A credit card is a must-have for anyone who wants to be able to pay for things without having to carry cash or use a debit card.
The best starter credit cards can help you build your credit score and gain financial freedom. If you're just starting and have no credit history, then you should get a secured credit card first. This way, you'll get the chance to build up your score while avoiding any potential risk of getting into debt.
If you’re new to the credit world and have never applied for a credit card, it can be a little overwhelming trying to figure out which ones are best for you. Luckily, there are plenty of cards geared towards people with little or no credit history, allowing you to build your credit quickly and easily as soon as you begin building your credit history with the first card you get. Here’s how to find the right starter credit cards for November 2022!
Apple Card is a new credit card that launched in October. It is a rewards' card with no annual fee and a variable interest rate. Apple Card has great perks like no foreign transaction fees, 3% cash back on Apple Pay purchases, and 6% cash back on all Apple Store purchases.
But the real selling point of the Apple Card is its sleek design, which comes with an optional NFC chip embedded in the rear of the card, so you can tap to pay at millions of locations. It also supports Face ID for security, which is convenient for online payments.
American Express Blue Cash Everyday
The American Express Blue Cash Everyday card is a great card for anyone who doesn't like to carry a balance on their credit cards. This is because the card offers interest-free financing on all purchases made during the first 60 days of membership. It also has some of the best rewards for grocery store purchases, with 6% cash back at U.S. supermarkets (on up to $6,000 in purchases per year), 3% cash back at U.S. gas stations and select U.S. department stores, and 1% back on everything else. There's no annual fee on this card, either — just make sure you pay off your balance every month to avoid interest charges!
Discover it Secured
The Discover it Secured is a great card for people who are rebuilding their credit. It has a low annual fee of $20, and its ongoing APR is 18.24% Variable APR. The secured card also offers a cash-back rewards program that can help you build up your credit score over time.
Discover it secured gives you 1% cash back on all purchases and an additional 1% cash back when you pay off your bill in full each month. If you don't pay in full, the card's APR rises to 25.24%.
Chase Freedom Flex
The Chase Freedom Flex is a great starter credit card to help you build your credit history. It has no annual fee, so it's easy to use and manage. The rewards program gives you 5% cash back on up to $1,500 in purchases in quarterly rotating categories (up to $25 cashback per quarter), as well as 1% cash back on all other purchases.
If you spend $500 per month on the Chase Freedom Flex card, you could earn over $100 in cash-back rewards each year, which would more than pay for the annual fee.
The redemption process is easy, too: You can redeem your rewards as a statement credit against your account balance or as a deposit into an eligible bank account or an eligible gift card. The great thing about this feature is that it allows you to use your rewards just about anywhere — at restaurants, gas stations, and more — even if they aren't participating retailers of the program!
The best starter credit cards for November 2022 will vary across consumers, with some preferring cashback rewards cards, while others prefer airline mileage cards, and so on. We hope the helpful information above has helped you to hone in on which category fits your lifestyle best. Happy spending!