Applying for your first credit card as a high school or college student could help you on your journey towards building a healthy credit score. Ahead, you'll find some useful tips for applying for your first credit card.
I already have a list which basically groups from worst to best. But we're only go with best in this article.
There are two credit card companies you need to work with:
- Chase
- American Express
Top 10 Best First Credit Cards in 2022
#1：Chase Sapphire Preferred (100k Offer)
- The first year value is about $1,505.
- Sign-up bonus: 100,000 Ultimate Rewards (UR) Points.
- Spending requirement: $4,000 in 3 months.
- The points are worth about 1.6 cents/point.
- $95 annual fee, NOT waived for the first year.
#2：AmEx Platinum (100k Offer)
- The first year value is about $1,460.
- Sign-up bonus: 100,000 Membership Rewards (MR) Points.
- Spending requirement: $5,000 in 6 months.
- The points are worth about 1.6 cents/point.
- You can get $100 (estimated value) of airline incidental fee credit ($200 face value, and actual value is estimated by 50% of face value) twice in the first year.
- You can get $210 (estimated value) of various credits (Face values are: Uber credit $200, Saks credit $100, respectively. Actual values are estimated by 70% of face values) once in the first year.
- $550 annual fee, NOT waived for the first year.
#3：AmEx Delta SkyMiles Platinum (90k +$200 Offer)
- The first year value is about $1,120.
- Sign-up bonus: 90,000 DL Miles + $200.
- Spending requirement: $3,000 in 3 months.
- The points are worth about 1.3 cents/point.
- $250 annual fee, NOT waived for the first year.
#4：AmEx Delta SkyMiles Gold (70k +$200 Offer)
- The first year value is about $1,110.
- Sign-up bonus: 70,000 DL Miles + $200.
- Spending requirement: $2,000 in 3 months.
- The points are worth about 1.3 cents/point.
- $99 annual fee, waived for the first year.
#5：Chase British Airways (100k Offer)
- The first year value is about $1,105.
- Sign-up bonus: 100,000 BA Miles.
- Spending requirement: $5,000 in 3 months.
- The points are worth about 1.2 cents/point.
- $95 annual fee, NOT waived for the first year.
#6：AmEx Gold (75k Offer)
- The first year value is about $1,070.
- Sign-up bonus: 75,000 Membership Rewards (MR) Points.
- Spending requirement: $4,000 in 6 months.
- The points are worth about 1.6 cents/point.
- You can get $120 (estimated value) of various credits ($120 face value for dining credit, $120 face value for Uber credit, and actual value is estimated by 50% of face value) once in the first year.
- $250 annual fee, NOT waived for the first year.
#7：Chase Southwest Airlines Plus (65k Offer)
- The first year value is about $906.
- Sign-up bonus: 65,000 WN Miles.
- Spending requirement: $2,000 in 3 months.
- The points are worth about 1.5 cents/point.
- $69 annual fee, NOT waived for the first year.
#8：Chase Southwest Airlines Priority (65k Offer)
- The first year value is about $901.
- Sign-up bonus: 65,000 WN Miles.
- Spending requirement: $2,000 in 3 months.
- The points are worth about 1.5 cents/point.
- You can get $75 Southwest travel credit once in the first year.
- $149 annual fee, NOT waived for the first year.
#9：Chase Southwest Airlines Premier (65k Offer)
- The first year value is about $876.
- Sign-up bonus: 65,000 WN Miles.
- Spending requirement: $2,000 in 3 months.
- The points are worth about 1.5 cents/point.
- $99 annual fee, NOT waived for the first year.
#10：Chase United Quest (80k Offer)
- The first year value is about $870.
- Sign-up bonus: 80,000 UA Miles.
- Spending requirement: $5,000 in 3 months.
- The points are worth about 1.4 cents/point.
- $250 annual fee, NOT waived for the first year.
Chase has the 5/24 rule, which you cannot apply more than 5 credit cards within 24 months. If that happens, you're not going to get any of these cards. The best credit card that Chase is offering now with the biggest sign on bonus is the Chase Sapphire Preferred. Look at the #1 List above, Chase Sapphire Preferred has the best offer right now with a new card, 100.000 points since the sign on bonus. That's pretty awesome.
Before you apply for this card directly on Chase's site, you may want to pull up the Southwest exclusive companion pass offer directly from Southwest.com website, which basically allows you to travel with the luxury of having your passenger or your partner for free. A promotional companion pass allows you to designate one person to fly with you for free. That's a card you definitely want to get. Keep in mind that this is applicable to the 5/24 rule and you don't want to apply more than 5 times if you want to get this card. But this is definitely one of the best cards to get.
American Express (Amex): we're will do a quick comparison, Check all American credit cards on the list above, and I want you to look at the #2 Platinum. Amex offering 100,000 Membership Rewards (MR) Points Sign-up bonus and more, that is higher than Chase's best Card. these are like the cream of the crop, Amex and Chase.
Conclusion
Another thing, if you want to be approved for American Express card, you can't have more than 5 cards. So that's where you want to apply strategy, credit building strategy. Since American Express has that notorious rule and considering they are offering, if you just look a comparison side by side, Amex is giving you more rewards, points and signing bonuses. I would apply for Amex first. Now you may get five Amex cards and that's five inquiries, that would automatically deny you to get approved for chase cards. So as you can see side by side comparison, we did the comparison between Amex and Chase. Those are the two best credit cards.
However, currently American Express, I would recommend more than Chase. They're both great credit cards, but American Express is now offering more attractive deals considering they recently lost their their deal with Costco. But look at the list below and choose with ever Credit Cards best fit for your need.
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