9 Best Credit Cards For Students With Bad Credit
If you are struggling to find the right credit card with bad credit score, we have compiled a detailed list and reviewed the best cards for poor credit here
Table of Contents
- Types of Credit Cards for Bad Credit
- Subprime Credit Cards for Bad Credit
- Secured Credit Cards for Bad Credit
- Unsecured Student Credit Cards for Bad Credit
- General Requirements for a Student Credit Card
- Final Thoughts
A bad or poor credit score can feel disappointing, especially when you apply for credit cards, as you can be disqualified. Nevertheless, having bad credit does not limit all your options for credit cards. There are credit cards for students with bad credit that you can apply for and get approved with a low credit score or none at all.
Using these poor credit credit cards, you can start building your credit upward so that in the future, you have all the card options available to you.
In this post, we have reviewed all the credit cards for students with bad credit that you can apply for. There are a total of 9 options to choose from.
Types of Credit Cards For Students With Bad Credit
There are three types of credit cards that are available to students with bad credit including subprime credit cards, secured credit cards, and unsecured credit cards.
Subprime Credit Cards
These are unsecured credit cards designed for people with bad credit scores. These cards have higher interest rates and lower limits than other types of credit cards, and may also have additional fees associated with them.
Secured Credit Card
A secured credit card requires users to put in a deposit amount as collateral against the card before it can be issued. Secured cards are easiest to get with bad credit and have the same credit limit as the deposit. However, they may have higher interest rates.
Unsecured Credit Card
An unsecured card is a card that can be issued by anyone that is eligible and will usually have a higher credit limit and more rewards. However unsecured credit cards are harder to obtain with low credit scores.
Best Subprime Credit Cards For Students With Bad Credit
We are starting with subprime credit cards since many students and users may not want to put in a deposit for the secured cards.
|Lender||Scholaroo||Our view||APR Rates %||Minimum Credit Score||Learn more|
PREMIER Bankcard® Mastercard®
|Great Card for Rebuilding Credit||36||500||Visit website|
Aspire® Cash Back Reward
|Great for Fair Credit||29.99 or 36||630||Visit website|
#1 PREMIER Bankcard® Mastercard® Credit Card
The PREMIER Bankcard® Mastercard® Credit Card is designed specifically for students with bad credit. This card has a low annual fee and no deposit requirement, making it an attractive option for those who are looking to rebuild their credit score without adding a deposit. Here are a few key features:
- 24/7 Online Account Access – The account is online and can be accessed at any time.
- Low Annual Fee – based on creditworthiness the annual fee is between $50-$125.
- No Balance Transfer Fees – You wont be charged any fee for balance transfers.
- Easy Credit Line Increase – You can easily increase your credit line after 12 months if needed.
- Flexible Payment Options – You can choose from a variety of payment options to make payments more convenient.
- Global Acceptance – This card is accepted at millions of locations around the world.
#2 Aspire® Cash Back Reward Card
If you have fair credit then The Aspire® Cash Back Reward Card can help you get rewards for purchases and better your credit score. Earn up to 5% cash back on everyday purchases in popular categories such as groceries and gas. Plus, you get 1% cash back on all other purchases. Below are its key features:
1. Cash Back Rewards: This Card offers up to 5% cash back on purchases in popular and common categories such as groceries and gas, plus 1% cash back on all other purchases.
2. No Annual Fee: There is no annual fee, so no extra charges
3. Introductory APR: There is a huge benefit of 0% introductory APR for 15 months on purchases and balance transfers
4. Travel Accident Insurance: As an extra perk, you can also get travel accident insurance when you use it to pay for your airfare, accommodations or car rental.
6. Purchase Protection: As an added layer of protection, you can get purchase protection with this card if your item is damaged or stolen within 90 days of purchase.
