Are you a student looking for the Best College Student Credit Cards with No Income and Credit History? If yes, you are at the right place.
This article has all the information about the Best College Student Credit Cards with No Income and Credit History and how you can get them.
I was a first-year college student with no income and no credit history. I wanted to get a credit card to build my credit, but I didn’t know where to start. I did some research and found out that there are a few Best College Student Credit Cards with No Income and Credit History.
I hope this blog helps you get the Best College Student Credit Cards with No Income and Credit History.
Students here face many challenges due to little or no income, high expenses, and weak or no credit history. This makes it hard to get credit cards and other basic financial products.
Best College Student Credit Cards with No Income and Credit History
Contents
- 1 Best College Student Credit Cards with No Income and Credit History
- 1.1 What is Student Credit Card?
- 1.2 Advantags of Student Credit Cards?
- 1.3 Eligibility Criteria for Best College Student Credit Cards with No Income and Credit History
- 1.4 Ways to get Best College Student Credit Cards with No Income and Credit History with no income
- 1.5 Types of Best College Student Credit Cards with No Income and Credit History
- 1.6 List of 5 Best College Student Credit Cards with No Income and Credit History
- 1.7 How to Build Credit With a Best College Student Credit Cards with No Income and Credit History?
- 1.8 What to Look for in Best College Student Credit Cards with No Income and Credit History?
- 1.9 FAQs about Best College Student Credit Cards with No Income and Credit History
- 1.9.1 What are the best type of Best College Student Credit Cards with No Income and Credit History?
- 1.9.2 Can you get a student credit card if you’re not a student?
- 1.9.3 Can you get a student credit card without a credit score?
- 1.9.4 How can you get approved for a credit card with no credit?
- 1.9.5 How can an 18-year-old with no credit get a credit card?
There are student credit cards for university students who don’t have credit since credit card companies realize that everyone must start somewhere and do not want to miss out on an impressionable young market. These are cards specifically designed for students who need credit.
Having personal finance management skills is crucial when you are an adult today. Unfortunately, few schools teach basic budgeting and money management skills. Credit cards can be exciting, but you can avoid falling into a trap if you’re not responsible.
The key to a healthy credit score is to start early, take steps towards building a good credit score, and pick up a credit card early in life. Nevertheless, picking up a credit card can be challenging since most college students still need to establish a credit profile.
This guide will help you learn how to finance your education by listing the 5 Best College Student Credit Cards with No Income and Credit History.
What is Student Credit Card?
Student credit cards are designed and issued for students attending colleges or universities. Since students typically have weak or no credit and little or no income, student cards typically have fewer benefits and lower limits than consumer cards for people with better credit.
Student cards are often marketed as watered-down versions of consumer cards, though they carry rewards and some extra benefits. There may also be fewer additional benefits and less reward-earning potential with a student credit card.
One of the biggest advantages of student credit cards is the opportunity to save money while building a credit history after graduation. Students should choose credit cards with no annual fees that give at least 1% back on all purchases and report monthly to all 3 major credit bureaus.
Some student credit cards also require a credit check, but there are also No Credit Check Credit Cards Instant Approval No Deposit available. These cards may have higher interest rates and lower credit limits, but they can be a good option for students who are just starting to build their credit history.
Eligibility Criteria for Best College Student Credit Cards with No Income and Credit History
The biggest requirements for student credit cards are being 18 years or older and earning enough income to afford the monthly payment, generally around $10.
Ways to get Best College Student Credit Cards with No Income and Credit History with no income
The following are a few ways to get Best College Student Credit Cards with No Income and Credit History-
Against a Fixed deposit
A bank usually offers a secured credit card in exchange for a fixed deposit made in the student’s name. There are some credit card issuers who provide student credit cards only when collateral is provided. Because students need a source of income, the issuer faces a high risk.
These banks require a fixed deposit to issue a credit card. Your credit card’s limit will likely equal to or lower than your fixed deposit.
An add-on credit card
A credit card add-on is available with most regular credit cards. Students can request their parents or older siblings to open one for them. The article will continue to discuss add-on cards.
