Earn $200 Back With This Student Credit Card
KEY POINTS
- The Bank of America® Customized Cash Rewards credit card for Students has a $200 cash back welcome bonus.
- You earn it by opening the card and spending $1,000 on purchases in the first 90 days.
- Since this is a student credit card, there's no minimum credit score requirement.
Spring semester is either finished or about to wrap up, depending on where you go to school. While you have more free time on your hands, why not start building credit with a student credit card?
I know, I know. As far as summer plans go, building credit is about as unexciting as it gets. What is exciting is a $200 bonus -- and that's what you could earn with one of the top student credit cards.
Bank of America® Customized Cash Rewards credit card for Students
Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards
On Bank of America's Secure Website.
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On Bank of America's Secure Website.
Good/Excellent (670-850)
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
19.24% - 29.24% (Variable)
Rewards 3% cash back in the category of your choice, 2% at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, and 1% on all other purchases.
1% - 3% cash back
Annual Fee
$0
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
$200 cash back
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This student credit card has it all. You'll have a hard time finding a student card with a cash back program this lucrative to go along with a sign-up bonus.
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- Competitive sign-up bonus
- Bonus cash back in a category of your choice
- No annual fee
- 0% intro APR offer
- Foreign transaction fee
- Limit on bonus cash back
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- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.
- Choose 3% cash back on gas and EV charging station, online shopping/cable/internet/phone plan/streaming, dining, travel, drug store/pharmacy or home improvement/furnishings purchases.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 19.24% - 29.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- When handled responsibly, a credit card can help you build your credit history, which could be helpful when looking for an apartment, a car loan, and even a job. Access your FICO® Score for free within Online Banking or your Mobile Banking app.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
A $200 welcome offer with a Bank of America student credit card
The Bank of America® Customized Cash Rewards credit card for Students has, first and foremost, a ridiculously long name. Just writing it makes me feel like I'm back in college, padding the word count in an essay.
It also has a welcome offer for new cardholders. After you open this card, you can earn an online $200 cash back bonus after spending $1,000 on purchases in the first 90 days. You can put that cash back toward your credit card bill as a statement credit, or deposit it into a Bank of America checking or savings account.
Even if you don't spend a lot, the $1,000 spend requirement shouldn't be too hard to reach. You could use this card for your groceries, gas, phone bill, and any other expenses you have.
Pro tip: Only use your credit card for purchases you'd be making anyway -- don't spend more money just because you can. Also, always pay your bill in full by the due date. If you pay in full, you won't get charged any interest on what you purchase.
More benefits
You'll also earn cash back on your purchases with this card. The amount depends on where you use it, but Bank of America lets you pick your own bonus category. Here's how much cash back you'll earn:
- 3% in a category of your choice (the options are gas and EV charging stations, online shopping, dining, travel, drug stores, and home improvement/furniture)
- 2% at grocery stores and wholesale clubs
- 1% on other purchases
Just so you know, there's a limit on how much bonus cash back you can earn. You earn 2% and 3% on up to $2,500 in combined purchases across those categories per quarter.
Another big benefit is that this card doesn't charge an annual fee. You won't need to pay anything to get it or to keep it.
It also has an online tool where you can check your FICO® Score free of charge. FICO® Score is the type of credit score that most lenders use, so it's the best way to stay up to date on your credit. Bank of America's tool provides info on what's affecting your credit score and how to improve it, too.
Can you get a student credit card?
If you're new to credit cards, you might be wondering about the application process and if you'll meet the requirements. Since this is a student card, the approval requirements are fairly lenient. You could get approved even if you don't have a credit history yet.
You will need a form of income. This could be income from a job, but it could also be money from scholarships and grants, or an allowance.
A good choice for your first credit card
College is the perfect opportunity to start building financial independence. A credit card is one way to do that.
You do need to be careful not to overspend, since this can lead to debt. But if you use your card for your regular bills and pay in full every month, you'll gradually build your credit score. This will play a big role later in life. Landlords usually check your credit when you apply to rent an apartment, and your credit is also important when getting a mortgage.
There are lots of quality credit cards available. When you're in college and getting your first one, this Bank of America card has everything you need, including some nice bonus opportunities.
Alert: our top-rated cash back card now has 0% intro APR until 2025
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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