How to choose a student credit card

Applying for your first credit card can be daunting. There are so many different types of cards to choose from with different benefits and features. It’s important to take your time and find one that can help get you on the path to building credit. Your first credit card can be a student card, so let’s analyze that option below.

How to qualify for a student credit card

Many student credit cards can be obtained without any credit history. Being a university or community college-enrolled student will be an important part of your application that gets considered by the card issuer in these cases. Opening or having an open checking account with the card issuer may sometimes improve your chances of being approved.

Some students may have started building their credit in high school by being added as authorized users on their parent’s or guardian’s credit cards. Other students begin their credit history by taking out a student loan to pay for tuition and housing. However, many student credit cards can be obtained without any credit history. A student credit card can help you take the first steps to building credit and financial well-being.

How to use a student credit card

Student credit cards often are initially issued with low credit limits and may charge fees. Be sure to verify the limit and carefully track your spending online. Using your card within its limit and paying your balance off every month may help you improve your credit score, which could mean you qualify for other card offers over time.

Benefits to look for in a student credit card

When it comes to the benefits of a student credit card, many may look for cash back first. Travel rewards are another benefit that may come with some student credit cards, though foreign transaction fees may apply when spending outside the U.S. Other students may choose bonus points for certain categories of spending. When comparing the cards offered in the market, carefully evaluate the annual fee and annual percentage rate (APR).

Chase credit cards for students

Chase does not offer student credit cards. However, Chase Freedom Rise^® is a card for people new to credit cards, including students, that offers 1.5% cash back on all purchases.

New Freedom Rise cardmembers who activate automatic online bill pay within three months of receiving their card receive a one-time $25 statement credit.

Alternatives to student credit cards

There are several alternatives to student credit cards. Three common ones include: