Credit cards for college students

Credit can play a major role in your financial future. Using a credit card responsibly is one way to build good credit. But as a college student, you may not have the credit history required for some credit cards. 

That’s where student credit cards come in. They’re designed for college students with little to no credit history. Some even offer rewards. Here’s what to look for in a student credit card and how to choose one that’s right for you.

What you’ll learn:

• Comparing card features, interest rates and terms may help you determine whether a student credit card is right for you.

• To apply for a student credit card, you typically have to show you’re enrolled in a college or university.

• Depending on your age, you might also have to show proof of income. 

• Capital One has two student rewards credit cards: Savor Student and Quicksilver Student.

A student credit card may be your first credit card. So here are some important card features to know about and compare: 

• Annual percentage rate (APR): Different credit card transactions may have different APRs. Purchases may have one APR, while cash advances may have another, for example. Make sure you understand all of a card’s APRs and when they apply.

• Fees: Check if there are any fees associated with the card, such as annual fees or late fees.

• Unauthorized charge coverage: Some card issuers have policies like $0 liability for unauthorized charges if your card is lost or stolen.

• Automated payment reminders: It’s important to always pay on time. But during busy times, things can slip. Some card issuers let you set up text or email alerts to help keep track. 

• Foreign transaction fees: Some cards don’t charge foreign transaction fees, which is helpful if you’re heading abroad for a semester or the summer.

• Rewards: Some student cards offer cash back rewards, sometimes with no limit on the amount that can be earned.

• Credit limits: It’s important to know your card’s credit limit and make sure your balance doesn’t exceed it. By using the card responsibly over time, you may qualify for a credit limit increase. 

One of the biggest advantages of a student credit card is that you can build good credit if you use it responsibly. So no matter what card you choose, make sure you’re doing things like making on-time payments and not overspending.

Capital One offers two student credit cards: Savor Student and Quicksilver Student. CardRatings even named the Quicksilver Student card 2024’s best student credit card.¹

Both cards offer a one-time $50 cash bonus when you spend $100 on purchases within the first three months of opening the account.² Here’s a look at other benefits.

The Savor Student card offers unlimited 3% cash back at grocery stores and on dining, entertainment and popular streaming services, plus 1% cash back on all other purchases. You can also get 5% cash back on hotels and rental cars booked through Capital One Travel and 8% cash back through Capital One Entertainment.³ And there’s no annual fee. View important rates and disclosures.

The Quicksilver Rewards for Students card offers unlimited 1.5% cash back on every purchase, every day. You can also earn 5% cash back on hotels and rental cars booked through Capital One Travel and 5% cash back through Capital One Entertainment.⁴ And there’s no annual fee. View important rates and disclosures.

Applying for a credit card generally works the same whether you’re a student or not. Here are some steps you might take.

You may not think you have a credit history, but the Consumer Financial Protection Bureau (CFPB) says it’s worth checking anyway. That way, you can be more confident about what’s in your credit reports.

CreditWise from Capital One gives you free access to your credit report and score anytime. CreditWise is free and available to everyone. And using it won’t hurt your scores.

You can also get free copies of your credit reports from all three major credit bureaus by visiting AnnualCreditReport.com.

Approval requirements vary by card issuer. Some cards may not be an option if you have a limited credit history. But student credit cards and secured credit cards are designed to accommodate applicants with no credit history. 

There may also be age and income requirements. It’s possible to get a credit card once you’re 18. But issuers aren’t allowed to open accounts for people younger than 21 unless they can show proof of income.

You may be able to choose a card with benefits and rewards that align with your spending habits. Capital One student credit cards let you earn rewards for purchases you’re already making. If you prioritize food and fun, the Savor Student card could be a good fit. If you prefer more consistent rewards for every purchase, a Quicksilver Student card could be right for you.

Application requirements might vary. But you typically need to provide information like your address, date of birth and employment or income information. You also generally need to show proof of enrollment at a college or university.

The pre-approval process can tell you whether you’ve met the initial criteria required to become a cardholder. It can also help avoid unnecessary hard inquiries, which can hurt your credit scores.

You can typically apply for a credit card in person, by mail, by phone or online. The online process is often the quickest and most convenient.

Another way to access credit is by becoming an authorized user on a loved one’s credit card account. If the account is used responsibly by all parties, being an authorized user could also help you kick-start your credit history. But if the authorized user or account holder doesn’t use the account responsibly, it could hurt both people’s credit.

Building good credit takes time and responsible use. So for many students, it makes sense to start early. Choosing a card and learning how to be a responsible cardholder can serve you well after you graduate and set out into the world. 

Ready to get started? Apply for a Capital One student credit card today. You can also see whether you’re pre-approved for a student card. Pre-approval is quick and has no effect on your credit scores.