Tuesday, April 23, 2024
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Best First Credit Card for Young Adults

Best First Credit Card for Young Adults

A credit card makes up a necessity for everyone- we would say. It is not that only adults can own credit cards at present, but young adults do have the right to own them. 

We all know the fact that credit cards are becoming quite popular among individuals. Even if there is not much of its necessity, it has to be in pocket. We can say that some are in genuine need and some are in show off. But what we can see is that 90% of people own a credit card.

Mainly this is increasing among young adults who all have different spending and needs we would say. However, there is a requirement added to this and this is they wanted to use with different perks added to it.

Young adults often look to adopt credit cards that have no fees or less. They are not at all interested in spending too much on their annual fees and this is where they search for the best first credit card for young adults.

Usually, young adults do not have a wide requirement but rather than spend upon 

  • Their foods
  • Entertainment purpose
  • Bills, groceries and other shopping.

Some are likely to find a credit card the most suitable because it gives the period to repay the bill. This is the time when you can shop first and pay later (a grace period of 30 days and even more).

So, therefore, these young adults tend to find the best-suited credit card to accommodate all of their requirements.

Adopt the best credit card & build a great credit history

If you are seeking the best credit card for you then we will here help you to get the one. since, in growing age there are not many requirements to spend money, but still requires to own cards – be it a credit or debit.

Presently, young adults are more prone to keep all types of cards and to manage their spends. Also with credit cards, it is one of the best approaches to make use of it and build a good credit history.

This in future, lets you undertake many other benefits by looking at your credit history.

So, if you are ready to build a good credit history then we have compiled a complete list of the best first credit cards for young adults.

All of these cards have different benefits added within them and offer generous rewards we would say. They let you manage all of your expenses on time and also help to build a good credit score.

1. Discover it® Cash Back

Discover it® Cash Back is on the top list of best first credit cards for young adults. For young people who do not initially have many expenses, Discover it® Cash Back can accommodate all of their requirements.

Some major highlights

There is an unlimited cashback offer from Discover it® Cash Back. This means it will automatically help cardholders earn the rewards after the year passes.

Young adults do not have to be worried about any minimum spending. This means the rewards which are obtained turn out to be in cash. For example, $150 can be directly converted into $300.

On everyday purchases, 5% cashback facilities are obtained at different places. These are mainly Amazon, gas stations, groceries and even more (up to quarterly when the card gets activated).

On the other hand 1% cashback on other purchases made. This gives you $1 spending directly $1 earn.

There are no annual fees applicable to Discover it® Cash Back.

  • Foreign transaction fee- None
  • Balance transfer fee– 3% intro balance transfer fee, up to 5% fee on future balance transfer.
  1. Chase Freedom Unlimited®

Chase Freedom Unlimited® has unlimited features packed within it. It is one of the best suited for young adults to earn rewards points and cashback facilities.

Some major highlights

This type of credit card lets young adults enjoy 5% cashback on every purchase made and get up to $300 cashback facility in the first year.

If you are a frequent traveller then you have the facility to earn 6.5% cashback through Chase Freedom Unlimited®. It has its premium rewards points, facilities on travel, gift cards and more.

In the first year if you have spent $20,000 then 5% cashback can be enjoyed. This is majorly impactful for young adults to save money on every purchase made.

There are no minimum rewards required to earn cashback. So, as long as your account is open you can redeem them anytime you want to.

Cardholders can enjoy 0% APR directly for 15 months from account opening on purchases made.

There is no annual fee required to be paid, this attracts more to all young adults.

Chase Freedom Unlimited® also helps to keep holders to remain up to date about your credit health, real-time updates and more.

  • Penalty APR – Up to 29.99%
  • Balance Transfer Fee – Either $5 or 5%
  • Foreign Transaction Fee- 3% of each transaction made

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3. Discover it® Student Cash Back

One of the other best first credit cards for young adults could be Discover it® Student Cash Back. It comes with flash rate cashback rewards and has become the top choice among young adults. However, if you are one of those planning to issue a credit card then this can work best for you.

Some major highlights

Once your continuous use Discover it® Student Cash Back then it collects all of your

rewards points. With many credit cards either the rewards point lapse or have

to get products within the shop. But with Discover it® Student Cash Back, your

rewards points go nowhere. 

Cardholders will have the facility to turn $50 into $100.

In addition, it does serve 5% cashback on every purchase you make which mainly includes your online shopping, gas filling and even others. Easily earn 1% cashback on the purchases.

There is no credit score required to issue the Discover it® Student Cash Back credit card.

Further upon using Discover it® Student Cash Back, you will have the utmost security. This means none of your data will get stored online for further use by other people. It is free and can be easily activated with the help of its mobile app. In this manner, cardholders will have complete control of their card.

