1. Credit Card Interest Is … As mentioned, there is no annual fee. It earns 2x at U.S. supermarkets (on the first $6,000 spent each calendar year, then 1x) and 1x on everything else — plus you get a 20% bonus if you swipe it 20 times or more in a billing cycle. BPI Edge Mastercard. In the Philippines, Banks have their way of screening first-time credit card applicants. That's $1,000 when you redeem through Chase Ultimate Rewards®. Take classes using a phone, tablet, or TV. This page includes information about the Discover it Secured that is not currently available on The Points Guy and may be out of date. Bank of America is another major bank that allows credit card cosigners. So, if you aren’t old enough to buy a glass of wine at dinner, you are also not old enough to earn rewards on that glass of wine with your own credit card. Do you have a credit card that’s not on this list that offers great rewards? Either $5 or 5% of the amount of each transfer, whichever is greater. Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. Read our full Chase Freedom Unlimited review for more details. The amount of interest you are charged is based on a credit card’s APR (annual percentage rate). Read our full Capital One Quicksilver Card review for more details. It does charge an annual fee — $0 to $95 for the first year, then $0 to $99 — based on your creditworthiness. Metrobank M Free Mastercard Features and Benefits With a lower, secured limit, this theoretically curbs spending and keeps users from developing bad habits. As for the security deposit, you’ll have to put down $49, $99, or $200, which is refundable. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Please use credit responsibly. If you spend $4,000 in the first three months, you earn an intro bonus of 60,000 points—which is about a $600 cash value or $750 towards traveling expenses. Also, you’ll earn 2 percent cash back on purchases at restaurants and gas stations for up to $1,000 in quarterly expenses. Read our full Amex EveryDay Credit Card review for more details. Your APR after that will be 16.24 percent to 26.24 percent. 6 Things to Understand About Your First Credit Card. However, that doesn’t mean you’re out of luck. You’re spending money and not getting anything back in return. It is. Sign-up bonus: Earn $200 after you spend $500 on purchases in the first three months of account opening. If you need to build your credit and want rewards in the process, Discover It Secured is an option. Like Citi ThankYou Points and Chase Ultimate Rewards points, you can pool your rewards once you start earning more rewards with more premium Amex cards — and Amex points are some of the most valuable out there. APPLY HERE: Chase Sapphire Preferred Card. APPLY HERE: Capital One Quicksilver Credit Card. Related: One card for every year I’ve been alive: My journey from college student to points pro, 20% more points on purchases when you use the card more than 20 times each month, 2x on groceries (up to $1,000 per month) through April 2021. First time users will find it attractive to get this card as it charges no APR (the annual rate of interest charged by … Benefits vary from card to card, and may include Extended Manufacturer Warranty, Car Rental Insurance, Purchase and Price Protection, Return Guarantee, and more. Below is a list of credit cards that first time credit card, from our Advertisers, applicants may apply for online. Best first credit cards for 2021. Additionally, get up to $50 in statement credits for grocery purchases in the first year of account opening. However, as you get more advanced with travel and award charts, Capital One also lets you transfer your miles to its partners, where you could potentially get even more value. When you are an authorized user, it helps you build up your credit history before applying for your own credit card. Show Summary +. How many people can say they are helping their long-term financial health while also funding their next tropical getaway? This card earns 1.25 miles per dollar on all purchases. 2x points at U.S. supermarkets (up to $6,000 in purchases per year; then 1x). Applying for your first real credit card is a big step towards financial freedom, and it’s also a way for you to start racking up valuable points and miles that you can use to start traveling the world for free. This deposit also sets your credit limit. The Discover It can be a handy tool to have at your disposal. Best Overall: Kinzd Slim Credit Card Holder. Read our full Chase Sapphire Preferred review for more details. Unfortunately, you may not be able to be approved for the rewards credit cards listed above. The key is that “using it properly” part. You’ll pay a $35 annual fee and you’ll need a minimum of $200 for the security deposit. You