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Getting a graduate degree typically pays off. Data from the Bureau of Labor Statistics shows that full-time workers aged 25 and older with advanced degrees earn up to 2.5X the income of high school graduates. But if you're still in school, you're probably not rolling in dough just yet. Instead, you might be struggling to make ends meet on a limited income.
But that doesn't mean you shouldn't enjoy the perks of a good credit card. In fact, the sooner you start building credit, the better. And you can do this pretty easily by applying for a card that aligns with your spending habits, and then paying it off in full every month. It can be tempting to use credit cards to fill gaps, and if it's an emergency, using one isn't the worst thing in the world. But for your financial well-being, building credit and building an emergency fund are both essential.
The best credit cards for graduate students don't have annual fees and can help you achieve your financial goals, including building credit and earning rewards on everything from pizzas to plane tickets to textbooks.
How we rate products
We looked at every credit card we have reviewed here on FinanceBuzz, then evaluated the best credit cards for graduate students by looking at factors that affect a typical graduate student, including:
- Having a relatively low income
- Having limited or no credit history
- Having cash back or rewards for areas beneficial to grad students
Not all graduate students have the same needs, economic status, or credit score, so we went further and determined the best credit card for specific categories to help guide the customer to which card may be best for their unique situation.
Best credit card for graduate students
| Credit Card | Best for … | Recommended credit score |
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First credit card | Fair |
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High flat-rate cash back rewards | Excellent, Good |
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Cash back on groceries and dining | Fair |
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Travel rewards | Excellent, Good |
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Poor credit | Fair, Poor |
Discover it® Student Cash Back
- Annual fee: $0
- Welcome offer: Discover will match all the cash back you’ve earned at the end of your first year.
- Intro APR: 0% on purchases for 6 months, then (16.49% - 25.49% Variable)
- Rewards: Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Recommended credit score: Fair
There's no minimum credit score requirement to apply for the Discover it® Student Cash Back card, which makes it a great first credit card for grad students. You can maximize your rewards by activating the bonus categories each quarter. For example, earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases..
Also, Discover will match all the cash back you’ve earned at the end of your first year. (but you should never spend more than necessary just to earn more rewards). You can even use the Discover app to track your credit score, and you should see improvement if you make your payments on time and in full each month. When you graduate, Discover may offer you a credit line increase based on your updated income and housing info.
- Students can apply with no credit history
- Cashback matching at the end of the first year
- Free credit score and dark web monitoring
- Must activate quarterly bonus categories to receive cash back
- Bonus reward rate capped at $1,500 in purchases
- Fewer travel perks than other no-fee cards
Apply now | Learn more in our Discover it® Student Cash Back review
Wells Fargo Active Cash® Card
- Annual fee: $0
- Welcome offer: $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Intro APR: 0% on purchases for 12 months from account opening, then (18.49%, 24.49%, or 28.49% Variable)
- Rewards: Earn unlimited 2% cash rewards on purchases
- Recommended credit score: Excellent, Good
The Wells Fargo Active Cash® Card earns 2% in cash rewards on purchases — the highest flat rate for rewards of any credit card with $0 annual fee. You don't need to manually activate the rewards, and you can earn 2% back on expenses that typically fall outside of bonus categories, like doctor's office visits or car insurance premiums. The card also offers flexible rewards redemption options, including the option to cover recent purchases.
The welcome bonus is rather easy to earn, and the 0% intro APR on purchases offers some breathing room. For example, if you're stretched thin right now but expect to make bank at a summer job, you can avoid interest on your balance in the meantime. Just be sure to pay off the entire balance before the intro period is up.
You can also access Wells Fargo Deals to save at retailers and restaurants, track your FICO score for free, obtain limited cell phone protection against damage or theft (subject to a $25 deductible), and enjoy premium travel benefits, including:
- Auto rental collision damage waiver
- Visa Signature Concierge service
- Roadside dispatch
- Generous welcome bonus and intro APR
- Earn unlimited 2% cash rewards on purchases
- Travel benefits
- 3% foreign transaction fee
- Good or excellent credit recommended
- No bonus rewards categories
Apply now | Learn more in our Wells Fargo Active Cash® Card review
Capital One Savor Student Cash Rewards Credit Card
- Annual fee: $0
- Welcome offer: Earn $50 when you spend $100 in the first three months
- Intro APR: N/A
- Rewards: 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal; unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel; 3% on dining, entertainment, streaming services, and grocery stores (excluding superstores such as Walmart® and Target®); and 1% on all other purchases
- Recommended credit score: Fair
The Capital One Savor Student Cash Rewards Credit Card is designed specifically for students attending a higher education institution, so you can qualify if you don't yet have sufficient credit history to generate a score. The card offers unlimited dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®) cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®) with no activation required. Netflix and chill with takeout, anyone?
