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One of the most important attributes that a consumer needs to have is a good credit score. Those that are able to build and maintain a strong credit score will be able to qualify for low interest financing on mortgages, credit cards, auto loans, and other forms of debt. Unfortunately for young adults that have recently finished their schooling, having a good credit score is almost impossible due to a lack of credit history.

To ensure that they have a good credit score, it may be a good idea for all college students to open up a student credit card that will allow them to build a good credit history. One bank that provides several different credit card options is Bank of America. The Bank of America student credit cards have a number of features that separate it from other student credit cards.

Higher Approval and Acceptance

One attribute of the student loan credit cards provided by Bank of America is that approval for the loan is practically guaranteed. While the initial loan commitment and credit limit will be lower, students will be able to qualify for some type of credit. Regardless of the level of credit that they receive, students will receive a significant bump in their credit score by simply staying current with their loan payments and keeping the loan balance paid off.


Another feature of the Bank of America student loan credit card is the cost and fees of the credit card are lower than other credit cards provided by other banks. The interest-rate on these credit cards are typically under 20%. While this is a high rate, it is much lower than other credit cards that often charge as high as 30%. Furthermore, there are no fees associated with the card, except for late payment fees, and students can repay the debt and close the account whenever they want.


One of the biggest benefits of the bank of America student loan credit card is that there are rewards programs available to students. The bank has a number of different credit card reward program options that can be used to provide cashback, travel rewards, or even allow for contributions to future savings.

Relationship Building

Students open up their first student credit card account to Bank of America will also have the advantage of starting a relationship with the largest bank in the country. Bank of America will always factor in past relationships in history when they are analyzing any future loan application. This could help a student get a better rate on a mortgage or auto loan in the future.