The best credit card for young adults can have a number of benefits and disadvantages. For example, the Capital One Venture Rewards credit card does not offer an introductory APR rate, which is useful for paying off debt quicker. The card does not offer a signup bonus that can increase your credit score. You cannot withdraw money from ATMs with this card.
Get it Secured
Young adults can manage their finances with a Discover It Secured creditcard. This card offers use flexibility through fixed installments over two years, which makes it easy to manage your finances. You can also use the card like a normal credit card and earn cashback for purchases. It does not offer any additional benefits or rewards, like points that can be saved for later. Your cashback will be applied automatically to your next month's balance if you spend a certain amount.
A second benefit to the Discover it Secured card is its low fees. This is an important advantage for those who want to build credit profiles. The APR on this card is based upon the prime rate. This is unlike other secured credit cards which have high fees.
Chase Freedom Unlimited
The Chase Freedom Unlimited credit card is a great option for young adults with poor credit histories who are looking to apply for credit cards. This card does not offer any sign up bonuses or rewards. However, you can still get electronic statements and a credit score report for free, making it an excellent choice.
Chase Freedom Unlimited is a card that has no annual fees. You get 1.5 percent cashback on all purchases It earns 1.5 percent cash back on all purchases, which is a little less than average. This credit card is great for young adults who are still learning to manage their finances. No matter if you travel often or not, this card will help to achieve your financial goals.
Capital One QuicksilverOne cash rewards credit card
Capital One QuicksilverOne cash rewards credit card may be a good option for young adults who are looking for credit cards. This card is free of annual fees and gives you 1% cashback for all purchases. The sign-up bonus is equivalent to the first year's cash. A foreign transaction fee can be avoided as an added bonus.
This credit card is ideal for young adults with fair credit scores as it has low credit requirements. You must have good credit to qualify, so it is important to maintain it. However, you can upgrade to the full benefits of the card later on if your credit score improves.
Milestone Mastercard
Milestone Mastercard might be right for you if you are a young adult with bad credit and want a credit card. You get MasterCard perks such as extended warranties for large purchases, theft protection and $0 liability for fraud. This credit card also has 24-hour global services and airport concierges.
Milestone MasterCard can be accepted online, in retail locations and via the app. To avoid high interest rates, credit utilization must be kept low. You should also keep track of your account balance and payment history as you cannot control human error or bank processing time.