Graduate school can be a great adventure and it’s a challenge that not many students undertake. But it’s a lot of hard work and can be, depending on the field you’re in, very expensive. Plus, many graduate programs don’t provide financial support to their students.
Since most students are typically on a tight budget, saving where they can is often a top priority. With the right graduate student credit card and smart planning, you can earn rewards on every purchase and even maximize your earnings for extra value.
We’ve rounded up the best graduate student credit card options, along with their fees, benefits, and eligibility requirements. Here are our top recommendations.
Best Graduate Student Credit Cards
1. Chase Freedom Flex℠
Why we chose it: Best for low interest rates
The Chase Freedom Flex℠ credit card has no annual fee, great cardholder perks, and one of the most flexible cashback rewards programs available. You’ll earn 5% cash back on up to $1,500 in purchases that rotate quarterly. You’ll also earn 5% on travel purchases through Chase Ultimate Rewards®, 3% on dining, and 1% on all other purchases.
Chase doesn’t release the quarterly categories in advance, but some of the past categories included PayPal, Walmart, movie theaters, gas stations, Amazon.com, and streaming services.
There is no annual fee and a 0% intro APR for 15 months on purchases and transfers. The card comes with rates between 20.24% and 28.99% APR.
Benefits and rewards:
- $200 bonus when you spend $500 in three months
- 5% cash back on Lyft rides
- 5% cash back on rotating quarterly categories up to a $1,500 maximum
- 0% intro APR for 15 months on purchases and transfers
Pros
- Travel rewards are among the best in the market
- No annual fee
- Flexible rewards redemption
- Welcome bonus
Cons
- Requires a good credit score
- Cardholders must enroll in rotating quarterly bonus categories
Eligibility requirements:
- Good credit score (690-850)
- Must be at least 18 years old
- Must be a U.S. citizen
2. Discover it® Secured Credit Card
Why we chose it: Best for rewards and uprading
The Discover It® Secured credit card requires no credit history to qualify and it’s a great card for anyone looking to improve their credit. You can earn rewards while you build credit and it reports payments to all three major credit bureaus.
The card comes with no foreign transaction fee and no annual fee, and starts at 27.99% variable APR. There’s a 10.99% intro APR on balance transfers for the first six months and a welcome bonus of an unlimited cashback match on all purchases during your first year.
The card requires a minimum security deposit of $200. This is a good option if you have a larger security deposit available and want a credit card for bad credit with guaranteed approval and a $1,000 credit limit. After seven months, your account will be reviewed to see if you qualify for moving to an unsecured credit card and a deposit return.
You also earn 2% cash back at restaurants and gas stations for purchases up to $1,000 per quarter. Thereafter, you earn 1% cash back.
Benefits and rewards:
Earn 2% cash back at restaurants and gas stations up to purchases of $1,000 per quarter. All other purchases earn 1%.
An intro bonus of an unlimited cashback match on all cash back you earn during the first year.
Pros
- No annual fee
- No foreign transaction fees
- No credit history needed to apply
- Possibility of upgrading to an unsecured card after seven months
- Unlimited cashback on all purchases during the first year
Cons
- Requires a security deposit
- High ongoing APR
Eligibility Requirements:
- Must be at least 18 years old
- Must be a U.S. citizen
- Must have a bank account
- Must pay a security deposit
3. Citi® Double Cash Card
Why we chose it: Best for flat-rate cash back
The Citi® Double Cash Card is ideal for cardholders looking for a flat-rate cash back. There is no 0% introductory period for purchases, but the card comes with a 0% intro APR on balance transfers for 18 months.
You earn 2% cash back on every purchase; 1% when you make the purchase and another 1% when the purchase is paid off. This is a good option for cardholders who make their minimum payments on time and there is no limit on the amount of cashback that can be earned.
The card has no annual fee, but there is a 3% foreign transaction fee and interest rates vary between 18.99% and 28.99% APR.
Benefits and rewards:
- Earn 2% cash back on all purchases – 1% when the purchase is made and 1% when the purchase is paid off
- No limits on the amount of cashback that can be earned
Pros
- 2% cash back on all purchases
- No annual fee
- Introductory APR period for balance transfers
- No limits on the amount of cashback earned
Cons
- There is a foreign transaction fee
- No 0% introductory APR on purchases
Eligibility requirements:
- Must have a good credit score (630-850)
- Must be at least 18 years old
- Must be a U.S. citizen
4. Bank of America® Customized Cash Rewards Secured Credit Card
Why we chose it: Great secured card with cash back rewards
The Bank of America® Customized Cash Rewards Secured credit card is good for borrowers who want to improve their credit. It also offers great cashback rewards, making it a great option for those looking to earn rewards. You can have a credit limit between $200 and $5,000, depending mainly on your security deposit.
You can get up to 2% cash back at grocery stores as well as 3% cash back in your choice of categories: dining, online shopping, gas, travel, drug stores, and home improvement. After your first $2,500 spending in any category, you will earn 1% back on purchases.
Other perks include checking your FICO credit score for free and the ability to move to an unsecured card with a refund of your security deposit.
Benefits and rewards:
- Up to 3% cash back on gas, online shopping, dining, travel, or home improvement.
