First Credit Card Recommendation

[zokudu]

I'm looking to get my first credit card and was wondering what card you guys would suggest I look at.

I'm 23 years old and a student. My credit history contains only my student loans all of which have been paid on time. According to Credit Karma I have ~640 credit with Transunion and ~700 on the VantageScore which puts me on the line between Poor and Fair credit with both.

What cards should I look at, I'm looking for no annual fee if possible and I'm not too worried about rewards, I just want to use the card to build my credit.

 

[Schfifty Five]

I'm looking to get my first credit card and was wondering what card you guys would suggest I look at.

I'm 23 years old and a student. My credit history contains only my student loans all of which have been paid on time. According to Credit Karma I have ~640 credit with Transunion and ~700 on the VantageScore which puts me on the line between Poor and Fair credit with both.

What cards should I look at, I'm looking for no annual fee if possible and I'm not too worried about rewards, I just want to use the card to build my credit.

No annual fee should be a must, not an "if possible".

Are you planning on paying off the card in full every month? If so, then any card with no annual fee will be fine since you don't care too much about rewards.

But rewards are almost a free bonus so why not get a card with something decent?

 

[zokudu]

No annual fee should be a must, not an "if possible".

Are you planning on paying off the card in full every month? If so, then any card with no annual fee will be fine since you don't care too much about rewards.

But rewards are almost a free bonus so why not get a card with something decent?

Yes the no annual fee is pretty much a must if I can get approved for a card with no fee.

I plan on paying it off every month of course.

Which cards with no annual fee have decent rewards? I said that to more show that I care more about the no fee than the rewards.

I see the Chase Freedom card mentioned a lot on other CC threads on here and I had this card mentioned to me in the past. Are there any other alternatives?

 

[dbk]

I got a family member with bad credit into my credit union (NFCU) and got him a secured credit card.. started with $1k. After about a year they moved him to a regular non-secured credit card and up'd the limit to $5k. This was a reward card where you receive a point per $. Not really sure what you get with the points - I know it wasn't a cash reward card.

Creditkarma recommendation: Barclaycard Rewards Mastercard

 

[Schfifty Five]

Yes the no annual fee is pretty much a must if I can get approved for a card with no fee.

I plan on paying it off every month of course.

Which cards with no annual fee have decent rewards? I said that to more show that I care more about the no fee than the rewards.

I see the Chase Freedom card mentioned a lot on other CC threads on here and I had this card mentioned to me in the past. Are there any other alternatives?

In my opinion, pretty much all cards are the same in terms of rewards. They should all give back at least 1% in some form of reward or points with bonus of up to 5% in certain categories.

Amazon card is nice if you shop from there a lot.

Southwest or AAvantage card is nice if you fly a lot.

Chase freedom is pretty decent too.

 

[DaveSimmons]

Do you buy anything from Amazon? Their card gives 3% back for Amazon purchases, 1% for everything else. The reward points can be used directly at checkout or you can get cash or a balance credit.

 

[boomhower]

Do you buy anything from Amazon? Their card gives 3% back for Amazon purchases, 1% for everything else. The reward points can be used directly at checkout or you can get cash or a balance credit.

He's not very likely to get approved for that, it's Chase backed and they typically aren't starter cards not like 640ish scores. Store card could happen very likely though.

With that score I'd go to a local CU and see what they can do for you. You may have to start with a secured card but to me that's better than a high AF junk card from someone else. You have the double whammy of a low score and no revolving history. If you don't have a local CU take a look at DCU, I'm a huge fan of them. I have a CC and a car loan through them. Your best chance at unsecured outside of a CU is going to be Capital One but it will likely carry an AF.

 

[Triumph]

In my opinion, pretty much all cards are the same in terms of rewards. They should all give back at least 1% in some form of reward or points with bonus of up to 5% in certain categories.

Amazon card is nice if you shop from there a lot.

Southwest or AAvantage card is nice if you fly a lot.

Chase freedom is pretty decent too.

I disagree, some cards ARE better than others. I despise roaming categories, which most card rewards programs do. Horrible way to build points, hard to keep track of, and you end up spending money you didn't have to just to get the rewards. "5% at best buy this quarter? Time for a new TV!"

Most people spend most of their money on mortgage/rent, food, and gasoline. I don't know of any bank that lets you pay a mortgage on a CC, so forget that one. For grocery store food, I have a Penfed card that gives 3 points at groceries. For eating out, I have a Citi Forward card that gives 5 points at restaurants. And for gas, again the Penfed gives 5 points per dollar. No roving categories. The only problem is points instead of percentage, but most cards do points now.

For a good general card, the BofA 3/2/1 card is not bad. One card for everything, 3 points on gas, 2 points on food, 1 point on everything else. To get more than that you have to start using multiple cards. The only reason I have a BofA card, though, is a letter they sent me in the mail offering $300 in rewards for spending $500. LOL, what were they thinking???

 

[xanis]

Chase Freedom is a decent all-around card. The 5% cash back on Amazon purchases was nice this season as I was getting Christmas gifts. I alternate between my Freedom and my AMEX Bluecash Everyday depending on what I'm buying.