Against a savings bank account
Student credit cards can also be obtained against saving accounts, provided the accounts maintain a certain balance.
You need to know the individual banks’ policies regarding student credit cards to find the best credit card for you.
Types of Best College Student Credit Cards with No Income and Credit History
Here is a table of the different types of Best College Student Credit Cards with No Income and Credit History, their features, and pros and cons:
| Type of Card | Features | Pros | Cons |
| Secured Credit Card | Requires a security deposit that serves as your credit limit. | Easier to be approved, can help build credit score. |
Low initial credit limit, requires a security deposit, generally has higher interest rates.
|
| Unsecured Credit Card | Does not require a security deposit and typically offers higher spending limits. | No security deposit required, higher credit limits. |
More difficult to be approved, requires good credit score.
|
| Prepaid Credit Card | This card can be used just like a credit card without needing approval. The cardholder funds a prepaid credit card and typically has a lower spending limit. | There is no need for approval, can help develop budgeting skills. | Reward levels are lower or none at all, spending limits are lower, and credit history needs to be built. |
| Store Credit Card | Retailers and department stores usually issue the store credit card to make purchases inside the store. Students with no credit history can use a store credit card and who want to build a credit profile since they usually have lower spending limits and are easier to get approved for. | Easy approval process, may offer rewards or discounts on purchases. | The spending limit is low, the cards can only be used at specific stores, and interest rates are higher than other credit cards. Best Student Credit Cards With No Credit History Required |
List of 5 Best College Student Credit Cards with No Income and Credit History
Consider any student credit cards if you still need a good credit score. Make sure you compare all the cards’ features and benefits before applying.
Here are the list of 5 Best College Student Credit Cards with No Income and Credit History –
Discover It Student Cash Back Credit Card
There are many great benefits and rewards associated with the Discover It Student Cash Back credit card for students with no credit history, such as cashback, and there is no annual fee. The Discover app gives students access to their free FICO scores, cashback rewards, security alerts for their Social Security Numbers, and rewards.
You get a statement credit when you refer a friend for a card, and they are approved. With this student credit card, you’ll also receive a welcome bonus you won’t find with other student cards. There is a 0% APR on purchases for six months, after which there is a minimum APR of 17.99%. There’s also a six-month introductory APR of 10.99% on balance transfers. As soon as you graduate, you can update your profile.
Benefits of Discover It Student Cash Back Credit Card –
| Benefit | Details |
| Cashback |
Earn 5% cash back on rotating quarterly categories on up to $1,500 spent each quarter (requires activation), and 1% cash back on all other purchases.
|
| No annual fee |
There is no annual fee for this card.
|
| Free FICO scores |
You can access your free FICO scores through the Discover app.
|
| Cashback rewards |
You can redeem your cashback rewards for statement credits, gift cards, or travel.
|
| Security alerts |
You can sign up for security alerts to be notified of suspicious activity on your account.
|
| Referral bonus |
You can earn a $50 statement credit when you refer a friend for a card and they are approved.
|
| Welcome bonus |
You can earn a 10% cash back match on your first year’s worth of eligible purchases.
|
| 0% APR on purchases for 6 months |
You will not pay interest on purchases made with this card for the first 6 months.
|
| 0% APR on balance transfers for 6 months |
You can transfer a balance from another credit card to this card and not pay interest for the first 6 months.
|
| Ability to update your profile after graduation |
Once you graduate, you can update your profile to reflect your new credit history.
|
Chime Credit Builder Visa Credit Card
A secured credit card like the Chime Credit Builder Visa can help students build credit. It can be used to pay your outstanding balance after you pay a security deposit. It ensures that you never miss a payment.
There are some downsides to this card, including the lack of rewards. You will also need a Chime checking account to access this credit card. Among the benefits are no annual fees and no interest charges.
It will cost you $200 to put down a security deposit, and you can transfer money from your credit card to your bank account once approved.
