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Best First Credit Card: The 5 Choices of Credit Cards Today

Credit card for student

If you're applying for your first credit card, you might find yourself quickly overwhelmed by the number of options. On top of that, you might wonder if you'll qualify for the card of your choice or if you should even take the plunge and get a card in the first place. Credit cards can get you a wealth of bonuses you won't find elsewhere; things like cash back, air miles and extended warranties. That can all be had with the right card. In this article, we will break down five credit cards and help you decide which is the best first credit card for you.

Table Of Contents
Product FAQ
How We Reviewed the Best First Credit Cards
Overall Price Range of This Product (and Similar Products)
What We Reviewed
Discover it® for Students
Bank of America Cash Rewards™ for Students
Deserve Edu Mastercard
Journey® Student Rewards from Capital One®
Deserve Classic Mastercard
The Verdict

Some of these cards are available only to students while others are available to everyone. Some have tons of great perks while others are more basic. The best first credit card for you will depend upon your situation and what you're looking for out of a card.

Product FAQ

1. Why Should I Get My First Credit Card?

A credit card can net you bonuses you won't get with cash or a debit card. Air miles, better warranties and even cash deposited back into your bank account are all perks various cards offer. One of the cards on this list even offers students a free year of Amazon Prime. In addition, a credit card will enable you to start building your credit.

2. Why Do I Need to Build My Credit?

Your credit score, sometimes referred to as a FICO score, shows your credit history to those who need to know if you are financially responsible. It affects whether or not you can get a nice apartment or qualify for a home loan. If you build up a high credit score by paying your bill on time every month, you'll also eventually qualify for more perks like higher credit limits and more cash back. If you want to have an exclusive card with a sky-high limit and great rewards, you're going to have to start small with one of these cards first.

3. How Does a Credit Card Help Build My Credit?

The issuers of your credit card will report your monthly bill payments to credit bureaus, and your credit score is developed from that information. Making the proper payment on time every month will show lenders that you are trustworthy and responsible. If you want to maintain a high credit score, you'll have to pay your bill on time and avoid late fees and pay other bills---like student loans---on time.

4. How Do I Get a Credit Card with No Credit History?

It's much easier to qualify for a great credit card when you have great credit, but those with no credit can still qualify for these best first credit cards. You might be pre-approved for some cards, for example. You might also choose to become an authorized user on a trusted family member's card; this means you share a single line of credit. If you do this, it must be with someone who is as responsible as you are because if a payment is missed, it will damage your credit, too. Finally, you may also choose a student credit card, which is designed for a first-time credit card user.

How We Reviewed the Best First Credit Cards

In reviewing these cards, we looked at several different criteria. Interest rates, fees, perks, bonuses and more were all taken into account. We also looked at how easy it is to qualify for each card. The cards below range from student cards packed with great rewards to bare-bones cards anyone can use to start building up their credit score. Each is useful for a slightly different reason. So read about each one, and find out which will be the best first credit card for you.

Overall Price Range of This Product (and Similar Products)

Credit cards aren't free. When you charge a purchase to your new card, you are in debt to the card issuer for that purchase, and the issuer will charge interest. If you leave a balance on your credit card, that interest will build over time. If the interest rate is high, you could end up paying a lot more for the purchase, to the card issuer, if you fail to pay off your balance quickly. In addition to interest, many card issuers charge a small yearly fee to card holders.

In reviewing, we looked for the best deals to save you money. Most of the cards below have no annual fee attached. Interest rates for first-time users tend to be higher than the national average though, so don't be surprised to see some very high numbers there. Keep in mind that the goal for your first credit card is to build credit so you can move on to a better card with more perks, a higher credit limit and lower interest.

What We Reviewed

  • Discover it® for Students
  • Bank of America Cash Rewards™ for Students
  • Deserve Edu Mastercard
  • Journey® Student Rewards from Capital One®
  • Deserve Classic Mastercard

Discover it® for Students

Features

The Discover it® card for Students is one of the student cards that's designed to help students build up their credit score. It has no annual fee and offers perks like 5% cash back on certain items from gas stations, restaurants and online retailers. In addition, users will get double cash back for the first year they use the card. That's 10% cash back for many purchases; it doesn't get much better than that. On top of that, students get a $20 bonus for keeping their GPA above 3.0, and Discover charges no interest for the first six months after activation.

It has a variable interest rate of 14.24%-23.24%, which puts it close to the national average. In addition, Discover is known to be extremely consumer-friendly, which makes them a great choice for a first-time credit card user. With this many perks plus great customer service, the Discover it® card for Students is hands-down one of the best first credit cards out there.

  • Where to Apply
Official Website

Pros

  • Great perks
  • No annual fee
  • Consumer-friendly company

Cons

  • 0% APR:  only good for six months (other cards:  extend it to 1 year)

Bank of America Cash Rewards™ for Students

Features

This card, like the Discover card above, is designed for students who have never had a credit card. It comes with no annual fee, and users won't have to pay interest for the first 12 months they have it. In addition, you'll get $100 cash back for spending $500 on the card within the first 90 days of activation. Finally, you'll get 3% cash back at gas stations, 2% at grocery stores and 1% on all other purchases. The 3%and 2% are available only for the first $1500 spent on those purchases in any given quarter, though most users won't hit that limit. If you have a Bank of America account and redeem these rewards to it, you'll also earn a 10% bonus on rewards, making this card a good pick for Bank of America customers.

