Best Credit Cards for Starting Credit

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Best Credit Cards for Starting Credit: Starting your credit journey can feel like stepping into uncharted territory. You may have heard about the importance of building credit, but with so many credit card options available, it can be overwhelming to know where to start.

Fear not! We’re here to guide you through the process of decision-making by highlighting some of the best credit cards tailored for individuals who are just starting to build their credit history.

Building credit is like laying the foundation for your financial future. A good credit score opens doors to various opportunities, such as obtaining loans, renting apartments, and even securing better insurance rates.

One of the most common ways to start building credit is by getting a credit card designed for beginners. These cards typically have lower credit limits and may require less stringent credit history requirements. So, let’s delve in.

Best Credit Cards for Starting Credit

How to Choose the Best Credit Card for Starting Credit:

Before selecting a credit card to start building your credit, here are some things to consider;

  • Consider Your Spending Habits: Look for a card that aligns with your typical expenses. Some cards offer higher rewards in specific categories, catering to different spending patterns.
  • Fees and Interest Rates: Pay attention to annual fees, late fees, and APR. Starting with a card that has no annual fee can be a wise choice for beginners.
  • Credit Building Opportunities: Opt for a card that reports to major credit bureaus and offers opportunities for credit growth. Cards that review your account for possible upgrades can be beneficial.
  • Welcome Offers: While not a deal-breaker, welcome offers can provide a financial boost. Consider cards with welcome bonuses that align with your budget and spending capabilities.
  • Additional Benefits: Some cards offer extra perks, such as free access to credit scores, introductory 0% APR, and no foreign transaction fees. Evaluate these features based on your needs.

Best Credit Cards for Beginners

Let’s delve into some of the top choices for beginners to start building their creditworthiness;

Discover It Secured Credit Card

This card is an excellent option for beginners with no credit history or those looking to rebuild their credit. It requires a security deposit, which becomes your credit limit, and offers cashback rewards on purchases.

Key Features: Cashback match for the first year, no annual fee, and the opportunity to upgrade to an unsecured card after demonstrating responsible credit behaviour.

Capital One Platinum Credit Card

The Capital One Platinum Credit Card is geared towards individuals with limited or fair credit. It offers access to a higher credit line after making the first five monthly payments on time, thus making it a stepping stone for building credit.

Key Features: No annual fee, access to a higher credit line, and the possibility of building credit with responsible use.

Petal 2 “Cash Back, No Fees” Visa Credit Card

Petal 2 is another one of the best credit cards for starting credit. In other words, it is an innovative option for those new to credit. It evaluates applicants based on their financial history, such as income and savings, rather than just credit score. Also, offers cashback rewards and no fees, making it attractive for beginners.

Key Features: No fees (including no annual fee, late fee, or international fees), cashback rewards, and a straightforward application process.

Secured Mastercard from Capital One

Designed for individuals looking to establish or rebuild credit, this card requires a refundable security deposit, which becomes the credit line. It reports to all three major credit bureaus, helping users build credit with responsible use. So, this is a go-to if you wish to build your credit.

Key Features: Opportunity for a higher credit line with responsible use, no annual fee, and access to credit education resources.

OpenSky Secured Visa Credit Card

The list will be incomplete without mentioning OpenSky Secured Visa. This is an accessible option for individuals with poor or no credit history. It doesn’t require a credit check for approval, making it a viable choice for those who may have difficulty qualifying for other cards.

Key Features: No credit check is required for approval, reports to all three major credit bureaus, and a refundable security deposit.

Citi Secured Mastercard

The Citi Secured Mastercard is a straightforward option for building credit. It requires a security deposit, offers flexibility in choosing the deposit amount, and reports to all three major credit bureaus. This is one of the highly recommended credit cards for starting credit.

Key Features: Flexible security deposit options, no annual fee, and the opportunity to build credit with responsible use.

Discover it Student Cash Back

Geared towards students who are new to credit, this card offers cashback rewards on purchases. It’s a great way for students to start building credit while earning rewards on everyday spending.

Key Features: Cashback match for the first year, rewards for good grades, no annual fee, and access to a credit education platform.

Journey Student Rewards from Capital One

Designed for students with limited credit history, this card offers cashback rewards on purchases. It also incentivizes responsible credit behaviour with a higher cashback rate for on-time payments. It is yet another one of the best credit cards for starting credit.

Key Features: Cashback rewards, higher cashback rate for on-time payments, no annual fee, and access to a higher credit line after making the first five monthly payments on time.

Chase Freedom Student Credit Card

This card is tailored for college students with limited credit history. It offers cashback rewards on purchases, a credit limit increase after making the first five monthly payments on time, and access to Chase’s Ultimate Rewards program.

Key Features: Cashback rewards, credit limit increase with responsible use, no annual fee, and access to a variety of redemption options through Chase Ultimate Rewards.

Deserve EDU Mastercard for Students

The Deserve EDU Mastercard is designed for international students and those with limited credit history. It offers cashback rewards on purchases, no annual fee, and access to exclusive benefits.

Key Features: Cashback rewards, no annual fee, access to exclusive benefits such as Amazon Prime Student membership reimbursement, and cell phone protection.

Green Dot Platinum Visa Secured Credit Card

The Green Dot Platinum Visa Secured Credit Card is a straightforward option for individuals looking to build or rebuild credit. It requires a security deposit, reports to all three major credit bureaus, and offers flexibility in choosing the deposit amount.

Key Features: Reports to all three major credit bureaus, no annual fee, and the opportunity to build credit with responsible use.

First Progress Platinum Prestige Mastercard Secured Credit Card

Another credit card starting credit is the First Progress Platinum Prestige Mastercard Secured Credit Card. It is an accessible option for individuals looking to establish or rebuild credit. It requires a security deposit, reports to all three major credit bureaus, and offers a simple application process.

Key Features: Reports to all three major credit bureaus, no credit history or minimum credit score required for approval, and the opportunity to build credit with responsible use.

Merrick Bank Double Your Line Secured Visa Credit Card

The Merrick Bank Double Your Line Secured Visa Credit Card is designed to help individuals build or rebuild credit. It offers the opportunity to double the credit line after the first seven months of responsible use, making it a valuable tool for credit building. This is one of the best credit cards for starting credit.

Key Features: Opportunity to double the credit line, reports to all three major credit bureaus, and a straightforward application process.

Conclusion

In conclusion, starting your credit journey doesn’t have to be daunting at all. Trust me, with the right credit card tailored for beginners, you can begin building your credit history responsibly while enjoying various benefits.

After getting approved for a card, it is important to use your credit card wisely, make payments on time, and keep your credit utilization low to set yourself on the path to a strong credit score.

What do you think about this post? Did we miss out on a worthy credit card for beginners? Please use the comment section to let us know. Also, help us share this post across your social media accounts.

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