Best Credit Cards for Young Adults

This article will discuss the best credit cards for young adults in order to help them determine which credit card companies serve them best as teenagers.
Regardless of how consumers choose to spend their money, credit cards are a fantastic tool for helping them obtain the best value.

Young adults are known to have unique spending preferences. They enjoy travelling, dining out, and shopping online rather than at the mall.

According to a Harris survey, three out of four individuals would rather spend their money on experiences than on acquiring a large amount of material goods.

 

 

Given all of this, it makes sense for them to carry a credit card with rewards that complement their lifestyle.

Continue reading to discover our top recommendations for the best credit cards for young adults.

Citi Premier Card

The Citi Premier Card tops the list of the best credit cards for young adults that will be discussed in this article.

A card with a reasonable annual fee and a generous bonus offer is the Citi Premier Card. This card is for consumers with excellent credit who want the benefits of a good travel rewards card without a hefty annual fee.

Three points per dollar spent at restaurants, supermarkets, gas stations, air travel, and hotels; one point per dollar spent on all other eligible purchases.

Yearly Fee: $95

Offer: 60,000 bonus points after spending $4,000 in the first three months of account opening.

 

Other Advantages or Disadvantages:

• No international transaction fees

• Points can also be redeemed for online purchases at Amazon.com and BestBuy.com.

• Authorized user addition is free of charge

• Although the Citi Premier card’s bonus offer is excellent, the annual fee is not waived for the first year as it is with some similar cards. If you are considering this card, you must travel frequently enough to offset the annual fee.

• Additionally, unlike other travel cards, this card does not include additional travel concierge services or trip protection.

Gourmet Rewards Credit Card

 

Next on our list of the best credit cards for young adults is the Savor Rewards credit card, which is an outstanding credit option.

Food and entertainment can devour a large portion of your budget for fun. The Savor Rewards Credit Card offers substantial cash-back bonuses on dining and entertainment purchases.

Cardholders will receive 4% cashback on dining, entertainment, and popular streaming services; 3% cashback at grocery stores; and 1% cashback on all other purchases.

Yearly Fee: $95

$300 cash bonus after spending $3000 on purchases within the first three months of account opening

In addition to earning 4 percent on dining purchases, the Capital One Savor is one of the few credit cards to offer a bonus on entertainment purchases.

This includes concert and amusement park tickets, as well as tickets to movies and bowling alleys.

Capital One also offers cardholders special events, such as VIP packages to sporting events and concerts.

 

The Chase Sapphire Preferred

This article will also discuss the Chase Sapphire Preferred card as one of the best credit cards for young adults.

The Chase Sapphire Preferred Card is the benchmark for travel rewards, as it offers 5x points on travel purchases made through Chase Ultimate Rewards, 3x points on dining, and 2x points on all other travel purchases.

And points are 25% more valuable when redeemed for travel through Chase Ultimate Rewards. This means that the sign-up bonus of 60,000 points is worth $750 towards travel.

The Chase Sapphire Preferred Card is one of our favourite travel rewards cards, but only high-spending individuals should apply (and a big traveler).

First, the positives. The Chase Sapphire Preferred Card earns 5X points on travel booked through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1 point on all other purchases.

In addition, you can earn a massive 60,000 sign-up bonus points after spending $4,000 in the first three months after account opening.

When redeemed through Chase Ultimate Rewards, this value is the highest in the industry at $750.

This is the clincher. There is an annual fee of $95. To make this card worthwhile, you must be a significant spender.

If you wish to avoid the annual fee, we advise you to review the available alternatives. But if you enjoy a lavish lifestyle, this is the ideal card for you.

QuicksilverOne Cash Rewards Credit Card from Capital One

Consider the Capital One QuicksilverOne Cash Rewards Credit Card if you lack the excellent credit required to qualify for some of the bonuses other Capital One credit cards offer.

It’s a great card for those with average credit, as you can earn 1.5% cash back on all purchases for a modest $39 annual fee.

Minimum Credit Score Required:

• 1.5% cash rebate on all purchases

• Be considered automatically for a higher credit line in as little as six months

• No fees for foreign transactions and a modest annual fee of $39

• If you are in the process of establishing credit, the Capital One QuicksilverOne Cash Rewards Credit Card offers a good chance of approval with a low annual fee (waived the first year) and a generous 1.5 percent cashback.

