Credit Cards for Young Adults

As a young adult building strong credit and financial history is one of the most important things you can do. The financial decisions you make today can affect every aspect of your life in either a positive way or a negative way. With financial independence comes a whole new set of freedoms and possibilities. This article lists four credit cards that are geared towards establishing credit for young adults.

Zync(SM) from American Express

Click Here to Apply for the Zync Card

Zync(SM) from American Express is a rewards credit card that offers a full range of customizable card benefits. Membership Rewards®, which can be redeemed for travel, shopping and entertainment rewards, are earned with every eligible purchase. Cardholders can also choose which Lifestyle Pack offers them the benefits they use most. Zync(SM) from American Express has a low annual fee of just $25 for the Basic Card. And because the balance is paid in full each month, cardholders pay no monthly interest fees.

With Zync(SM) from American Express, you can choose the Lifestyle Packs that fit you. Choose as many Packs as you want, or choose none at all. The Go Pack allows you to earn 2X Membership Rewards® points on airfare. Other benefits include discounts of up to 25% at Avis and Budget, and discounts of up to 20% at Hertz. You will also receive a $50 credit on any American Express Vacations package when you book before December 31, 2010.

The Social Pack allows you to earn 2X Membership Rewards® points on restaurant and events purchases. You can even get special access to event tickets before they go on sale to the public.

With the Connect Pack, you can earn 2X Membership Rewards® points on mobile and cable services, including cell phone, cable and internet. You will use 25% fewer points when you get mobile devices at membershiprewards.com.

The Eco Pack gives cardholders 2X Membership Rewards® points on purchases from select green merchants. You will use 25% fewer points on eco-friendly merchandise and carbon offsets purchased at membershiprewards.com/eco. Plus, for every Eco Pack membership, American Express will purchase $1 worth of carbon offsets from TerraPass, which funds reductions in carbon emissions at dairy farms and landfills across the U.S.

Facecard prepaid Card for College Students

Click Here to Apply for the Facecard

Facecard offers a prepaid card specifically designed for college students. The card offers super low fees, and doesn’t require parental consent under the new credit card law because it is a prepaid card. Here are the details:

A safe alternative to credit card debt.
Ability to use anywhere MasterCard debit cards are accepted, including ATMs.
Instant and convenient access to funds and allowances.
Have funds deposited directly onto your card-easier access to your paycheck.
Safe and easy way to have funds when studying and travelling abroad.
Receive Prewards, which are like coupons, put directly on your card.
Apply Now!

U.S. Bank Young Adult Visa® Card Application

U.S. Bank Young Adult Visa

The U.S. Bank Visa Credit Card is a good way to help you establish your credit. The card gives you the convenience of a credit card you can use at more than 25 million locations worldwide, plus you can build your credit score while managing your own finances. If you use your card at least one time per year you will pay no annual fee. The Visa Zero Liability policy protects you from fraudulent use of your card or account information if it’s lost or stolen. You’ll never be responsible for unauthorized purchases, including those made online.

The APR you receive is a variable rate between 11.99% to 20.99% variable and is based on your credit worthiness. The variable rate is determined by adding a margin to the Prime Rate and may vary monthly. The Prime Rate used to determine your APR is the highest Prime Rate published in the “Money Rates” section of the Midwest Edition of The Wall Street Journal in the last 90 days before the date on which the billing cycle closed (in other words, the “statement date”). The margin used is as follows: Purchases and Balance Transfers is 7.99% to 16.99%, Cash Advances is 15.99% to 16.99% and the Delinquency Rate is 23.99%.