5 Best Credit Cards for Young Professionals

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If you have fewer credit cards, this could imply that you have fewer possibilities to build credit, which could limit the financial prospects available to you in the future. 

Having extra credit cards, while beneficial, should not come at the expense of using credit cards sensibly. If you do not intend to pay off the balance on your credit card. There is no use in acquiring a credit card.

credit cards

As you continue researching the best credit cards for young professionals, keep in mind that the purpose of credit cards is to assist you in achieving your long-term financial objectives. 

Because of the specifics of your position, the best credit cards for young professionals that make the most sense for you may not sound suitable for someone else. Following this line of thinking will assist you in matching the features and benefits of a card with your lifestyle and the way you often spend money.

What Young Professionals and Adults should Look for in a Credit Card

The purchase of food (including groceries and dining out/food delivery), travel, online streaming, and entertainment account. For a sizable portion of the expenditures made by young people and professionals.

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And although, indeed, there isn’t a credit card that offers rewards in every one of those areas. There are options that come pretty close to doing so.

Therefore, the credit card test suited for young adults and professionals should provide huge rewards on the purchases above in addition to travel and lifestyle features that differentiate them from the competition and set them apart from other credit cards.

Best Credit Cards for Young Professionals

The very best credit card offers compete to bring in new, creditworthy clients by providing attractive sign-up bonuses, introductory interest rates that are zero percent, and extensive rewards programs.

best credit cards

These credit cards require a solid credit history, which implies you will need to fulfill the following requirements:

  • Have active accounts for loans and credit cards dating back at least five years
  • Have not experienced any payment delays in the previous two years.
  • Have not submitted more than two applications for credit in the previous year
  • If you are a young professional who already has an established credit history, the following credit cards come highly recommended by us:

Chase Freedom Flex

Young professionals who are looking for a credit card that offers cash-back benefits but does not charge an annual fee will find the Chase Freedom Flex to be an excellent choice. 

In addition, it earns 3% rewards at restaurants (including takeout and delivery) and drugstores, and it earns 1% rewards on all other purchases.

chase freedom flex

The fact that the bonus categories are so prevalent contributes to their remarkable utility. Therefore, it is simple to earn a significant amount of cash back if you frequently make purchases at drugstores and restaurants (including qualified delivery and takeout orders). 

In addition, the revolving categories offer the opportunity to win additional incentives. The Chase Freedom bonus categories have previously included day-to-day necessities such as grocery stores, petrol stations, PayPal, Walmart, and Amazon.com, amongst others.

See also: 3 Best Bank Accounts for Students in Canada

Citi Double Cash Card

One of the top credit cards for cashback is the Citi Double Cash Card. It can earn up to 2% cash back on all purchases, 1% when you purchase, and 1% as you pay. 

There is no need to think about which purchases will yield which percentage of cash back. Instead, you can get up to 2% cash back when you buy something and complete your payments on time. It has zero annual fees and is easy to understand.

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Young professionals may find this card appealing because it simplifies cash back. An easy cashback card can be a good fit if you already have a lot on your plate, like advancing in your job or running a side business. 

Cashback incentives can be changed into Citi ThankYou points, statement credits, direct deposits, or mailed checks.

Discover it® Student Cash Back credit card

The Discover it® Student Cash Back credit card does not charge an annual fee and offers a cash-back rate of 5% on up to $1,500 in rotating categories every quarter and 1% on all other transactions. The category is changed periodically, and in the past, they have included dining establishments, supermarkets, petrol stations, Amazon.com, and others.

Aside from that, at the end of the first year, you can have all of your cash rewards, no matter how small, matched dollar for dollar.

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Given that the Discover it Student Cash Back is a student card that does not need a credit score to qualify, it may be a first-year College student individual at age 18. First-year College students applying for their first credit card might find this helpful. 

Further, the possibilities for earning cash back are plentiful for a student card. There is an introductory 0% APR on purchases made with this card for the first six months, followed by variable interest rates between 15.24% and 24.24%. (variable).

Wells Fargo Active Cash® Card.

You can earn cash rewards of up to 2% on all transactions. Additionally, after making purchases totaling $1,000 in the first three months, you will be eligible for a cash rewards incentive of $200. It is one of the best credit cards for young professionals

You can accomplish that goal by allocating approximately $333.33 of your monthly budget. Individuals with outstanding or decent credit are prime candidates for the Wells Fargo Active Cash® Card.

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After the introductory period of 0% purchase APR for the first 15 months after account activation, the card’s variable purchase APR will be 17.99%, 22.99%, or 27.99%, depending on your credit. A variable APR of 17.99%, 22.99%, or 27.99% will be applied to qualified balance transfers. After the introductory period of 0% APR that lasts for the first 15 months from the day the account was opened.

You will be charged a cost of 3% initiation for 120 days of front opening. Then up to 5%minimum: $5 to transfer a balance. 

Also, read: How to Travel the World For Free (17 Ways to Travel for Free)

Blue Cash Preferred Card

If you’re searching for a credit card that offers cash back on various everyday purchases. The American Express Blue Cash Preferred Card might be a good option.

You can receive 6% cash back on purchases made from U.S. supermarkets (up to $6,000 per year, after that 1X) and select U.S. cashback. One of the cheapest deals available for these categories of retailers and services. 

blue cash

You are battling for a 3% cash-back bonus on purchases made at approved petrol stations and public transportation in the United States. Ride-sharing services such as Uber and Lyft are considered eligible forms of public transport cashback. 

Best credit cards for Young professionals might use the expedited cashback to save money for significant purchases. Such as a down payment on a house or a new laptop, which are typical expenses for everyone.

Bear in mind that the Amex Favoured does have an annual fee of $95. Although this fee is waived for the first year. However, the earning potential can exceed this cost.

FAQs

Which credit cards are the most beneficial for young individuals to have?

There is no single 'best card' that may be considered appropriate for all young adults. When you are working on establishing a solid credit profile, it is in your best interest to use a credit card that reports your responsible payment behavior to all three of the major credit bureaus. This will allow you to establish a solid credit history and, as a result, become eligible for the most favorable interest rates on all of your loans, including credit cards, mortgages, and auto loans.

What is The Step-by-Step Guide to Obtaining a Credit Card If You Are a Young Adult?

You can apply for a card either online or, if the card is issued by a bank, at a branch location near you.

How old do you need to be to get a credit card?

To be eligible for a credit card, you must be at least 18 years old. Card issuers frequently need evidence of income or a cosigner who is willing to share accountability for the account from applicants who are younger than 21. If you apply for a secured credit card that needs a security deposit up front and you're under 21, you might be able to skip those additional restrictions.

Conclusion

Simple advice, but it’s also more challenging to put into practice. Spending extra than you can afford is made simple with credit cards. The temptation to make more impulsive purchases and pay them off later could be strong. But it would subject you to monthly interest charges. 

You won’t pay interest if you spend what you can afford and still make your payments in full.