With the Capital One QuicksilverOne Cash Rewards Credit Card, you will earn 1.5 percent cashback on all purchases without rotating categories or other requirements.

This card has a higher APR than the others on this page, but it is ideal if you intend to pay off your balance each month in full to avoid finance charges.

Platinum Capital One Credit Card

It can be difficult to find an unsecured credit card with average credit, but the Capital One Platinum Credit Card welcomes your business.

There aren’t many perks associated with this credit card, but it’s a good option for young people looking to establish a solid credit history and there’s no annual fee.

Minimum Credit Score Required:

• Only average/acceptable/limited credit is needed for approval.

• Be considered automatically for a higher credit line in as little as six months

• No annual or international transaction fees

• The Capital One Platinum Credit Card is an excellent, no-annual-fee credit card for applicants with average or limited credit.

The Capital One Platinum Credit Card is an ideal introductory credit card if you have a limited credit history (or a fair one that you’d like to improve). This card does not offer rewards, but there is no annual fee to worry about.

Capital One’s ability to provide such cards and excellent prime rewards cards is one of the company’s many strengths.

Therefore, if you begin with a Platinum card and use it responsibly for some time, you may be eligible for an account upgrade.

 

Petal 1 Credit Card with Visa

The Petal 1 “No Annual Fee” Visa Credit Card is an excellent no-annual-fee credit card with a solid rewards programme for individuals with limited or no credit.

It reports to all three major credit bureaus, and you can receive a $300-$5,000 credit limit increase if you use your card responsibly.

Minimum Credit Score Required:

• No credit history is necessary, making it ideal for beginners.

• The Petal 1 features “No Annual Fee” Visa Credit Card does not impose an annual fee, nor does it charge over-limit or foreign transaction fees.

• Two to ten percent cashback at select retailers.

The Petal 1 “No Annual Fee” Visa Credit Card is a great cashback card with no annual fees if you’re still building your credit history and want to earn rewards for the purchasing power you need.

There are no annual fees, and international transactions are also free. Every dollar saved by someone just starting out is a dollar earned.

And while you are accumulating credits, you should be able to earn rewards. You can earn between 2% and 10% cashback on purchases made at select retailers.

You only need to check the app for nearby offers, and your cashback will be issued as a statement credit or sent via check or ACH if it exceeds $20.

The Petal 1 “No Annual Fee” Visa Credit Card has a variable APR between 19.99 and 29.49 percent and a credit limit between $500 and $5,000.

This is not negotiable, but once you’ve improved your credit score, you can use it to obtain a higher limit on another card.

Chase Freedom Student is one of my top recommendations for cash-back credit cards for young adults. It’s a great card for boosting your credit score while also providing cashback benefits.

You will receive 1 percent cashback on every dollar spent, in addition to bonuses and sporadic promotional offers that will earn you even more.

The Chase Freedom Student credit card offers a variable interest rate of 14.99 percent.

This interest rate does not expire after the introductory period, so you will continue to receive the relatively low APR for the duration of your credit card account.

Chase offers a $50 bonus on your first purchase made within the first three months of account opening. That means you will receive 5,000 points redeemable for cashback for spending any amount.

The rewards are well worth the slightly higher APR, particularly if you make frequent purchases. The best part is that you will build credit while earning cashback.

Capital One offers the Platinum Secured Credit Card

Capital One’s Platinum Secured Credit card is the last credit card on our list of the best credit cards for young adults.

The Platinum Secured Credit Card from Capital One is one of the strongest secured credit cards on the market. Having a secured credit card can be a necessary step in bringing your credit profile out of the gutter.

It’s uncommon to find a credit card without an annual fee, and Capital One will automatically review your credit limit every six months.

Minimum Credit Score Required:

• Begin with a $200 initial credit line with a $49, $99, or $200 minimum deposit.

• Be automatically considered for a higher credit line within six months, with no additional deposit required.

• No annual or international transaction fees

• The Capital One Platinum Secured Credit Card has no annual fee and allows you to immediately establish credit with responsible use. Like a prepaid debit card, a secured credit card requires an initial deposit.

• Unlike a prepaid card, however, a secured credit card builds credit (because payments are made, as opposed to the deposit being spent) when used responsibly, with regular reporting to the three major credit bureaus.

• Capital One’s Platinum Secured Credit Card comes with an initial credit line of $200 after a security deposit of $49, $99, or $200. Then, after a credit line review, gain access to a higher credit line in as little as six months.