5 BEST CREDIT CARDS For Beginners 2020 (Cash Back Credit Cards)

Here are the 5 BEST credit cards for beginners in 2020. I’ll be focusing exclusively on the best cash back credit cards that have no annual fees and GREAT rewards. Click "Show More" to see Ad Disclosure. 💳👉VIEW CREDIT CARD OFFERS! https://markscreditcards.com/offers 🛍 RAKUTEN - Earn Cash Back! http://markscreditcards.com/rakuten ‼️ GET FREE STOCKS FROM WEBULL when you open an account & deposit $100: http://markscreditcards.com/webull BEFORE getting any of these cards, if you’re truly starting out from scratch with no credit history and pretty much a blank credit report, I recommend getting a secured credit card. These allow you to basically pay for a credit limit, meaning you put down a deposit and receive the same credit limit in return. So if you put down a $500 deposit, you’ll receive a $500 credit limit. This allows you to get approved for a card without any prior history while also mitigating the risk of the bank (because if you default on a payment, they’ll use your deposit to cover it). After about 6 – 12 months of responsible use of a secured credit card, you may be automatically upgraded to a unsecured credit card (i.e. a ‘regular’ credit card). If that happens, then your deposit will be returned to you, and you will have benefited from having built up your credit report. The best secured credit card I recommend is the Discover it Secured Credit Card. Unlike most of the competitors, it allows you to earn rewards in the form of cash back with NO ANNUAL FEE! You’ll earn 2% cash back on purchases at gas stations and restaurants, and 1% back on everything else. Discover will also MATCH all the cash back you earned in the first year (so if you earned $300, then you’ll actually end up with $600)! Pretty amazing for a first-time / TRUE beginner credit card! NOW…Moving on to the Top 5 credit cards for beginners! FIRST is the Discover it Cash Back Credit Card. It gives you 5% cash back in bonus categories that rotate each quarter up to $1,500 spend per quarter (i.e. $75 of earned cash back). You’ll then earn 1% on all other categories. It comes with 0% APR (currently for 14 months) and a cash back MATCH. That means Discover will DOUBLE all cash back you earned in your first year. As a fun perk, you can also choose the card design that suits your personality! There is no annual fee for this card. SECOND is the Chase Freedom credit card. The typical sign up bonus is around $150 - $200, but right now there is a HUGE special promotional offer! Not only do you get $200 cash, but you ALSO can earn 5% cash back at grocery stores for the first year, up to $12,000 spend. If you max that out, it’s essentially $200 + $600 = $800 cash back in Year 1 … AMAZING! This also gives you 5% cash back in rotating categories each quarter and 1% on everything else. The quarterly limit is also $1,500 spend or $75 cash back. Cash is earned in the form of points that are worth $0.01 each, so 20,000 points is the same as $200 cash back. It comes with a 0% APR (currently for 15 months) and no annual fee. THIRD is the Citi Double Cash Card, which is FANTASTIC FOR SIMPLICITY. It earns a flat 2% cash back on everything…no categories, no rotations, no points to convert. You’ll earn 1% when you make a purchase, and you’ll earn the other 1% after you pay off the balance. It also comes with a 0% APR (currently for 18 months) and has no annual fee. FOURTH is the Amazon Prime Rewards Visa Signature Card. You’ll need an Amazon Prime account before you apply. It’ll reward you with 5% cash back on Amazon purchases and at Whole Foods Market. You’ll also earn 2% cash back at restaurants, gas stations and drugstores…and 1% on everything else. Cash is issued in the form of rewards points that are worth $0.01 each, so 20,000 points = $200 cash back. This card has no annual fee. FIFTH is the U.S. Bank Altitude Go Visa Signature Card – my new personal favorite and (in my opinion) the BEST NEW CREDIT CARD for beginners in 2020! It comes with an initial sign up bonus of $200 and earns at the following rates: - 4% on takeout, food delivery and dining - 2% at grocery stores and grocery delivery - 2% on streaming services - 2% at gas stations - 1% on everything else It also gives you a 0% APR (currently for 12 months), PLUS a $15 credit for annual streaming services purchases (like Netflix, Spotify, etc.) Like all the other credit cards mentioned, this one also has no annual fee. Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor. #creditcards #cashbackcreditcards #bestcreditcards