Are there rewards cards for students?
Quick insights
- There are cards designed for people with little to no credit, such as students.
- Students may need to show proof of income or have a cosigner when applying.
- Student rewards cards are generally unsecured credit cards.
A starter or student credit card is made for people with little or no credit history. It helps new borrowers get a card, start building credit and manage their own spending. Some cards also offer rewards on purchases.
Finding the right card for you may involve reviewing your own spending habits and needs. For those new to credit, the choice may be more limited, as lenders look at credit history when reviewing applications among other factors.
Types of student credit cards
Credit cards generally come in two basic varieties: secured and unsecured. The key difference is whether you need to put down a deposit to get a credit card. Both types may charge you interest on purchases, and some secured cards also offer cash back or points.
Secured and unsecured credit cards
Because people can get secured and unsecured credit cards confused, let’s take a closer look. Please note that Chase does not offer secured credit cards.
Secured credit cards involve putting money down as collateral after completing an application. The amount paid usually determines the initial credit limit on the secured card. They may be an option for students who don’t have a parent or guardian to cosign on an unsecured card.
Unsecured student cards do not require any money down, but keep in mind that for new cardmembers, they may come with lower spending limits or higher interest rates. They may be an option for students who don’t have a parent or guardian to cosign on an unsecured card.
What to know when applying for a starter or student credit card
Starter or student credit cards may be a helpful option for people who have already developed budgeting skills and healthy spending habits. But there are a few important factors to consider before applying:
Age restrictions on receiving a credit card
The minimum age requirement to obtain a credit card is usually 18. Some credit card companies allow minors under the age of 18 to become authorized users of their parent or guardian’s credit card. For authorized users who happen to be under 18, special terms and conditions apply—check with the credit card issuer.
Proof of income requirements
The CARD Act of 2009 requires card issuers to assess independent income sources for applicants under the age of 21. People ages 18 to 21 applying for a credit card must show proof of independent income—unless they have a cosigner, usually a parent or guardian.
If a cosigner is required, the applicant will need proof of income from the cosigner. Please note that many credit card issuers do not allow cosigners.
Proof of college or university enrollment
Some student or starter credit cards require proof of college enrollment with an application, but others may not have an enrollment requirement. Even if your first credit card requires proof of student status, that does not necessarily mean that after you graduate, you will need to obtain a different credit card. But using your first credit card responsibly in college could lead to better credit card opportunities.
Type of rewards cards
Starter credit cards may come with different features and perks, including the ability to earn rewards. Some rewards are based on select categories of spending such as restaurants, while other cards can earn you cash back on all purchases. The following is a list of various types of reward credit cards:
Cash back credit cards
If you do your own shopping and driving, a cash back card that earns more rewards at grocery stores and gas stations may be a good fit. Other cards may allow you to earn accelerated rewards in other spending categories such as restaurants.
Travel credit cards
If you plan to spend several months studying or traveling abroad, a card that earns travel rewards on hotels, rental cars or airfare may be useful. On top of the potential to earn rewards or airline miles, some travel cards may offer opportunities for trip cancellation or lost luggage insurance to help when unfortunate events beyond your control happen away from home.
Airline and hotel partner cards
These are a subset of travel credit cards in that they offer accelerated rewards on hotel or airline loyalty programs. These co-brand cards may also provide more options when redeeming those rewards at their hotels or airline. Airline-linked credit cards in particular may come with the perk of a complimentary first checked bag.
Online retailer co-branded partner cards
Credit cards linked to partner online retailers are a type of card which students with a lengthier and more solid credit history may be eligible to be approved for. Cardmembers with retail partner cards can earn cash back bonuses and other rewards on purchases made through a particular online retailer.
Does Chase offer student credit cards with rewards?
While Chase does not offer a dedicated student credit card, Chase Freedom® Rise is designed for people new to credit, including students. The card earns 1.5% cash back on every purchase and offers benefits that may appeal to students, including six months of complimentary DashPass for DoorDash and Caviar when activated by December 31, 2027. After that, you are automatically enrolled in DashPass at the current monthly rate.