 

[PliotronX]

Chase Freedom/Amazon Visa may be difficult to be approved for a first card (no/limited history) but after I was enrolled in college, the Citi Forward and Discover It Student were easy for me to acquire and have been lifesavers with great bennies and no annual fee.

 

[zokudu]

Chase Freedom/Amazon Visa may be difficult to be approved for a first card (no/limited history) but after I was enrolled in college, the Citi Forward and Discover It Student were easy for me to acquire and have been lifesavers with great bennies and no annual fee.

Citi Forward seems like another good option. I applied for the Chase Freedom, doubt I'll get approved I only have ~2.5 years of credit history but it can't hurt to try. If I get denied I'll probably look into the Discover It Student.

Should I be looking at getting more than 1 card? Is there a benefit to my credit for that even if I only plan on using one for now?

 

[dank69]

23 and no CC yet? 5 years of possible credit history wasted. For shame OP, for shame.

 

[zokudu]

23 and no CC yet? 5 years of possible credit history wasted. For shame OP, for shame.

I know I'm sorry I'm such a failure. :'(

 

[dank69]

I know I'm sorry I'm such a failure. :'(

I wouldn't classify you as a failure, just a little slow.

 

[Brainonska511]

Are you planning on paying off the card in full every month? If so, then any card with no annual fee will be fine since you don't care too much about rewards.

An annual fee and decent benefits are not mutually exclusive. The rewards on my Amex Blue are mediocre (1 pt per dollar), but the benefits (warranty extension & purchase protection) are great. But for rewards, my primary card is an Amazon Visa: 3 pts/$ at Amazon, 2 pts/$ for gas/drug stores/restaurants, 1 pt/$ everywhere else.

 

[festa_freak]

When I was young I tried to get a mastercard at the bank I have all my money. They wouldn't give me one. So I went to the royal bank who I've never had any business with and they gave me one.
A few years later I tried my home bank again and got one.

My advice is to go with whatever bank will give you one so later you can choose where you want one. And yes, no need to annual fees. Pay it off every month. It's a tool not another bank account.

 

[John Connor]

www.creditcards.com

 

[Scarpozzi]

Here's what I did...

When I turned 18, I opened a bank account at a state-wide branch that had ATMs and physical locations both in my home town and the city I attended college. I went to that bank and opened a line of credit using their subsidiary credit company. So both my bank debit card and credit card (with a $300 limit and no annual fee) both had the same logo on them.

Years later, I got an AMEX Blue account. No annual fee. This is the only credit card I have now.

Your best bet is to find out which gives you the lowest APR with no annual fees. Start with a low credit limit and only use it when you need to. I use my AMEX for buyer protection and when I don't want to take a risk on giving my debit card number to strange places. It's easier to call AMEX and have them stop a fraudulent charge than have my checking account locked up until the bank can sort it out.

If you have a credit union in your area, definitely see what they can offer too. CU's aren't in the game for profit other than their wages. They are typically the best organizations to work with. Banks and Credit Card companies are shady....AMEX just is up front about it and tends to charge a much higher percentage....so they have less hidden fees. (though their APR has risen since the credit laws have passed a few years ago)

One more note: I will not do business with Chase or Bank of America Credit. I mailed them both a check for payment about 7-8 years ago and both companies charged me late fees...conveniently, one day before they claimed to receive my check. It happened more than once and I was mailing them a check over a week before my bill was due. Their customer service would not reverse the charges and I payed my cards off and cancelled them the following month after each incident. I recommend everyone doing business with those companies that has any shady charges on your bills drop those companies.

 

[JM Aggie08]

I'd start off with something basic from your credit union or bank. After putting gas, groceries, etc. on it, and paying it off every month, I'd get an Amex Blue Cash Rewards.

 

[Schfifty Five]

OP, if you can get the Chase freedom, there's a bonus going on right now where if you spend $500 in the first three months, you get a $200 credit back.

http://slickdeals.net/f/6445532-cha...-500-in-first-3-months-and-earn-200-cash-back

 

[smackababy]

I pretty much only use my USAA card exclusively now, but I doubt you qualify for one of those. >_>

 

[IndyColtsFan]

Don't downplay the significance of rewards -- you can get a lot of free stuff with them. I use my Amazon VISA card almost exclusively. I have a Chase Freedom that I use intermittently but I don't like the rotating categories and having to "enroll" in them every quarter.

 

[KidNiki1]

i wouldn't recommend citi bank anything to my worst enemy. thats just my opinion though.

i have the chase freedom card and the chase amazon card. good rewards. pleasant customer service.

 

[boomhower]

For Amazon puchases both Citi Forward and Sallie Mae Mastercard are better at 5% vs. Amazon/Chase's 3%. Sallie Mae also does 5% on gas and 3%or 5% on grocery purchases which includes walmart that almost everyone else is only 1%.. Sallie Mae is my go to card for cash back. I've even downgraded my Amex Blue Cash from preferred to regular.

 

[SlitheryDee]

I was very close to where you are credit-wise when I got my Amazon card. It's a good card with no annual fee and decent rewards that are always in effect. I think I might have gotten lucky with the approval though, because I hear chase is pretty strict with who they'll give cards to. I also was given a very low credit limit which I haven't really managed to get increased very much. That card really jump started my credit score though.