Best Secured Credit Cards For Students With Bad Credit
The next category we are reviewing are the secured credit cards which require a deposit before it can be approved. Here are the 3 best secured credit cards:
|Lender||Scholaroo||Our view||APR Rates %||minimum Credit Score||Learn more|
Applied Bank® Gold Preferred® Secured Visa®
|Best for Lowest Interest Rates||9.99||Not Required||Visit website|
OpenSky® Secured Visa®
|Low Annual Fee||22.14||Not Required||Visit website|
Capital One® Platinum Secured
|Best for Rebuilding Credit||29.99%||Not Required||Visit website|
First Progress Platinum Select Mastercard® Secured
|Good for Credit Increment||18.74||Not Required||Visit website|
Discover it® Secured
|Best for Cashback Rewards||27.99%||Not Required||Visit website|
#3 Applied Bank® Gold Preferred® Secured Visa®
The Applied Bank® Gold Preferred® Secured Visa® as its name suggests requires a minimum security deposit of $500. It has a low annual fee of $49 and can offer credit line upto $2000. It also has the lowest interest rate of 9.99% fixed. Read below for its key features:
1. Low Annual Fee: Applied Bank® Gold Preferred® Secured Visa® has a low annual fee of only $49,
2. Generous Credit Line: You can get a generous credit line of up to $2,000,
3. Low APR: The card offers an APR as low as 9.99%, which is lower than many other secured cards on the market.
5. Verified by Visa®: There is added security through Verified by Visa® when making purchases online or over the phone.
#4 OpenSky® Secured Visa® Credit Card
The OpenSky® Secured Visa® Credit Card requires a small deposit of $200 to get the credit card. It has low annual fee of $35 and you can increase credit limit to $3000. The APR is 22.14% variable. Here are some features of this card:
1. Low Annual Fee: OpenSky® Secured Visa® Credit Card has low annual fee of $35
2. Generous Credit Line: You can get a credit line of up to $3,000
3. Low APR: The card offers an APR of 22.14% variable,
4. No Foreign Transaction Fees: There are no foreign transaction fees when you use the card abroad.
5. Fraud Protection: The Card also comes with fraud protection and is accepted at
millions of locations across the world.
#5 Capital One Platinum Secured Credit Card
This card is designed for people who want to rebuild their credit from scratch. This makes it one of the great credit cards for students with bad credit. To get the card, a refundable deposit of $49, $99, or $200 is required. The higher your deposit is, the more the credit line. YOu can deposit up to a maximum of $1000. Upon using your card responsibly, you could earn back your deposit and upgrade to an unsecured Platinum card. The features of this card include:
- No Annual Fee: There is no annual fee, so no extra charges
- ARR rates: 29.99% variable APR
- No Hidden fee: No foreign transaction fees, no replacement card fees, and no authorized user fees
- Credit Reporting: They report credit to all of the three major credit bureaus
- Refundable Deposits and Upgrades: Refundable deposits of $49, $99, or $200, and upgrade to a standard, unsecured Platinum card upon using your secured one responsibly
- Automatic Credit Line Reviews: You will be automatically considered for a higher credit line after a minimum of 6 months.
#6 First Progress Platinum Select Mastercard® Secured
The First Progress Platinum Select Mastercard® Secured Credit Card is another great option and requires a deposit of $200. The annual fee is $39 and the APR is 18.74%. The features of this card include:
- Low Annual Fee: The annual fee of $39 is lower than other unsecured credit cards on the market.
- Credit Line: You can get a credit line of upto $2,000
- Low APR: The APR rates are 18.74%
- Acceptance: This card is accepted worldwide and has no foreign transaction fee.
- Security – you get fraud protection and is Verified by Visa for all online transactions.
#7 Discover it® Secured credit card
Through Discover it® Secured credit card, students can earn a lot of rewards and cashback. The cash backs include 2% quarterly cash back at Gas Stations and Restaurants, 1% unlimited cash back on other purchases, and a cash back match equalling up to all the cashback at the end of the first year. This credit card does not require a minimum credit score and has no annual fee either, making it great for students who lack good credit.
The main features of this card include:
- Security Deposit: Refundable security deposit of a minimum of $200
- Unlimited Cashback Rewards: 1% cash back on every purchase, 2% cash back on restaurants and gas stations every quarter, and cashback match at the end of the first year
- APR Rates: 27.99% Variable APR
- No Annual Fee: There is no annual fee, so no extra charges
- Fraud Liability: There is a $0 fraud liability guarantee
- Automatic Upgrade: After 7 months of responsibly using your card, you can get your deposit back and qualify for an upgrade to an unsecured card.
