A number of student credit cards give you the ability to earn cash back. The best of the lot come with no annual fees and competitive APRs. However, even the best student credit cards for cash back work well only if you pay off your balances in full every month.
While student credit cards tend to come with lower credit limits than regular cards, you get to choose from several alternatives that offer cash back. However, the cash back you stand to earn through a student credit card is also typically lower than that offered by regular cards. What helps is that the best cash back student credit cards charge no annual fees.
Most cash back student credit cards limit their cash back to 1%, although there are exceptions. For example, the Journey Student Credit Card from Capital One lets you earn additional 0.25% cash back over the standard 1% cash back when you make your payments on time. With the Capital One Quicksilver Rewards for Students Card, you earn 1.5% cash back on all purchases.
Some of the top cash back student credit cards also come with introductory bonus offers, statement credits and no foreign transaction fees.
MoneyGeek’s Take: Top 3 Student Credit Cards for Cash Back
Quick Summary
The best student cards that offer cash back vary based on individual requirements. MoneyGeek has narrowed down on the top three based on factors such as the cash back you stand to earn, the credit level needed to apply, annual fees, interest rates and added benefits. Scroll further down the page for more recommendations.
Capital One Journey Student Rewards
Best student credit card with up to 1.25% cash back
Limited-FairCredit Needed
$0Annual Fee
1.25% Cash Back*Rewards Rate
1xRewards Rate on Online Shopping
1xRewards Rate on Groceries
This card offers 1% cash back on all your purchases, which may make paying top dollar for those textbooks slightly easier on the wallet. Paying your bill on time boosts that cash back to a total of 1.25% for the month. Plus, you earn $5 per month for 12 months on select streaming subscriptions.
These features are great for college students because they incentivize building healthy financial habits and provide discounts on recurring bills like Netflix and Hulu subscriptions.
Finally, this card has zero foreign transaction fees, which is an excellent feature for international students or those who anticipate studying abroad.
Pros
Earn 1% cash back on all your purchases, with a jump to 1.25% cash back when you pay your bills on time.
There is no annual fee or foreign transaction fee.
After six months, Capital One will reexamine your credit profile to see if you are eligible for a higher credit line. This can give students more purchasing power and flexibility without opening another card.
Earn $5 per month in statement credits on select streaming subscriptions for the first 12 months when you pay on time.
Cons
High APR on purchases
Lack of robust benefits
Cardholders receive 1% cash back on all purchases.
Pay your bill on time and receive a 0.25% cash back bonus on top of that.
A $5 credit is applied monthly to select streaming subscriptions (for the first year).
$0 fraud liability policy provides peace of mind.
There are no foreign transaction fees, which is great for travelers.
You have unlimited access to CreditWise from Capital One so you can check in on your credit profile at any time.
There’s no cosigner required, although one may be helpful.
When making purchases online, you can generate virtual card numbers so that your actual card number is kept private.
Disclaimer: We work hard to stay updated with the latest information, but card offers are always changing, and in some cases, the offer listed on our site may no longer be available.
A solid card with rewards students are sure to appreciate
Limited-FairCredit Needed
$0Annual Fee
1% Cash BackRewards Rate
1xRewards Rate on Online Shopping
1xRewards Rate on Groceries
The unlimited 1% cash back on purchases is a solid and straightforward way for students to accumulate rewards while also building good credit habits. Unlike some cards, there are no limits or rewards categories to keep track of, which is ideal for on-the-go students who don't want to spend the time trying to maximize the use of a particular rewards program.
In addition, the one-time introductory offer is accessible and should be relatively easy for students to earn, given all of the upfront costs associated with starting a new semester.
Finally, Chase's partnerships with DoorDash and Lyft offer students the opportunity to earn extra benefits for a limited time. Through March 2022, cardholders will receive 5% cash back on all rides booked through Lyft. And they'll also get three months free of DashPass and a discounted membership rate after that — a valuable benefit that will make those late-night study sessions a little more pleasant by ensuring you won't be cramming on an empty stomach even if the campus dining hall is closed.
Pros
No annual fee
One-time $50 bonus for new cardholders after making a purchase within the first three months of account opening
Unlimited 1% cash back on purchases
Additional limited-time benefits through Chase’s partners: DoorDash and Lyft
Cons
3% foreign transaction fee
Cardholders receive unlimited 1% cash back on purchases.
Rewards don’t expire.
A bonus of $20 per year for the first five years is awarded to customers in good standing on card anniversary.
There’s no annual fee, but travelers should be aware that there is a 3% foreign transaction fee.
Students receive access to their credit score via the online or mobile banking portal.
Disclaimer: We work hard to stay updated with the latest information, but card offers are always changing, and in some cases, the offer listed on our site may no longer be available.
Best student cash back card for limited credit history
None-PoorCredit Needed
$0Annual Fee
1% Cash BackRewards Rate
1xRewards Rate on Online Shopping
1xRewards Rate on Groceries
This card has no annual fee, provides cell phone protection and offers a solid cash back rate: 1% back on all purchases. Students also receive one year free of Amazon Prime Student after spending $500 in the first three billing cycles — a spending requirement many students will likely find easy to meet if they open this account at the start of a new semester.
Finally, this card doesn’t charge any foreign transaction fees, making it ideal for anyone looking to study abroad.