- 2% cash back at grocery stores and wholesale clubs on the first $2,500 in purchases, then earn 1%.
Pros
- No annual fee
- Up to 3% cash back rewards
- Flexible credit limit
Cons
- Security deposit of $200 (minimum)
- No welcome bonus
Eligibility Requirements:
- Requires a security deposit
- Must be 18 years or older
- Must be a U.S. citizen
5. Petal 2 Visa Credit Card
Why we chose it: Best for no fees
The Petal® 2 Visa® Credit Card is a great option for starters and international students without an SSN. The card comes with up to 1.5% cash back on eligible purchases and reports your payments monthly to three major credit bureaus.
Card rates start at 17.99% variable APR and there is no annual fee. There are no foreign transaction fees although the card doesn’t allow for balance transfers.
Benefits and rewards:
Up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments.
1% cash back on eligible purchases right away
2% – 10% cash back at select merchants
Pros
- No membership fees
- No foreign transaction fees
- Doesn’t require a security deposit
- Earn up to 1.5% cash back on eligible purchases
Cons
- No balance transfers allowed
Eligibility Requirements:
- Must be 18 years or older
- Can apply with an ITIN
- Sufficient income to afford bill payments
6. Wells Fargo Active Cash Visa® Card
Why we chose it: Best for everyday spending rewards
Wells Fargo Active Cash Visa® Card is a great option for cardholders looking for cash back on everyday spending. It offers unlimited 2% cash back on all purchases and cash rewards don’t expire as long as your account remains open.
The card comes with a 0% APR on purchases for the first 15 months and 0% APR on qualifying balance transfers for the first 15 months. You also get a $200 cash rewards bonus when you spend at least $500 on purchases in the first three months.
The Wells Fargo Active Cash Visa® Card also comes with added benefits like up to $600 in mobile phone protection against theft or damage when you pay your monthly mobile bill with your card. There is no annual fee, but there is a 3% foreign transaction fee.
Benefits and rewards:
- Earn $200 cash back when spending $500 in the first three months
- Earn unlimited 2% cash back on purchases
Pros
- Unlimited 2% cash back on all purchases
- No annual fee
- 0% APR intro period for 15 months on purchases and transfers
Cons
- Requires a good credit score
- Charges a foreign transaction fee of 3%
Eligibility requirements:
- Good credit score (690-850)
- Must be at least 18 years old
- Must be a U.S. citizen
7. Capital One Quicksilver Student Cash Rewards Credit Card
Why we chose it: Best for cashback rewards
The Capital One Quicksilver Student Cash Rewards card is a good option for international students without a credit history. The card has no annual fee or foreign transaction fee, and comes with several rewards, including an unlimited 1.5% cash back on all purchases.
You’ll get $50 when you spend $100 in the first three months, and 10% money back on all purchases from Uber and Uber Eats. You may also refer family and friends who qualify for the card, and make up to $500 annually.
Benefits and rewards:
Cash back:
- Earn unlimited 1.5% cash back on all purchases.
- Earn 10% cash back on Uber and Uber Eats purchases.
Early spend bonus:
- Earn $50 when you spend $100 in the first three months.
Referral bonus:
- Earn up to $500 a year by referring family and friends.
Pros
- 1.5% cash back on every purchase
- No annual fee
- No foreign transaction fees
- Rewards don’t expire
Cons
- Potential high interest rate
- Late payment fee of up to $40
Eligibility Requirements:
- Be 18 years or older
- Can apply with an ITIN
- Have a steady income
- Be enrolled as a student
What Is a Graduate Student Credit Card?
A graduate student credit card is a type of credit card specifically designed for students who have recently graduated from a college or university. These cards are tailored to help new graduates transition from student life to professional life.
They generally offer features like lower interest rates, no annual fees, and rewards that are attractive to individuals entering the workforce.
The eligibility criteria for these cards often require proof of graduation or employment. The issuing banks aim to help new graduates build or improve their credit history as they move into the next phase of their financial lives.
Can I get a credit card after graduating?
After completing your studies, it may be possible for you to apply for a credit card. Just like student credit cards, you may be eligible for one.
However, the interest rate or APR offered to you and the terms of the credit card will depend on your individual circumstances, like your credit score and income.
In case you have a low credit score due to insufficient credit history, obtaining a credit builder credit card could be beneficial in improving your credit score.
FAQs
What is the best credit card for graduates?
The best credit card for graduates depends on your personal circumstances and what you’re looking to use it for. Good options are the Chase Freedom Flex℠ and the Discover it® Secured Credit Card, especially if you want to build your credit.
Are graduates often accepted for credit cards?
Getting accepted for a credit card is determined by a variety of factors such as your income, expenses, and credit score. Each card provider has its own policies and criteria for lending to customers. As a recent graduate, if you have never owned a credit card before and have a low income, it could be difficult to qualify for the best credit card offers available.
Is it hard to get a credit card as a student?
Student credit cards may have more flexible credit requirements for approval, but they often come with lower credit limits and average to high APRs. However, students can apply for these credit cards on their own and typically earn approval with proof of college enrollment and some income.