10 Best Credit Cards for Building Credit in 2022 for beginners with no credit history | Instant approval
If you are trying to boost your credit score, one of the most effective ways to do this is by applying for credit cards. A good credit card will help you boost your credit score by helping you improve your utilization rate. Using a credit card wisely is one of the best ways to boost your credit score. If you want to know which are the top credit cards to apply for in 2022 check out our list below.
Building Your Credit Score with the 5 Best Tips
Building your credit score is a complicated process, which is why we’re here to help. There are five simple tips that will help you to get on the right track and build your credit score steadily over time.
Check your credit report: Understanding what is on your credit report and how it affects your score can be the first step in building a positive credit profile. It is important to make sure you check all three of your reports (Equifax, Transunion, and Experian) every year so any errors can be corrected before they have an effect on your score.
Pay off old debts: One of the most popular ways to build good credit quickly is by paying off old debts. This way, when lenders or potential employers look at what you have accomplished in the past few
In order to build your credit score, it is important to start by understanding the different components that make up a credit score.
Next, you will need to understand how your actions affect your credit score. Finally, you should take some time learning about the 5 best tips for building a credit score.
The thing that you should know is that there are different types of scores. The most common ones are a FICO and a VantageScore. The second thing you should know is what affects your credit score.
There are five major factors: on-time payments, total amount of debt, length of history with creditors or lenders, balances owed on accounts and mix of credit used (credit cards vs mortgages). Next, you need to learn some quick steps for building a good credit rating quickly and efficiently
5 Things You Should Know About Secured Credit Cards
Secured credit cards are the perfect solution for people with low credit scores. The credit card companies will accept you as a customer if you deposit money in the bank account that they use for transactions. Here are 5 things you should know about secured credit cards.
1) You don’t need to have perfect credit to get one of these cards
2) The card issuer will use your money to build up your credit by charging interest on it
3) Secured cards usually require a deposit of $300-$500, but some may require a deposit of $100 or less
4) A secured card can be used anywhere that accepts Mastercard or Visa and comes with the same protections that any other type of card offers
5) You can get a secured card from many different banks
Choosing a Card That’s Right for You – The Complete Guide
How are you supposed to choose the best card for building credit? There are so many different cards, with so many different bonuses. Well, the first thing you need to do is figure out what type of card you want.
There are three main types of cards – credit cards for building credit, good cards for building your score, and rewards cards. Which one is the best card for you? We’ve put together a list of our favorite cards that will help you find out!
If you’re looking for a card that will help build your credit score, then think about getting a secured credit card. Secured cards require an upfront deposit – usually around $200 – as collateral against your line of credit. Typically they have lower limits than unsecured cards and higher interest rates
With a few different types of cards at your disposal, it’s important to know which one will suit your needs best. At the end of the day, you want to be able to take full advantage of all the rewards and benefits that come with a card.
Some cards are great for travel insurance, others offer cash back bonuses on purchases at specific stores. One might offer points that can be redeemed for airfare or hotel stays while another may allow you to transfer points into airline miles.
Choosing the right card that suits your needs best is key when trying to build credit or improve credit score.
The 10 Best Credit Cards for Building Your Credit in 2022
1. Capital One Platinum Credit Card
Capital One Platinum Credit Card is one of the best credit cards you can get to start building your credit. With this card you get 1% cashback on every purchase and it also offers zero fraud liability protection.
If you want to build your credit with your bank, this is another good choice for you (you can get $50 back when you make your first purchase with this card).
The Capital One Platinum Credit Card is a great card for building credit. The card is designed for people with little or no credit history. Credit cards report to all three credit bureaus, so using this card will help you establish a credit history, which will help you get a mortgage or other loans in the future.
You get a free credit score and free credit report summary every month. The card also offers a $0 cost for balance transfer, no annual fee, and a low variable APR.
2. Discover it Student Cash Back
“Discover it Student Cash Back” Card is a great card for people with less or little credit. This is a great card for college students because it has a free FICO Score, a six-month 0% Intro APR on purchases and balance transfers, and a special rewards program.
The “Discover it Student Cash Back” Card is a unique credit card because it offers a cash back program for students. You earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, and movie theaters.
Students do not earn cash back on foreign purchases and other categories throughout the year. However, this card does offer other ways to earn cash back, such as online cash rewards and a special program to earn cash back on purchases at the end of the first six months.
One of the best parts of this card is that you can earn cash back and build your credit at the same time. If you are interested in getting a credit card for the first time, this is a good choice for you!
3. Barclaycard CashForward World Mastercard
The Barclaycard CashForward World Mastercard Card has a very generous offer. The rewards program, for example, earns you 1.5% cash back on everything you buy, which is a lot more than most other credit cards offer.
The 1.5% cash back is great, but what’s even better is that you actually get a 5% cash back bonus every time you redeem. That means that you can put $1,000 into the card and earn $52.50 towards your next vacation. That gives 5% cash back on everything you buy for 24 months!
Here are some reasons why it’s a great option for those trying to build credit for the first time:
- The card has no annual fee, which is nice for those with little to no income.
- Having no annual fee means you won’t have to pay yearly to build your credit.
- You can get a temporary boost to your credit limit without having to apply for a higher credit limit.
- The boost is only available for the first six months of owning this card, but it’s a great way to get instant access to more credit for you to use.
