To build credit you must use credit. Of course, to use credit, you must first obtain a credit card.
That’s why you’ve arrived at this article. You’re looking for the best first credit card available to you but aren’t sure of what it is. In short, you’re looking for help.
Fortunately, we’re here to provide that help to you. Without further ado, here are the 7 best starter credit cards on the market today.
1. Citi Simplicity Rewards Card
If you have already built credit (through loan payments) but have not yet applied for a credit card, you should consider applying for the Citi Simplicity Rewards Card.
This card offers an incredible 18-month 0% intro APR, one of the longest in the business. As such, it allows you to make interest-free purchases for a year and a half. Not to mention, it carries no penalty fees for late payments.
If you’re looking for some leeway in your spending, Citi Simplicity is a card you should consider. Because it doesn’t charge interest for such a long period of time, it gives you plenty of time to avoid falling into a financial hole.
2. Capital One Platinum
One of the easiest cards for first-time cardholders to obtain is the Capital One Platinum card. While it offers very little in the way of rewards, it does allow high school and college students to start building credit early in their lives.
Note, however, that it has no 0% intro APR. Also, make note that it’s void of a cashback reward system.
With this card, you’re expected to make your payments from the onset. Should you fail to make payments, interest will begin to accrue immediately. In short, don’t apply for this card unless you’re confident in your ability to be financially responsible.
3. Discover It
Discover It is a low-risk card which slowly eases new users into building their credit. Coming with a 14-month 0% APR, it accrues no interest over the first year and 2 months of use.
One of the best components of the Discover It card is its cashback rewards system. Not only does it offer 5% cashback on select purchases, but 1% cashback on all other purchases. So, regardless of what you use it for, it will be making you money in the long-run.
4. Capital One Secured Mastercard
The next credit card we’ll discuss is the Capital One Secured Mastercard, the best first credit card for those with bad credit. If your credit score is at 650 or below, this is the card you should focus on. Though you’ll need to pay a deposit in order to obtain it (between $99 and $200), it will put you in a position to start building your credit up.
This card starts with a low credit limit, usually around $200. However, once you’ve proven that you can make your payments, your limit will increase, and your spending capabilities will improve.
While this card doesn’t offer any rewards, it doesn’t come with an annual fee either. Plus, it allows you to check your credit score for free whenever you’d like.
5. Bank of America Student Cash Rewards Credit Card
If you’re a college student, you should consider applying for the Bank of America Student Cash Rewards card. Designed for those who are new to credit, it offers 12 months of 0% intro APR. This allows you to ease into making payments without accruing any interest.
But 0% APR isn’t the only benefit of this card. It also offers 2% cashback at grocery stores and 3% cashback in a spending category of your choice. Selectable categories include travel, online shopping, gas, dining, and pharmaceuticals, to name just a few.
This card also offers a $200 bonus upon the spending of your first $1,000. This is bigger than the vast majority of credit card bonuses you’re going to find.
Curious about annual fees? There are none!
6. OpenSky Secured Visa
Unsure as to whether or not your credit score is good enough for you to obtain a credit card? Don’t fret! The OpenSky Secured Visa card is here.
The application for this card doesn’t require you to enter your credit score, almost guaranteeing that you’ll be accepted. The only catch is that you have to pay a $200 deposit.
Once you make your deposit, it’s important that you pay off your charges on a monthly basis. If you do, you will be given the chance at higher credit limits.
In the end, this is a solid card for those who are trying to build up their bad credit. If your credit is good or non-existent, however, you would be better off with another card.
7. Chase Freedom
The last card we’ll review is the Chase Freedom card, a popular card which is highly beneficial to first-time credit card users. Coming with a $150 sign-up bonus for first-time cardholders, it offers a 0% intro APR for the first 15 months of use.
There is no annual fee to use the Chase Freedom card. In addition, it offers up to 5% cashback on specific purchases, while offering at least 1% cashback on all purchases.
If you’re looking to start your credit card holding career with a bang, Chase Freedom will allow you to do so. It has everything a new cardholder could ever hope for.
Get Your Best First Credit Card Now!
Truthfully, the best first credit card is different for every person. Whereas some individuals need a card which is easy to obtain, others seek a card which provides ample rewards.
So, while the cards above are all solid options, they should only comprise the beginning of your search. In essence, in order to find the perfect card for you, you need to take a deeper dive.
Looking for more credit card info? Keep tabs on our blog.
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