Best Credit Cards for Millennials

By Ashley Eneriz. Last updated 29 May 2019. 0 comments

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A recent study by Bankrate found that 67% of millennials don’t have credit cards. It seems like they’re learning from the mistakes of their elders and avoiding costly debt. They’re saving more and spending within their means. That’s great news for the financial outlook of millennials.

However, swearing off credit cards can come back to hurt them in the future. Using credit cards responsibly is a powerful way to build a strong credit score. Without it, millennials who want to buy a car or a home in the future may find themselves struggling to get approved for a low interest rate, regardless of their responsible spending. You have to have a good record of paying back debts, in order to be approved for one.

Besides the importance of building a credit history, there are other reasons millennials should embrace credit cards. Free perks and services could save loads of money and as long as the balance is paid in full each month, millennials can continue to avoid debt but reap the additional benefits credit cards can offer. These are the best credit cards for millennials.

Now Is the Time to Travel (for Free)

Take advantage of travel opportunities before you get married and have kids. The best travel rewards credit cards offer attractive bonuses for new cardholders.

The Chase Sapphire Preferred® Card allows you to earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months of account opening. That's $750 in travel when you redeem through Chase Ultimate Rewards®. This card also allows you to transfer your points to other airline and hotel loyalty programs so that you can book award flights and nights through them, too. The annual fee is $95.

Click here to learn more and apply for the Chase Sapphire Preferred® Card today!

If you’re looking for a great travel rewards card with no annual fee, look no further than the Bank of America® Travel Rewards credit card, which offers a 25,000 point online bonus after spending $1,000 in purchases in the first 90 days of account opening. This can be redeemed as a $250 statement credit towards travel purchases, such as flights, hotels, vacation packages and more. This allows you to book travel without worrying about blackout dates or award restrictions. There is no annual fee.

Click here or call 866-408-2765 to learn more and apply for the Bank of America® Travel Rewards credit card today!

See also: Credit Cards that Offer the Best Sign Up Bonuses

Utilize 0% APR for Balances to Really Tackle Debt

However, if you need to tackle some debt, look for cards that offer an intro 0% APR to get a break from interest and have 100% of your payments go toward reducing debt.

credit card

The BankAmericard® credit card offers a 0% introductory APR for 18 billing cycles for purchases and for any balance transfers made in the first 60 days. Then, a variable APR of 15.24% - 25.24% will apply. A 3% fee (min $10) applies to balance transfers. There is no annual fee.

Click here to learn more and apply for the BankAmericard® credit card today!

Earn Extra Cash

Using a cash back credit card for everyday purchases just makes plain financial sense. Why not get 1.5% cash back on all your purchases?

The American Express Cash Magnet® Card offers unlimited 1.5% cash back on your purchases. Also, new cardholders can earn a $150 statement credit after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership. Terms apply. There is no annual fee. See Rates & Fees.

For rates and fees of the American Express Cash Magnet® Card, please click here.

Click here to learn more and apply for the American Express Cash Magnet® Card today!

Earn Expert Level Rewards

Do you just want to earn the most valuable rewards possible? These credit cards offer expert level rewards for your purchases.

The Capital One® Savor® Cash Rewards Credit Card awards an unlimited 4% cash back on dining and entertainment, 2% on grocery store purchases, and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020. You can earn a monthly statement credit for Postmates Unlimited through Dec. 2019. As a new cardholder, you can also earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening. There is a $0 intro annual fee for the first year, then $95 after that. There is no foreign transaction fee. 

Click here to learn more and apply for the Capital One® Savor® Cash Rewards Credit Card today!

The Blue Cash Preferred® Card from American Express offers 6% cash back on select U.S. streaming services, and 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, 1% after that). Earn 3% from purchases at U.S. gas stations and 3% cash back on transit including taxis/rideshare, parking, tolls, and more. Earn 1% on other purchases. As a welcome offer, earn a $250 statement credit after spending $1,000 in purchases in your first 3 months. Terms apply. There is a $95 annual fee. See Rates & Fees.

For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

Click here to learn more and apply for the Blue Cash Preferred® Card from American Express today!

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