Top 8 Best Credit Cards For Recent Graduates in 2022 - Digest Your Finances (2024)

Wearing the cap at your graduation is such a huge accomplishment! All those assignments and tests are done, but a whole new phase of adulthood begins! But a good question to answer would be what are the best credit cards for new graduates?

While it might be difficult to navigate the world of credit cards, finding the right card for your particular preferences and lifestyle might be difficult if you’re just graduating and looking for a good start. There are 3 categories we’re going to look at today. The cards you should get depend if you have Good Credit, Okay Credit, and Bad Credit.

We’ve gone ahead and researched that for you, so here are the Best Credit Cards you can get today for Recent Graduates.

With Excellent Credit

According to myFICO.com, excellent credit is a score of 740+. A score equal to or greater than this typically gets you the best credit cards, best interest rates, and treated sorta like royalty! So let’s take a look at what credit cards you should consider as new graduates.

1. Chase Freedom

The Chase Freedom card is an excellent starter card that offers an awesome $100 sign-up bonus after spending $500 in the first 3 months of owning it. This is great if you have utilities and there are ways to use a credit card to pay rent too! It offers 1% cash back on all purchases and 5% cash back on certain categories. Definitely check it out.

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2. Citi Double Cash

The City Double Cash Card is another great option if you want cashback on the money you’re going to spend anyway! It offers 2% cashback on all purchases. The card also offers higher rewards on rotating categories like groceries and gas, but it’s definitely one of the best cards to get out there for every single purchase you make. Its simple model of earning cashback makes it super easy to understand and easy to manage!

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3. Discover it

The Discover it card is one of the best in this category regarding customer service. Similar to Chase Freedom, you earn 1% on all your purchases and earn 5% on certain categories.

For beginners, it also has no late fees for your first late payment and also keeps your interest rate from going up. This is excellent as it’s rare to find other cards that offer such leniency to newcomers in the credit card scene.

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With Good Credit

Next up, we should look at cards to consider when you have Good Credit. According to myFICO.com, good credit is a score between 670-739+. A score in this range won’t get you the very best interest rates but you’ll definitely get pretty good rates and access to most credit cards. So let’s take a look at what cards you should consider.

1. Bank of America Cash Rewards

The Bank of America Cash Rewards credit card for Students is very unique in its cash rewards earning structure. The cardholder can select which category they want to earn a 3% bonus on purchases each month including gas, travel, and furniture stores. The card also earns 2% cash back on grocery stores and 1% cash back on every other purchase.

This card also offers a decent sign-up bonus of $200 after spending $1,000 within the first 90 days of opening the account.

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2. Capital One® QuicksilverOne® Cash Rewards

The Capital One® QuicksilverOne® Cash Rewards Credit Card gives you 1.5% cash back on every purchase. The only big thing to take into consideration is an annual fee of $39.

While many cash-back cards restrict how and when you can redeem cash back, the Capital One® QuicksilverOne® Cash Rewards Credit Card allows cardholders to redeem in any amount at any time. You can even set up auto-redemption, where cashback is automatically applied as a statement credit when it reaches a certain threshold ($25, $50, $100, or $200).

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With Low or No Credit

Lastly, let’s look at a low or no credit score. Typically, these are the credit cards I would recommend if you either have no credit score at all or have a bad score you want to rebuild.

If this is your very first credit card as a new graduate without any prior credit, then these credit cards would be the best option to start with. Let’s check these out.

1. Discover it® Secured

The Discover it Secured card is the first on the list as it’s probably one of the best Secured Cards out there if you’re trying to build your credit. The Discover it Secured card allows you to establish your credit line with a slightly smaller than average deposit. The Discover it Secured card lets you start an account with as little as $200.

The card offers 2% cash back at gas stations and restaurants (up to $1,000 in purchases per quarter) and 1% cash back on all other purchases. It also matches all your cashback in the first year of owning the card. Definitely a good starter card.

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2. Credit One Bank® Visa® Credit Card

The Credit One Bank® Visa® Credit Card is a bit unique with credit-building cards. In most cases, credit-building cards require a security deposit of at least $300 and only match your initial credit limit to what you contribute. But with the Credit One Bank Visa, you don’t have to make a deposit and will receive a minimum credit limit of $300.

It might not be the highest limit to receive at first, but it definitely helps when opening a new card to build your credit. If you make your payments on time, you should be able to increase your limits periodically without being required to make a big deposit.

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3. Capital One® Secured Mastercard®

Lastly, the Capital One Secured Mastercard is an excellent card that you can use when you are trying to build up your credit and has very excellent perks. It has an extended warranty, car rental insurance, travel accident insurance, 24-hour travel assistance, 24-hour roadside assistance, and price protection. All the features you wouldn’t expect to see on a Secured Card.

Another awesome perk is that it has a low-security deposit requirement of $200 or less. This is still quite a low requirement for most secured cards out there. The security deposit can be paid over time and is fully refundable if you close your account or once you qualify and move on to an unsecured card with Capital One.

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