In recent years there’s been a new focus on the importance of financial education for young people. We now all know that budgeting is a must for young people, but for a teenager or young adult, that can feel daunting. On top of learning how to budget and plan, you may also be looking to apply for your first credit card.
Finding the ideal credit card for your needs can be difficult at any age, just as finding the ideal loan is, but especially for young people who are just learning to manage their finances. We’ve put together a list to help you choose a card with the right features and benefits for you. Read on to learn about the best credit cards for 18 year olds.
Capital One® Secured Mastercard® – One of the Best Credit Cards for 18 Year Olds with No Credit History
It’s important to build credit early, but for young people with no credit, it can be hard to get approved for a credit card.
The Capital One® Secured Mastercard® is a great credit card for no credit holders, and it allows immediate use so you can build credit right away. This is a secured credit card, so it requires a deposit, but it helps you build credit and reports to all three major credit bureaus.
Discover it® Cash Back – The Best Credit Card for Young People with Fair Credit
If you have some credit – maybe you’ve bought a car or already built some credit through another card – the Discover it® Cash Back card is a great option.
The interest rates are reasonable, and there is late payment forgiveness. But the real stand-out is the cash rewards, including 5 percent back for restaurant, gas, and Amazon purchases.
Chase Sapphire Preferred® Card – The Credit Card for Young Travelers
For young people who travel often or are planning to, the Chase Sapphire Preferred® Card is a great card. Cardholders earn 2 points per every dollar spent on travel and dining, plus 1 point per dollar spent on anything else.
There’s also a 60,000 point sign-up bonus, but the annual fee is $95, so this card is only worthwhile if you plan to spend big and travel often.
Wells Fargo Cash Wise Visa® Card – A Card with Great Perks, Even if You Need a Cosigner
Finding a credit card when you need a cosigner is one of the tough parts about applying for your first card. Luckily, the Wells Fargo Cash Wise Visa® Card doesn’t ding you for needing a cosigner.
The card offers a 0% introductory APR for 12 months and great cash rewards, including a $200 cash reward bonus when you spend $1,000 in the first three months.
Learn More About Credit Cards and Building Credit
Finding the right credit card is one part of learning to manage your finances and build credit as a young person.
Now that you know more about the best credit cards for 18 year olds, you can explore our blog for even more financial tips and advice. Check out our articles on the worst credit card mistakes to avoid, how to reach a high credit score, and more. Here are some other articles you might find helpful:
The best unsecured credit cards for bad credit you can get now
Credit cards for bad credit with no deposit
Here are the 7 best credit cards for low income earners
Your guide to bad credit student loans