What is the best credit card to have to build credit for the first time?… Being able to apply for, getting and maintaining a credit card is a milestone that many young people look forward to achieving. It is however, a huge responsibility that you should never take for granted. Equally important is deciding which credit card to begin this journey into maturity with.
If you have made the necessary considerations and feel that you are ready to embark on this next step, below is a summary of some of the best credit cards available to college students who are keen to develop their credit history.
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1. The Citi Forward for College Students Card
It is a card with great rewards for its owner. For every dollar you spend at restaurants, on purchasing music, books or movies, you earn points that are redeemable. With no annual fee and zero percent APR on purchases for the first seven months, this card is as close to an “adult” credit card as you can possibly get.
2. The Chase Freedom Credit Card
Chase Freedom Credit Card is very friendly to those with minimal or no credit. It has zero percent APR for the first 15 months on balance transfers or any purchases made. Like the Discovery card, this card offers 5% cash back on purchases on grocery stores, restaurants and gas stations.
3. The Discover Student Card
This card is a very good option for students as it has no annual interest charges for nine initial months. With a variety of rewards up for grabs, the Discovery card is tailored to maximize on what a regular student would be doing on a daily basis (eating at restaurants, buying gas, groceries or books) by offering 5% cash back on these. For everything else, 1% cash back is offered. It has no annual fees. This card is not available to those who have no credit history whatsoever, therefore it is important to have some experience with credit before applying for this card.
4. The Capital One Journey Student Rewards Card
This card is available to those with limited credit history. It rewards you for paying your bill on time by rewarding you with 25% bonus on the cash back you earn that month. Although it has no annual fee, this card charges 19.8 percent APR.
5. The Capitol One Cash Card
The Capitol One Cash Card offers 1.5% cash back on all purchases and has no foreign transaction fees. It has no annual fees either. It is a good card for those who tend to travel abroad.
These are some of the best credit building cards that you can use to build your credit history. If you don’t want to have to deal with credit repair down the road, it is important to use these cards wisely. Keep an aye on your credit report, report any errors, and before you know it you will have a great credit score that can help you get better deals on anything from cars to houses.
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In case you are finding it difficult to get good credit cards to build credit with, it would be wise to check with your local credit union to find out what variety of cards they offer, as they often offer some of the best credit cards for building credit.