SEATTLE, WA—(Marketwired – Jul 14, 2014) – Graduating from high school or college is a big step into adulthood that naturally brings more responsibility along with it. Therefore, it's essential for young people to build a solid credit history as soon as they take off their cap and gown. Credit history can positively or negatively influence insurance premiums, loan approval, interest rates, the ability to lease an apartment, the ability to buy a home or start a career in certain fields.
One of the most effective and easiest ways to establish good credit is to apply for a credit card, since doing so gives graduate consumers the opportunity to prove their ability to make prompt monthly payments. The details of how well he or she pays their credit card bills will then be sent to major credit score companies that can add this information to the consumer's payment history.
However, not all credit cards are designed for graduates. Selecting the right one mainly depends on the individual's present income. For example, recent graduates should only consider credit card offers that charge low interest rates, have no annual fees, and cash rebates. According to CreditCardChaser.com, a leading online financial expert, the following credit cards meet this criteria and are rated the best credit cards for graduates on the market:
The Discover it® chrome card has no annual fee and is one of the most generous cash back programs on today's market. Coming in a version designed for college students, young consumers automatically receive 2 percent cash rebates on both restaurant and gas station purchases on a quarter basis of up to $1,000 while they continue to earn 1 percent cash rebates on all other purchases. They also receive free access to their FICO score and online tools to help them stay updated with their spending activity and more.
The Discover it® chrome card is available with two versions of zero introductory APR offers: One version offers a zero introductory APR for 14 months on both purchases and balance transfers, while the other version offers zero APR 6 months for purchases and for 18 months on balance transfers. What consumers may find especially appealing about this card is that the late fee is waived on a one–time late payment, and the card's APR will not increase when making a payment late.
The Barclaycard Rewards MasterCard – Average Credit has no annual fee that earns users 2 points per $1 on grocery, utility and gas purchases, and 1 point per $1 on all other purchases. A very convenient feature that comes with this card is that users can redeem points like cash to pay for virtually any transactions made, with no restrictions on when to use these points or how many points can be accrued within a certain period. This rewards card is designed for people with good to fair credit that comes with no introductory APR; it has a variable balance transfer APR rate of 24.99 percent and an ongoing APR rate of 24.99 percent.
Graduates can take advantage of the U.S. Bank Visa Platinum Card that offers a low introductory APR, and no introductory APR on balance transfers or purchases for the first twelve billing cycles. Based on the individual's creditworthiness, a variable APR that is currently 9.99 percent – 23.99 percent will be applied. However, cash advances would not be included under the special introductory rate. In addition, the card offers benefits such as Zero Fraud Liability, Fraud Protection, Auto Rental Insurance, Free Online Banking, Automatic Bill Pay, and FlexControl™, a free online service that puts users in control of their finances by helping them to avoid interest and late fees with automatic payments, which can also help them pay off a balance faster.
Whether a graduate is interested in using their card when paying for their college expenses, buying a car, renting an apartment, buying a home, starting a new career or when starting their own business, the above mentioned credit cards are the highest rated on the market for their zero annual fees, low interest rates, bonuses, rewards and more. These credit cards also train graduates financial responsibility in order to remain in good standing with their credit purchase history.
About Credit Card Chaser:
Credit Card Chaser is an authority credit card site that offers innovative comparison tools, reviews, calculators, and reports to help consumers find the best credit card for them.