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These Are the Best Credit Cards for Millennials

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Young people have been hesitant to sign up for credit cards; a 2016 survey revealed only 33% of adults between the ages of 18 and 29 had a card. But the tide is turning for millennials, based on Experian's new Credit Outlook for Millennials and Generation Z report.

Millennials (defined as adults 22 to 35) accounted for 20% of all new credit card originations—excluding retail cards—in the fourth quarter of 2017. Millennials are also taking on more credit card debt: their credit card balances grew 28% since 2011.

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When it comes to choosing a credit card, there is no one perfect credit card for any age group: millennials should pay attention to their specific needs and credit backgrounds. We have highlighted a few different credit cards to suit different user profiles. Find the best one for you. Note that all interest rates and details are current as of the publication date.

Find the best credit cards in Experian CreditMatch.

Amazon Rewards Visa Signature Cards

Best for: Millennials who spend a lot of money at Amazon and Whole Foods

Amazon has partnered with Chase to offer two credit cards that offer generous rewards if you spend a lot of money at Amazon and Whole Foods. If you are an Amazon Prime member, you'll get the Prime version of the card, which gives 5% back on Amazon and Whole Food purchases.

If you don't have Prime, you'll earn 3% back on Amazon and Whole Food purchases. Both cards offer 2% back at restaurants, gas stations and drugstores, and 1% back on everything else. You can redeem your rewards for Amazon purchases, or through Chase for cash back, gift cards or travel.

Discover it® Secured

Discover it® Secured

Apply

on Discover's website

Recommended FICO® Score
Poor, New to Credit, Rebuilding

APR

22.99% Variable

Intro APR: 10.99% on Balance Transfers for 6 months

Rewards

2% cash back on Gas Stations & Dining

2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter, 1% unlimited cash back on all other purchases.

1% cash back on All Other Purchases

Intro Bonus: Dollar-for-dollar match of all cash back earned the first year

Annual Fee

$0

Card Details
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • It's a real credit card. You can build a credit history with the three major credit bureaus. Generally, debit and prepaid cards can't help you build a credit history.
  • Establish your credit line by providing a refundable security deposit of at least $200 after being approved. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 8 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.

Rates and Fees

Best for: Millennials who don't have a strong credit history and need help building it up

If you are trying to improve your credit scores and build up a strong credit history, a secured credit card might be the way to go. Such cards require you to pay a refundable deposit which serves as collateral and acts as the amount of your credit line.

With Discover's secured card, you also earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, and unlimited 1% cash back on all other purchases. You will also earn a dollar-for-dollar match on all the cash back you earn at the end of your first year. After 8 months, Discover will review your account to determine if you can transition to an unsecured line of credit.

The information related to the Amazon Rewards Visa Signature credit cards has been collected by Experian and has not been reviewed or provided by the issuer of the card.

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