Hot Student Stories

Which is the best MasterCard student credit card?

After thorough schooling from my parents on how to get credit as a student, I think I am fit to apply for a student credit card. I have a stable source of income on the side that will help me clear my balances and bills.

My parents use MasterCard credit cards, and I would like to get one for students. However, my challenge is that I have no information on this matter. I do not know any specific cards to apply for. Can you advise me on the best MasterCard for students?

Theresa Perry

in Student Loans

1 answer

1 answer

Jeremy Wood on May 24, 2018

There are multiple things to consider before deciding that a particular credit card is the best MasterCard for a student. These include rewards, suitability to the student (is it ideal for an international student?), bonuses offered, and the ability to build your credit with it.

On that note, below are MasterCard students’ credit cards that are ideal for you as a student:

Capital One MasterCard

The people behind this card understand that it can be challenging for a student to get approved for a credit card on first time application. Therefore, they provide the secured credit card product to enable you to own a credit card as a student.

The secured credit card works like so; you pay a specific security deposit that will enable you to secure a credit limit. It gives you the option of either paying a refundable $49, $200, or $299. This amount depends on your creditworthiness.

When you pay the minimum security deposit amount, you get $200 to start you off. If you feel like this amount is not adequate for you, you should deposit some more cash before the opening of your account.

On receiving your Capital One card, you can start using it right away just like any other credit card. Increase your card limit by making the first five monthly payments timely. You will not pay any additional security deposits to increase your credit limit.

Another useful feature that you will benefit from as a Capital One customer is CreditWise. This free feature allows you to keep tabs on your credit history thus ensuring that you are in constant control of your finances throughout.

Note this: There are no annual charges. However, the APR is 24.99%.

Deserve Edu Credit Card

Many lenders require that you have a social security number before they can proceed to give you a credit card. This number enables them to scrutinize your credit history and also helps them to identify you.

However, you can still get the Discover Edu credit card without a social security number. This condition makes this card ideal for international students too. On approval, Deserve reports your credit history to the relevant credit bureaus. Therefore, using your credit card responsibly is essential to putting you on track to getting credit as a student.

This card pays 1% unlimited cash back on all the things that you buy. Moreover, it pays for the annual Amazon Student Prime fees. 

Eric Bates2 years ago

MasterCard has been around for quite some time now. Therefore, I understand your devotion to this trusted brand. However, other fantastic non-MasterCard student credit cards can be useful to you as you pursue higher education.

Feel free to check out Bank of America’s Student credit card. This card wards you with 20,000 bonus points on signing up. What do you have to do?  To earn this bonus, you should make purchases worth $9000 within the first 90 days of activating the card.

This bonus can be redeemed for a statement credit worth $200 to meet travel purchases that you make. As you keep using the card, you will earn 1.5 points each time you make a purchase using the credit card.

If you have an active checking or savings account with Bank of America, you will earn a bonus of 10% on all your travel bonuses.

Hope this info helps! 

Add you answer