Congratulations, you've graduated! Now that you're stepping into the real world, it's time to be smart about your finances. One of the best ways to start building your credit and earning rewards is by getting the right credit card. But with so many options out there, how do you know which one is the best for recent graduates like you? Well, we've got you covered. In this article, we'll break down our top picks for the best credit cards for recent grads and help you make the best choice for your unique needs.
Best Credit Cards For Recent Graduates Table of Contents
Top Credit Cards for Recent Graduates
As a recent graduate, your needs are unique. Along with building credit, you might also want a card that helps you pay off your student loans, offers rewards for your everyday purchases, or provides travel perks. Here are our top four credit card options for recent grads:
1. Discover it® Student Cash Back
- No annual fee
- 5% cash back on rotating categories
- 1% cash back on all other purchases
- Good Grades Reward: $20 statement credit for students with a GPA of 3.0 or higher
- No credit history required
If you're new to credit cards and want to earn cash back on your purchases, Discover it® Student Cash Back is an excellent choice. This card offers cash back rewards in rotating categories such as gas stations, restaurants, and Amazon.com purchases. Plus, if you maintain good grades, you'll earn a statement credit as a bonus.
2. Capital One QuicksilverOne Cash Rewards Credit Card
- $39 annual fee
- 1.5% cash back on all purchases
- Access to a higher credit line after making your first five monthly payments on time
- Designed for limited or average credit
If you have limited or average credit and want a straightforward cash back card, the Capital One QuicksilverOne is a great choice. With a flat 1.5% cash back on all purchases, you don't need to keep track of rotating categories. Plus, it helps you build your credit with access to a higher credit limit after consistent, on-time payments.
3. Chase Freedom Unlimited®
- No annual fee
- 1.5% cash back on all purchases
- $200 bonus after spending $500 in the first three months
- 0% intro APR for 15 months on purchases and balance transfers
The Chase Freedom Unlimited® offers unlimited cash back on all purchases with no annual fee. It also has a generous sign-up bonus and a 0% intro APR for 15 months, making it an excellent choice if you need to pay off any post-graduation expenses.
4. Bank of America® Travel Rewards Credit Card for Students
- No annual fee
- 1.5 points per $1 spent on all purchases
- 25,000 bonus points after spending $1,000 in the first 90 days
- No foreign transaction fees
For the travel-savvy recent graduate, the Bank of America® Travel Rewards Credit Card for Students is an ideal option. You'll earn points on every purchase that can be redeemed for travel rewards, and with no foreign transaction fees, you can use your card internationally without any extra charges.
Best Credit Cards For Recent Graduates Example:
Imagine you're a recent graduate looking to build your credit and earn cash back on everyday purchases. You decide to apply for the Discover it® Student Cash Back card and start earning 5% cash back on rotating categories and 1% on all other purchases. With your consistent $800 monthly spending, you'd be earning $64 in cash back each month when spending in a 5% category and an additional $8 on other purchases. That's a total of $864 in cash back per year!
Choosing the best credit card as a recent graduate can be a daunting task, but with our top picks, you're on your way to building credit and earning rewards in no time. Don't forget to share this article with fellow graduates to help them make the smartest financial moves after graduation. And if you're looking for more personal finance tips and advice for millennials, be sure to explore other guides and articles on Flik Eco. Happy card hunting and welcome to the real world!
