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In time for the back-to-school season, Capital One is now accepting applications for two student-friendly credit cards:
The cards are new versions of the existing and , respectively. The student cards will share the same design and offer some similar features as their counterparts, but will not offer any sign-up bonuses or intro APR periods.
Here’s what students can expect from them.
The card offers:
The card offers:
Cash back earned doesn’t expire. You also don’t need to have a minimum amount to redeem it, which is helpful on a student budget. It means you can redeem, say, $5 in rewards for that slice of pizza or much-needed latte during finals week. Rewards redeem for statement credit, payments via PayPal, Amazon purchases and gift cards.
Cardholders can also get exclusive Capital One access to curated experiences in sports, dining and entertainment.
Applicants will typically need (a FICO score between 630 and 689) to qualify for either card, but exceptions may exist. Each applicant will be assessed on an individual basis, according to a Capital One spokesperson. You'll also have to be at least 18 years of age and be able to qualify with sufficient income (as is with any U.S. credit card).
Any student credit card that offers a rewards rate higher than 1% and has a $0 annual fee is generous. Plus, they report to all three major credit bureaus — TransUnion, Equifax and Experian — which is ideal for establishing credit.
The two cards will join the issuer’s existing -annual-fee . This card offers 1% cash back on all purchases, plus a 0.25% bonus every month you pay on time. Unlike the new student cards, this one gives new cardholders a $60 credit on streaming services (distributed as $5 per month). It also offers a chance to be automatically considered for a credit limit increase in as little as six months with on-time payments.
Among the trio of options for students, all are solid choices. Capital One student cards are all well-equipped for study and travel abroad, and they don’t charge foreign transaction fees. So the best deal will ultimately be the one that best aligns with your financial goals and spending.