Can you pay your student loans with a credit card?
Editor's Note
Student loans are a burden that many Americans have.
If you're currently repaying your student loans or if you're a recent grad facing the start of repayments, you may wonder if you can pay your loans with a credit card. Since student loan payments are often large, they could, in theory, be an easy way to hit spending requirements for welcome offers.
So, can you pay your student loans off with a credit card? Here's what you need to know.
Related: Can you pay rent with a credit card? Everything you need to know
Can I pay my student loan with a credit card?
You do not have the option to pay your federal loans directly with a credit card, but you can use a card to pay through a third-party payment service. These third-party services often charge a fee for each transaction, so read the fine print before picking a specific service.
A third-party service to pay student loans with a credit card is a great option if you're trying to meet a credit card spending requirement. If you earn a substantial credit card sign-up bonus, it's well worth paying a small fee. But if you're not working on a bonus, calculate whether the rewards you'll earn are valuable enough to offset the additional fee of paying your student loans with a credit card.
You'll need to check with your specific lender if you want to pay a private student loan with a credit card. While certain lenders will let you pay your private student loans with a credit card, most do not. If your lender doesn't accept a credit card as a form of payment, look into using a third-party service.
Related: Why nearly every purchase should be on a credit card
Benefits of using your credit card for your student loans
If your loans are through a private lender that allows you to pay them with a credit card, take advantage of the opportunity to earn some serious rewards. According to Forbes, the average borrower owes $35,210 in student loan debt.
If you paid that balance with a 2% cash-back card, for example, you would earn $704 in cash-back rewards.
Using a points-earning card can be worthwhile, although you'll want to earn more than 1 point per dollar if you can.
The Capital One Venture Rewards Credit Card earns 2 miles per dollar spent on all purchases. If you paid off a $35,210 student loan with the Venture Rewards, you'd earn 70,420 miles. Those points are worth $1,303, according to TPG's January 2025 valuations.
Related: How to pay college tuition with a credit card
Best cards to pay your student loans
If you can pay your loans with a credit card, you'll want to use a card that earns the most rewards on your payments. These are our top picks:
- Bank of America® Premium Rewards® credit card: Best for Bank of America customers
- Chase Freedom Unlimited®: Best for those with an Ultimate Rewards points-earning credit card
- The Blue Business® Plus Credit Card from American Express: Best for Amex Membership Rewards points
- Capital One Venture Rewards Credit Card: Best for flexible rewards
- Citi Double Cash® Card (see rates and fees): Best for flat-rate cash back
- Capital One VentureOne Rewards Credit Card: Best for Capital One miles with no annual fee
Comparing the best credit cards for student loan payments
| Credit Card | Best For | Student Loan Rewards Rate | Annual fee | Welcome bonus |
|---|---|---|---|---|
| Bank of America Premium Rewards credit card | For Bank of America customers | 1.5 points per dollar spent | $95 | Earn 60,000 bonus points after spending $4,000 in purchases in the first 90 days of account opening. |
| Chase Freedom Unlimited | Best for those with an Ultimate Rewards points-earning credit card | 1.5% cash back | $0 | Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year). |
| Blue Business Plus Credit Card from American Express | Best business card for earning Membership Rewards | 2 points per dollar on the first $50,000 in purchases each calendar year
1 point per dollar thereafter | $0 (see rates and fees) | Earn 15,000 Membership Rewards points after spending $3,000 in eligible purchases on the Card within your first three months of card membership. |
| Capital One Venture Rewards Credit Card | Best for flexible rewards | 2 miles per dollar on every purchase | $95 | Earn 75,000 bonus miles when you spend $4,000 on purchases within the first three months from account opening. |
| Citi Double Cash Card | Best for flat-rate cash back | 2% cash back on every purchase (1% cash back when you buy, plus an additional 1% as you pay for those purchases) | $0 | Earn $200 cash back after spending $1,500 on purchases in the first six months of account opening. |
| Capital One VentureOne Rewards Credit Card | Best for earning Capital One Rewards with no annual fee | 1.25 miles per dollar on every purchase | $0 | Earn 20,000 bonus miles after spending $500 on purchases within the first three months of account opening. |
Related: Best credit cards for everyday spending
Bank of America Premium Rewards credit card
If you're already a Bank of America customer, the Bank of America Premium Rewards card may be a good fit for you.
Annual fee: $95
Sign-up bonus: Earn 60,000 bonus points after you make at least $4,000 in purchases in the first 90 days of account opening.
Rewards rates: 2 points per dollar spent on travel and dining; 1.5 points per dollar spent on all other purchases
Why we like it: The Bank of America Premium Rewards credit card is a great option for paying your student loans because it earns 1.5 points per dollar spent. If you're a Bank of America Premium Rewards® member, you'll earn 25%-75% more bonus points, meaning your student loan payments could earn you up to 2.62 points per dollar spent. You can redeem points at a rate of one cent each, making the 60,000-point welcome bonus worth $600.
While this card does carry a $95 annual fee, it's completely offset by an up to $100 airline incidental statement credit issued annually. Cardholders also qualify for up to $100 Global Entry/TSA PreCheck credit every four years, which is rare for a card with a $95 annual fee. Credits like these are normally offered by cards with annual fees of $450 and up, which is why the Bank of America Premium Rewards Credit Card is unique.
To learn more, read our full review of the Bank of America Premium Rewards credit card.
Related: Best Bank of America credit cards
Apply here: Bank of America Premium Rewards
Chase Freedom Unlimited
The Chase Freedom Unlimited is a great choice if you already own a card that earns Ultimate Rewards points or if you plan on opening one in the future.
