The top 3 credit cards for beginners in 2024, focusing on ease of approval, low fees, and tools for building credit:
1. Discover it® Secured Credit Card
• Why it’s great:
• No annual fee.
• Earn 2% cash back at gas stations and restaurants (up to $1,000 quarterly) and 1% on all other purchases.
• Matches all the cash back you earn in your first year.
• Best for: Those starting with limited or no credit history.
2. Capital One Platinum Credit Card
• Why it’s great:
• No annual fee.
• Available for people with fair credit or limited credit history.
• Access to a higher credit limit after six months of on-time payments.
• Best for: Building credit while avoiding upfront deposits.
3. Petal® 2 “Cash Back, No Fees” Visa® Credit Card
• Why it’s great:
• No annual fee, late fees, or foreign transaction fees.
• Earn 1% to 1.5% cash back on purchases as you pay on time.
• Uses alternative data (e.g., income and spending patterns) to approve applicants with little or no credit history.
• Best for: Beginners seeking rewards without traditional credit requirements.
Key Tip for Beginners:
• Start with one card, make small purchases, and pay the full balance on time each month.
• Avoid carrying a balance to prevent interest charges.