What’s the best credit card for a 22-year-old with no credit history looking for travel perks?
I’m 22 and have only used a Bank of America debit card. With $5K in savings and a trip to Europe planned for August, I’m searching for a credit card with no foreign transaction fees, no annual fee, and good rewards. Ideally, I want a card I can keep long-term. Any recommendations for a card that fits this description would be greatly appreciated. My mother has cards from Discover and Capital One, if that’s relevant.
If you’ve never had a credit card and have no revolving credit history, your options might be limited. Do you have any credit accounts, like student loans, on your report? If you have some credit history, unsecured cards from lenders like Discover or Capital One could be a good start. Without any credit history, you might need to begin with a secured card. It’s important to remember that your first card is just a stepping stone for building credit.
Since you’ve banked with Bank of America for years, it might also be worth inquiring with them about any credit card options you might qualify for.
I recommend checking out the pre-approval sites for Capital One and Discover. You can see if you’re pre-approved for any cards without impacting your credit report.
While neither card has foreign transaction fees, Discover might have limited acceptance, so it’s a good idea to carry some cash as a backup.
Additionally, as u/BrutalBodyShots suggested, consider visiting a Bank of America branch and speaking with a banker about your options.
It’s nearly impossible to get a usable card with zero credit history just two months before your trip.
Realistically, your best bet is a Capital One secured card, which has a $200 limit unless you deposit more as collateral. It doesn’t offer rewards, but it’s a MasterCard you can use in Europe.
With no credit history, rewards cards are pretty much out of reach.
Even if you get a credit limit increase with Capital One, they often keep those cards in a low-limit category, typically capping them at around $2,000-$3,000 with no further upgrades. That’s why they have a poor reputation for starter cards. Unlike Discover, which has a good chance of graduating to an unsecured card after about seven months with responsible use, Capital One cards tend to be less flexible. In fact, other options might be better than Capital One, as they often resemble Credit One Bank in terms of their limitations.
Focus on secured credit cards to build credit and consider student cards if eligible. Look for cards with no annual fee, no foreign transaction fees, and cash back rewards. Responsible use is key to building a strong credit history.