With the 2009 Credit Card Reform Act now in place for half a decade, credit card companies can now evaluate applicants on their ability to pay their bills, which means card owners must have savings or income. For college students and young adults, these criteria can be difficult to meet – but this doesn’t mean there are no reasonable credit cards available. The best credit cards for students have excellent rewards programs, no annual fee, and reasonable interest rates. Here are three of our favorites:

  • Bank of America Student Platinum Plus Visa. With an interest rate of 14.24% and a commitment to providing financial education to young people, this plan evaluates students based on summer and part-time jobs when calculating credit-worthiness. The card also comes with a financial literacy handbook. It provides information about how to build good credit, budget, and protect against identity theft. Cardholders can also take advantage of BOA Add It Up program, allowing them to earn up to 20% cash back on purchases with participating stores.
  • Citi Dividend Platinum Select Visa Card for Students. With this Citi card, students earn huge cash back rewards. With a 5% reward on supermarket, drugstore, gas station, and utility purchases and a 2% reward on department store, restaurant, and hotel purchases, the benefits are great. Participating retailers also offer a 5% cash back reward without a cap. This card has an interest rate of 0% for the first seven months; following that, the lowest possible rate is 12.99%.
  • Discover Student More Card. This student card from Discover offers a cash back bonus of 5% on purchases from restaurants, grocery stores, and for travel. When shopping at the card’s online retailer, cardholders can earn between 5% and 20% cash back. The first six months are interest-free, after which the interest rate rises between 12.99% and 19.99%.

As always, it is important to use credit wisely. If you are experiencing trouble with your credit card debt, seek credit counseling or consult with a local Louisville bankruptcy lawyer about your debt relief options.