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Credit Card recommendations for 25 year old
Posted on 9/26/19 at 3:16 pm
Posted on 9/26/19 at 3:16 pm
My gf's youngest daughter is 25 and wants to get a credit card to bill everything on and then pay it off. Right now she is saving to pay off her student loans, which should be paid off in 8 months. She will also be doing a 457 plan. She lives at home, her car, which is only 4 years old, is paid off. So want to help her out. She has great credit, so upper 700's. She has one credit card now but no rewards or benefits with it and only has a $500 limit.
Looking for advice with cards that offer cash back rewards and also no fees per year. Willing to look at cards with fees as well. She banks with Hancock Whitney.
Thanks in advance
Looking for advice with cards that offer cash back rewards and also no fees per year. Willing to look at cards with fees as well. She banks with Hancock Whitney.
Thanks in advance
8
Posted on 9/26/19 at 3:21 pm to Weaver
I know you want to help, but if she's 25 with some college and a job, she should be capable of doing this research herself. If she's old enough to responsibly manage her credit, she's old enough not to have to rely on Mom/Dad to tell her which card to select.
If she's extremely lacking in financial savvy, then tell her you'll help her review the CC offers that she finds and explain why you see them as good or bad deals. But this is something she should "own", from start to finish.
A 25 year old is not a child, by a long shot. Time to cut those apron strings....
ETA: point her in the direction of CC comparison sites like NerdWallet or WalletHub. Show her where to go to find out her credit score. But then back off....
If she's extremely lacking in financial savvy, then tell her you'll help her review the CC offers that she finds and explain why you see them as good or bad deals. But this is something she should "own", from start to finish.
A 25 year old is not a child, by a long shot. Time to cut those apron strings....
ETA: point her in the direction of CC comparison sites like NerdWallet or WalletHub. Show her where to go to find out her credit score. But then back off....
This post was edited on 9/26/19 at 3:22 pm
Posted on 9/26/19 at 3:33 pm to hungryone
quote:
I know you want to help, but if she's 25 with some college and a job, she should be capable of doing this research herself. If she's old enough to responsibly manage her credit, she's old enough not to have to rely on Mom/Dad to tell her which card to select.
If she's extremely lacking in financial savvy, then tell her you'll help her review the CC offers that she finds and explain why you see them as good or bad deals. But this is something she should "own", from start to finish.
A 25 year old is not a child, by a long shot. Time to cut those apron strings....
ETA: point her in the direction of CC comparison sites like NerdWallet or WalletHub. Show her where to go to find out her credit score. But then back off....
Well to be honest I don't even know where to start. I have a Rapids Rewards card thru Chase Bank that I get points for SW airlines, but I bank with Chase Bank so I was aware of that. They have lived sheltered lives so just trying to help. I will check out NerdWallet and WalletHub. She already gets her credit score thru Experian.
Thanks
Posted on 9/26/19 at 4:00 pm to Weaver
Get a discover card. They do a 100% match of all your cash back for the first year.
Posted on 9/26/19 at 4:13 pm to GEAUXT
quote:
Get a discover card. They do a 100% match of all your cash back for the first year.
Noticed that. The IT card.
Posted on 9/26/19 at 6:43 pm to hungryone
quote:This. Compare the options and apply for the card that is the best for her situation. The cards are divided by category.
ETA: point her in the direction of CC comparison sites like NerdWallet or WalletHub. Show her where to go to find out her credit score. But then back off
Posted on 9/26/19 at 7:03 pm to Weaver
Get one that gives a lot of points. Otherwise she's better off just paying her bills with checks.
Posted on 9/26/19 at 7:06 pm to GEAUXT
quote:
Get a discover card. They do a 100% match of all your cash back for the first year.
I’ll agree with this. No annual fee so it’s good to have .
I have one and I like it. Got $400 cash back that first year was pretty great
Good starter card for sure . I got one when I was 25 and just out of pharmacy school.
This post was edited on 9/26/19 at 7:08 pm
Posted on 9/27/19 at 8:19 am to saderade
quote:
This. Compare the options and apply for the card that is the best for her situation. The cards are divided by category.
Cash back would be best for her. She doesn't do a lot of shopping or traveling or have a real want to do that now.
Posted on 9/27/19 at 9:35 am to Weaver
check out the Citi Double Cash card
Posted on 9/27/19 at 2:50 pm to Weaver
Discover. I used it through college to pay for my textbooks at beginning of each semester and then had it paid off by end of semester from part time job. I think the limit started out at $1500. No issues with it and customer service has been amazing any time I needed to call.
Posted on 9/27/19 at 3:17 pm to Weaver
AmEx Blue Cash Preferred - $95 annual fee but 6% cash back at grocery and 3% back at gas stations. 1% on everything else
Citi Double Cash - no fee and 2% cash back on everything -
Citi Double Cash - no fee and 2% cash back on everything -
Posted on 9/28/19 at 12:24 pm to Weaver
quote:
She has one credit card now but no rewards or benefits with it and only has a $500 limit.
Damn I hate this first card. Still stuck with mine, paying $7/month because it's the oldest thing on my credit report. So annoying.
Like others said, Discover is solid. Especially with their first yr deal. Not sure their APR ranges, but mine is in the 17range. Which I thought was bad until a family member told that their new cool metal AppleCC was in the 24-27 range. Discover is also does the credit score, and ss# alerts. Which is nice to help keep tabs on stuff, but not to totally depend on obviously.
Posted on 11/25/19 at 3:11 pm to KANDUUU
She applied for the Discover IT card. Thanks for all of the assistance.
Posted on 11/25/19 at 9:41 pm to Weaver
good choice...
like I said... it's no fee so it's a good card to keep on hand in case of emergency or something.
make sure she signs up for the quarterly 5% cash back sections. ( For example.. this quarter is Amazon/Target.com/Walmart.com) with the holidays coming up.. she could get some easy cash back.
also their customer service, to me anyways, has been fantastic..
had my card number hacked twice.. in the last 2 years... called and reported the charges.... they shut the card down, overnighted me a new card.
and yes I use the credit score checker every now and then and I like to look at the SPendAnalyzer... basically a pie chart breaking down all purchases and categorizing them
hope she likes it.
like I said... it's no fee so it's a good card to keep on hand in case of emergency or something.
make sure she signs up for the quarterly 5% cash back sections. ( For example.. this quarter is Amazon/Target.com/Walmart.com) with the holidays coming up.. she could get some easy cash back.
also their customer service, to me anyways, has been fantastic..
had my card number hacked twice.. in the last 2 years... called and reported the charges.... they shut the card down, overnighted me a new card.
and yes I use the credit score checker every now and then and I like to look at the SPendAnalyzer... basically a pie chart breaking down all purchases and categorizing them
hope she likes it.
This post was edited on 11/25/19 at 9:46 pm
Posted on 11/26/19 at 6:24 am to Weaver
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