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Credit card recommendations for "beginner"
My daughter will be a senior in high school and was hoping to get some good recommendations for starter or beginner cards for her. This would be her first card. I'd like her to get some experience before she goes off to college. Any recommendations? Thank you!
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Sounds like a smart move! We covered this in a recent The Gist newsletter here. But pasting them here: Discover IT Student Chrome: From our own personal experience, we'd endorse this card. We'd recommend that you pay the balance as soon as it posts too, but if that’s not your style you may have higher standards. Discover offers this as a no-fee card with a free FICO score, a 1-2% cashback, and no prior FICO score required. Deserve EDU Mastercard for Students: A convenient entry-level card for those who lack a U.S. credit history, SSN, or both. It’s limited in some respects and doesn’t interface with less common transactors, but there's no fee and it offers a consistent 1% cashback rate on all purchases. Journey Student Rewards Card from Capital One: A basic card for those with average credit or looking to get their first card. Offers rewards for paying on time, a 1-1.25% cashback rate, and no fees.
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@Jess225 These are terrific, really appreciate it!!
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Add the Chase Freedom Student credit card to the mix here. New cardholders will start off with a $50 bonus after first purchase made within the first 3 months from account opening; they can also earn 1% cashback on all purchases plus $20 good standing rewards (it's basically a statement credit for each school year that you have a GPA of 3.0 or higher) after each account anniversary for up to 5 years. After you make at least five on-time payments within 10 months of account opening, you can qualify for a credit line increase. You also get access to your credit report. No annual fee.
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@Vasiliki476 This one looks like a great one since grades are involved. Appreciate the recommendation.
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