Best first credit card for a 25 year old?

[fifthdimensiondweller]

Hello all,

I was speaking with a friend of mine last night and he mentioned that he's never had a credit card at 25. We chatted for awhile about how DH and I use rewards and pay them off each month and how it's really a great way to pay for things and build your credit if you have the self control (I think this friend definitely does, he's extremely responsible). Still, I'd like to start him off slow with a low limit card that tends to approve those with little credit- are there any good options out there? It doesn't have to offer great rewards obviously, but if possible I'd like for it to offer SOMETHING so he can see his cash back add up slowly with responsible use and see what I do! Would a secured card be a better option in this case?

I remember I started out with the Discover Student card. I still have this card (it's a Discover It now) and I think they approved me with a $500 limit right after I turned 18. He's not currently a student, but is enrolling in a Master's program next year. Would he be better off to wait until he's officially a student again and try to get a student card? Would he be eligible for better cards or be more likely to be approved if he's a student?

If it makes a difference, I imagine he does have some student loan debt from his bachelor's but I'm not sure how much, maybe about $40,000? He works full time as an EMT. He says he has no idea what his credit score is so I'm going to skype with him soon and try to help him find it and check it so we can go from there.

Any suggestions are greatly appreciated- I really want to help my friend out, he does so much for us and I feel like this is a chance for us to repay the favor!

 

[FINFAN]

I was going to suggest Capital One or Discover. Both have cash-back options on *entry-level* cards while he establishes his credit. If he is working full time no need to wait until he is enrolled in school again. He can apply and if approved he can decline or accept. For travel, Chase Sapphire comes highly rated but he would have to work his way up to it.

 

[FINFAN]

Hello all,

I was speaking with a friend of mine last night and he mentioned that he's never had a credit card at 25. We chatted for awhile about how DH and I use rewards and pay them off each month and how it's really a great way to pay for things and build your credit if you have the self control (I think this friend definitely does, he's extremely responsible). Still, I'd like to start him off slow with a low limit card that tends to approve those with little credit- are there any good options out there? It doesn't have to offer great rewards obviously, but if possible I'd like for it to offer SOMETHING so he can see his cash back add up slowly with responsible use and see what I do! Would a secured card be a better option in this case?

I remember I started out with the Discover Student card. I still have this card (it's a Discover It now) and I think they approved me with a $500 limit right after I turned 18. He's not currently a student, but is enrolling in a Master's program next year. Would he be better off to wait until he's officially a student again and try to get a student card? Would he be eligible for better cards or be more likely to be approved if he's a student?

If it makes a difference, I imagine he does have some student loan debt from his bachelor's but I'm not sure how much, maybe about $40,000? He works full time as an EMT. He says he has no idea what his credit score is so I'm going to skype with him soon and try to help him find it and check it so we can go from there.

Any suggestions are greatly appreciated- I really want to help my friend out, he does so much for us and I feel like this is a chance for us to repay the favor!

OOPS...the rule

 

[fifthdimensiondweller]

I was going to suggest Capital One or Discover. Both have cash-back options on *entry-level* cards while he establishes his credit. If he is working full time no need to wait until he is enrolled in school again. He can apply and if approved he can decline or accept. For travel, Chase Sapphire comes highly rated but he would have to work his way up to it.

Thank you very much! I believe DH started out with the Capital One card. I will have him look into both options- thanks!

 

[Psychodisney]

See what you can find without an annual fee. A couple of good options are the citi double cash, Discover it, and Capital one Quick Silver.

 

[fifthdimensiondweller]

See what you can find without an annual fee. A couple of good options are the citi double cash, Discover it, and Capital one Quick Silver.

I'd forgotten about Citi Double Cash- thanks!

 

[Fat01]

snipe:

If it makes a difference, I imagine he does have some student loan debt from his bachelor's but I'm not sure how much, maybe about $40,000? He works full time as an EMT. He says he has no idea what his credit score is so I'm going to skype with him soon and try to help him find it and check it so we can go from there.

Any suggestions are greatly appreciated- I really want to help my friend out, he does so much for us and I feel like this is a chance for us to repay the favor!

Since this 25 yo, is employed full-time as an EMT, he undoubtedly has a checking account at a financial institution already and possibly a savings account there also. The best path for obtaining his first credit card is to go to the financial institution he presently deals with and applying for a credit card with them. He will be more likely to get a low limit credit card there. He would get the cc there and use it properly over a year. After a year he would then apply for another credit card of his choice.... one with pluses that he desires. Today, in the year 2017, it is not as easy as it was years ago to obtain ones first credit card. Going to his current financial institution does not guarantee he will be given a cc but it sure increases his chances dramatically.

 

[fifthdimensiondweller]

Going to his current financial institution does not guarantee he will be given a cc but it sure increases his chances dramatically.

This is an excellent point and something I wouldn't have thought of- thank you!

 

[Albort]

I'd forgotten about Citi Double Cash- thanks!

great card. you can say u make 1% if you buy things, and 1% if you pay it off! great incentive!