Selecting the best credit card for beginners can be confusing. A large number of credit cards are available with varied features and advantages. Also, having no credit history, getting a credit card can be tricky. However, there are still options available such as a student credit card. Or a secured credit card is a worthy option for beginners.
So, it is crucial to pick a suitable credit card to establish a secure financial future and build an outstanding credit score.
Scroll on, and explore some of the best credit cards for newbies, according to varied preferences and needs.
Discover it® Secured
The card is at the top of the list for the right reasons. Discover it® Secured is the best credit card for beginners when one does not have a credit history. Also, for this secured credit card, the rate is comparatively lenient than other cards. Another benefit of the Discover it® Secured credit card is that it has no annual fee. Though it has a relatively low maximum credit limit, it allows worthy cashback rewards. It is the preferable credit card to opt for when you are searching for low-interest rates as well as no deposit.
- There are no late fee charges on the first late payment, which is a relief for beginners.
- The transition to an unsecured card is easy and hassle-free as it is automatic.
- The lack of no charges on foreign transaction fees is a benefit of this card.
- The considerably low maximum credit limit.
Capital One Platinum Credit Card
The card qualifies to be on the list because of multiple reasons. Easy to manage and with no annual fees, the Capital One Platinum Credit card is one of the best credit cards for beginners. It allows the advantage of an improved credit line after the first five timely payments. If you are not looking for earning rewards, then this card is a must-have. The quick credit limit increments are also a boost for a beginner. It is the ideal card when you want average credit and building credit without handling a yearly fee.
- Apart from no annual fee, there is no balance transfer fee as well.
- There is no need to put any money at all in the security deposit.
- It allows you to set up alerts to inform when a payment is due or for purchase. That is particularly useful when you are busy. Or need to keep track of your shopping.
- The high APR is a disadvantage.
Opensky® Secured Visa® Credit Card
With no credit check demanded, the Opensky® Secured Visa® Credit Card is suitable for those who cannot obtain credit because of a negative report on the credit report. The card does charge an annual fee, and there is no option to update to an unsecured card later. It doesn’t require a bank account, and that makes it ideal for those without a bank account. It offers other advantages to a beginner, such as a facility to choose a credit limit according to your refundable deposit. There are credit cards available with better facilities for those with a bank account and credit check.
- The card does not demand a bank account and there is no credit check.
- With good credit habits, it allows you to begin building credit.
- The cardholder gets to set the credit limit according to the refundable deposit.
- Along with an annual fee, it requires a minimum deposit of 200$.
Capital One QuicksilverOne Cash Rewards Credit Card
The perfect credit card that offers the most rewards when it comes to credit cards for beginners. It not only provides 1.5% cashback on any purchase but additionally allows the benefit of $0 fraud liability. Moreover, it is ideal to opt for the card when you want a card to collect cashback for daily buying. The credit card has an annual fee of $40, but that is comparatively lower than other cards that charge a fee. With no foreign transaction fee, this card is a sensible choice for those planning to travel abroad.
- With average credit, the card offers better reward rates than other cards.
- Besides, the CreditWise tool is beneficial when it comes to improving the credit score.
- It charges no foreign transaction fee as well.
- It lacks an introductory incentive and also charges an annual fee of $40.
Discover it® Student chrome
The card is ideal for students who are just starting with credit cards. Ranging from the attractive cash rewards program and lack of an annual fee, it is the best credit card for beginners, especially students. The Discover it® Student chrome card is a reliable option for students to develop credit along with earning some cashback.
The presence of user-friendly features makes it a desirable credit card for High-school and University students. The notable features include no over limit fee and no deduction of late fee on first late payment.
- The card has an intro APR period on shopping as well as on balance transfers.
- It does not require a FICO history.
- To top it all, it has bonus cash back categories and no annual fee deductions.
- There are better rewards available with other cards.
Getting the best credit card for a beginner foremost requires learning a little about the rate, cashback, annual fees, and APR.
The best credit cards for beginners promote effective credit card habits with zero or nominal annual fees. The starter credit cards also offer bonuses and low-interest rates. Determining the suitable blend of advantages and perks gets you on the right path when opting for a credit card for the first time. Some allow features such as no foreign transaction fees.
There is no ultimate rule about which one is the best credit card for beginners as they all allow different facilities. What may be suitable for one may not be the facilities that you are seeking.
So, choose wisely and check out the complete list of the best credit cards for beginners before you get one.