5 Best Credit Cards For 18 Year Olds in 2023
Are you an 18 year old looking for your first credit card? Congratulations! You’re taking the right steps to build your credit history and begin establishing financial independence.
We considered factors like rewards programs, easy application with a limited credit history or no credit, no annual fee, and more – so you know what to look out for when choosing a credit card.
It can be confusing to determine which credit card is best for you, considering that there are so many different kinds of credit cards out there, each with its features and benefits.
We found five of the best credit cards specifically designed for 18 year olds.
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It’s important to consider certain factors when looking for the best credit card. First, credit scores play a major role in borrowing large sums of money to make financial purchases and showing you are financially responsible.
From renting apartments, car loans, and house loans, the higher the credit score, the better your chances of being accepted and the lower the interest rate.
Secondly, you should check to see if there is any annual fee or foreign transaction fees associated with credit cards and avoid them when getting your first credit card.
Some credit cards offer introductory periods free of an annual fee but charge it in a later period. Here we will present credit cards that do not have an annual fee to start as your first credit cards.
Best Credit Cards For 18 Year Olds
1.) Discovery It Student Cashback
The Discover it student cashback credit card is one of the best credit cards for 18 year olds to build a good credit history. Not only can holders earn money back after their first purchase, but also receive 5% cash back on rotating categories that change every quarter.
In addition, match the cashback total on rotating items for only the end of the first year. For example, if you get $50 in total cash back then Discover will match it to be $100.
Discover is the only bank that offers this credit card feature for those with no credit history.
Plus, they have excellent customer service that can answer any questions you might have about building credit.
After graduating you can update the credit line by contacting Discover and informing them that you are ready to borrow more credit.
It will become a standard credit card instead of a student cash rewards credit card. No changes will be made after it becomes a standard credit card.
Benefits:
- 5% cash back on rotating categories every quarter
- Cashback match for the first year when signing up
- Redeem rewards on millions of online stores
- No credit score to apply
- No annual fee
2.) Discover It Chrome Student
Discover IT Chrome for Students credit card is another excellent choice with no credit score required to apply. With no annual fee, this cash rewards credit card allows young adults to safely begin creating their credit history.
By making on-time payments, activity will be reported to each of the three major credit bureaus—TransUnion, Experian, and Equifax—growing your credit score over time.
Plus, you can take advantage of the cashback match. Discover is the only bank that will provide a cashback match no matter the amount at the end of the first year after you open the account.
No maximum of how much you can earn. Can be $1,000 in cash back and becomes $2,000 at the end of the year.
Benefits:
- Cash Back Rewards:
- 2% cash back at gas stations and restaurants of up to $1,000 purchases combined each quarter
- 1 % other purchases
- Cashback match for the first year when signing up
- Redeem cash-back rewards
- No credit score required
- No annual fee
3.) Capital One SavorOne Rewards for Students
The Capital One SavorOne Student Cash credit card is a great choice for 18 year olds looking to build their credit.
Exclusively for students who are enrolled in a higher education institution. This credit card offers generous student cash rewards credit, bonuses, and reports to the major credit bureaus, helping young adults establish a credit history.
It also has no annual fee or hidden fees. With competitive rewards options, the Capital One Student Savor One credit card is an ideal way for 18 year olds to receive amazing benefits while protecting their financial future.
Benefits:
- Cash Back Rewards:
- 8% cash back on Capital One Entertainment
- 5% cash back on hotel and rental cars booked through Capital One Travel
- 3% cash back on dining, entertainment, popular streaming services, and grocery stores
- 1% back on other purchases
- Complimentary Memberships and Bonuses:
- Complimentary Uber One membership for 6 months (available until 11/14/2024)
- 10% cash back on Uber and Uber Eats purchases (till 11/14/2024)
- $50 cash bonus after spending $100 on purchases within 3 months after opening account
- Redeem rewards online with cash back
- No annual fee
- No foreign transaction fees
4.) Chase Freedom Student Credit Card
Turning eighteen is a milestone and your credit history begins. The Chase Freedom Student credit card is a great way to build credit while enjoying some excellent benefits.
This credit card is specifically designed with young users in mind and will give you all the detailed information you need about your credit history, credit report, and credit scores.
It automatically reviews your credit score every month so that it can eventually increase your credit limit.
Additionally, you will earn 1% cash back on all other purchases or everyday purchases, along with other complimentary memberships a college student will need at a lower price. Saving you money while you enjoy college.
