Congratulations! You've graduated and entered a new phase of life – building your career, earning money, and taking on new responsibilities. As a graduate, you'll need the right tools to help you succeed financially, and one such essential tool is having the right credit card. In this article, we’ll help you find the best credit card for graduates and give you the lowdown on what to look for when choosing the perfect card for your needs.
Best Credit Cards For Graduates Table of Contents
Choosing the Right Credit Card
First, let’s look at the factors you need to consider when selecting the best credit card for graduates.
Credit Score
As a recent graduate, it's essential to build and maintain a good credit score. When choosing a credit card, look for one that helps you do just that by reporting payments to all three major credit bureaus.
Interest Rates and Fees
Interest rates can have a significant impact on your finances, so finding a card with reasonable rates and low or no fees is crucial. Consider cards with 0% introductory APR offers, minimal annual fees, and other cost-saving features.
Rewards Programs
As a millennial, you might be interested in cards that offer rewards tailored to your lifestyle and spending habits. Cash back, travel rewards, or points for everyday purchases can all be beneficial, depending on your preferences.
Graduate-Friendly Features
Some credit cards are designed specifically for recent graduates with features such as credit limit increases, personalized financial advice, and payment flexibility.
Top Credit Cards for Graduates
Now that we know what to look for in a credit card let us explore some of the best options for recent graduates.
Discover it® Student Cash Back
- Designed for students and graduates with limited credit history
- Cash back rewards on rotating categories
- Good Grade Reward for maintaining a minimum GPA
- No annual fee
Chase Freedom Unlimited®
- Unlimited cash back on all purchases
- 0% intro APR for 15 months on purchases and balance transfers
- Sign-up bonus with spending threshold
- No annual fee
Capital One QuicksilverOne Cash Rewards Credit Card
- 1.5% cash back on all purchases
- Credit limit increase after five months of on-time payments
- Annual fee of $39
Citi® Double Cash Card
- 2% cash back on all purchases (1% when you buy and 1% when you pay)
- 0% intro APR for 18 months for balance transfers
- No annual fee
Best Credit Cards For Graduates Example:
Meet Jane, a recent college graduate who wants to start building her credit history and save money on everyday expenses. After reviewing her options, Jane decides to apply for the Capital One QuicksilverOne Cash Rewards Credit Card. She likes that the card offers 1.5% cash back on all purchases, credit limit increases, and a manageable $39 annual fee. Over the next year, Jane uses her card responsibly, regularly making on-time payments and keeping her balance low. As a result, her credit score soars, and she's well on her way to a strong financial future.
Selecting the best credit card for graduates can be a daunting task, but armed with the information in this guide, you'll be well-equipped to make an informed decision. Be sure to weigh your options carefully and consider how each card's features align with your financial goals. Once you find the perfect fit, you'll be one step closer to financial success.
Did this article help you narrow down your credit card options? Feel free to share it with friends or explore other Flik Eco guides to continue expanding your financial knowledge. Together, we can forge smart money habits and build a brighter financial future.