There are a lot of great bonuses here, and while the cash back may not quite match up to the Discover it® card for Students, it's still among the best first credit cards out there.

  • Where to Apply
Official Website

Pros

  • No fees and 12 months no interest
  • $100 cash back bonus for spending $500 in the first 90 days
  • Additional cash back for Bank of America customers

Cons

  • Cash back bonuses:  not as impressive as the Discover it® card for Students'

Deserve Edu Mastercard

Features

The Deserve Edu Mastercard is another card for students, but this one is unique in that you won't require a social security number to apply. This along with the lack of foreign transaction fees make it an excellent option for international students. The perks of this card include 1% cash back on every purchase and a free year of Amazon Prime Student, which includes access to Amazon Prime Video and Amazon Music. Its 20.49% variable interest rate is on the high side, but that isn't a deal breaker for international students.

There are some limitations that come with this card. You can't load it into a mobile wallet like Apple Pay, and you can't add any authorized users to it. These drawbacks are annoying but worthwhile if other student cards are unavailable. If you're an international student, this might be the best first credit card available to you.

  • Where to Apply
Official Website

Pros

  • Perfect for international students who want to build credit in the US
  • Cash back on all purchases
  • Free year of Amazon Prime Student

Cons

  • No mobile wallet support
  • Can't add authorized users
  • Interest rate is on the high side

Journey® Student Rewards from Capital One®

Features

The Journey® Student Rewards from Capital One® card is a good card for those who want to build their credit and earn a little cash back in the process. Although the word is right there in the name, you don't have to be a current student to apply for this card. It will earn you 1% cash back on every purchase, and cash back will be bumped up to 1.25% if you pay your bill on time every month. The card also comes with no annual fees, but the 26.99% interest rate is quite high for a card with limited rewards.

This is among the best first credit cards for those who aren't students; currently-enrolled students will find lower interest rates and better rewards elsewhere.

  • Where to Apply
Official Website

Pros

  • Don't have to be a current student to apply
  • Cash back on all purchases

Cons

  • High-interest rate
  • Cash back won't add up much

Deserve Classic Mastercard

Features

The Deserve Classic Mastercard is designed for people without a credit history rather than specifically for students. When you apply, it takes more than your credit history and current finances into account. Deserve will also look at your education, future earning potential, and more, giving those with no credit and/or an unstable financial situation a chance to build their credit. If you know others who could use a first credit card, you'll get $30 for every friend you refer and a $100 bonus if you refer ten friends.

This card lacks a rewards program and comes with a $39 annual fee and a high 24.74% interest rate. None of this is ideal, but if you need a very basic card so you can get started building your credit, this one will do the trick. It's not among the best first credit cards, but something this basic will be the right pick for some. If you have trouble being approved for other cards, this one will help you build credit.

  • Where to Apply
Official Website

Pros

  • Easy approval
  • Referral bonuses for getting friends to apply for the card

Cons

  • High interest and a $39 annual fee
  • No cash back rewards

Comparison

Product

Pros

cons

check online

Discover it® for Students

  • Great perks
  • No annual fee
  • Consumer-friendly company
  • 0% APR:  only good for six months (other cards:  extend it to 1 year)
  • Official Website

    Bank of America Cash Rewards™ for Students

    • No fees and 12 months no interest
    • $100 cash back bonus for spending $500 in the first 90 days
    • Additional cash back for Bank of America customers
    • Cash back bonuses:  not as impressive as the Discover it® card for Students'
    Official Website

    Deserve Edu Mastercard

    • Perfect for international students who want to build credit in the US
    • Cash back on all purchases
    • Free year of Amazon Prime Student
    • No mobile wallet support
    • Can't add authorized users
    • Interest rate is on the high side
    Official Website

    Journey® Student Rewards from Capital One®

    • Don't have to be a current student to apply
    • Cash back on all purchases
    • High-interest rate
    • Cash back won't add up much
    Official Website

    Deserve Classic Mastercard

    • Easy approval
    • Referral bonuses for getting friends to apply for the card
    • High interest and a $39 annual fee
    • No cash back rewards
    Official Website

    The Verdict

    Looking for your first card? The best first credit card for you all depends on your current situation. If you aren't a student, some of the
    very best first credit cards won't be available to you. In that case, you should consider cards like the Journey® Student Rewards from Capital One® or the Deserve Classic Mastercard. If you're an international student, the Deserve Edu Mastercard is easily attainable, lacks foreign transaction fees and can help you build credit here in the United States.

    If, however, you are an American student, you have the best option available to you in the form of the Discover it® card for Students. Not only does this card have a lower interest rate than the other cards on this list, it has better cash back options, offering as much as 10% for some purchases. The $100 bonus for spending $500 or more in your first 90 days and the $20 bonus for a high GPA are just icing on the cake. For users who qualify, the Discover it® card for students is the best first credit card out there.

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