Financial

The Top Credit Cards for a Millennial College Graduate

The college graduates that I have spoken with are excited about the new life that they are about to start, but many of them avoided getting a credit card during college because they feared they would rack up debt, and now that they have a job they are ready to get one.

In this article, we hope to highlight three of the best cards for college graduates that are on the market right now.

A Card for Those with Really Good Credit: Chase Slate

Okay, so maybe you have been able to build some good credit history during college. Let’s start with what can help you.

Right now, CNBC makes a convincing argument that the Chase Slate Card can be the best credit card for college grads who have great credit but a little bit of debt.

The Chase Slate card offers a 15-month, 0% interest promotional period for balance transfers and for new purchases. This can help to give a college grad the help that they need in paying off any high-interest debt accrued during college on other credit cards.

A Great Rewards Card for Decent Credit: Chase Freedom

The Chase Freedom card is one of the favorites of Forbes right now for a number of reasons, and not just for college grads either!

This card is relatively easy to get approved for with credit scores ranging from 670-740 (i.e. average-to-good), offers 1% cashback on all purchases made, and also offers 5% cashback on special categories that rotate each quarter like restaurants, movies, and Christmas shopping.

On top of that, the Chase Freedom card also touts a $100 sign-up bonus right now if you can spend $500 on it in three months. For all of these reasons, the Chase Freedom credit card is my favorite card for college grads right now.

A Good Secured Card from Your Local Bank

So, maybe you don’t have great credit? Perhaps you made a few bad decisions that really hurt your score during college, or maybe you just have no credit history at all.

If either of these situations are the case, it’s never a bad idea to get started with a good ‘ol fashioned secured card. You can set one of these up with your local bank. Basically, you’ll have to leave a certain amount of money on deposit in a separate account that will serve as your credit limit cap and your collateral for the card. These cards can help you build credit quickly if you use them efficiently.