The Best Starter Credit Cards
There’s always important aspects you need to consider before choosing your first credit card. Once you have a good idea of your goals, you can then begin searching for cards and deciding which ones best match what you’re looking for. Here’s some of the best ones on the market that will most likely meet your needs of getting high returns or building up credit.
Discover it Secured
A deposit is going to be required with all secured cards. This one has no annual fee and rewards of up to two percent. The APR is going to be higher too, but if you can’t qualify for an unsecured card, or strictly want to improve credit, this is a good option. It’s about as cheap as minimum deposits go: $200.
Capital One QuicksilverOne Cash Rewards Credit Card
This will accept a fair credit score rating, but gives 1.5 percent cash back. While the annual fee is rather low at $39, your interest rate is going to be be around 26.99%. If you can pay the balance off before the end of every month, you won’t be too affected by that APR however.
Chase Freedom Unlimited
If you’re looking for a flat rate reward card with the highest return possible, this is the card for you. With three percent cash back, it’s definitely one of the highest on the market. It’s great for just everyday purchases.
Some cards will give you particularly high cashback percentages for certain categories. If you spend the most on groceries, gas, or airlines, you can get five percent back on categories with bonus rewards on this card. It’s also a good start because it has no annual fee.
Discover it Student Cash Back
If you’re a student, you can take advantage of the credit cards offered just for students. This card in particular has five percent cashback rewards for rotating categories, meaning that you can earn extra points for gas one quarter and Amazon another quarter. With no annual fees, cash rewards for good grades, and a promise to match all cashback at the end of the first year, this card seems like a good one for those looking to get the most of our their first credit card.
Capital One Platinum Credit Card
This credit card is good if your credit is iffy. Although there’s no annual fee, this one doesn’t have the bells and whistles the others do. However, for someone just looking to build credit, this can be helpful if you’re starting from scratch.
Deserve Edu Mastercard
If you happen to be an international student, this is a stellar card for you because it doesn’t require a social security number, unlike most cards. You’ll get one percent cash back and a maximum credit limit of $5,000. One interesting aspect is that they will provide you with $600 for phone insurance if you use the card to pay your phone bill.