Credit Cards for Grads
Finding the best credit card as a new graduate can be a difficult task. Although student credit lines are an excellent way to establish credit history during school, an ideal credit card for a graduate is much different. One of the most difficult things is finding a quality card that will accept grads whose credit history is less than perfect. Overall, finding the best credit card for grads is about finding a card that will accept lower credit scores, provide low interest rates, and offer decent reward programs. Following are some cards that combine these three factors and are among the best credit cards for grads.
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Blue from American Express
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The American Express Blue card is one of the most ideal cards for a graduate. It offers an introductory period of 15 months with 0 percent interest for all purchases. Even after the introductory period, the interest rates are lower than competitors' rates. The Blue card also offers a rewards program for members. Most important, this card accepts people with merely decent credit, and it doesn't require grads to have an excellent credit history.
Discover More Card
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The Discover More also does not require excellent credit. Applicants who have decent credit should have no problems getting approved. Although this card doesn't include a 0 percent interest introductory rate, it does offer an extensive rewards program that tops those of nearly all competitors. In certain spending categories, the Discover More allows up to 5 percent cash back, another strong enticement for young grads.
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Citi Forward Card
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The Citi Forward card by Citicards has been designed for and marketed toward young consumers. This card offers an extensive rewards program, allowing users to earn five points for every $1 they spend on restaurants and entertainment, perfect for grads. It provides one point per $1 for all other purchases, with a wide variety of rewards for points. This card also offers a new pay-on-time bonus. This gives users a 2 percent purchase APR reduction on every buy they make, if they stay under their credit line and pay on time for three billing periods in a row.
Chase Freedom Card
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The Chase Freedom is another card that offers an attractive rewards program that should appeal to recent grads. This card allows $100 bonus cash back after $500 in purchases in the first three months. There is a six-month 0 percent APR rate on all purchases, and interest rates remain low after the period. This card also offers 5 percent cash back in quarterly categories, unlimited 1 percent back on all other purchases, and up to an additional 10 percent cash back at select online merchants. This card requires the best credit history out of these four cards. The Chase Freedom does not require excellent or perfect credit history, but it's a little more stringent than others in regards to acceptance.
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References
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