Applying for your first credit card can feel like a big step into adulthood, especially when you're 18 and just starting to build your credit history. Finding the best first credit card for your needs can be a challenge with so many options available. In this Flik Eco blog post, we'll be sharing our top picks for the best first credit cards for 18 year olds, offering a mix of rewards, cashback, and low-interest rates. Let's dive into the world of credit and make the process of credit card selection as smooth as possible!
Best First Credit Cards For 18 Year Olds Table of Contents
1. Discover It Student Cash Back
2. Journey Student Rewards from Capital One
1. Discover It Student Cash Back
If you're in college or about to be, the Discover It Student Cash Back card could be the perfect first credit card for you. This card offers an incredible cashback program, allowing you to earn 5% cashback in rotating categories (up to a quarterly maximum) and 1% cashback on all other purchases.
Key Features:
- No annual fee
- 0% intro APR for 6 months on purchases
- Free FICO Credit Score access
- Good Grades Reward: Get a $20 statement credit each school year if your GPA is 3.0 or higher
2. Journey Student Rewards from Capital One
Yet another card tailored towards students, the Journey Student Rewards card from Capital One is great for those who want to build their credit history and enjoy cashback rewards. This card offers 1% cashback on all purchases, and when you pay on time, you'll get an additional 0.25% cashback for that month.
Key Features:
- No annual fee
- Flexible payment options, including choosing your due date
- Free access to your credit score
- Automatic credit line increase after making your first six monthly payments on-time
3. Capital One QuicksilverOne Cash Rewards Credit Card
If you have limited or average credit but still wish to earn rewards, the Capital One QuicksilverOne Cash Rewards Credit Card might be the right fit for you. This card offers flat 1.5% cash back on all purchases, every day, making it simple to earn rewards.
Key Features:
- $39 annual fee
- Access to a higher credit limit after making the first five monthly payments on time
- Free access to your credit score
- Fraud coverage and account alerts
4. Secured Mastercard from Capital One
If you're looking to build credit from scratch or repair your existing credit, consider the Secured Mastercard from Capital One. This card allows you to put down a refundable security deposit as collateral, ranging from $49 to $200, and your initial credit limit will be equal to your deposit.
Key Features:
- No annual fee
- Automatic credit line review after 6 months
- Free access to your credit score
- Accepted at millions of locations worldwide
Best First Credit Cards For 18 Year Olds Example:
Imagine you're an 18 year old college student who wants to start building good credit habits early. You decide to apply for the Discover It Student Cash Back card. Here's how you could benefit from using this card:
- Throughout your freshman year, you use the card responsibly, paying your balance in full each month to avoid interest charges.
- You earn 5% cashback on purchases from Amazon and Target during the holiday season and 1% cashback on all other purchases.
- By maintaining a GPA of 3.0 or higher, you receive the Good Grades Reward, which rewards you with a $20 statement credit.
- After 6 months, you're able to check your credit score and see it steadily improving.
Applying for your first credit card at 18 can be an exciting rite of passage and can set you on the right path towards building financial stability. By choosing one of these top first credit cards for 18 year olds, you'll be well on your way to understanding and managing credit wisely. Don't forget always to use credit responsibly and make payments on time, as your good habits today will lay the foundation for your financial success tomorrow.
If you found this guide helpful, feel free to explore other articles on Flik Eco to further your personal finance knowledge. Don't forget to share this post on social media to help guide and assist your friends in their credit card selection journey!
