<p>My son asked me what credit card I would recommend for him. I couldnt come up with anything except the generic Visa and MasterCard answer. He doesnt have a credit history but he has accepted a very lucrative offer of employment that will begin in the summer. Anyone?</p>
<p>Is he going to college? If so this can be a good one:
[College</a> Student Credit Card : Discover Student Credit Card](<a href=“http://www.discovercard.com/student-center/]College”>What are the Benefits of a Student Credit Card? | Discover)</p>
<p>No, he’s graduating college and starting a career. Never had the need for a credit card, he got by on his debit card. But the new job will entail some traveling so a credit card becomes a necessity.</p>
<p>My recommendations would be not for a specific card, but to consider these criteria:</p>
<ol>
<li><p>Credit card, NOT debit card. Credit cards have superior protection for the cardholder if the card is stolen or used fraudulently.</p></li>
<li><p>Look for no annual fee card.</p></li>
<li><p>Look for affinity benefits that appeal to the individual (whether travel miles, points or discounts at an LL Bean or whatever, charity affiliation), so long as the cardholder isn’t paying for these benefits in other ways.</p></li>
<li><p>Prefer no annual fee over low interest rate. IMO, all new credit card users should be charging only the amount they can pay off in full each month. Ergo, interest rate is not important.</p></li>
</ol>
<p>Check out Bankrate.com, click on the link at the top (credit card) and put in you’re desired card “benefits” (no fee, perks, etc.), it’ll pull up all current offers. This is a great site and I’ve utilized it for many things. [Compare</a> Mortgage Rates | CD Rates | Credit Cards Home Equity Loans Mortgages Best Rate Calculator Bankrate.com](<a href=“http://www.bankrate.com/]Compare”>http://www.bankrate.com/)</p>
<p>I don’t like my Discover card as much as the others because quite a few places don’t take it. Everyone takes MasterCard and Visa. Since I pay off every month, I don’t care about interest rates or late fees. I just want a no fee card with maximum benefits that aren’t a pain to get back.</p>
<p>Oh sorry about that toblin. When I saw graduating senior I automatically thought high school senior.</p>
<p>I like cards like BofA’s for people that age. Say you have a BofA account, if you get their card it is very easy to transfer from your account to the credit card account online. I know you can do this with all cards but it is nice and easy when it is all on the same website.<br>
My child has a low limit BofA card and pays off the balance as he charges items by transferring funds online.</p>
<p>Chase Student visa card.<br>
<a href=“https://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/shared/marketing/page/StudentCenter[/url]”>https://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/shared/marketing/page/StudentCenter</a></p>
<p>Has reward options, low limit, but can be raised fairly quickly. I would strongly suggest applying for cc before S graduates. Student cards tend to be better for someone just starting to use a cc. My S has had one since starting college, graduates in May, and has no intention of “moving up” to better card. Will be getting a Chase student card for younger S soon as he is HS senior and will need it in the fall.</p>
<p>Both my kids have a cash-back credit card; no annual fee and 1% cash back, through our local credit union. Since they pay it in full each month, there is no finance charge. :)</p>
<p>If he’s never had a credit card and has never been listed on one of yours, it will probably be tough for him to get anywhere near a decent credit limit, as he will have no credit history. Have him apply for one of these: <a href=“https://www.citicards.com/cards/wv/showSearchResults.do?category=CC_EVERYDAY_VALUE[/url]”>https://www.citicards.com/cards/wv/showSearchResults.do?category=CC_EVERYDAY_VALUE</a></p>
<p>Make sure he doesn’t just send out a million applications, as that will drive his FICO score down. One application at a time until he gets going with credit.</p>
<p>My daughter received a credit card from BofA with no job. She does have a checking account with BofA.</p>
<p>It may be rather late without credit history. You may have to co-sign. I am a firm proponent of kids having credit card asap. As others have said, try student credit cards. Also apply on-line. Most on-line applications ask for ‘Household’ income rather than applicant income.</p>
<p>I graduated from college in May and signed up for my first credit card – a Chase Freedom Visa. I had no previous credit history and was offered a $2000 credit limit with no co-signer.
I like that particular card because the “rewards” come in the form of cash back, and it’s nice to get a check in the mail every so often.
I’m not sure about interest rate, since I make sure to be able to pay it off every month, although I believe it’s fairly high.</p>
<p>Capital One has no fees on purchases abroad (as opposed to 3% most cards have), so if study abroad is an option, it will be a good one to have.</p>
<p>I would recommend they ask at the place they currently bank at.</p>
<p>We are fans of our credit union for all our banking needs. Our kids got their first credit cards there without co-signatures right after college graduation. They already had student checking and savings accounts, student loans, and one now had a car loan there as well.</p>