Credit Cards for College Students from Bank of America

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Student Credit Cards 101: Everything You Need to Know

Before 2009, credit card issuers used to set up tables on college campuses, giving out free T-shirts or Frisbees if students signed on the dotted line to get a student credit card. This kind of easy access to credit was great for some, but it got many young people into debt. Financial reform mostly put an end to these practices, and students — indeed all adults under age 21 — now have a much tougher time getting approved for a credit card.

If you're ready to apply for a student credit card and begin building credit, here's what you should know.

What is a student credit card?

Student credit cards are designed to help you start building credit. They function like regular credit cards, except they tend to offer lower credit limits and little to no incentives.

You don’t necessarily have to be a student to qualify for a student credit card, depending on the issuer. But you will still have to meet eligibility requirements, depending on your age.

Age and income requirements

IF YOU'RE UNDER 21

It is technically possible to get a credit card on your own, but issuers will require you to have an independent income, which most college students do not have. If you're under 21 and don't have your own income, you will need a parent or another trusted adult to co-sign for you on a credit card application.

IF YOU'RE OVER 21

Credit card restrictions are not as tight once you pass your 21st birthday. You'll still need to demonstrate that you have income, because issuers want to know that you can pay back what you spend. But you can include any income to which you have reasonable access, such as the income of a partner or spouse.