8 Student Credit Cards With No Credit History Required
Student Credit Cards with No Credit History can help college-age adults build credit, providing access to higher credit scores and better rates in the future.
Table of Contents
- 8 Student Credit Cards With No Credit History
- #1 Discover it® Secured Credit Card
- #2 Capital One® Platinum Secured Mastercard®
- #3 Bank of America® Travel Rewards Credit Card for Students
- #4 Wells Fargo Cash Back College℠ Card
- #5 Citi ThankYou®
- #6 Chase Freedom Student Credit Card
- #7 Capital One Journey Student Credit Card
- #8 Discover it® Student Cash Back
- How to Choose a Student Credit Card
- How to Apply for Student Credit Cards Without Credit History
- Pros & Cons or Credit Cards
- How to Build Credit Using your New Credit Card
- Final Thoughts
Student credit cards are designed specifically for college students and provide an excellent way to build a good credit history. Having access to a student credit card is vital for young adults in order to start building their credit profile before they enter the world of professional (adult) finance. This can be especially challenging for those with no existing or limited established credit history.
Finding student credit cards with no credit history for such students is often a daunting task, but it can be made easier if one knows what to look for. In this article, we’ll explore the best student credit cards that don’t require a credit history and how to apply for them.
8 Student Credit Cards With No Credit History
Consider any one of the following student credit cards based on your needs. Before applying for any card, make sure to compare all the features and benefits and determine which one is right for you.
|Lender||Scholaroo||Our view||APR Rate %||Annual fee||Learn more|
Discover it® Secured
|Great for cash-back rewards||24.99%||None (security deposit)||Visit website|
Capital One® Platinum Secured
|Best secured credit card||26.99%||None (security deposit)||Visit website|
Bank of America® Travel Rewards
|Great for travel benefits||16.24%–26.24%||None||Visit website|
Wells Fargo Cash Back
|Good cash-back rewards offerings||15.90%–25.99%||None||Visit website|
Citi ThankYou® Rewards
|Ideal for dining and entertainment||17.99%–26.99%||None||Visit website|
Chase Freedom Student
|Easy access to cash||16.49%–25.24%||None||Visit website|
Capital One Journey Student Card
|Good for low interest rates ||11.99–23.99%||None||Visit website|
Discover it® Student Cash Back
|Good cashback program||13.49%–22.49%||None||Visit website|
#1 Discover it® Secured Credit Card
This secured credit card helps students build their credit score with no prior credit history required. It offers cash back rewards of up to 2% on eligible purchases, and customers can also benefit from a 0% introductory APR for the first 6 months after account opening.
Benefits and Rewards: 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases each quarter, plus 1% cash back on all other purchases.
Fees and Interest Rates: $0 annual fee with this card and a 24.99% Variable APR
#2 Capital One® Platinum Secured Mastercard®
This credit card is designed for students with no prior credit history, and it offers no annual fee. The card also features an initial security deposit requirement of $49, $99 or $200, depending on the individual’s creditworthiness.
Benefits and Rewards: Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed.
Fees and Interest Rates: $0 annual fee and a variable APR of 26.99%.
#3 Bank of America® Travel Rewards Credit Card for Students
This card is a great option for students who want to earn rewards points on travel purchases with no credit history required.
Benefits and Rewards: Earn 1.5 points per $1 spent on every purchase and 25%–75% bonus on points when redeemed for travel purchases.
Fees and Interest rates: No annual fee, no foreign transaction fees, and 0% intro APR for 12 billing cycles (then 16.24%–26.24% variable).
#4 Wells Fargo Cash Back College℠ Card
Wells Fargo Card is another one of the student credit cards with no credit history required. This card is a great fit for students with no credit history because it allows them to earn cash-back rewards on all their purchases.
Benefits and Rewards: Earn 3% cash back on gas, grocery, and drugstore net purchases for the first 6 months (then 1%).
Fees and Interest rates: 0% intro APR for 6 months (then 15.90%–25.99% variable) and no annual fee.
#5 Citi ThankYou®
This credit card is an ideal choice for students who want to earn rewards points on everyday purchases with no credit history required.
