Congratulations on graduating college! Embarking on this new chapter of life, it's important for you to make smart financial decisions. One crucial step you can take is choosing the perfect credit card to suit your needs and help you build a healthy credit history. With a wide range of credit card options available, it can be challenging to determine which ones provide the best benefits for recent college grads like yourself. Fret not! In this Flik Eco guide, we'll explore the best credit cards tailored for new college grads, their unique features, and the reasons why you should consider them. Let's dive in!
Best Credit Cards For New College Grads Table of Contents
1. Discover it® Student Cash Back
1. Discover it® Student Cash Back
Why choose it?
- Designed specifically for students and those new to credit
- Cashback rewards on categories that matter to young adults
- No annual fee
Key Features:
- 5% cash back on everyday purchases in categories like grocery stores, restaurants, gas stations, and select online purchases
- 1% cash back on all other purchases
- Discover matches all the cash back you've earned at the end of your first year
- Good Grades Reward: Receive a $20 statement credit each school year for a GPA of 3.0 or higher
- Free FICO® Credit Score access
2. Capital One QuicksilverOne Cash Rewards Credit Card
Why choose it?
- Ideal for new grads with average credit
- No complex reward structures
- Unlimited cash back on all purchases
- Annual fee of $39, but increases credit limit after five on-time payments
Key Features:
- 1.5% cash back on all purchases
- Flexible reward redemption options
- 0% intro APR on purchases for the first 9 months
- Access to a higher credit line after five on-time monthly payments
3. Chase Freedom Unlimited®
Why choose it?
- Great for building a credit history with responsible usage
- No annual fee
- Earn cash back on every purchase
- Sign-up bonus
Key Features:
- 1.5% cash back on all purchases
- Earn a $200 cash back bonus after spending $500 on purchases in the first 3 months
- 5% cash back on travel purchased through Chase Ultimate Rewards®
- 3% cash back on dining and drugstore purchases
- 0% intro APR on purchases for the first 15 months
Best Credit Cards For New College Grads Example:
Jane, a recent college grad, is starting her first full-time job. She wants a credit card that will help her build her credit history while rewarding her for everyday purchases. After comparing various options, she decides to apply for the Chase Freedom Unlimited® Credit Card. She has a good credit score, and this card offers a wide range of benefits without charging an annual fee.
After spending $500 within the first 3 months, Jane earns a $200 cash back bonus. She uses the card for her daily purchases such as groceries, gas, and dining out. Jane benefits from the 1.5% cash back on all her purchases, along with 0% intro APR for the first 15 months. By being responsible with her credit usage and payment habits, she is building a strong credit history, which is essential for her financial success.
As a new college grad stepping into the world of personal finance, choosing the right credit card is essential in building a strong credit profile. By considering your credit history, financial goals, and spending habits, you can find the perfect card that caters to your needs. We hope this Flik Eco guide has helped you in shortlisting the best credit cards tailored for recent college grads. Don't forget to share this article with your fellow grads to help them navigate the world of credit cards, and explore the other informative guides we have to offer on Flik Eco!
