College students always have a hard time when it comes to credit cards. The short credit history in addition to high debt makes it very difficult to qualify for a credit card, so what the options to get a credit card for no credit students ?
That’s a considerable issue, because a credit card may be a great way to help build credit score. A good credit is useful whenever you want to qualify for a low rate auto loan, rent a new apartment or even own a home.
So how do you get started? Since the qualification for a credit card depends on credit history …
The answer to this is to apply for a credit card for no credit student, then make sure to use it responsibly.
What is a student credit card?
Credit cards for no credit Students have generally much lower credit limits than regular credit cards. The requirements to get approved however, are less stringent, since most students anyway have very little to no credit history
Student credit cards may also help you with financial education, with rewards made especially for students, tools like payment reminders and a cash-back boost for being responsible making payments on time also for getting good grades.
Let’s check out best pick of credit cards for no credit students:
3. Deserve® Edu Mastercard
International students and Students with no credit history
The Deserve® Edu MasterCard offers students the opportunity to start from scratch. This specific credit card gives international students the chance to qualify for a credit line without the need for a Social Security number or a cosigner.
It’s perfect for international student who wants to make overseas trips. It offers MasterCard Platinum benefits, like roadside assistance, ID theft protection and price protection. And no foreign transaction fees.
You are eligible as a Deserve® Edu MasterCard owner to 1% cash back, as statement credits, on all your purchases. You will also get a reimbursement of $59 for Amazon Prime Student subscription.
Things to keep in mind:
This credit card for students comes with some limitations:
- Deserve® Edu Mastercard does not allow balance transfer or cash advances. And watch out for the card’s 20.49% variable APR on purchases.
Deserve® Edu Mastercard is perfect to help you start building a positive credit history, with careful responsible use, while at the same time earning some nice cash back.
Use Deserve® Edu credit card to make any purchases you may easily pay off by the monthly due date in order to to maximize your rewards. And make sure to use the card to sign up for Amazon Prime membership for students.
2. BankAmericard® credit card
Great for students who need to understand how credit works. With responsible use this credit card may help you build some good credit score.
BankAmericard® credit card for students is made to assist students get their credit score on the right track.
The BankAmericard® credit card comes with the benefit of 0% intro APR offer for 15 billing cycles after purchases (following this period the normal variable APR will be between 15.24% and 25.24%).
It also allows to get a 0% APR for 15 billing cycles on your balance transfers within the first 60 days of opening the account. (following that period the variable APR of 15.24% to 25.24% will apply).
Things to keep in mind:
Make sure to watch out for the end of the 0% APR offer. Don’t make the mistake to get too comfortable carrying the balance and forget about this important date.
You can avoid interest charges on your purchases with this credit card altogether whenever you pay off your debt by the monthly due date.
How to use it
The introductory period with 0% APR makes this credit card appealing for bigger purchases and balance transfers.
Plan it right, if you need to transfer a balance make sure to do it within the first 60 days of opening your account to take advantage of the free balance transfer.
1. Capital One® Journey® Student Rewards
Perfect for students who want to get familiar with good habits. Capital One Journey offers some extra bonuses for using this card responsibly, you may for example get a cash back boost for your payments on time. It’s very crucial to make your credit card payments on time. Late or missed payments may really harm your credit scores so this credit cards motivates you more to responsible with cash back rewards.
Capital One® Journey® Student Rewards offers great incentives to pay off your debt on time.
You will earn a 1% cash back on all your purchases and you may boost that rate to 1.25% for every cycle when you make minimum payment on time.
An additional incentive is that you may get a credit limit increase whenever you pay the first five monthly payments on time. This credit limit increase will help you build your credit because a higher limit means that you lower the credit card utilization ratio.
This is credit card is designed especially for students, however you may need some sort of income to qualify for this Capital One Card. as a rule your monthly income have to exceed your monthly rent or mortgage by a minimum of $425 or you may not qualify.
You also need to keep in mind that this card has a high variable APR. Which means you may be paying a ton in interest charges if you keep carrying a balance on your card from month to month.
You should make sure to pay off your balance on time to be on the lowest interest rate.
This credit card is really great to practice healthy credit habits. Making sure to pay your minimum monthly payments on time can help you achieve a credit limit increase in a very short time period. And you get rewarded with a cash back bonus.
Can’t you qualify for a student credit card?
If your credit situation right now makes it very difficult to qualify for a credit card for no credit student , you still have some options.
Students with no credit can still qualify for secured credit cards. Secured credit cards are a perfect place to start from, since they help prevent overspending and gives the possibility to practice good credit habits.
Notice: If you fail to build credit from zero, you’re not alone.