Benefits and Rewards: Earn 2 ThankYou® points per $1 spent on dining out and entertainment and 1 ThankYou® point per $1 spent on all other purchases.
Fees and Interest rates: No annual fee, no foreign transaction fees, and the APR is 17.99%–26.99% (variable).
#6 Chase Freedom Student Credit Card
This card is a great fit for students with no credit history because it offers easy access to cash, 0% intro APR, and the ability to earn rewards on everyday purchases.
Benefits and Rewards: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, and 1% cash back on all other purchases.
Fees and Interest rates: A 0% intro APR for 6 months (then 16.49%–25.24% variable) and no annual fee.
#7 Capital One Journey Student Credit Card
This card is an ideal choice for students with no credit history, as it provides a low APR and easy access to cash.
Benefits and Rewards: unlimited 1% cash back on every purchase plus a bonus of 0.25% cash back when you pay your bill on time.
Fees and Interest rates: No annual fee, no foreign transaction fees, and the APR is 11.99–23.99% (variable).
#8 Discover it® Student Cash Back
This credit card offers great rewards and benefits to students with no credit history, such as a cashback program and 0% intro APR.
Benefits and Rewards: 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, and 1% cash back on all other purchases.
Fees and Interest rates: A 0% intro APR for 6 months (then 13.49%–22.49% variable) and no annual fee.
How to Choose a Student Credit Card with No Credit History
When selecting a first credit card as a young adult, there are several factors to consider. Firstly, you should be aware of the type of cards and which one is best for you. Then you should look at factors such as interest rates, annual fees, reward programs, etc., to determine the best student card with no credit history for yourself.
Types of Student Credit Cards
Finding the right credit card for a student without a credit history involves understanding what types of cards exist and their associated benefits, which can help make the decision process easier. In this section, we’ll look at the types of student credit cards available and how they differ from one another.
Secured credit cards
One of the more common types of credit card, this card requires a security deposit before it can be used and offer lower credit limits than unsecured cards. They provide an opportunity for students with no credit history to build their credit score and show their ability to use a line of available money responsibly.
Pros: low credit limit, easier to be approved, can help build credit score
Cons: requires security deposit, generally higher interest rates
Unsecured credit cards
The most common type of credit card, it doesn’t require a security deposit and typically offers higher spending limits than secured cards. These cards must be qualified for and applicants will need to have a good credit score in order to be approved.
Pros: no security deposit, higher spending limits
Cons: more difficult to be approved, may require good credit score, generally higher interest rates than secured cards
This is a card that can be used like a credit card without the need to be approved. They are funded by the user and typically have low spending limits.
Pros: no approval needed, can help build budgeting skills
Cons: lower or no rewards, limited spending limits
Store credit cards
These types of cards are usually issued by retailers and department stores and can be used to purchase items at the store. These cards have lower spending limits than other types of cards and are often easier to be approved for, making them a good choice for students with no credit history who want to start building their credit score.
Pros: easier approval process, may offer rewards or discounts on purchases
Cons: low spending limit, can only be used at specific stores, generally higher interest rates than other cards.
Factors to Consider When Choosing a Credit Card
These factors will help you choose the right student credit card and make sure that you are getting the best value for your money. Make sure to compare different cards and read the terms and conditions carefully before making a choice.
You should always look for a student credit card with low interest rates to make sure you are getting the best deal on your purchases.
Be sure to check what kind of annual fee is associated with a particular student credit card and decide if it’s worth it for you.
Many student credit cards offer rewards programs that can help you save money when shopping. Look for a card that offers discounts and bonus points to maximize your savings.
Look into the customer service associated with a particular student credit card. Make sure the issuer has good customer service so that you can easily get help if needed.
How to Apply for Student Credit Cards with No Credit History
The process of applying for a credit card for the first time is relatively straightforward.
In order to qualify for a student credit card, look at the following factors:
Applicants must be at least 18 years old.
A steady source of income is typically required to apply for a student card without an established credit history.
Student status verification:
Students need to provide proof of enrollment or a valid student ID to apply.
