What are some tips for getting a first credit card?

[michaelmorgan]

Can you guys give me some advice like what I need to know, how to pick the right credit card, avoid extra fees and make sure I use it responsibly.

[CreditPoor]

Choosing your first credit card is an important decision. Here are some factors to consider and recommendations to help you select the right one:

1. **Credit History**:
- If you have little or no credit history, look for cards designed for beginners, such as student cards or secured cards.

2. **Annual Fees**:
- Aim for a card with no annual fee to minimize costs.

3. **Interest Rates (APR)**:
- Look for a card with a low APR to save on interest if you carry a balance. However, aim to pay off your balance each month to avoid interest charges.

4. **Rewards and Benefits**:
- Some cards offer rewards like cash back or points. Consider a card that aligns with your spending habits, but don’t prioritize rewards over building good credit habits.

5. **Credit Limit**:
- A modest credit limit is common for first-time cardholders. Ensure it’s enough for your needs but not so high that you risk overspending.

6. **Fees and Penalties**:
- Look for cards with low or no fees for foreign transactions, late payments, or balance transfers.

 Recommended First Credit Cards:

1. **Discover it® Student Cash Back**:
- No annual fee and offers 5% cash back on rotating categories and 1% on other purchases.
- Ideal for students with no credit history.

2. **Capital One QuicksilverOne Cash Rewards Credit Card**:
- No annual fee and 1.5% cash back on every purchase.
- Good for those with average credit.

3. **Chase Freedom® Student Credit Card**:
- No annual fee and offers a small cash bonus after your first purchase.
- Good for building credit while earning rewards.

4. **Citi® Secured Mastercard®**:
- Requires a security deposit and is designed to help you build credit with responsible use.
- No annual fee and reports to all three major credit bureaus.

5. **Petal® 2 “Cash Back, No Fees” Visa® Credit Card**:
- No fees at all (no late fees, no foreign transaction fees, etc.) and offers cash back on purchases.
- Designed for those with no credit history.

6. **Capital One Platinum Credit Card**:
- No annual fee and a good option for those with fair credit looking to build or rebuild their credit history.

[pizzadude]

Moving to Credit Cards

[MissLiz]

Solid advice from @CreditPoor . To add to that, once you've made your decision I recommend trying the prequal sites first before cold apping. Also, if you decide to go the secured card route, Discovers is a great place to start. 

[SouthJamaica]

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@michaelmorgan wrote:

Can you guys give me some advice like what I need to know, how to pick the right credit card, avoid extra fees and make sure I use it responsibly.

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To give you meaningful advice, we would need to know:

-whether you have FICO scores, and if so what they are

-a picture of your credit history and profile

[Anonymous]

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@CreditPoor wrote:

6. **Fees and Penalties**:
- Look for cards with low or no fees for foreign transactions, late payments, or balance transfers.

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While I agree with most of the post, unless OP plans a lot of foreign travel, IMO this is a lower priority, a nice-to-have rather than a must have.  A lot of otherwise good cards (each Chase Freedom Flex/Unlimited) have a high FTF but for many this doesn't matter.

Similarly for balance transfers, if this is the first and only credit card (for now) not too critical.  And hopefully late fees won't be too common a thing!

So yes, desirable but not deal breakers if the card is otherwise good

[michaelmorgan]

Thanks for the detailed advice! This is really helpful. I'll definitely look into beginner-friendly cards like the Discover it® Student Cash Back and the Citi® Secured Mastercard®. Your tips on avoiding annual fees and focusing on low APRs are great. Appreciate the recommendations!

[ptatohed]

Great advice upstream.  If this is your first card, try first for a non-secured card but no shame in a secured card for now.  I don't think I'd mess around with rotating categories on a first card.  I'd recommend just being happy with at least 1.5% cash back for now.  You have the rest of your credit life ahead of you to earn higher rewards, after you have established a solid credit history.  

The 1.5% Student Quicksilver previously mentioned is a fine option.

Not mentioned (unless I missed it) is the Chase freedom Rise, also 1.5%.  Your chances of approval are increased if you have at least $250 in a Chase checking or savings.  

GL!

[Wu-Credit]

Great tips being shared! I'll add mine..

7. **Cash Advances**

- these start charging interest on day one and there is often a high fee, so best to avoid (ex. ATM withdrawals, sending money via PayPal/Cash App/Venmo, online sports betting, crypto purchases, etc.)

[Anonymous]

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@michaelmorgan wrote:

Your tips on avoiding annual fees and focusing on low APRs are great. Appreciate the recommendations!

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Avoid any fees - annual, monthly or one-time

Focus on using a Credit Card as Debit Card and not a high percentage loan; then APR is meaningless.

Don't spend money you don't have and Pay In Full every month.