When you first start to build credit it can be hard to find a good credit card. Here are tips to finding the best first credit card to build your credit score.
People get their first credit cards at different times in their lives. Some are in high school, some are in college, some are much older. It all depends on when an individual feels like they can take on the responsibility and the privilege.
That being said, there are no downsides to building your credit early. A strong credit score can help you out numerous times over the course of your life, so establishing healthy credit behavior early on is never a bad idea.
But if you’re new to credit cards, how do you get started? There are so many amazing cards out there. Read on, and we’ll walk you through some options for the best first credit card.
Discover Student Cash Back Card
If you’re looking to get started building credit in college, a student credit card is a perfect way to go. And lucky for you, Discover offers one of the best student credit cards on the market.
The Discover it Student Cash Back credit card pays 5% cash back on a number of purchases that students make. These include groceries, gas, dinners out and online purchases at common outlets like Amazon. Students can make big money back while still building up their credit.
The 5% cash back areas alter on a quarterly basis. But all purchases, regardless of what vendor, are rewarded with 1% cash back year-round.
Not only that but at the end of your first year with Discover, they’ll match your total cash back total for the year as a bonus. They’ll send you an additional twenty dollars if you can keep your GPA above a 2.0 as well.
All you need to sign up for the student cash back card is proof of enrollment, and then you can be on your way to brighter credit futures.
Milestone Gold Mastercard
The reviews for this stellar card from Mastercard indicate just how much of a perfect fit it is for new credit card hopefuls.
The milestone card is specifically designed for those with poor or non-existing credit. It has a quick pre-qualification process available and almost all financial situations are accepted.
While this card does not offer many perks or rewards, it does offer you a stable platform for you to build your credit foundation. And in the long run, that can be the biggest perk of all.
Capital One Platinum Card
If you’re not a student or are looking for a more professional card, the Capital One Platinum can be the perfect fit for your wallet.
There’s not a lot of frills or extra cute perks to this card, but it does have the best reputation for approving new users looking to start building credit. Many have been approved without having a pre-existing credit history.
Capital One has a policy of approving members for credit increases as long as you make your first five payments on time. That means this card offers you a quick and easy path to forge ahead on for your credit history.
The Best First Credit Card For Newbies
If you’re just looking to build your credit score, it can be hard to know what a best first credit card should be. The above options should start giving you a sense of just what is available to you.
Thinking about traveling overseas? Check out our recommendations for the best international cards.