The best credit card for young adults can have a number of benefits and disadvantages. Capital One Venture rewards credit card doesn't offer an introductory rate. This can be useful in paying down debt faster. A signup bonus is not offered, which can help to improve your credit rating. You cannot withdraw money from ATMs with this card.
Find it Secure
A Discover It Secured credit card for young adults can help young adults manage their finances in a few different ways. This card is flexible and offers fixed installments over two year. This makes it easy for you to manage your finances. You can also use it like a normal creditcard and earn cashback for purchases. This card doesn't offer any other benefits, such points that can later be saved, or rewards. The cashback you earn when you spend a certain amount will be automatically applied to the next month's account.
A second benefit to the Discover it Secured card is its low fees. This is a major advantage for people who are trying to build a credit history. The card has a See Terms APR which is based at the prime rate. This is in contrast to other secured credit cards that charge high fees.
Chase Freedom Unlimited
Chase Freedom Unlimited credit is an option for young adults who have no credit history. While this card doesn’t offer any sign-up bonus or rewards, it will allow you to receive electronic statements as well as a free credit score and report. It’s an excellent option for young adults.
The Chase Freedom Unlimited is a credit card with no annual fee. It earns 1.5 percent cashback for all purchases. Although the cash back amount is not high, it's still well above average. Young adults are still learning how to manage their money and this credit card is a great option. This card is great for anyone who travels often or not.
Capital One QuicksilverOne Cash Rewards Credit Card
Capital One QuicksilverOne Credit Card Rewards is an option for young adults. This card has no annual fee and you can earn up to 11% cash back for all purchases You can also earn a sign-up bonus equivalent to the cash you earned in your first year. As an added bonus, you can avoid a foreign transaction fee.
This credit card offers relatively low credit-score requirements, making it ideal for young adults with a fair credit score. To qualify for this card, however, you will need to have excellent credit. You'll also need to keep your score high. If your credit score improves, you will be able to upgrade to get the full card benefits.
Milestone Mastercard
Milestone Mastercard could be a good choice for young adults with poor credit. You get MasterCard perks such as extended warranties for large purchases, theft protection and $0 liability for fraud. You can also get 24-hour international services and airport concierges with this credit card.
Milestone MasterCards can be used online, at retail locations and through the mobile 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.