Best first credit card?

Facebook CuckerBerg
Jan 10 42 Comments

For a young money techie? Or any advice/tips?

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TOP 42 Comments
  • F5 Networks / Eng etcd
    Chase Sapphire. LMK if you need a referral link.
    Jan 10 11
    • Clover Health / Eng doenfh
      That's a fair anecdote, totally, but most don't have 700 without a credit card.
      Jan 10
    • F5 Networks / Eng etcd
      Yep, agreed. I happened to have small personal loans which I paid off. And that helped gain the score.

      Also, Clover is absolutely right <700, not worth risking with Chase. Get a WF Secured Card or something along those lines. Or even a Best Buy/Macys card and dont use it for a few months. Your score will go up automatically.

      Just dont apply for 3+ cards in a year.
      Jan 10
    • Clover Health / Eng doenfh
      I think it's actually more than 4 in two years. Even more than two in two years can impact your score.
      Jan 10
    • Capital One EXwk33
      Do you know what your credit score is? If it is low (sub 660) I would get a capital one platinum card. It's the main subprime card without an annual fee (your line will be low, but in 6 or so months your score will go up and you can get a better card). If your score is above 660 and you don't spend a ton get a rewards card without a fee (quicksilver, freedom unlimited, propel....). If you spend a lot get Saphire, Venture, or Double Cash

      Also ignore the persons comment about nerdwallet and credit karma. There rankings are 100% based on what is profitable for them not what is good for you. It is also harder to get approved if you apply from their site. Banks have to pay them a lot for each customer who is approved from their site, so banks have tighter policies than if you apply directly from the banks websites.
      Jan 11
    • Clover Health / Eng doenfh
      I used to work at NerdWallet. I have no incentive to lie about the suggestions. I can't speak for Credit Karma.
      Jan 11
  • Amazon / Eng Russian
    Do you have credit history, given that you're saying first card? If no, ignore most responses above, get whatever card you can get with no annual fee, build credit up to excellent, never carry a balance. Then get fancy cards with lots of points and perks.
    Even then, don't get any card with annual fee unless you do the math and see that benefits outweigh the costs. This will highly depend on your spending patterns.
    Jan 10 5
    • Amazon / Eng Russian
      Once your score can get you any card you want, get Uber and citi double cash. Then chase freedom and discover. All these are no annual fee, so even if you move on to other cards you can keep these and your average account age will stay high.
      Jan 10
    • Clover Health / Eng doenfh
      This right here is the best advice. Former NerdWallet employee.
      Jan 10
    • Facebook CuckerBerg
      OP
      Will being a young baller help me skip this step and get approved for the good ones from the getgo? Is it worth applying for them (which hurts your score I think?)
      Jan 10
    • Clover Health / Eng doenfh
      Can you define young baller? If you mean well-paid, then no. Your credit score does not factor that in; it only cares about proof that you actually pay things off and on time.
      Jan 10
    • Facebook CuckerBerg
      OP
      Ok gotcha, I was wondering if it did factor in income
      Jan 10
  • CGI dGcJ25
    Chase Sapphire Reserve or Amex Platinum if you travel a lot. Amex Gold if you dine out a lot. Chase Everyday Preferred if you don’t do much of the above.
    Jan 10 4
    • Bloomberg / Eng
      Berner69

      Bloomberg Eng

      BIO
      Here for TC
      Berner69more
      I’d lean towards the platinum if you fly with Delta/an airline whose gift cards are reimbursed by the travel credit. You’ll get access to the Centurion lounges and Delta lounges when you travel, which are both much better than US Priority Pass lounges.
      Jan 10
    • Dropbox pu5h33n
      This is terrible advice if op has no credit history. Waste of a hard pull just to get denied. For a first card, Chase Freedom, Discover, or Citi double cashback are easier to get approval and great long term keepers.
      Jan 10
    • Uber / Eng nYf6sJ
      And it's stupid cuz they charge annual fee so you'll close your precious first card.
      Jan 10
    • Bloomberg / Eng
      Berner69

      Bloomberg Eng

      BIO
      Here for TC
      Berner69more
      Maybe they have credit history from student or other loans? Chill
      Jan 11
  • Uber / Eng nYf6sJ
    Your first CC needs to be NO ANNUAL FEE which is super important. Because you want to keep it very very long to lengthen your credit history.
    Otherwise as long as it's easy to apply you are fine.
    Oh one more thing. Only very few very stupid cards don't report to all 3 bureaus. Avoid them as your first card. I forgot which are.
    Jan 10 1
    • Amazon t8g5r
      This is a good point. No fee card you can keep forever.
      Jan 11
  • Google nooglerx
    Discover 10% cash back on select categories each quarter.
    Jan 10 3
    • Intel gfifixyx
      10? Isn't it 5%?
      Jan 10
    • Google nooglerx
      For first year they match all the cashback. So it becomes 10, and the non-category things also effectively becomes 2.
      Jan 10
    • Intel gfifixyx
      Only for the first year. Yup.
      Jan 10
  • New ktFx33
    City double cash flat 2% — DM for referral
    Jan 10 2
    • New ktFx33
      It’s 2% on EVERYTHING. No dumb calculations needed smarty
      Jan 10
    • Amazon t8g5r
      Downside is it has a foreign transaction fee.
      Jan 10
  • Amazon / Eng
    BeffJezos!

    Amazon Eng

    BIO
    Lost in the software world gluing APIs and classes together. Wanted to innovate; now just want my stocks to vest. :/
    BeffJezos!more
    Chase Freedom Unlimited and Discover too. Maximize your cashback bruh!
    Jan 10 1
    • Facebook public2
      In that case you would want the freedom and reserve as well to maximize your points for cash.
      Jan 10
  • Walmart.com ToKL28
    Depends on the goal. Do you want cash back? Balance transfer? Build credit?
    I use Citi, which gives me 2% cash back.
    Jan 10 0
  • Amazon / Eng
    UTukMyJerb

    Amazon Eng

    PRE
    Electronic Arts
    UTukMyJerbmore
    Amex black
    Jan 10 0
  • LinkedIn
    pKlN88

    LinkedIn

    PRE
    Goldman Sachs
    pKlN88more
    Uber
    Jan 10 0
  • Microsoft 2B|!2B=?
    Do not use cc.
    Jan 10 0
  • Microsoft 2B|!2B=?
    Best option is to not use credit card. Otherwise, you will end up buying things that you don't need with the money you don't have.

    Buying things you need with the money you have = ok for all
    Buying things you need with the money you don't have = ok for some
    Buying things you don't need with the money you have = ok for rich
    Buying things you don't need with the money you don't have = ok for none
    Jan 10 1
    • Uber / Eng nYf6sJ
      No we won't. We aren't stupid and we have money to buy stuff without credit card too.
      Jan 10
  • Bloomberg / Eng
    Fork()

    Bloomberg Eng

    PRE
    Amazon
    Fork()more
    For a first credit card, try the Citi Double cash, Chase Freedom or Discover in order from best to worst.

    Then, look at your expenses and find a cars that matches. My biggest credit card expenses are food and liquor so I got the Capital One Savor which gives me 5% back on dining and entertainment and 1% on everything else.
    Feb 3 0
  • Amazon t8g5r
    What's your credit score?
    Jan 10 0