Benefits:
- Cash Back Rewards:
- 1 % cash back on any purchases using the Chase Student credit card
- 5% cash back on qualifying Lyft rides (till 03/2025)
- Membership and Bonuses:
- Complimentary DashPass for first 3 months after account opening (sign up before 12/31/2024)
- 50% discount on DashPass for 9 months afterward
- Complimentary Instacart Membership for first 3 months after account opening (sign up before 7/31/2024)
- $50 bonus credit after making your first purchase with a Student credit card within the first 3 months after account opening
- $20 reward credit after each anniversary for up to 5 years
- Receive a higher credit limit increase after 5 monthly payments on time within 10 months after opening the account
- Free credit score and credit report to review
- No annual fee
5.) Bank of America Customized Cash Rewards Credit Card for Students
The Bank of America Customized Cash Rewards Credit Card for Students credit card is another option for 18 year olds to receive multiple cash backs.
This credit card helps your credit history by reporting your credit activity to all three major credit bureaus, ensuring that your credit score can build gradually among all credit sources.
Also, has no annual or hidden fees, making it a cost-effective way to begin credit-building processes.
Additionally, this credit card provides student cash rewards credit points when you shop at certain locations, allowing 18 year olds to make the most out of their rewards while they work on establishing credit.
With these benefits and more, this credit card is an optimal choice for those looking to lay their financial groundwork.
Benefits:
- Cash Back Rewards:
- 3% in category of choice (Can change once per month or keep the same)
- Gas
- Online Shopping
- Dining
- Travel
- Drug stores
- Home improvement/ furnishings
- 2% at grocery stores and wholesale clubs
- 1% everyday purchases
- 3% in category of choice (Can change once per month or keep the same)
- $200 cash reward bonus offer after spending at least $1,000 within the first 3 months of opening account
- Free access to FICO credit score
- Redeem Cash Rewards
- No annual fee
FAQ
What credit card should a 18 year old get?
You might be wondering what kind of credit card is best for your first card.
For those just beginning to build their credit, a cash rewards credit card is a great place to start. These kinds of credit cards are perfect for individuals with a first-time credit card, as you earn money back in the form of cash rewards or points on every purchase you make.
Choose a credit card without foreign transaction fees as this could limit where you can use it. Unless you are traveling a lot then look for credit cards that exclude foreign transaction fees.
Your first credit card will have a low credit limit. Spend only what you can pay off each month — having your credit card should come with bigger financial responsibility.
What credit card is best for building credit at 18?
For 18 year olds, building credit is best done with the right kind of credit card. The best credit cards for 18 year olds are typically student credit cards, as they often have more relaxed requirements for people with no credit score and rewards tailored to younger people.
The credit limit is low to start but can increase gradually over time with on-time payments. Eventually, you’ll have a higher credit line and credit score in no time.
When choosing a student credit card, be sure to choose one with no annual or hidden fees. Overall, look for a card that has low-interest rates and rewards suited to your lifestyle.
Notable, the best credit cards for 18 year olds include both Discover It Student Cashback and Discover It Chrome Student Card.
Both cards are accepting of young adults with no credit score or credit history, as well as no annual fee or hidden costs, making them great options for students still learning about the responsible use of credit cards.
Is it smart to get a credit card at 18?
At 18 years old, owning your own credit card is a great way to get started on building your credit history. Credit cards are an opportunity to learn financial responsibility at a young age and start receiving cash-back rewards for regular purchases.
Although managing finances along with the cost of living can be difficult for early adults, even those with limited funds can benefit from obtaining a cash rewards credit card.
Starting to have a credit card early in life will save you money in the long run while simultaneously building and improving your credit score.
The sooner you build your credit the more your credit score will improve, allowing you to borrow more money for bigger purchases. Such as a car or a house loan.
Alternatives to Student Credit Cards?
If you are no longer 18 years old look into applying for secured credit cards. Secured credit cards are a great option for those with bad credit or no credit history.
With a secured credit card, you provide a refundable security deposit to credit card issuers, which then determines your credit limit. Your spending is reported to the credit bureaus each month, allowing you to establish a good payment history.
After several months of responsible use, the issuer may return your deposit and upgrade you to an unsecured card with a higher limit.
The key benefits to unsecured credit cards are that approval is often guaranteed with a deposit and it’s a way to establish credit from scratch, which can then open up more credit opportunities.
With time and proper use, a secured card can be a path to a better financial future.
Closing Thoughts
As an 18 year old, you may be feeling overwhelmed with trying to choose the best credit card without any established credit. But don’t worry, selecting the right credit card doesn’t have to be a daunting task.
From the list of five best credit cards for 18 year olds mentioned in this article, you have options to select from as per your needs and lifestyle.
Whether you’re looking for rewards points or more flexibility, choose from any of these credit cards to get started with building your financial future in the right direction.
