The Best Reward Cards for Students Kiplinger Kiplinger is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Here's why you can trust us.

The Best Reward Cards for Students

Students can get perks while they build credit with these offers from popular issuers. (opens in new tab) (opens in new tab) (opens in new tab) Newsletter sign up Newsletter (Image credit: Future) By Lisa Gerstner published 17 October 2022 College students who are on the hunt for a rewards credit card will find that many issuers have designed cards aimed toward their age group. Student rewards credit cards often provide high rebates in common spending categories for college students, such as dining out or gas. Or student cards may pay a healthy flat rate of cash back on every purchase. Using a credit card wisely can be a great way for a college student to build a credit history. But opening and managing a credit card is new territory for most college students, so it's especially important to make sure that you understand how to avoid paying interest and boost your credit score. To protect your credit and steer clear of late fees, make sure to pay your bill on time each month. And to sidestep hefty interest charges, pay your bill in full rather than making only the minimum payment. To help you select a student card, we've listed some great options here. For each one, we've calculated a typical annual rebate that assumes $3,000 charged to the card annually.

Subscribe to Kiplinger s Personal Finance

Be a smarter, better informed investor. Save up to 74%

Sign up for Kiplinger s Free E-Newsletters

Profit and prosper with the best of Kiplinger's expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of Kiplinger's expert advice - straight to your e-mail. Sign up If you're instead looking for a card that provides strong cash-back rewards for users of all ages, see The Best Cash-Back Credit Cards. And if you'd like to open a card that offers points or miles for travelers, see The Best Travel Rewards Credit Cards.

Capital One SavorOne Rewards for Students Mastercard

Website: www.capitalone.comInterest rate: 17.99% to 27.99%Annual fee: NoneTop rewards rate: 3% back on restaurant, entertainment, streaming and grocery purchasesSign-up bonus: $100 back if you spend $100 in the first three monthsTypical annual rebate: $70 Capital One offers a student version of its dining rewards credit card, and the maximum-rebate categories may fit well into a typical college student's budget. Cardholders get 3% cash back on dining, entertainment (including ticket purchases at movie theaters, amusement parks, professional sporting events, bowling alleys and more), certain streaming services and at grocery stores. They also get 8% cash back on purchases through the Capital One Entertainment ticketing platform as well as on Vivid Seats ticket purchases and 5% back on hotel and rental-car bookings through Capital One Travel. All other spending earns 1% back. Redeem cash back in any amount as a check or statement credit. The $100 spending requirement to earn an initial bonus is relatively low, making it manageable for many college students. If you plan to study abroad, take this card with you-it charges no foreign transaction fee.

  Discover It Student Chrome 

Website: www.discover.comInterest rate: 0% for six months, then 15.99% to 24.99%Annual fee: NoneTop rewards rate: 2% back at gas stations and restaurantsSign-up bonus: A match of cash back earned after one year, doubling your rewardsTypical annual rebate: $44 This card from Discover provides clear-cut rewards in categories that make sense for students: 2% cash back at gas stations and restaurants (on up to $1,000 in combined quarterly spending) and 1% on other purchases. Cash back is redeemable in any amount as an account credit, bank-account deposit or charitable gift. You can also apply cash back to make purchases with select merchants, such as Amazon, or to buy gift cards. The structure of the initial bonus is a nice touch for students, who get a match of cash back they've earned after a year-most other cards require you to spend a certain amount within the first few months to capture a bonus, which may be a steep hill to climb (and also encourage less-prudent spending). The card is also forgiving to young folks who are getting the hang of managing a credit card: It never charges a penalty interest rate after a late payment, and it waives the late fee for the first missed payment. You get one strike – not three, but it's better than zero.

Bank of America Unlimited Cash Rewards for Students Visa 

Website: www.bankofamerica.comInterest rate: 0% for 18 months, then 16.99% to 26.99%Annual fee: NoneTop rewards rate: 1.5% back on all spendingSign-up bonus: $200 back if you spend $1,000 in the first 90 daysTypical annual rebate: $45 This card is well-suited to students who want a simple flat rate of cash back on all spending. It provides 1.5% back on purchases, redeemable in any amount as a statement credit, a one-time deposit into a Bank of America checking or savings account, or a one-time credit to a qualifying Merrill cash management account (automatic redemptions into such accounts come with a $25 minimum). Lisa GerstnerContributing Editor, Kiplinger's Personal FinanceLisa has spent more than15 years with Kiplinger's Personal Finance and heads up the magazine's annual rankings of the best banks, best rewards credit cards, and financial-services firms with the best customer service. She reports on a variety of other topics, too, from retirement to health care to money concerns for millennials. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school's "Graduate of the Last Decade" award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons. Latest 4 Ways You Can Take Advantage of a Down Market With markets down for the year, it may seem that all the news is bad. But now could be a good time to make some profitable moves. By Adam Grealish • Published 11 November 22 New, Used or Leased: Is Now the Time to Buy an Electric Vehicle? The Inflation Reduction Act created new tax breaks for electric vehicles. Here's a guide to which EVs count and the best time to buy. By Rivan V. Stinson • Published 11 November 22 kiplinger About Us (opens in new tab) Terms and Conditions (opens in new tab) Privacy Policy (opens in new tab) Cookie Policy (opens in new tab) Kiplinger is part of Future plc, an international media group and leading digital publisher. Visit our corporate site.
© Future US, Inc. Full 7th Floor, 130 West 42nd Street, New York, NY 10036.