5 Low-Interest Student Credit Cards for 2023

Introduction

As a student, you may be looking for a credit card to help you build your credit history and earn rewards. However, with so many credit cards on the market, it can be difficult to know which one is right for you.

In this blog post, we will compare five low apr student credit cards to help you find the best one for your needs. We will consider factors such as the annual fee, interest rate, rewards program, and other terms and conditions in this comparison.

Best low interest credit cards for students:

Capital One Quicksilver Student Cash Rewards

Bank of America® Cash Rewards credit card for Students

Citi® Double Cash Card

  • Annual fee: $0
  • Intro APR: 0% for 18 months on purchases and balance transfers, then 15.49% to 25.49% variable
  • Rewards: 2% cash back on all purchases, with 1% cash back earned when you make a purchase and another 1% cash back earned when you pay your bill.
  • Welcome bonus: $200 after you spend $750 in the first 3 months

The Citi® Double Cash Card is a great option for students who are looking for a credit card with no annual fee and a simple rewards program. The card offers 2% cash back on all purchases, which is a solid baseline rewards rate. You earn cash back on every purchase, and you earn it twice: once when you make the purchase and again when you pay your bill.

The Citi® Double Cash Card also has a great welcome bonus. You can earn $200 after you spend $750 in the first 3 months. This is a relatively easy bonus to earn, and it’s a great way to get started with the card.

Overall, the Citi® Double Cash Card is a great option for students who are looking for a credit card with no annual fee and a simple rewards program. The card is easy to use and offers a great welcome bonus.

Here are some pros and cons of the Citi® Double Cash Card:

Pros:

  • No annual fee
  • 2% cash back on all purchases
  • Great welcome bonus
  • Easy to use
  • Good customer service

Cons:

  • APR can be high
  • Foreign transaction fees apply
  • Not as many rewards as some other cards

Wells Fargo Active Cash® Card

Wells Fargo Active Cash® Card

Comparison In Table :

Here is a table comparing the five cards: lOW interest for Students.

Card Annual Fee Intro APR Rewards Other Terms
Discover it® Student Cash Back $0 0% for 14 months on purchases and balance transfers, then 14.24% to 24.24% variable 5% cash back on rotating categories, 1% cash back on all other purchases $20 welcome bonus after you spend $100 in the first 3 months
Capital One Quicksilver Student Cash Rewards $0 0% for 15 months on purchases and balance transfers, then 16.49% to 26.49% variable 1.5% cash back on all purchases $50 welcome bonus after you spend $100 in the first 3 months
Bank of America® Cash Rewards credit card for Students $0 0% for 18 months on purchases and balance transfers, then 15.49% to 25.49% variable 3% cash back on gas and dining, 2% cash back at grocery stores and on select streaming services, 1% cash back on all other purchases $200 welcome bonus after you spend $500 in the first 3 months
Citi® Double Cash Card $0 0% for 18 months on purchases and balance transfers, then 15.49% to 25.49% variable 2% cash back on all purchases, with 1% cash back earned when you make a purchase and another 1% cash back earned when you pay your bill $200 welcome bonus after you spend $750 in the first 3 months
Wells Fargo Active Cash® Card $0 0% for 15 months on purchases and balance transfers, then 16.49% to 26.49% variable 2% cash rewards on purchases, with 1% cash back earned when you make a purchase and another 1% cash back earned when you pay your bill $200 welcome bonus after you spend $1,000 in the first 3 months

What is the lowest Interest on student credit cards in 2023?

As of March 8, 2023, the lowest interest rate for a student credit card is 0% APR for 15 months on purchases and balance transfers, followed by a variable APR of 16.49% to 26.49%. This is offered by the Capital One Quicksilver Student Cash Rewards credit card.

Here are some other low-interest student credit cards with 0% APR for purchases and balance transfers for a limited time:

  • Discover it® Student Cash Back : 0% APR for 14 months on purchases and balance transfers, followed by a variable APR of 14.24% to 24.24%.
  • Bank of America® Cash Rewards credit card for Students : 0% APR for 18 months on purchases and balance transfers, followed by a variable APR of 15.49% to 25.49%.
  • Wells Fargo Active Cash® Card : 0% APR for 15 months on purchases and balance transfers, followed by a variable APR of 16.49% to 26.49%.

It is important to note that these interest rates are subject to change. Be sure to check the terms and conditions of the card before you apply.

When choosing a student credit card, it is important to consider other factors besides the interest rate, such as the annual fee, rewards program, and credit requirements. It is also important to use the card responsibly and pay your bill on time each month to avoid incurring interest charges.

Additional Tips for Choosing a Student Credit Card

  • Consider your spending habits. What types of purchases do you typically make? Do you want a card that rewards you for gas, groceries, dining, or other categories?
  • Look at the annual fee. Some student credit cards have no annual fee, while others charge a small fee. Consider whether the rewards you earn will outweigh the cost.

How To Apply for Low-Interest Student Credit Cards in 2023?

Here are the steps on how to apply for a low-interest student credit card in 2023:

Do your research.

Before you apply for any credit card, it’s important to do your research and compare different cards to find the best one for you. Consider factors such as the interest rate, annual fee, rewards program, and credit requirements.

Check your credit score.

Your credit score will affect your chances of getting approved for a credit card and the interest rate you’ll be offered. You can get your credit score for free from a variety of sources, such as Credit Karma or AnnualCreditReport.com.

Apply online.

Most credit card companies allow you to apply for a card online. This is the easiest and most convenient way to apply.

Provide your information.

When you apply for a credit card, you’ll need to provide some basic information, such as your name, address, Social Security number, and income. You may also need to provide information about your employment and education.

Wait for a decision.

Once you’ve submitted your application, the credit card company will review your information and make a decision. You’ll usually hear back within a few weeks.

 Additional Experiences for applying for a low-interest student credit card:

Be honest about your income and expenses.

The credit card company will use this information to determine your credit limit.

Be prepared to provide proof of income.

The credit card company may ask you to provide proof of income, such as a pay stub or tax return.

Have a good credit history.

If you have a good credit history, you’ll be more likely to get approved for a credit card with a low interest rate.

Start with a secured credit card.

If you don’t have a credit history, you may want to start with a secured credit card. This type of card requires you to make a deposit, which will be your credit limit.

Requirements To Apply For Student Credit Cards For College Students?

The requirements to apply for a student credit card for college students vary depending on the credit card issuer. However, some common requirements include:

Must be a student.

You must be enrolled in a full-time undergraduate or graduate program at an accredited college or university.

Must have a credit history.

Some credit card issuers require you to have a minimum credit score, while others may be willing to approve you even if you don’t have any credit history.

Must be able to provide proof of income.

The credit card issuer will want to see that you have a steady source of income to repay your debts.

Must be a U.S. citizen or permanent resident.

Some credit card issuers only offer cards to U.S. citizens and permanent residents.

Must be at least 18 years old.

Most credit card issuers have a minimum age requirement of 18.