Odds are, you’ve been getting credit card offers since you turned 18, or even earlier. The credit card industry sent out 1.1 billion offers in the second quarter of 2010 alone, more than twice as many as they did in 2009. Despite dire predictions, the industry is far from failing.
So what are the best credit cards you, as a young worker or student, can get? That depends on your needs, but there are a few good options.
The Discover More Card is one good choice, with a zero-percent annual percentage rate for fully 15 months – though you should always pay your monthly balance on time. It also sports a 5-percent cashback bonus in a number of important categories and no annual fee, which is increasingly important these days.
Though it’s not really a credit card, the Zync American Express charge card keeps you honest by not allowing you to carry a balance. The annual fee is just $25 – or less than three months of Netflix – and you get 10,000 points right up front.
The Citi Forward card is another option, which also offers points up front – 8,500 of them – and rewards you heavily for spending on the kind of things that young people use cards for, like restaurants and movies.
With all credit cards, the basics are important – don’t use those free cash advance checks, pay your bills on time and stretch the rewards programs as much as possible.
In addition, you can often get annual fees and other charges waived simply by threatening to cancel – a tactic that’s always worth a try. Even if they call your bluff, you can pretend your iPhone lost the signal.