6 Best Credit Card for First-Time Users

6 Best credit card for first-time users

Here is a list of top best 6 credit cards for those using a credit card for the first time.  There is a variety of options from rewards credit cards to 0% interest credit cards and even a credit card that doesn’t require a credit check. The interest rate and fees are the most important features for picking the best first credit card. 6 Best Credit Card for First-Time Users

Best for Overall: Discover it

This card is probably the best credit card for people using cards for the first time. You will be able to earn 5% cash prizes according to the rotation category. You will have 0% APR on purchases and balance transfers in the first 14 months, since this is your first credit you definitely don’t have any transfer balance.  You can earn 5% of the amount up to $1,500 for purchases in quarterly terms. All other purchases will earn 1% cash back. Each of your monthly account statements will contain your FICO score, which is a great advantage to see how to build a good credit score with your first credit card.

Minimum Credit Required: Good

Annual Fee: None

Intro APR: 0% on balance transfers and purchases

Ongoing APR: 14.24% to 25.24% variable

Balance Transfer Fee: 3% of the transfer amount that posts to your account, 5% afterward

Cash Advance Fee: $10 or 5% of the cash advance

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

Best cards for Sign up Bonus: Chase Freedom

This card offers a $150 sign-up bonus after spending $500 on purchases in the first three months of opening your account. Chase only pays a registration bonus to cardholders who have not received a bonus in the last 24 months, a restriction that you will not have to worry about your first credit card. Recover 5% of your money in up to $ 1,500 in shopping terms that run every quarter. You will receive 1% cash back for all other purchase. Also, you will enjoy the initial APR of 0% for purchases in the first 15 months.

Minimum Credit Required: Good

Annual Fee: None

Intro APR: 0% on purchases and balance transfers

Ongoing APR: 17.24% to 25.99% variable

Balance Transfer Fee: $5 or 3% of the transfer amount

Cash Advance Fee: $10 or 5% of the cash advance amount

Foreign Purchase Transaction Fee: 3% of the amount

Signup Bonus: $150 bonus after you spend $500 in the first three months

Best for Flat-Rate Rewards: Capital One QuicksilverOne

The Capital One QuickSilverOne credit card keeps it simply by paying a flat 1.5% cash back on all your purchases. This is if you don’t want to keep up with rotating categories and you think you might forget to register or activate for the bonus rewards. Your rewards never expire and you can redeem your rewards at any time. Just be responsible with your first credit card,  it is important for building your credit. Capital One will reward you for paying on time by considering you for a credit limit increase if you make your first five monthly payments on time.

6 Best Credit Card for First-Time Users

You have to spend at least $2,600 annually to earn enough rewards to offset the fee.

Minimum Credit Required: Average

Annual Fee: $39

Intro APR: None

Ongoing APR: 26.96% variable

Balance Transfer Fee: None

Cash Advance Fee: $10 or 3% of the cash advance amount

Foreign Purchase Transaction Fee: None

Signup Bonus: None offered

Best for Fair Credit: Capital One Secured | Best credit card for first timers users.

This card gives you a chance to obtain a credit card if a previous late loan payment or debt collection is making it harder for you to get approved. Using this card, you may be able to make a minimum security deposit of $49, $99 or $200 for a $200 credit limit, depending on your creditworthiness. You can have access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed.

Minimum Credit Required: Poor

Annual Fee: $0

Intro APR: None offered

Ongoing APR: 26.99% variable

Balance Transfer Fee: N/A

Cash Advance Fee: N/A

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

Best Rewards for Fair Credit: Discover it Secured

The Discover it secured credit card allows you to secure your credit limit with a security deposit but also pays rewards on your purchases. Earn 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter. All other purchases will earn 1% cash back. You can redeem your rewards at any time for any amount.

Minimum Credit Required: Poor

Annual Fee: $0

Intro APR: 10.99%  from the date of transfer

Ongoing APR: 25.24% variable

Balance Transfer Fee: 3% of the transfer amount that posts to your account and 5% of the transfer amount after that.

Cash Advance Fee: $10 or 5% of the cash advance amount

Foreign Purchase Transaction Fee: None

Signup bonus: None offered

Best credit card for first timers users

Best card for no Credit: OpenSky Secured Visa Card | Best credit card for first timers users.

The OpenSky Secured Visa doesn’t require a credit check at all, which means you’re sure of approval which when granted, you need to make a minimum $200 security deposit. This is a good option if you’ve previously filed. Your responsible use of the credit card will help you build your credit history and qualify for an unsecured credit card.

Minimum Credit Required: None

Annual Fee: $35

Intro APR: None offered

Ongoing APR: 19.64%

Balance Transfer Fee: N/A

Cash Advance Fee: $6 or 5% of the cash advance amount

Foreign Purchase Transaction Fee: 3% of the amount

Signup bonus: None offered

 

 

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