What’s the best first credit card for a 22-year-old with no credit history?
I’m 22 and have only used a Bank of America debit card until now. I have $5K saved in my account and am planning to travel to Europe in August. I’m looking for a credit card with no foreign transaction fees, no annual fee, and good rewards or cashback. Ideally, I want a card I can keep long-term. Any recommendations that fit these criteria? Also, I’m aware I might face some rejection given my lack of credit history, but any suggestions would be appreciated. For context, my mother uses credit cards from Discover and Capital One. Thanks in advance for any of your help.
I recommend checking out the pre-approval sites for Capital One and Discover. This way, you can find out if you’re pre-approved for any cards without impacting your credit report.
While neither of these options has foreign transaction fees, you might encounter some acceptance issues with Discover, so it’s a good idea to carry cash just in case.
Additionally, as mentioned by u/BrutalBodyShots, you should also consider talking to a banker at a Bank of America branch for further options.
It’s nearly impossible to secure a usable credit card with no credit history just two months before your trip.
Realistically, your best option might be a Capital One secured card, which has a $200 limit unless you add more collateral. It doesn’t offer rewards, but it’s a Mastercard you can use in Europe.
Unfortunately, rewards are generally out of reach with no credit history.
Even if you get a credit limit increase with a Capital One secured card, they often cap those accounts at around $2-3k without offering further upgrades, which is why they have a poor reputation among beginners. Unlike Discover, which has a good chance of graduating to an unsecured card in about 7 months with responsible use, Capital One is generally seen as less favorable. In fact, other options might be better than Capital One, as it’s often compared to Credit One Bank in terms of service.
Start with unsecured choices (no deposit needed) like C1 Platinum, Discover IT, and Chase Freedom Rise. Petal and Opensky are predatory lenders; please say no.
If that doesn’t work, try the secured options, such as Discover IT secured or US Bank.
Use the pre-approval tools for C1 and Discover to estimate your chances of approval.
If you’ve never had a credit card and don’t have any revolving credit history on your report, your options will be somewhat limited. Do you have any credit accounts, even closed ones, on your report? A student loan, perhaps? If you have some credit history, an unsecured card from a lender that caters to young or new credit files, like Discover or Capital One, could be a good option. If you have no credit history at all, checking for prequalified offers with these companies is a good start, but you might need to begin with a secured card. At this stage, you can’t be too selective with your first card. It’s mainly about building a credit history for future cards.
Additionally, considering your long-term relationship with Bank of America, it might be worth asking them about any credit card options you might qualify for.
I don’t have any student loans or credit history; I’ve only used cash and my debit card. I initially planned to apply for a Bank of America credit card, but my mom advised against it, saying they might not be the best option in the long run (she didn’t elaborate, so I’m not sure what she meant. Do you have any insight?).
Because of this, I’m now exploring other credit card options. I’ve looked into the Capital One SavorOne Cash Rewards and the Capital One Quicksilver Cash Rewards Credit Cards. Do you think it’s feasible to get a credit card from these banks, or should I consider other options? What are your thoughts?
Without any revolving credit history, your options for credit cards are quite limited. Once you have 12 months of revolving credit history, you’ll have many more choices available to you. As previously suggested, checking for prequalified offers with Discover or Capital One, or visiting a Bank of America branch, would be good steps. Bank of America is well-regarded for credit cards, and many people with long-term credit histories, like myself, are satisfied with their BoA cards. Your mom might have had a negative experience, but that doesn’t mean you will. If these options don’t work out, starting with a secured card is a practical choice. Whether secured or unsecured, building 12 months of credit history will greatly expand your options.