Benefits of Chime Credit Builder Visa Credit Card –
| Benefit | Details |
| Helps build credit |
When you use a secured credit card and make your payments on time, it helps to build your credit history. This can make it easier to qualify for loans and other forms of credit in the future.
|
| No credit check required |
Some secured credit cards do not require a credit check, making them a good option for people with no credit history or bad credit.
|
| Low interest rates |
Secured credit cards typically have lower interest rates than unsecured credit cards, which can help you save money on interest charges.
|
| Low or no annual fee |
Many secured credit cards have no annual fee, which can save you money.
|
| Credit limit that grows over time |
As you use your secured credit card responsibly and make your payments on time, your credit limit may increase. This can give you more flexibility in your spending.
|
| Ability to graduate to an unsecured card |
Some secured credit card issuers allow you to graduate to an unsecured card after you have used your secured card responsibly for a certain period of time. This can give you more credit and better terms.
|
Discover It Secured Credit Card
The Discover It Secured credit card is an excellent choice for students because there is no credit history requirement. You can also earn rewards while building your credit by reporting payments to all three major credit bureaus.
With this credit card, you won’t be charged an annual fee or foreign transaction fees, and the APR will be 27.99% variable. The intro APR on balance transfers is 10.99% for the first six months, and there’s a welcome bonus of unlimited cash back.
Additionally, you earn 2% back on purchases of up to $1,000 at restaurants and gas stations. As a result, you receive 1% cash back. You must deposit $200 as a security deposit to open a Discover It® Secured credit card. When you open the card, your deposit will correspond to your maximum credit limit. After seven months, the account will be reviewed to determine if you qualify for an unsecured credit card, and the deposit will be refunded.
Benefits of Discover It Secured Credit Card –
| Feature | Details |
| Annual fee | None |
| Foreign transaction fees | None |
| APR | 27.99% variable |
| Intro APR on balance transfers |
10.99% for the first 6 months
|
| Welcome bonus |
Unlimited cash back
|
| Cash back rewards |
2% back on purchases of up to $1,000 at restaurants and gas stations, 1% cash back on all other purchases
|
| Security deposit | $200 |
| Credit limit |
Equal to your security deposit
|
| Ability to graduate to an unsecured card |
After 7 months, the account will be reviewed to determine if you qualify for an unsecured credit card, and the deposit will be refunded.
|
U.S. Bank Altitude Go Visa Secured Card
The U.S. Bank Altitude Go Visa Secured Card is perfect for students looking for a reward credit card. Every dollar spent on dining, restaurant deliveries, and takeout, as do all other eligible purchases, earns four points.
This card does not charge an annual fee and has a variable APR of 29.24%. Students will likely spend more in areas where it earns high rates, including a $15 credit for streaming purchases each year.
Benefits of U.S. Bank Altitude Go Visa Secured Card –
| Feature | Details |
| Annual fee | None |
| APR | 29.24% variable |
| Rewards |
4 points per dollar spent on dining, restaurant deliveries, and takeout, and 1 point per dollar spent on all other eligible purchases
|
|
$15 streaming credit each year
|
|
| Security deposit |
Varies by credit history
|
| Credit limit |
Equal to your security deposit
|
| Ability to graduate to an unsecured card |
Yes, after 12 months of on-time payments
|
Capital One Quicksilver Student Cash Rewards Credit Card
The Capital One Quicksilver Student Cash Rewards credit card has no annual fees, a decent cashback rewards program, and no credit history requirements. Students who want to build their credit history while earning rewards will find this card ideal.
The card offers a 0% intro APR on purchases for six months and a 10.99% intro APR on balance transfers for six months. After that, the APR will range from 17.99% to 26.99%.
Travel assistance is available 24 hours a day, and there are no foreign transaction fees, making the card an excellent choice for students traveling abroad.
