Are you looking for Best College Student Credit Cards with No Income and Credit History? Then you’re at the right place. If you’re a college student who wants to improve your credit score and build good credit habits, student credit cards can be a great way to achieve financial freedom and independence.
In this post, we’ll look at the Best College Student Credit Cards with No Income and Credit History. We’ll also look at the advantages of using student credit cards and how to pick the right one.
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What is a Student Credit Card?
A student Credit card is a type of credit card designed and issued for students attending college or university. A student card will typically have fewer benefits and lower limits than a consumer card designed for people with strong credit and higher incomes since students are likely to have little or no income, and weak or no credit.
A lot of student cards still have rewards and some extra benefits, but there are times when a student card feels like a watered-down version of a consumer card. For example, the Discover it Student cash back card has many of the same features as the Discover it Cash back card but with a shorter introductory APR (Annual Percentage Rate) period.
A student card may also offer fewer additional benefits and may offer more moderate rewards earning.
List of 6 Best College Student Credit Cards with No Income and Credit History
1. Discover It Student Cash Back Credit Card
- With Discover It you will get 5% cash back every three months on regular purchases at grocery stores, restaurants, gas stations, and online retailers like Amazon.com. Once enabled, you can earn a maximum of four times per quarter.
- Additionally, you’ll get 1% cash back on all other transactions automatically. When your first year is over, it will automatically match your cash back.
- Both the minimum and maximum awards are unlimited.
- Annual fee: There is no yearly charge that is 0$.
Drawback: If you plan to use Discover abroad, then you should know that it is not as commonly accepted as Mastercard, Visa, or even American Express. Students that travel or study abroad suffer from this drawback.
2. Bank of America Travel Rewards Credit Card for Students
If you’re a student looking for a Best College Student Credit Cards with No Income and Credit History that won’t break the bank, the Bank of America Travel Rewards card is the perfect choice.
- It’s easy to earn rewards and has no annual fee, so you don’t have to worry about spending too much money.
- Plus, it’s perfect for study abroad because it doesn’t have any foreign transaction charges. You’ll get 1.5 points per dollar for all purchases every time, and you won’t get any points expiring.
- And the best part? You can get up to 25,000 bonus points online if you spend $1000 in the first three months of opening your account.
- High transfer fees for balances.
- No extra award categories exist.
- High penalty APR and late fee.
3. Capital One Platinum Secured MasterCard
This card is perfect for students because you don’t need a credit history and it doesn’t have any annual fees.
- All you have to do is put down a $49 or more security deposit and it’ll come back to you as a statement credit when you make your payments on time.
- Plus, it has a great APR of 29.99% and a 3% cash advance fee, so you don’t have to worry about any hidden fees.
- Approving for the card takes just a few seconds, and you can access your account 24/7 from your computer or phone with Capital One’s mobile app.
- You can also keep track of your credit score with Capital One’s Credit Wise free of charge.
- Need to pay a Security Deposit of $49
4. Chime Credit Builder Visa Credit Card
- A secured credit card that can help students in building credit is the Chime Credit Builder Visa credit card. You pay the security deposit and can use it to settle any unpaid balances. With this, you won’t ever miss a payment.
- No need to pay annual fees, interest rates, and even no credit history is required.
- This card has some shortcomings, such as a lack of benefits. To use this credit card, you’ll also need to open a Chime checking account.
5. U.S. Bank Altitude Go Visa Secured Card
If you’re a student looking to get the most out of your rewards, you’ll love the U.S. bank altitude go Visa secured card.
- With this in your hands, you’ll earn up to 4 points for every dollar you spend on dining and restaurant delivery and takeout, as well as points on all other qualifying purchases.
- You will earn high earning rates in areas where you’re most likely to spend your money, such as streaming purchases, where you’ll get an annual credit of $15.
- There’s no annual fee on the card,
- Need to pay a $300 security deposit.
- You’ll pay an annual percentage rate (APR) of 29.24%.
6. Capital One Quicksilver Student Cash Rewards Credit Card
If you’re looking for a Best College Student Credit Cards with No Income and Credit History that won’t cost you a penny a year, has a really good cashback program, and doesn’t require you to have a credit history, then you’ve come to the right place!
- With no annual fees, you can earn rewards while building your credit history.
- Plus, you’ll get a 0% introductory APR on purchases for six months and 10.99% on balance transfers for the same amount of time.
- After that, you’ll be charged an APR between 17.99% and 26.99%. And if you’re traveling outside the U.S., you can take advantage of the 24-hour Travel Assistance benefits and no foreign transaction fees. It’s a full-loving Package
- It requires balance transfer fees.