- View Credit Score For Free: You can access your FICO credit score for free anytime without impacting it
Best Unsecured Student Credit Cards For Students With Bad Credit
The two best student credit cards that are easy to get are by Discover. These are unsecured but designed for students so that you don’t have to worry about credit scores. These are great to build credit scores.
|Lender||Scholaroo||Our view||APR Rates %||Minimum Credit Score||Learn more|
Discover it® Student Cash Back
|Great for Rewards & Students||17.74-26.74||Not Required||Visit website|
Discover it® Student Chrome
|Great for Everyday Rewards||14.49-24.49||Not Required||Visit website|
#8 Discover it® Student Cash Back
The Discover it® Student Cash Back is a great credit card designed for students and has many rewards without any credit score requirements. It offers a generous 5% cash back on rotating categories, 1% cash back on all other purchases. The features are:
1. 5% Cash Back: Discover it® Student Cash Back offers exciting rewards of 5% cash back on up to $1,500 in combined spending every quarter on rotating categories such as gas stations, restaurants, Amazon.com, and more. Plus you’ll get 1% cash back on all other purchases.
2. $20 Bonus: When your account reaches the annual spending limit of $1,000 in purchases within 3 months of approval , you’ll receive a $20 statement credit.
3. 0% Intro APR on Purchases: This card offers a 0% introductory APR on purchases for the first six months,
5. No Annual Fee: This card has no annual fee, making it an affordable and attractive option
#9 Discover it® Student Chrome
The Discover it® Student Chrome is also another good choice for students and does not require any credit history to get approved. It Provides 1% cash back on all purchases, and you can boost that to 5% when you shop in certain categories
1. No Annual Fee: The Discover it® Student Chrome has no annual fee,
2. Cash Back on Every Purchase: You get up to 1% cash back on every purchase. And you can also boost that to 5% when you shop in certain categories such as gas, restaurants, and more.
3. 0% APR for 6 Months: There is a 0% APR for the first 6 months on qualifying transactions,
4. ShopDiscover Program: The Discover it® Student Chrome also offers an additional bonus of up to 20% cash back at select stores when you use the ShopDiscover program.
General Requirements for Students to Get a Credit Card with Bad Credit
The eligibility requirements for credit cards vary from one to another. However, there are some general requirements that most credit card companies require and they are listed below.
- Applicant must be a U.S. citizen or permanent resident
- Applicant must be 18 years old or at the age of maturity according to your state
- Must have a Social Security Number
- Enrolled at least half-time at an educational institution as a student
- Must be under 21
- Applicant must have a source of income to pay for the card or have a cosigner who can take responsibility for that on the applicant’s behalf
Having a minimum credit score is usually not a requirement for student cards as students are just entering the financial world and it is hard for them to have good credit at the beginning of their financial journey. To have an established credit record as a student, you can have yourself added as an authorized user to your parent’s cards beforehand as this can allow you to have a credit history when you go to get your own student credit card.
Following are some FAQs regarding credit cards for students with bad credit.
What credit card is the easiest to get for students with bad credit?
The Discover it® Student Chrome is one of the easiest cards to get with bad credit or no credit. This card offers many rewards and benefits tailored to students, plus it has no annual fee and a 0% APR for the first 6 months on qualifying transactions. You can also get other secured credit cards to start building or rebuilding your credit score.
What credit score is considered bad?
Anything below 600 is generally considered a bad credit score. Although this varies depending on the scoring model used, scores below 600 are commonly viewed as a sign of poor credit and can make it difficult to get approved for certain types of loans or credit cards. However you still have options of subprime, secured and student credit cards which can be approved based on eligibility and not credit scores.
What is the easiest way to build credit score?
The easiest way to build your credit score is by using a secured credit card. A secured credit card requires you to put down a security deposit, which then becomes your line of credit. This allows you to make purchases and build your credit without the risk of defaulting on payments. Additionally, you can use this opportunity to practice responsible spending habits. If you make timely payments and use the card responsibly, you can quickly build up your credit score over time.
Can I Use My Student Credit Card For building Credit?
Yes! By making timely payments on your credit card, you can build up a positive credit score and history that will help you in many ways in the future.
In conclusion, there are different options for students to get credit cards with bad credit scores. You can apply for subprime or secured credit cards to rebuild your credit score and pay off your student debt responsibly.