Top Starter Credit Cards To Build Credit

Credit card and bill in the pocket

Many modern consumers consider credit cards as part of their lifestyle. Credit cards help people make transactions quick and safe. By using a credit card, you can also enjoy goods or services and then just pay later for your consumption.  

Some people decide to get credit cards immediately after getting a job, while some choose to get credit cards once they have a solid financial portfolio later on. Regardless of what point in life they are in when they apply for a credit card, their financial statuses matter.

Checklist for first-timers

Before you know which credit cards are best for starters, you have to know what are the requirements first. Every credit agency should abide by the legal requirements before they approve credit cards for first-time applicants. Remember these things before you apply for a credit card on any credit agency:

  • You must be not younger than 21 years old the legal age specified in the Credit CARD Act of 2009 when applying. 
  • Your parents or guardians must be cosigners if you are below 21 years old when applying for a credit card.
  • You must indicate how you will pay your debts by listing your income sources.
  • You must present your financial status as part of your application.

If you are confident that you will check every item off in this checklist, then good for you! Just make sure that every information you will provide is accurate and legal. 

Try applying for these starter credit cards

starter credit card

According to Statista,there are 65% of Americans that are 25 years old and below who own a credit card. So if you want to own a credit card of your own, check these credit agencies. 

First Progress Platinum Elite Mastercard

The top of this list would be this credit card from MasterCard, one of the biggest credit companies in the world. It has released over 200 million credit cards in the U.S. in 2018, dominating the market share easily. However, there is a $29 annual fee and annual percentage rate (APR) range of 14.74% to 24.74%. 

Here are more details on this credit card:

  • Get approved without a credit check or attaining a minimum credit score
  • Quick processing option to your credit card application 
  • You can access your online credit card account anytime and anywhere
  • Access to Hotel Reservation payments, Car Rentals, restaurants,etc.

OpenSky Secured Visa Credit Card

Next up is this credit card from OpenSky. Like in Mastercard, there are no credit inquiries or credit score threshold to get a credit card. But you will have to pay a $200 security deposit which is not bad compared to other credit agencies’ fees.

This is also a VISA card with benefits such as reduced fraud liability and emergency assistance for your life. You can also choose between three levels of benefits: Traditional, Signature, and Infinite if you want to explore more benefits.

Interested in this card? Then check out these other details:

  • OpenSky can approve your credit card application immediately along with anyone else after payment of fees 
  • The security deposit is used as your initial credit limit and it is also refundable. 
  • This card can help you get good credit scores later on because OpenSky is monitored by federal credit bureaus. 
  • You can learn all about credit cards and its usage thanks to OpenSky resources. You can visit their forums and websites for your queries.

Petal Visa Credit Card

Not a fan of paying high annual fees or a one-time payment of a security deposit? Then do not worry, because there is still a credit card you can check out. Consider applying for a Petal Credit Card and enjoy the privileges of a credit card within days. 

There are no minimum credit scores required, no maintaining balance, no security deposits and no credit checks. Also, you do not have to pay any fees. Yes, you read that right, Petal does not charge administrative fees, annual fees, and other fees for credit card applicants. Petal Credit Cards help first-timers to save time and money on long processes and high fees. 

Does this credit card sound good enough already for you? Then you will be thrilled with these other details:

  • Enjoy 1.5% rebate if you pay your monthly fees on time. The rebate is applicable only for 12 on-time payments.
  • Aside from this, you can also enjoy a 1% cashback on consequent purchases right after you get your credit card. 
  • Below average annual percentage rates (APRs) ranging from 12.99% to 29.49%.
  • Get a credit limit as high as $10,000! 

Start Small and spend wisely

Credit card

As a first-timer, you can get approved immediately for a credit card. However, your credit limit will not be as big as those with high credit scores. 

Sure credit cards help you to basically pay for anything conveniently. But do not forget that managing your finances is much more important than applying and using credit cards. 

C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.