Annual fee: $0
Sign-up bonus: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year).
Rewards rates: Earn 5% cash back on travel booked through Chase Travel℠, 3% back at drugstores and on dining at restaurants (including takeout and eligible delivery services) and 1.5% back on all other purchases.
Why we like it: The Chase Freedom Unlimited is a great card for making student loan payments, especially if you have another Chase card that earns Ultimate Rewards points. The card has no annual fee and earns unlimited 1.5% cash back on non-bonus purchases. If you have a card that earns Ultimate Rewards points, such as the Chase Sapphire Preferred® Card, the Chase Sapphire Reserve® or the Ink Business Preferred® Credit Card, you can transfer your cash-back rewards to your Ultimate Rewards account for valuable redemption options.
To learn more, read our full review of the Chase Freedom Unlimited.
Related: The power of the Chase Trifecta
Apply here: Chase Freedom Unlimited
Blue Business Plus Credit Card from American Express
If you own your own business or have a side hustle, opening the Amex Blue Business Plus can give you another option to pay your student loans.
Annual fee: $0 (see rates and fees)
Welcome offer: Earn 15,000 Membership Rewards points after you spend $3,000 in eligible purchases within your first three months of card membership.
Rewards rates: 2 points per dollar on all spending, up to $50,000 per calendar year (then 1 point per dollar)
Why we like it: If you're looking for maximum rewards on student loan payments, the Blue Business Plus card is an excellent choice. The card earns 2 points per dollar on all spending, up to $50,000 per calendar year (then 1 point per dollar). The downside is that you may not be able to use an American Express card for student loan payments as readily as a card from one of the other major issuers. This is also a business card, and while you may qualify for a business card without realizing it, it's not ideal for everyone.
That said, the card does not carry an annual fee and can be useful for other expenses, such as shipping, advertising and business utilities.
To learn more, read our full review of the Amex Blue Business Plus card.
Related: How to apply for a business credit card
Apply here: Amex Blue Business Plus
Capital One Venture Rewards Credit Card
If you're willing to pay the annual fee, the Capital One Venture Rewards is a great choice for paying your student loans.
Annual fee: $95
Sign-up bonus: Earn 75,000 bonus miles when you spend $4,000 on purchases within the first three months from account opening.
Rewards rates: 5 miles per dollar on hotels, vacation rentals and rental cars booked through Capital One Travel and 2 miles per dollar on all other purchases
Why we like it: With a simple reward structure, the Capital One Venture Rewards card earned its place on TPG's list of best travel credit cards. The card earns 2 miles per dollar spent across all purchases. You can get great value by transferring your miles to airline partners and hotel loyalty programs. The high flat-rate earn rate and flexible redemption options make the Capital One Venture Card a great option for student loan payments.
To learn more, read our full review of the Capital One Venture Card.
Related: Best Capital One cards
Learn more: Capital One Venture Rewards
Citi Double Cash Card
The Citi Double Cash card, like the Capital One Venture Rewards, has a simple earnings structure that makes it appealing for paying off your student loans.
Annual fee: $0
Sign-up bonus: Earn $200 cash back after you spend $1,500 on purchases in the first six months of account opening.
Rewards rates: Earn 2% cash back on every purchase (1% when you buy and 1% when you pay your bill). Plus, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through Dec. 31, 2025.
Why we like it: If you're looking for 2% cash back and the ability to convert your rewards to ThankYou points for no annual fee, look no further than the Citi Double Cash Card. The card earns 2% cash back on all purchases — 1% when you make a purchase and another 1% when you pay your card off every billing cycle. That's not only a great incentive to pay off your balance (something you should be doing regardless), but 2% is also a solid payout if you want to earn cash back on your student loan payments.
What's better than 2% cash back on your student loan payments? Two Citi ThankYou points per dollar spent. If you have a card in your wallet that earns Citi ThankYou points, you can convert your cash back rewards from the Citi Double Cash to Citi ThankYou points.
To learn more, read our full review of the Citi Double Cash Card.
Related: Why the Citi Double Cash will always have a place in my wallet
Apply here: Citi Double Cash
Capital One VentureOne Rewards Credit Card
Not to be confused with the Capital One Venture Rewards, the Capital One VentureOne Rewards has no annual fee, making it a good option for anyone who can't afford an annual fee on their credit card.
Annual fee: $0
Sign-up bonus: Earn 20,000 bonus miles after you spend $500 on purchases within the first three months of account opening.
Rewards rates: Earn unlimited 1.25 miles per dollar on every purchase.
Why we like it: If you want to earn Capital One miles on your student loan payments without paying an annual fee, the Capital One VentureOne Rewards Credit Card is a great option. The card earns a flat 1.25 miles per dollar spent on all purchases.
Not many rewards cards with no annual fee offer a sign-up bonus, which makes the 20,000 bonus miles this card offers unique. You can redeem these miles for $200 in travel purchases or transfer them to one of Capital One's 15-plus airline and hotel partners for even better value.
To learn more, see our full review of the Capital One VentureOne Rewards card.
Related: Capital One Venture X credit card review
Learn more: Capital One VentureOne Rewards
Bottom line
Picking the right card to pay your student loans depends on several factors. Most importantly, find out whether your student loan lender accepts credit cards and what the terms are. If you can use a card, consider the rewards you'll earn by paying your student loans with a credit card and whether you'll get enough value from your rewards to offset any fees the payment will incur.
For rates and fees of Blue Business Plus card, click here.