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this post may contain references to products from our partners. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. To determine which cards offer the best value for students, CNBC Select analyzed 13 of the most popular credit cards available for college students looking to build credit. Deserve — the startup company once known as SelfScore — offers credit cards for students and employed individuals who lack a credit history or are looking to build or expand one. According to Marqeta’s 2021 State of Credit report, 63% of consumers have relied on credit cards to make ends meet during the ongoing COVID-19 pandemic, yet consumer credit cards haven’t evolved to meet this new demand for credit products.
You do, however, need to be over age 18, enrolled in college and have a U.S. bank account. Caroline Lupini has been traveling the world with the help of travel rewards since 2011. She has visited over 105 countries and is able to utilize her knowledge of credit cards and travel rewards to make travel both less expensive and more luxurious. Caroline spends over 330 days per year outside of the U.S. and previously freelanced for Business Insider, The Point Guide, USA Today, Lonely Planet, Orbitz and many others. The Discover it® Student Cash Back card also has no annual fee, but offers 5% cash back on the first $1,500 in quarterly spending in select rotating categories when you enroll. The Deserve® EDU Mastercard for Students is for all eligible students — including international students — who are attending a U.S. college or university and want to get an early start on building credit while also earning rewards.
Sweet Friendship Card – You Deserve All the Beauty in the World
If so, Deserve evaluates the applicant’s credit score and other factors to determine their creditworthiness for the card. Originally, the company issued cards that focused on international students who didn’t fit the qualifications for traditional lending based on FICO scores. Now, as Deserve, the company has opened applications to any eligible candidates who may be turned away by other issuers for lack of a Social Security number, a credit history or both. Deserve said its platform is designed for companies of all sizes, letting them create cards for business customers and offer services such as instant issuance and digital wallet provisioning, which lets cardholders use their cards within minutes. Deserve also provides enterprise-level controls, making it easy for finance teams to track, manage and understand expenses. Bankrate.com is an independent, advertising-supported publisher and comparison service.
As a student, your smartphone is likely to be one of the most valuable items in your possession. Enter the Deserve® EDU Mastercard for Students, which offers $600 of cellphone protection to help guard against just such a mishap. If you’re a student with no credit history or an international student who needs a credit card that doesn’t require a Social Security number, the Deserve EDU Mastercard for Students could be an excellent choice. For international students the Deserve EDU could be a solid choice because it doesn’t require a Social Security number. For students studying abroad, the card presents an excellent solution because of its lack of foreign transaction and exchange fees.
Deserve® EDU Mastercard for Students* vs. Discover it® Student Cash Back
Cardholders won’t earn any rewards, but they will get the chance to build credit and to potentially upgrade later to the Deserve® EDU Mastercard for Students or Deserve® Pro Mastercard, assuming consistent on-time payments and/or credit score improvement. For applicants with no credit or low credit scores, Deserve will use its own underwriting process and algorithm to evaluate creditworthiness. There are options to select UPS 3 Day, 2 Day or Overnight shipping as well. We offer international shipping as well, contact a customer service rep for details or a quote. Please note that when you select expedited shipping (next day, 2 day or 3 day) that the shipping times are in addition to the production times.
- For students keen on travel, another card without foreign transaction fees is the Bank of America® Travel Rewards credit card for Students.
- We will also be holding a webinar “Guide to building a modern credit card” on October 14th.
- In fact, this is the only student card we know of that has it—which is why we named it Best Student Credit Card if You Break Your Cellphone.
- Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.
- The Deserve® EDU Mastercard for Students is for all eligible students — including international students — who are attending a U.S. college or university and want to get an early start on building credit while also earning rewards.
College comes with many firsts, and it’s often a natural time to sign up for your first credit card. Deserve doesn’t allow co-signers, so all applicants under 21 must prove their independent ability to pay in order to qualify. Deserve takes a different approach for certain applicants, relying in some cases on a proprietary algorithm and applicants’ financial documents to measure creditworthiness. The service requires full cookie support in order to view this website.
User Reviews for Deserve Cards
Through our partnership we hope to deliver what our customers need most — the ability to design and launch credit products that can meet the needs of their unique audience with the ability to create embedded, brand-centric experiences. And when user preferences https://turbo-tax.org/deserve-cards/ and shopping habits change, customers can leverage our API-first platform to iterate and test new propositions to keep their top-of-wallet status. Bankrate follows a strict
editorial policy, so you can trust that our content is honest and accurate.
- Our first customer, M1 Finance, is a great example of how innovators are designing for unique use cases that delight their user base.
- 3% cash back on travel and entertainment, 2% cash back on restaurants and 1% cash back on all other purchases.
- They’ll instantly feel it with this sweet and thoughtful card.
- The card requires a Social Security number, which is used to determine whether an applicant has established credit.
- This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research.
This APR for this card is currently 22.99% variable, and there is not a promotional 0% APR period for special financing. The developer, Deserve Inc., indicated that the app’s privacy practices may include handling of data as described below. Scalable and secure card programs for a variety of industries.
Buy Side from WSJ is a reviews and recommendations team, independent of The Wall Street Journal newsroom. Whether you want to pay less interest or earn more rewards, the right card’s out there. Just answer a few questions and we’ll narrow the search for you. 3% cash back on travel and entertainment, 2% cash back on restaurants and 1% cash back on all other purchases. Still, that comes with the caveat that the card will not necessarily pay the full cost for a lost phone. But if you accidentally drop your phone, or somebody steals it out of a gym locker, you would be covered.
- The platform also offers instant issuing, configurable underwriting, business owner control over employee card assignments and employee spending.
- The Deserve EDU has a $0 annual fee and no foreign transaction fees.
- Because it’s unusual for college student cards to have robust rewards programs, we did not analyze how many rewards points you can earn in the first year.
- We follow strict guidelines to ensure that our editorial content is not influenced by advertisers.
For applicants with little or no credit, Deserve uses an algorithm instead of traditional FICO scores to determine creditworthiness and ability to pay. The algorithm measures applicants’ credit potential instead of credit history. For students, it evaluates the school, major, student visa if applicable, passport ID if applicable, and likelihood to graduate and get a job. For employed individuals, the verification process is similar, except that Deserve verifies employment instead.
Should you get the Deserve EDU Mastercard for Students?
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- We offer international shipping as well, contact a customer service rep for details or a quote.
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