Discover it® Student Cash Back does not require any credit score.

There is a 0% APR on purchases (for about 6 months).

Easily applied online and accommodates all needs of young adults.

  • Cash Advance Fee- Either $10 or 5% 
  • Balance Transfer Fee 3% intro balance transfer fee

4. Discover it® Student Chrome

This type of credit card comes with a wide range of advantages packed within it. More and more young adults are holding Discover it® Student Chrome as it is the best and most suited one.

Some major highlights

Discover it® Student Chrome is accepted nationwide in 99% of the places. It also gives different choices of design at the time of application. So, it is easy to get one of your likenesses.

Easily earn a 2% cashback bonus at gas stations and restaurants on up to $1000 spent.

1% cashback on all other purchases means at school and other places.

It gives the flexibility of unmatched dollar for dollar of the cashback you have earned at the end of the year.

No credit score is required for you to apply for Discover it® Student Chrome

Helps to reduce the exposure of your personal information. This means none of your data gets saved to the devices and helps in reducing the chances of fraud.

  • Cash advance fee- either 10 or 5% of each cash advance
  • Balance transfer fee 3% 

5. Discover it® Chrome

Discover it® Chrome is one of the credit cards that is for students/young adults. It helps them to undertake tons of rewards and facilities on every purchase. 

Some major highlights

Automatically matches all of your reward points and lets you undertake its benefits at the end of the year.

One of the best credit cards that lets all travellers enjoy hefty benefits. 2% cash back on all gas stations and restaurants (on up to $1000 combined purchased every quarter). Besides this, it automatically gives 1% cashback on other purchases.

Earn 1 reward points and get it converted to $1.

Young adults who wish to get Discover it® Chrome will not have to pay any annual charges.

  • Foreign transaction fee- None
  • Balance transfer fee- 3% intro balance transfer fee.

6. Blue Cash Everyday® Card from American Express

To the list of top credit cards for young adults, how can we miss out on not mentioning the Blue Cash Everyday® Card from American Express? No doubt American Express has many cards and this is one of those.

Some major highlights

No annual fee is required to apply for the Blue Cash Everyday® Card.

Cardholders can earn $200 on a spend of $2000 (within the 6 months).

The balance transfer is back within the Blue Cash Everyday® Card.

On supermarket purchases (U.S) earn 3% cash back per year (on up to $6000).

Additionally, 3% cashback on gas stations, restaurants and more.

Eligible subscription on The Disney Bundle Hulu+ ESPN and more.

  • Intro bonus- $200
  • Balance transfer fee– 5 or 3% on each transfer

7. Discover it® Secured Credit Card

Discover it® Secured Credit Card makes a secured purchase and is also one of the credit cards for young adults. For students seeking to own credit cards, it is one of the major choices.

Some major highlights

To apply Discover it® Secured Credit Card there is no credit score required. Additionally, there is no annual fee required.

Get an alert if we find the social security number on any illegal website.

Discover it® Secured Credit Card also helps to reduce the exposure of personal information. This prevents the data from being stolen.

Has got top reviews with the continuous usage of Discover it® Secured Credit Card.

  • Credit score- rebuilding/new credit
  • Foreign transaction fee- None

8. Citi Custom Cash® Card 

Requires fair to excellent credit score to apply Citi Custom Cash® Card. It also automatically adjusts the spending on every purchase made.

Some major highlights

Earn $200 cashback on the spend of $1000 in the first 6 months of opening.

No annual fees required

Earn 5% cashback on the purchase’s likely restaurants, gas stations, groceries and 1% on other transactions.

The card is simple to use and also in the hands of many young adults and with no rotating categories.

Automatically receive a match of all cash back earned in the first year. This way half of the spending covers with the cashback facility or rewards we can say.

  • Foreign transaction fees- 3%
  • Cash advance fee– 5% of each cash advance
Summary 

Young adults are more keep to keep credit cards- whether of use or not. Likely if one has one in their group then the other should own the one as well. This is quite a similar practice among people of all ages. However, when it comes to credit cards it is for sure a necessity right from big to small transactions (as it delivers an ease of billing).

You no longer have to wait to get your salary credited but shop when you want and pay later. Besides this when compared to a debit card, a credit card comes with tons of features which are usually in the form of strong cashback facilities.

In this category young adults are looking to get one card that can help them as well. To this, we have compiled the best first credit cards for young adults and let them undertake tremendous benefits.

Look at them all above and read out their features to choose the one suitable. They all come with no annual fees and have the facility to turn your spending into rewards which can be later converted into cash.

So, do not wait to hold the one of your choice and get started to undertake many benefits.

 

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