But there's more — you'll get 8% back on entertainment purchases when booked through the Capital One Entertainment portal and 5% back on hotels, vacation rentals and rental cars booked through Capital One Travel. Capital One doesn't charge foreign transaction fees, so you can use the card while traveling abroad, and you'll get travel accident insurance at no charge. This card also qualifies for Capital One Offers, which gets you cash back for online shopping with a variety of retailers.
- High rewards rate for groceries, dining, and entertainment
- Open to students with no credit history
- Access to Capital One Travel benefits
- dining, entertainment, popular streaming services, and at grocery stores (excluding superstores such as Walmart® and Target®) rewards on groceries don't apply to Target or Walmart
- No intro APR
Learn more in our Capital One Savor Student Cash Rewards Credit Card review
Capital One VentureOne Rewards Credit Card
- Annual fee: $0
- Welcome offer: Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
- Intro APR: 0% on purchases for 15 months, then (18.49% - 28.49% (Variable))
- Rewards: 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel
- Recommended credit score: Excellent, Good
With no annual fee, access to Capital One Travel benefits, and no foreign transaction fees, the Capital One VentureOne Rewards Credit Card is a great starter travel rewards card. Unlike the Capital One Savor Student Cash Rewards Credit Card, the VentureOne card earns miles rather than cash back. That's an important distinction, because you can transfer miles to Capital One's travel partners, and you might get more bang for your buck redeeming your rewards with an airline or hotel loyalty program.
The VentureOne card earns 1.25 miles per dollar on every purchase, every day and 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel. If you have a Savor card as well, you can transfer your Savor cash back into miles with your VentureOne card, allowing you to rack up miles faster due to the Savor's boosted rewards rate for dining and groceries. The Capital One VentureOne Rewards Credit Card also comes with a generous 0% intro APR for 15 months on balance transfers (then 18.49% - 28.49% (Variable)) and a 0% intro APR for 15 months on purchases (then 18.49% - 28.49% (Variable)).
When you graduate and start earning more income, you may want to upgrade to a new credit card like the Capital One Venture X Rewards Credit Card — the card pays for itself if you spend at least $300 on travel annually.
- Option to transfer miles to loyalty programs
- Offers an intro APR
- Generous welcome offer
- Airline purchases earn a flat 1.25 miles per dollar
- Welcome offers are not available with VentureOne for applicants with less than Excellent Credit
- Fewer travel partners than some other issuers
Learn more in our Capital One VentureOne Rewards Credit Card review
Chase Freedom Rise®
- Annual fee: $0
- Welcome offer: $25 statement credit after signing up for automatic payments within the first three months of account opening
- Intro APR: N/A
- Rewards: 1.5% cash back on all purchases
- Recommended credit score: Fair, Poor
You might qualify for the Chase Freedom Rise® even if you have poor credit or you've never had a credit card before. Having a balance of at least $250 across your Chase deposit accounts increases your approval odds. Chase will automatically evaluate you for a credit limit increase as soon as six months from account opening. If you keep up with your payments on all your debts for your first year as a cardholder, Chase will evaluate you for an upgrade to the Chase Freedom Unlimited®, a $0 annual-fee card with some elevated travel and dining benefits. Here's to going places.
The Chase Freedom Rise® also earns 1.5% cash back on all purchases. Since the card is part of the Chase Ultimate Rewards program, you can use them to book a trip on the Chase travel portal or transfer them to Chase's travel partners. You can also opt to get a statement credit, cash back, gift cards, and more.
- Open to applicants with poor credit
- 1.5% cash back on all purchases
- Redeem points for travel or transfer to loyalty programs
- No bonus categories or lucrative welcome offer
- No intro APR
- 3% foreign transaction fee
Apply now | Learn more in our Chase Freedom Rise® review
FAQs
Can you get a student credit card in grad school?
Yes. While eligibility requirements vary from one credit card issuer to the next, most require you to show you're enrolled or planning to enroll in a higher education institution. You may also need to meet additional qualification requirements.
How many credit cards should a recent college graduate have?
It depends on your financial goals and how much you spend. You should have at least one credit card to build a positive credit history. Once you have a track record of on-time payments with your first credit card, you could consider applying for another card that offers unique benefits such as travel rewards. Just be sure not to apply for too many credit cards in the same year since each application requires a hard inquiry, which causes a dip in your credit score.
What is a good credit score for a new graduate?
The average FICO score for 18 to 24-year-olds was 681 in 2024, according to data from Experian. That falls into the "good" credit score range. But it's possible to achieve a higher score as a new graduate if you start building credit early, make your payments on time, and keep your debt balances to a minimum.
Bottom line
As a graduate student, you probably have a low income and a limited credit history, but you may still qualify for a credit card that offers rewards and other perks. Student credit cards are designed for people who are enrolled in higher education and just starting their financial journey.
If you wait until you graduate to apply for your first credit card, you may have fewer options. On the other hand, if you started building credit during your undergrad years, you may already qualify for a regular rewards credit card with a higher credit limit. Check out our guide to the best credit cards for the full range of options.
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Current Offer
Discover will match all the cash back you’ve earned at the end of your first year.
Annual Fee
$0
Rewards Rate
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.