- Doesn’t requires an initial reward bonus.
Eligibility Criteria for Best College Student Credit Cards with No Income and Credit History
If you’re a student, you’ll need to be 18 Years or older to apply for a Best College Student Credit Cards with No Income and Credit History. Some card companies or issuers will ask you to have a certain credit score or make a certain amount of money, but most student cards are for people who don’t have much or no credit.
You will also need to show that you’re enrolled in school or have a student Id.
Benefits of Best College Student Credit Cards with No Income and Credit History
1. Establishing credit history and building credit score
Using student credit cards responsibly can help you build your credit history and credit score. If you pay your bills on time, lenders will be more likely to consider you as a responsible borrower.
2. Developing financial responsibility
Having a student credit card can help you develop important financial skills such as budgeting and money management. This can help you avoid spending too much money and accumulating high interest debt.
3. Benefits of using a student credit card
Some student credit cards offer rewards or cashback programs to encourage you to use the card. You can get rewards for using the card, such as cashback, points redeemable for purchases, or discounts.
4. Fraud protection
Most Best College Student Credit Cards with No Income and Credit History offer robust fraud protection. This means that you won’t have to worry about losing money in case of fraud or theft. You’ll have zero liability for any unauthorized transactions.
How to Choose the Right Student Credit Card
When it comes to choosing the right student credit card for you, there are a few things to keep in mind:
1. Understand the fees and interest rate
Select a credit card with low interest rates and little extra costs (such as yearly or debt transfer fees).
2. Keep the credit limit in mind
A lower credit limit can be better for you if you have never used a credit card before. If your credit limit is too high, you can be more likely to overspend.
3. Evaluate Rewards and Cash Back Programs
Find a card that matches your spending habits, if you’re looking for one that offers rewards and cash back programs. For example, if you travel frequently, a card with frequent flyer miles or points that you can use to book flights might be what you’re looking for.
4. Consider Your Credit Score and Income Requirements
Some credit cards may have minimum credit scores or income requirements, which can affect your approval. Look for a credit card that is designed for those with limited or no credit history.
5. Additional Perks and Benefits to Consider
Finally, think about any other perks and benefits your student credit card may offer, such as:
- Fraud protection
- Extended warranties on purchases
- Free credit score monitoring
How to Apply for a Student Credit Card
To apply for your student Credit card, you will usually need to submit some form of proof of enrollment, such as a student ID. You will also have to provide some basic information about yourself, including your name, your address, and your income.
You can apply online or in person, depending on your credit card issuer, and you will receive your decision within a couple of days.
Alternatives to Best College Student Credit Cards
If you’re looking for a way to avoid Best College Student Credit Cards with No Income and Credit History or don’t qualify for one, there are a few options to consider:
- For those who don’t want to use credit cards, debit cards are a good option. But they don’t offer the same credit building benefits.
- If you want to control your spending and stay out of debt, prepaid cards are a great way to go.
- And if you have limited credit or a low score, secured credit cards are a great option.
- You can also add an authorized user to a parent’s credit card account as an alternative to getting a student card.
Frequently Asked Questions
Which student credit card is the best?
Your specific requirements and preferences will decide which credit card is perfect for students. Choose credit cards that have low-interest rates, limited fees, and rewards or cashback structures that fit your spending preferences.
For a student credit card, what credit score is required?
Many student credit cards may not have a minimum credit score requirement because they are made for people with little or no credit history. However, certain credit cards might have a 650 or higher minimum credit score requirement.
Is it Possible to Obtain a Student Credit Card With No Income?
Many student credit cards don’t demand a consistent source of income, but you might need to show enrollment documents or a valid student ID.
How Do Student’s Credit Cards Affect Credit Scores?
Using a student credit card responsibly can help you establish a good credit history and improve your credit score over time.
How Can I Cancel My Student Credit Card?
Contact the company that issued the credit card and follow their specific cancellation guidelines to cancel a student credit card.
Student credit cards: Are they worth it?
Although they are not suitable for everyone, student credit cards can be a useful tool for establishing credit and learning about personal responsibility. Before requesting a student credit card, take into account the specific needs and preferences.
If you’re a Best College Student Credit Cards with No Income and Credit History, this can be an ideal way to improve your credit score and establish good financial practices. With the right card, you can benefit from the rewards, protect yourself from fraud, and boost your credit score.
Just be sure to stick to a spending plan, keep tabs on your finances, avoid debt with high-interest rates, and understand how credit usage impacts your credit score. Follow these tips and get the perfect student credit card to set you up for financial success today and in the future.
Hope this Guide is very useful for our Students and Dear readers.