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What’s Best Starter Credit Card For 18 Year Old With No Credit?
What is the best strategy for an 18 year-old with no credit history to open a starter credit card and bank account?
My son is about to turn 18 and going to college in the fall and I want him to start building his credit history with some good starter credit cards.
Is it better to start him off with a student credit card or what is the best starter credit card for someone with no credit?
Any other tips to start building credit for young adults?
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8 Replies
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My parents put me as an authorized user on their oldest card.
Then I signed up for the Discover Student card.
No annual fee and you get cash back.
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I would get a starter card from either Chase or Capital One, more so Chase, because those issuers have good rewards cards that are valuable down the line so the card will still be viable long term because you can product change it into a better card.
Discover is popular for people with little to no credit history, but I’d go with either Chase or Capital One over Discover because with Discover It kind of stops with that card as you get further down the rewards card rabbit hole.
Chase has both a Student Freedom card and a starter card called the Freedom Rise which both earn UR points.
Chances of approval for the Rise increase if you open a checking account with them with at least $250.
Capital One has a selection of both student and starter credit cards and even a secured credit card as options.
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Just did this.
My daughter has been an Authorized User on most of my Amex cards since she was 16.
The day she turned 18, I signed her up for Credit Karma and Credit Sesame and she had a credit score of around 750.
The same day she applied for a Capital One Platinum Card and was approved with a limit of $3k.
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Discover IT was my first card in my late teens and I’m glad I have it.
Typically starts with a low limit and goes up (although never super high like other issuers).
It’s a great no annual fee card to start with and learn responsible credit.
Also, the 5% back is essentially 6.25% when spent on gift cards to certain stores (American Eagle, Gap/Athleta, etc).
It’s actually a pretty great ROI for a no AF card.
I did Citi DoubleCash after that, then Citi Prestige/Premier (back when the Prestige was still a thing).
I would do Chase at this point though.
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Both my boys got approved for Discover Student It card at 18.
Oldest then was approved for Chase Freedom after 1 year.
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My 18-year-old has had a checking with Chase since she’s 16 and her first job.
As soon as she turned 18, she was approved for a Capital One Savor card.
Used that responsibly for 6 months.
Just applied for a Chase Freedom Unlimited card and was approved immediately with a very nice limit.
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At 18 immediately get a Discover Student card.
Also at 18 sign up for a bank account at Chase.
Wait 6 months and try to sign up for a Chase card.
If declined, sign up for a Citi Preferred or Amex Green card.
If you want to add in a Business card I would try with Chase but you will need to open a Business Checking account.
After another 3 months sign up for Amex Preferred card orr Chase card no fee card if you can.
Then every 3 to 6 months sign up for whatever card you can.
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Capital One, Discover, and Chase all have student cards.
Get a no annual fee card because you can keep that open forever and build credit history.
For checking account, Chime is great. It is free!
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