Secured Credit Cards vs. Student Credit Cards: What’s the Difference?

iQuanti: Stepping into the world of adulthood means getting a credit card and beginning to build up a good credit score. However, many credit cards require a good credit score in order to be approved. Although it may feel like a Catch-22, there are tools designed to help build credit history from scratch.
For students in college looking to start building their credit or are interested in applying for their first credit card, student credit cards are a great option. For non-students, secured credit cards are an option for anyone looking to build or rebuild their credit. Both types of credit card offer the opportunity to build credit score.
What is a Student Credit Card? 
For those in college seeking the best option for their first credit card, a student credit card may be the best fit.
The majority of students in college have little to no credit history, but may want to start building their credit score in order to take out a car loan or to start renting their first apartment. A student credit card allows them to build their credit from scratch while receiving special perks and rewards.
Making on-time payments on a credit card that is then reported to all three credit bureaus is an important step in establishing a credit score, and having a credit card will also help by increasing the lines of available credit and, eventually, the age of credit accounts. Having good credit leads to lower interest rates, which will make a huge difference when taking on larger loans. 
Secured Credit Cards
Secured credit cards are another great option to help strengthen a credit score and demonstrate financial responsibility to credit bureaus. Using a secured credit card to build credit requires a minimum deposit, which becomes the credit limit and is used as collateral against any defaulted debts.
Look for a secured credit card that offers the ability to move to an unsecured card and have the deposit refunded after a certain amount of on-time payments. Some secured credit cards come with high fees and no rewards, but the best secured credit cards will have no annual fees as well as the opportunity to earn rewards on your spending. 
Regardless of whether your credit-building journey has just begun or if your credit is in recovery, you have good credit card options available. Determining the best fit depends on what rewards are the most appealing and which credit card is the best match. Earning money on purchases while building a strong credit history is a win-win either way. 
Source: iQuanti, Inc.