Benefits of Capital One Quicksilver Student Cash Rewards Credit Card-
| Feature | Details |
| Annual fee | None |
| APR |
17.99% to 26.99% variable
|
| Intro APR on purchases | 0% for 6 months |
| Intro APR on balance transfers |
10.99% for 6 months
|
| Cash back rewards |
1.5% cash back on all purchases
|
| Travel assistance |
24/7 travel assistance
|
| Foreign transaction fees | None |
| No credit history requirement | Yes |
Here is a table of the Best College Student Credit Cards with No Income and Credit History along with their key features:
| Card | Annual Fee | APR | Rewards | Other Benefits |
| Discover It Student Cash Back Credit Card | $0 | 0% intro APR on purchases for 6 months, then 17.99%-24.99% variable | 5% cash back on up to $1,500 in quarterly rotating categories, 1% cash back on all other purchases |
Free FICO score, cashback rewards, security alerts, and more through the Discover app; statement credit for referring friends who are approved; 0% intro APR on balance transfers for 6 months
|
| Chime Credit Builder Visa Credit Card | $0 | 13.99%-25.99% variable | No rewards |
No annual fee, no interest charges; credit limit is based on your Chime checking account balance
|
| Discover It Secured Credit Card | $0 | 27.99% variable | 2% cash back on purchases of up to $1,000 at restaurants and gas stations, 1% cash back on all other purchases |
No annual fee, no foreign transaction fees; welcome bonus of unlimited cash back; intro APR of 10.99% on balance transfers for 6 months
|
| U.S. Bank Altitude Go Visa Secured Card | $39 | 29.24% variable | 4 points per dollar spent on dining, restaurant deliveries, and takeout; 1 point per dollar spent on all other eligible purchases |
No annual fee; $15 credit for streaming purchases each year
|
| Capital One Quicksilver Student Cash Rewards Credit Card | $0 | 17.99%-26.99% variable | 1.5% cash back on all purchases |
No annual fee, no foreign transaction fees; 0% intro APR on purchases for 6 months and balance transfers for 6 months; travel assistance 24/7
|
How to Build Credit With a Best College Student Credit Cards with No Income and Credit History?
Best College Student Credit Cards with No Income and Credit History can help you build a good credit score in the following ways:
Make sure you pay on time
Make sure you make your payments on time every month. Make sure you pay more than the minimum amount required and pay off your balance as soon as possible. It is important to remember that late payments may also result in a penalty fee.
Your payment history constitutes 35% of your FICO credit score, so making timely payments is crucial for building and maintaining a good credit profile.
Keep your credit utilization low
You may be considered a risky borrower if your credit utilization ratio is high. Maintaining a credit utilization ratio of 30% or lower is also a good idea so that lenders will offer you better interest rates. The increase in your credit limit can also lower your credit utilization, increasing your FICO score.
Use your card regularly but responsibly
Make sure you use your credit card regularly, but only if you can afford it. The best way to avoid unnecessary interest charges is to pay off the full balance every month using your credit card.
Set up AutoPay
Using AutoPay will ensure you pay your account on time every month. Most credit card companies offer discounts to cardholders who make on-time payments with AutoPay.
What to Look for in Best College Student Credit Cards with No Income and Credit History?
The first credit card you choose as a student should be compared carefully, and the terms and conditions should be carefully read.
The following factors should be considered when choosing a Best College Student Credit Cards with No Income and Credit History:
FAQs about Best College Student Credit Cards with No Income and Credit History
What are the best type of Best College Student Credit Cards with No Income and Credit History?
A secured credit card is the best for students needing a credit history. Due to the security deposit requirement, these credit cards reduce the lender’s risk, making them easier to obtain. You can build a good credit history and avoid overspending if your credit limit equals your security deposit.
Can you get a student credit card if you’re not a student?
Some issuers, like Discover, require proof of student status. You do not need to be a student to qualify for some good cards for students and credit-builders. The requirements for each card and issuer vary.
Can you get a student credit card without a credit score?
Yes. Students can apply for credit cards without a credit history and use them responsibly to build credit. It is important to note that you may have to pay a security deposit, usually at least $200, but some cards offer great cashback rewards. Some credit cards even offer a guaranteed approval with a $500 limit.
How can you get approved for a credit card with no credit?
You can get approved for a credit card if you have no credit history by following a few steps. You can apply for a student credit card if you’re 18 or older and enrolled in college. It is important to know that even without any credit history, proof of income will be required.
How can an 18-year-old with no credit get a credit card?
If a young person or student has no credit history, they can apply for a credit card at age 18. Students looking for their first credit cards should search for student cards designed for first-time borrowers. However, you must provide proof of income to qualify, which may even be your monthly allowance.