4. Citi Simplicity Card
The Citi Simplicity has an interest rate of 18.24% to 25.24% (Variable). It has no annual fee and no penalty rate. You can start this credit card with zero credit history. You will be eligible for this card if you are an individual who is at least 21 years old, a U.S. citizen or permanent resident, have a current or open bank account in the U.S. and have a valid Social Security number.
The Citi Simplicity Card does not have a credit limit.It has a great rewards plan and it comes with a great intro APR period. It has a low monthly fee and no annual fee.
This card has been designed for you to improve your credit score. It has a clean and simple interface. It’s a good choice for people who are starting out with a credit card.
It’s a good option for making your credit history. It’s a good secured card for people under 21 or with limited credit history.
5. Chase Freedom Unlimited
The Chase Freedom Unlimited card from Chase will help you improve your credit history and increase your credit score. And a better credit score means a lower interest rate when you apply for a home or car loan. It also means that you’ll have a better chance of being approved for credit cards that have a higher limit and a better rewards program.
The Chase Freedom Unlimited card is the best card to build your credit, if you can stand not having a limit. Many cards are designed for people with no credit to build credit quickly. The credit limit is set at $500, which if you are careful with, you can use for car repairs, fixing the roof, or buying a new TV. As for the card fees, if you follow the steps above, your credit will be high enough to get you a low interest rate so you won’t be paying much in fees.
The security deposit is usually around $200, but may be more if you have bad credit. Good luck building your credit, and be sure to pay on time.
6. BankAmericard Better Balance Rewards Credit Card :
If you’re building your credit for the first time, the BankAmericard Better Balance Rewards Credit Card may be a good choice. It’s a credit card that you can use to make purchases that earn cash back with every purchase.
The cash back comes in the form of points that can be redeemed for rewards such as gift cards, travel, and more. The points you earn do not expire as long as your account remains open.
This is a great credit card to use as a beginner card as it’s a step up from the secured card and offers many benefits to those who use it responsibly.
The BankAmericard Better Balance Rewards card is designed to help build or maintain your credit. It reports to the credit bureaus, like other credit cards, to help raise your score.
You can earn rewards for putting your extra cash into a savings account or redeem your rewards for cash back, gift cards, travel and more. Rewards: Earn 1% cash back on every purchase, every day.
7. PNC Points Prizes Platinum MasterCard
PNC Points Prizes Platinum MasterCard Card is a rewards card from PNC points prizes. It enables you to earn points from everyday purchases.
As soon as you reach a certain amount of points, you can redeem them for a variety of merchandise and gift cards. This card has a fixed interest rate of 22.99% for purchases and applies a higher rate of 24.99% on cash advances.
Having a PNC Points Prizes Platinum MasterCard Card can help you establish a credit history and improve your credit score. Credit history and score is increasingly important in order to get a loan for a car or a house.
Not only will you be building your credit with this card, but you’ll also earn points for every dollar you spend. PNC Points Prizes Platinum MasterCard Card points can be redeemed for cash back or any number of gifts, like electronics or toys for the kids.
The standard variable APR is 22.99%, which is quite high, especially if you tend to carry a balance from month to month. This card has an annual fee of $99.
8. Discover it Secured Visa
Discover it Secured Visa Card is a new credit card from Bank of America, designed to help you build your credit history by reporting to the three main credit bureaus.
It has a low annual fee of $25. You can start using it as soon as you have the funds deposited to the account. The card has a credit limit of up to $300, and once your credit improves, you can request a higher credit limit.
The credit limit depends on the deposit that you have put into the account. You can use this card just like any other regular credit card. You can use this card for any kind of purchase. All purchases made with this card will be reported to the three major credit bureaus (provided the purchase is above the card’s credit limit).
The card also has a rewards program, where cardholders will get one point for every dollar spent on the card. The rewards program is linked to the Discover rewards program, where you can redeem your points for gift cards.
9. Capital One Platinum Secured Credit Card
If you’re looking for a credit card to build credit, the Capital One Secured Platinum Visa Card is a good option. It has no annual fee, offers a high limit, and reports to all 3 credit bureaus.
Since you will not be accepting any APR and the credit limit would be $200, you will not be hurting your credit score. Capital One will be asking for some security deposit while applying for the card. The Capital One Platinum Secured Credit Card is actually a very good option for building credit. It has no annual fee, and unlike some other cards it doesn’t penalize you for missing a payment. As long as you make your payments on time, it’s a good card to have in your wallet.
It’s particularly good because it’s a step up from cards that require a deposit, so if you can’t afford a deposit for a credit card, the Capital One Platinum is a decent place to start.
While other secured credit cards require an upfront deposit, the Capital One Platinum Secured Credit Card will not require any deposit to get approved or receive a credit limit.
10. Citi Secured Mastercard
You can start building credit safely and responsibly with a Citi Secured Mastercard. You’ll enjoy the benefits of a card that works like cash and can help you manage your personal budget. With a Citi Secured Mastercard, you’ll build credit without the need for a credit check or a deposit, making it an easy and affordable way to begin building or rebuilding your credit.
To apply for a Citi Secured Mastercard, visit cardmatch.citi.com and enter your zip code and your state and follow the registration and credit review process.
If your application is approved, you’ll be able to choose your own personal identification number (PIN) and create a backup personal identification number (backup PIN) so you’ll always have the option to use your card as cash.
Thanks for reading our blog about the best credit cards for building credit in 2022. We hope that you were able to find some new information about these cards and how they can benefit you in your credit building journey.