Earn $200 Back With This Student Credit Card

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.

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.