision.

Benefits of Getting an AMEX

• No annual fees: Some of the credit cards by Amex do not charge any annual fee which is better in the long-term. However, many other credit cards by other companies can provide you with the same benefit.
• High rewards: Most American Express student credit cards come with high rewards and bonuses.
• Wider acceptability: American Express credit cards may be more widely acceptable nationally and internationally than some other payment networks like Discover it.
• Can help establish a good credit history: Like all other credit cards that report to the major credit bureaus, Amex can also help in establishing a good credit history.

Costs of Getting an AMEX

• No student-specific credit cards offered: Student credit cards are designed specifically for college students in mind. They offer relevant rewards and have flexible eligibility requirements.
• Limited acceptability in some countries: You may not be able to pay for purchases in some countries. Getting a Mastercard or a Visa would be more suitable if you make international purchases often.
• High credit score requirement: American Express credit cards require a high level of credit score for approval. Applicants that have a credit score of that is above 700 have higher chances of approval.
• High income requirements: There may be high income requirements associated with these credit cards that college students may find hard to meet.
• Chance of overspending: Unsecured credit cards generally have higher credit limits than student credit cards which can result in overspending. Since most college students have limited income, it may become hard to make these repayments. Therefore, it is better to go for cards with lower limits to avoid hurting your credit score.