will earn 1.5% cash back on every purchase you make with no limits. Related: From no credit to free flights: An inside look at a 23-year-old’s credit journey. Capital One VentureOne Rewards Credit Card, I would like to subscribe to The Points Guy newsletters and special email promotions. Once you’re more comfortable with credit cards and credit card rewards, you can always add other cards with higher bonus category earnings to your lineup, but using the Quicksilver as a card for all spending that doesn’t fall into another bonus category is simple. Before using your first credit card, here are some tips to guide you along the right path. Although credit cards are valuable financial tools, they can be dangerous if you don’t understand how they work. Besides, you’ll generally get the most value from when you use your points or miles for your next vacation, not your Amazon or food-delivery order. Related: From debt to over 20 credit cards: the story of my personal finance journey. 2% cash back on all purchases (1% when you buy and 1% when you pay your bill). The card details on this page have not been reviewed or provided by the card issuer. For the best credit card for first time applicants Philippines, see below: 1. However, you can apply for a credit card at 18 years old if you have a consigner or provide proof of income to your issuer. Period. A RED VENTURES COMPANY. You can get 2 percent cash back on purchases—1 percent on the purchase and an additional 1 percent on monthly payments. All Rights Reserved. Why it’s a great first credit card: If you’re an avid TPG reader, you know we recommend this card a lot — and with good reason. However, for those who are brand new to the credit card market, the SavorOne is easier to be approved for and provides a lot of value without charging an annual fee — especially since you won’t pay foreign transaction fees when traveling outside the U.S. Read our full Capital One SavorOne Card review for more details. Rewards: Earn 2x points at U.S. supermarkets (up to $6,000 in purchases per year; then 1x). 10,000 Membership Rewards points after you spend $1,000 in purchases in the first three months of account opening. Related: Why a credit card is a smarter choice than a debit card. Activate by 12/31/21. 6 Steps to Fix Your Finances. 20,000-mile bonus after spending $500 on purchases in the first three months of account opening. You’ll want to pay off your card balance every month because there is an APR of 26.99%. If you’re buying furniture and housewares, you’ll like that you can earn up to 5 percent cash back with this card. One of the easiest ways to do this is online or via your card's app. Related: The 5 credit cards this recent grad keeps in her wallet. A secured credit card is a great way to build a credit history if you use it responsibly. Chase Freedom Unlimited: Best for future value; Capital One VentureOne Rewards Credit Card: Best for flexibility; Citi® Double Cash Card: Best for cash back; Capital One SavorOne Cash Rewards Credit Card: Best for entertainment; Capital One Quicksilver Cash Rewards Credit Card: Best for using abroad Keep it going in the second year and you will get another 2% reduction. Check out our guide to Discover credit cards for more details. Best First Credit Cards; Credit Card Category Annual Fee; Discover it Chrome for Students: Best Overall: $0: Discover it Chrome for Students: Best for Students: $0: Discover it Chrome for Students: Best Unsecured: $0: Chase Freedom Student Credit Card: Best With a Low APR: $0: Apple Card: Best for Avoiding Fees: $0: Apple Card: Best for Learning About Credit: $0: Discover it Secured Citi offers an interesting benefit with their Double Cash Card. For all the money you spend on food, clothing, skincare, workout classes, transportation and everything else in your life, you could be earning valuable points or miles toward your next vacation. View on Amazon(US) If you need a slim wallet that can hold up to 9 credit cards, the MaxGear RFID Credit Card Holder is a good choice. Will authorized user status help you build credit? A Credit Card Can Protect You the Way Cash or Debit Never Can. 1. Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. 8 Best Credit Cards for Young Adults (& First-Time Cardholders) Citi Double Cash. You earn one point per dollar for all other charges. Low fees are another key feature to seek out when getting a credit card for the first time. Not available to applicants who already have a Barclaycard credit card. You’ll also get a 0 percent intro APR on balance transfers for 15 months. No fitness equipment is required. $200 after you spend $500 on purchases in the first three months of account opening. 