When I first ventured on an international trip, I was a fresh college graduate, 23, and Costa Rica was my destination. You’d be wrong to think you can’t travel while you’re still a college student. There are numerous ways you can integrate travel into your college life, such as study-abroad programs, gap years, or spring break getaways.
The main concern for many students is usually the finances. But, despite limited funds, it’s still possible to travel abroad with proper planning and strategic use of resources. One of these strategies is the use of rewards credit cards.
A Student’s Lifeline: Rewards Credit Cards
Getting a rewards credit card as a student can be challenging because they typically require a credit history and a consistent income, two things most students lack. However, banks understand this predicament and have designed cards specifically for students. These cards are easier to get approved for as the banks don’t expect students to have a credit history, providing an excellent opportunity to start building credit while earning rewards to fund your travels.
Let’s explore some of the best credit cards tailored for students:
Capital One SavorOne Student Cash Rewards Credit Card
When it comes to student credit cards, Capital One has some of the best offerings. The SavorOne Student Cash Rewards Card stands out with numerous bonus categories, allowing you to earn more from your purchases. You can enjoy 3% cash back on dining and groceries, and an impressive 10% cash back on Uber and Uber Eats.
The card comes with no foreign transaction fees or annual fee and even offers travel accident insurance. The benefits of the card include:
- A $50 USD cash bonus once you spend $100 USD within three months
- 3% cash back on dining, entertainment, popular streaming services, and grocery stores
- 5% cash back on hotels and rental cars booked through Capital One Travel
- 8% cash back on Capital One Entertainment purchases
- 10% cash back on Uber and Uber Eats
- The card covers the Uber One monthly membership fee until November 14, 2024
- Travel accident insurance
Bank of America Travel Rewards Student Credit Card
If you’re after simplicity and straightforward use, Bank of America’s Travel Rewards Student Credit Card is your best bet. This card offers unlimited 1.5 points per dollar spent and the most significant signup bonus among student cards. By spending $1,000 USD in the first 90 days, you can earn 25,000 bonus points, which can be converted into $250 worth of travel/dining credit.
The benefits of this card include:
- 25,000 Online Bonus Points after spending $1,000 USD within the first 90 days
- Unlimited 1.5 points per $1 USD spent on all purchases
- No foreign transaction fees
- No annual fee
Chime Credit Builder Visa® Credit Card
Chime’s Credit Builder, issued by Stride Bank, functions like a prepaid debit card. It’s not specifically marketed to students, but it’s an excellent choice for credit-building, especially for students. The card requires you to open a Chime checking account, and there’s no set credit limit, with the limit set by the money you deposit into your Chime checking account.
The benefits of this card include:
- No annual fee
- No foreign transaction fees
- No interest charges
- No minimum security deposit required
- The ability to set your own credit limit
- An easy-to-use app to manage your account and card
Getting Your First Credit Card as a Student
Getting your first credit card can seem daunting, but it doesn’t have to be. It starts with understanding how credit cards work and building healthy financial habits like paying off your balance each month.
Building your credit early has several benefits. Not only can you reap the rewards of these cards for travel, but you’re also establishing a credit history that will benefit you later in life. You might need to buy a house, lease a car, or apply for a business loan, all of which will require a credit check.
Frequently Asked Questions About Credit Cards for Students
How do I get a credit card as a student?
You can start by applying for cards designed for students. You can also check with your local bank or credit union for their offerings.
Can I get a credit card if I’m a full-time student?
Yes, many credit cards are designed for full-time students.
At what age can students get a credit card?
Students can apply for credit cards at 18, although approval may be more challenging due to income and credit history requirements.
Can I get a credit card as a student with no income?
If you’re under 21, you’re required to show proof of independent income. However, some card issuers may count student loans, grants, or scholarships as income.
What happens to my student card when I graduate?
Most student cards have a non-student version that your account can be converted to upon graduation.
Traveling as a Student is Possible
You don’t need to wait to graduate college to start building your credit history and earning rewards. Travel credit cards can help you earn cheap or even free travel while also teaching you how credit cards work and establishing healthy financial habits that will benefit you throughout your life.
Tips and Tricks for Your Trip
Book Your Flight
Use Skyscanner to find a cheap flight. It’s my favorite search engine as it searches websites and airlines all over the world.
Book Your Accommodation
You can book your hostel with Hostelworld. If you prefer other types of accommodation, use Booking.com.
Don’t Forget Travel Insurance
Travel insurance offers protection against illness, injury, theft, and cancellations. Companies that offer the best service and value are:
– SafetyWing (best for everyone)
– Insure My Trip (for those 70 and over)
– Medjet (for additional evacuation coverage)
Travel for Free with Travel Credit Cards
Earn points with travel credit cards that can be redeemed for free flights and accommodation, without any extra spending. Check out my guide to picking the right card and the latest deals.