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Message
Best Credit Card for mid-20 year old
Posted on 5/20/21 at 9:43 am
Posted on 5/20/21 at 9:43 am
Long story short, it's time for me to finally get a credit card. Any suggestions for someone in their mid-20's?
Need to start building credit, but also want to take advantage of points. I plan on putting the basics on there. Rent, gas, groceries, etc.
TIA
Need to start building credit, but also want to take advantage of points. I plan on putting the basics on there. Rent, gas, groceries, etc.
TIA
This post was edited on 5/20/21 at 9:45 am
23
Posted on 5/20/21 at 10:01 am to atrain5
Discover is always a good one to start out with
Posted on 5/20/21 at 10:05 am to atrain5
I’m a fan of the Sam’s Club credit card. Big time cash back rewards.
Posted on 5/20/21 at 10:22 am to atrain5
If you're looking for just 1 do it all free card, citi double cash is hard to beat with 2% reward rate and fee free.
Also I would highly recommend not putting your rent on a credit card if they charge a fee to do so, most places do. Dont get hit with a 3% fee to make 2% rewards.
Also I would highly recommend not putting your rent on a credit card if they charge a fee to do so, most places do. Dont get hit with a 3% fee to make 2% rewards.
Posted on 5/20/21 at 10:26 am to atrain5
If your main CC transactions are gas and groceries Amex blue is a solid card
Posted on 5/20/21 at 10:29 am to atrain5
quote:
I plan on putting the basics on there. Rent, gas, groceries, etc.
Landlords will let you pay rent with a credit card?
Posted on 5/20/21 at 10:34 am to atrain5
I did a Best Buy credit card when i was 18, good start to build credit they were offering 12 months interest free at the time
Posted on 5/20/21 at 10:45 am to atrain5
The Citi Double Cash is a good all around card if you only want a single card. Costco and Sam's have good cards if you have a membership to either of those. AMEX has cards good for groceries. It depends on what you want.
Posted on 5/21/21 at 8:37 am to atrain5
Posted on 5/21/21 at 9:14 am to atrain5
Depending on your credit profile. Look at ones that are offering a welcome bonus like $200 or $500 when you spend $1000 plus the ones that offer other bonuses too. Stay away from ones with annual fees at first.
Posted on 5/21/21 at 2:26 pm to atrain5
Discover It card or Amex blue cash
Posted on 5/21/21 at 3:54 pm to atrain5
If you have a thin file, you may actually have very limited choices starting out. I was once in your shoes, and I had to get a secured credit card and use it for a while before I could get approved for a card with much better rewards. It seems many companies would rather accept subpar credit scores than thin files.
Posted on 5/21/21 at 4:00 pm to atrain5
quote:The one you have researched based on your own criterion and decided on.
Best Credit Card for mid-20 year old
For me, it would be a card which provides great incentives to use and run up the tab, while I never ever would carry a balance.
Posted on 5/22/21 at 1:15 am to atrain5
Check out the Chase Sapphire Preferred. Visa is a good all around choice and is accepted pretty much everywhere. I got this one to use internationally and it was an added bonus to have when Costco stopped taking Amex.
Posted on 5/22/21 at 4:46 am to atrain5
If you’re a prime customer, Amazon offers a great one with 5% cashback on all Amazon purchases, like 2-3% on other purchases. This was years ago, not sure if the offer still applies
Posted on 5/22/21 at 11:15 am to atrain5
If your landlord will let you pay with an Amex, I would HIGHLY recommend going that route. You will easily earn the point/spend bonus’s with monthly rent payments.
I think just depends on if you want points, miles, or cash back. I personally think Amex is by far the best company to build credit with.
I think just depends on if you want points, miles, or cash back. I personally think Amex is by far the best company to build credit with.
Posted on 5/22/21 at 11:32 am to atrain5
Screw Citi. I just switch from a Double Cash card to a Fidelity Rewards. no fee, 2% cash back.
Posted on 5/22/21 at 2:13 pm to atrain5
Discover is an easy to use beginner card with 2x cashback your first year. I'd recommend the Chase Sapphire which has an all time-high sign up bonus now and if you'll be able to have a large amount of spend through rent you'll be traveling free for a long time. Great earning rate and easy to use points system for travel or statement credits, but the promo sign up bonus will be ending any day now. Chase Freedom is a great no annual fee option as well if the annual fee scares you (even though the signup bonus is 10x the value of the fee). Amex is good overall, but I find it's too difficult to redeem points for good value for beginners.
Posted on 5/22/21 at 3:21 pm to atrain5
one thing you should also do when starting off with credit is try to open multiple cards that you plan on just holding onto indefinitely so you can start building some aging in your credit profile. You dont have to use them besides like once every 4 months ago to keep them from shutting it down for inactivity.
Lets say you only get one card and 5 years later you get another card... your average age of accounts will plummet to 2.5 years which could have a noticeable impact on your credit score.
But lets say you got 5 cards and 5 years later you get a 6th... your average age drops to only 4.16 years.
Lets say you only get one card and 5 years later you get another card... your average age of accounts will plummet to 2.5 years which could have a noticeable impact on your credit score.
But lets say you got 5 cards and 5 years later you get a 6th... your average age drops to only 4.16 years.
Posted on 5/22/21 at 3:50 pm to atrain5
Discover is a good starter suggestion.
The Sam's Club Mastercard is a solid recommendation for the percentage back on gas and food.
For a long term general incentive to save and flat 2% back on everything? I am a believer in the Fidelity Rewards Card. You can pair that with your first investment account. I dunno if a starter with unclear credit could get the Fidelity card but it would be worth investigating.
The Sam's Club Mastercard is a solid recommendation for the percentage back on gas and food.
For a long term general incentive to save and flat 2% back on everything? I am a believer in the Fidelity Rewards Card. You can pair that with your first investment account. I dunno if a starter with unclear credit could get the Fidelity card but it would be worth investigating.
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