Steps to Apply for a Credit Card
Use the following steps when applying for a student credit card.
Step 1: Find the right card
Before applying, compare different credit cards to see which one provides the best value for your needs. Consider factors such as cashback rewards, bonus points, and annual fees.
Step 2: Research requirements
Review the eligibility requirements for each card you’re interested in and make sure you meet them. This will save you time and ensure your application is successful.
Step 3: Gather documents
You’ll need to provide proof of identity, such as a social security number, driver’s license, or passport, and proof of address, such as an official bill or bank statement. You may also need to submit evidence of your income.
Step 4: Complete the application form
Fill out all of the required information on the application form, including your personal details, contact information, and income details.
Step 5: Submit your application
Submit your completed application along with any additional documents you’ve gathered to the lender or card issuer.
Step 6: Wait for a response
The card issuer will review your application and contact you with their decision. This can take several days or weeks, so be patient. Once approved, you’ll receive your new card in the mail.
Pros & Cons of Getting a Credit Card
Before we get started, here are the benefits and potential drawbacks associated with getting a credit card.
- Establishes credit history
- Allows you to manage expenses responsibly and build good financial habits
- Can help with emergencies or major purchases
- Offers rewards, such as cashback, discounts, or travel points
- Potential of high interest rates if payments are not made on time
- Can lead to debt if not used responsibly
- Potentially high annual fees
How to Build Credit Using your New Credit Card
There are a few ways that can help you build a good credit score.
- Always pay on time
It is important to pay off what you owe on time before deadlines. This is the most important way you can build up and maintain a good credit score as payment history makes up 35% of the FICO credit score.
- Keep a low credit utilization
People who max out their credit utilization or come close to it often are considered risky individuals who might not be able to pay back what they borrowed. You can also increase your credit limit which in turn will lower your credit utilization and raise your FICO score.
- Use your card regularly but responsibly
It is important not to use your card as the credit card companies want you to do so. However, make sure that you pay up on time.
- Use Autopay
Using Autopay will make sure that you are paying up every month and on time. There won’t be any chance of missing your payments.
Top Tips for Using a Credit Card Responsibly
Following these tips can help you make the most of your student credit card without accruing large amounts of debt or damaging your credit score.
- Make sure to understand the terms and conditions of your student credit card so you know exactly what you’re signing up for.
- Pay off as much of your balance as possible each month to avoid interest charges.
- Set a budget for yourself and stick to it when spending with your credit card.
- Avoid making purchases that you can’t afford to pay for in full each month.
- Check your credit card statements regularly to ensure all charges are accurate and legitimate.
- If possible, set up automatic payments from your bank account to make sure you never miss a payment due date.
- Take advantage of cash-back or reward programs offered by your card issuer.
- If you find yourself in a difficult financial situation, contact your credit card company and ask for help instead of simply ignoring payments due.
Here are some frequently asked questions:
Can you get a credit card at 18 with no credit?
Yes, it is possible to get a credit card at 18 with no credit. Look for student cards that are designed for first-time borrowers. However, you will need to provide proof of income to qualify which can even be your monthly allowance transferred into your account on a monthly basis.
How can I build credit for the first time?
To build credit for the first time, you can start by opening a credit card account (either on your own or with the help of a co-signer) and begin paying your bills on time every month. Another way to build credit is to be added to a parent or guardian’s credit card as an authorized user – just make sure that the card in question has this option available.
How long does it take to build credit history?
Building a credit history can take anywhere from a few months to over a year, depending on the types of accounts that you have and your payment record. The more accounts you open and the better you manage them, the faster your credit history will grow – provided that you do so responsibly.
Student credit cards can be a great way to build a credit history and reap the benefits of financial freedom. The cards mentioned are some of many that offer unique features such as lower interest rates, exclusive rewards programs, and more flexible payment terms. Having said that, it’s essential to practice responsible credit card use by paying off your balance in full each month. Before applying for a card, take the time to explore and compare all of your options to find the one that best suits your needs. With a little bit of research and responsible credit card management, you can reap the rewards of a student credit card and be well on your way to building a credit history.