Graduating from college opens up an array of new opportunities. While some new obligations come with them, such as paying for all your living costs and facing repayments on student loans, that’s not so fun. In terms of your finances, taking the reins will provide you with a new sense of satisfaction as well as something to aspire for. The universe seems like it is at your hands when you graduate, particularly if you have a new job and have begun to get frequent paychecks.
If you begin to display signs that you are financially on your feet, such as monthly income or passing a new rental background check, in an attempt to get your business, credit card firms will note and potentially begin flocking to you with alluring deals.
Unfortunately, not all credit cards are directed at college graduates, and if you don’t have any credit background at all, you will need a secured credit card. We outlined the best choices for college graduates who are in the middle of their path to better credit, to help you hunt for a new credit card.
Capital One QuicksilverONE Cash Rewards Credit Card
With just average or decent credit, the Capital One QuicksilverOne Cash Rewards Credit Card is perfect for recent college graduates. This usually means any FICO score of 580 or higher, but there is a greater chance of acceptance for customers with scores of 670 or higher. Although this card costs a $39 monthly fee, for each dollar you spend, you’ll get a flat 1.5 percent back. When you start racking up rewards, whatever number you choose, you can swap your cash back for statement credits. For college graduates with only ‘okay’ credit who want to receive incentives when focusing on creating a good credit profile that lasts, the Capital One QuicksilverOne Cash Rewards Credit Card is best.
Amex Everyday Card from American Express
If you have some high-interest debt that you want to consolidate, if you think you can get accepted, the Amex Everyday Card from American Express is worth considering. This card is open to decent or outstanding credit customers, yet it comes with one of the best APR introductory deals available today on the market. You will earn 10,000 valuable Membership Rewards points to start things off when you spend $1,000 on your card within three months of opening an account. This card is perfect for college graduates who have a high-interest credit card debt to consolidate or those who wish to collect points to pay off a major purchase without any interest over time, with all the benefits in mind.
Capital One Savorone Cash Rewards Credit Card
To get approved, the Capital One SavorOne Cash Rewards Credit Card recommends nice to exceptional credit, but you will be able to receive an exemplary rate of rewards and have access to some pretty decent card benefits. When you spend $500 on your card within three months of account opening, you will still have the opportunity to receive $150, which is very standard for cash-back credit cards with no annual charge. You will not only be able to continue building up your credit score but for a limited period on transactions, you will qualify for zero interest. Specifically, for 15 months, you will get 0 percent APR on purchases, followed by a 15.49 percent to 25.49 percent variable APR. This card does not incur any fees on foreign transactions and you can exchange your points in any amount you choose for cashback.
The Discover It Secured Credit Card
You will have to get started with a secured credit card if you have a very limited or non-existent credit background. Secured cards require an initial cash deposit to open a line of credit, unlike unsecured cards. For eg, if you make a cash deposit of $500 upfront, you will usually get the same amount of access to a line of credit. The Discover it ® Secured Credit Card is an impressive secured card option since it does not charge an annual fee, unlike other competing cards. You will also receive discounts for your spending, and in what can be seen as a “delayed” signup bonus, Discover will balance all your incentives at the end of your first year.
Chase Freedom Unlimited
The Chase Freedom Unlimited card is perfect for college students as it starts off with no annual charges. This is especially great for the ones who already work with a tight budget. New cardholders will receive 5 percent cash back on grocery store transactions for up to $12,000 purchased in the first year, not counting Target(R) or Walmart(R) purchases, for a limited period. You will also get 5% cashback on travel bought from Chase, 3% on transactions from restaurants and drug stores, and 1.5% cashback on all other purchases. After investing $500 on purchases in the first 3 months of the account opening, you can still earn a $200 bonus.
Chase Freedom Flex
Here’s a decent first credit card all-around with an unlimited 1% cashback. You will also receive 5% cashback on travel bought through Chase, 3% on transactions from restaurants and drug stores, and 5% per quarter in selected rotating categories. New cardholders can receive 5% cash back on grocery store transactions of up to $12,000 purchased in the first year for a limited period. This would make a perfect credit card for a recent college graduate, and if you have a major move coming for a modest amount of debt leftover from college that you want to pay off interest-free, it would be particularly good for you. This card also comes with no annual fees.
Citi Double Cash Card
As a new graduate, it is possible that any bonus cashback on your spending will come in handy. You will receive 2 percent cash back for any order with the Citi ® Double Cash Card-unlimited 1 percent cashback while you buy + an extra 1 percent when you pay for those transactions. Currently, there is also a balance transfer offer: 0 percent intro APR on balance transactions for 18 months, beginning from the date of the first transfer; the regular rate APR applies additionally on transactions of 13.99 percent to 23.99 percent. Balance Transfers must be completed within 4 months after an account has been opened. There are multiple benefits and bonuses on all orders, such as unrestricted 1% cashback + an extra 1% after you pay the bill, 0 percent intro APR on balance transactions done in the first 4 months.
Chase Sapphire Preferred Card
When you know you’ll be traveling for your new career, consider obtaining a travel bonus credit card that gives you some trip cancellation protections and even puts money back in your wallet anytime you go out to eat. In the first 3 months, this specific deal offers you the chance to win up to $750 in travel incentives. It is safer to ask for new luggage as a graduation gift if you sign up for this card. This card also comes bundled with travel coverage such as on-call emergency assistance services, $10,000 travel cancellation insurance in the case of adverse weather or illness, luggage delay insurance to cover the basics when the baggage is delayed, and both in the U.S. and overseas main car rental insurance. You also get some perks when shopping, along with travel security! With this card, the big shopping transactions are protected for additional fraud and injury insurance up to $10,000 per incident and $50,000 per year. The only downsight with all these perks is that the card incurs an annual charge of $95.
Costco Anywhere Vista Card By Citi
In the United States, Costco is one of the most famous wholesale clubs. It’s a shop often visited regularly by many Americans, which is what makes Citi’s The Costco Anywhere Visa® Card so important. It’s full of cashback, but without the monthly charge on all sorts of rewards that other cards bring. 4% on eligible gas purchases, including gas at Costco for the first $7,000 yearly, 3% on restaurants and eligible travel purchases, 2% on Costco and Costco.com while you shop, and 1% for everything else. The only catch is that you need to be a part of Costco, but these start at $69 and are one of the cheapest places to save money on daily things.