80,000 points when you spend $4,000 on purchases within the first three months of account opening. The Points Guy will not sell your email. Citi offers an interesting benefit with their Double Cash Card. When you carry a balance, your credit card issuer will charge you a certain percentage of that each month until you pay off your card. Sign-up bonus: Earn $200 after you spend $500 on purchases in the first three months of account opening, Rewards: Earn 3% cash back on dining and entertainment; 2% cash back at grocery stores. Getting a credit card, and using it properly, is the best way to build a good credit history. While you may not find a ton of added rewards with this card, you also won’t find the fees that often accompany the richer rewards cards. Take care of your first credit card whatever it may be. Not just for the established elite: TPG millennials and Gen Z staff weigh in on their experience with premier rewards credit cards, 7 things I loved about the reopened Mauna Lani in Hawaii, United launches free inflight messaging trial on select planes, Register for next Return of Travel webinar with the CEO of Discover Puerto Rico. After that first year or if you exceed the $20,000, you’ll get 1.5 percent cash back on your purchases, which is still a decent standard rate. Plus, one day, you’re going to want to get a house or a car, and we guarantee some people in suits will be asking you for your credit score. Your first step to getting the chance to grab the right card for you., 3. Credit cards have different interest rates, annual fees, and finance charges. Read our full Citi Double Cash Card review for more details. If you happen to have bad (or no) credit history, then the Capital One Secured Mastercard may be a good option for credit builders. Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. But selecting a credit card isn’t as straightforward as you may think, especially if you’re looking for your first card. The Chase Freedom Unlimited card is a good pick for young adults due to its rewards program, introductory APRs, and lack of an annual fee. Minimum age requirement: 21 years old Supplementary card holder age requirement: 13 years old Monthly income requirement: ₱15,000 Eligibility: Employed/self-employed, Filipino resident/Resident foreign individualEmployed, Filipino resident For many consumers, credit cards are an integral part of their finances. They have the ideal archetype and template of the perfect cardholder. The card details on this page have not been reviewed or provided by the card issuer. However, as you get more comfortable with credit card rewards, this is an easy card to pair with other Chase cards to round out a complete credit card strategy. The Capital One VentureOne makes earning travel rewards much simpler. Credit cards aren’t the only way to build credit, but they are the easiest. © 2004-2021 BiggerPockets, LLC. We may receive compensation when you click on links to those products. Having a credit card is not Monopoly money in your pocket, and by not paying off your credit card in full, you’re negating the value of any points you earn. First time credit cardholders are better off using lower tier credit cards to help them manage their spending better while showing them how interest rates work. There are annual fees to consider, as well as interest rates, and the list goes on. Related: How to Build Credit From Scratch. Sign-up bonus: $200 bonus after spending $500 in their first three months. Related: 7 things to understand about credit before applying for cards. The information for the Citi Prestige card has been collected independently by The Points Guy. The list of credit card member benefits is quite long. You can get higher credit lines as you go by making your first five payments on time. 45 points won’t get you anywhere by themselves, but they do add up over time. The Card Act of 2009 states that you have to be at least 21 years of age to have a credit card in your name. The APR on this card is a variable rate ranging from 18.24 percent to 25.24 percent. With all that in mind, you may want to sign up for your first credit card ASAP. The card earns 1% cash-back on eligible gas and groceries as well as your monthly mobile phone, internet, cable and satellite TV services. This site does not include all credit card companies or all available credit card offers. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). That 2% adds up really quickly when you use this for most of your monthly expenses. You’ll receive a card with your name on it linked to the main account holder’s card. There are several types of cards for first time card holders. There are plenty of credit cards for fair or bad credit you can apply for to help you improve your credit score before you apply for a rewards credit card.
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