Pros
Earn 1% cash back on all your purchases
There is no annual fee or foreign transaction fee
You will have complimentary Amazon Prime Student for a year
Complimentary cell phone protection when you use your card to pay your cell phone bill
Do not need a Social Security Number (SSN) to apply
Access to Mastercard Platinum benefits
Cons
High APR on purchases
Students earn 1% cash back on all purchases.
There’s no annual fee, nor are there foreign transaction fees.
Cardholders receive Amazon Prime Student for one year.
Cell phone protection (up to $600) is included when you pay your phone bill with your card.
Mastercard Platinum benefits, such as rental car insurance, are included.
Easy-to-use app helps you manage your account and pause access to your card if you misplace it — all on the go.
Disclaimer: Card offers are always changing, and in some cases, the offer listed on our site may no longer be available.
Most student credit cards steer clear of providing premium benefits. However, you may still find alternatives with no annual fees, no foreign transaction fees, fraud liability and introductory bonus offers. Check the corresponding table and determine if any of the student cards listed here might work well for you.
Best student cash back card for limited credit history
1% Cash Back
$0
None-Poor
MONEYGEEK PRO TIP
"Earning cash back can provide extra money for college expenses and fun spending. However, don't spend more than you can afford to pay off each month just to earn additional rewards." -- Lee Huffman, credit card expert at BaldThoughts.com.
About Our Rankings
Experts at MoneyGeek review their selection of the best student credit cards for cash back every month. They look at all the student credit cards present in our extensive database and check for any possible changes in the credit needed to apply, cash back offers, fees and interest rates.
Top Rating Criteria for Student Cards
Average Cash Back Rate
APR
Annual Fee
How to Compare Student Credit Cards & Intro Offers
Pay attention to the factors mentioned below and your individual requirements when carrying out your cash back student card comparison. This is because while a particular card might work well for someone you know, you might be better off using a different one.
1
Cash back rate
Since card issuers provide student credit cards to individuals with little to no credit history, cash back rates tend to be lower than similar cards for working adults. Most student cash back credit cards offer 1% cash back, whereas a few give you the ability to earn more. The Quicksilver Rewards for Students Card from Capital One offers 1.5% cash back on all purchases. The Discover it Student Cash Back Card lets you earn up to 5% cash back on category-based spending, and this changes to up to 3% with the Bank of America Cash Rewards Credit Card for Students.
2
Credit needed
You might have to limit your search based on your existing creditworthiness because student credit cards come with different credit requirements. For instance, you need at least limited/fair credit to apply for the Chase Freedom Student Card or the Capital One Journey Student Rewards Card. But you may apply for the Deserve EDU Mastercard for Students with poor or no credit history at all.
3
Introductory offers
Introductory offers are not as commonplace with student credit cards as they are with regular credit card cards, although a few cards do come with them. With the Journey Student Credit Card from Capital One, you stand to earn a $5 statement credit per month for the first 12 months on select streaming subscriptions by making your payments on time. The Bank of America Cash Rewards Credit Card for Students currently offers a $200 cash rewards bonus if you spend $1,000 on purchases in the first 90 days.
4
Interest rates
Student credit cards tend to come with higher annual percentage rates (APRs) than regular cash back cards because issuers view students with little to no credit history as high-risk borrowers. However, APRs vary from one student credit card to the next, thereby requiring your attention, all the more so if you plan to keep rolling balances over from one billing cycle to the next.
5
Foreign transaction fees
This factor plays a role if you plan to use your card outside of the U.S. With cards that charge foreign transaction fees, you might need to pay up to 3% on each international transaction. Some cash back student credit cards that do away with this fee include the Capital One Journey Student Rewards Card, the Capital One Quicksilver Rewards for Students Card and the Deserve EDU Mastercard for Students.
6
Added perks
Given that most student cards charge no annual fees, premium benefits are typically hard to find. However, you may still look for features such as $0 fraud liability, extended warranty, travel assistance services, travel accident insurance and cell phone protection, as well as the ability to add authorized users.
7
Annual fees
Annual fees can create a hurdle that you must overcome with your rewards before that cash back card is worth it. While our list of the top cash back student credit cards focused on those with no annual fee, some cards do have a fee. It may make sense to pick a card with a lower cash back rate and no annual fee if your spending doesn't justify the larger annual fee.
Expert Advice For Finding the Right Card
We’ve sought advice from financial experts surrounding different aspects of cash back student credit cards so you may choose a suitable alternative and then use it in the right manner.
Expert Advice for Finding the Right Card
Should students who don’t plan to pay off their balances in full every month consider getting cash back credit cards, or do they have better alternatives?
Are there any possible pitfalls in using student credit cards to earn cash back even when cardholders pay their balances in full each month?
Is it possible for students to get cash back credit cards with joint applicants?
Dr. Andrew Burnstine
Associate Professor of Marketing at Lynn University
David Corsun, Ph.D.
Associate Professor and Director of the Daniels College of Business’ Fritz Knoebel School of Hospitality Management
James A. Roberts
Ben H. Williams Professor of Marketing at Baylor University
Wendy Habegger
Lecturer at James M. Hull College of Business at Augusta University
Rajiv Baniwal has been writing about different financial topics for over 15 years. Meticulous in his research, he makes sure he provides accurate and up-to-date information. His areas of expertise include mortgages, personal loans, credit cards, insurance and international money transfers.
*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available. Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.
