How I Found The Best Credit Cards For Me After Moving To The U.S. From Abroad – Forbes Advisor – Technologist

Because I previously had credit cards while living abroad I felt rather frustrated when I discovered I couldn’t access cards of similar heft here in the U.S.—or at least not right away. It took me a while to realize that the best cards in the market were not available to me at that time.

I had no established credit in the country, a situation most college students are very familiar with. So, I had to start from scratch. That meant the best cards for me were not the best cards out there—far from it. These were the best cards for me at that moment in my life, and they really did bring me to where I am today.

My First Credit Card

The first card I applied for was the Capital One Platinum Secured Credit Card (rates & fees) which has no annual fee. It also has no foreign transaction fees, something I truly needed since I expected to travel internationally quite often.

Secured cards work like regular credit cards do, with the caveat that you deposit cash with the issuer to fund your credit limit. Since these are entry-level cards targeted at those who are building credit, they often come with fewer ancillary benefits. But if you’re starting your credit journey, we’ve compiled a list of some of the best secured cards out there.

The Capital One Platinum Secured Credit Card had a maximum starting credit limit of $1,000, which was problematic, but it didn’t take too long for my limit to grow. Capital One begins automatically reviewing accounts for a credit line increase starting at six months. Right around that time, it raised my credit limit to almost double my funded amount.

My Second Credit Card

My second card, which I got a couple of weeks after the first, was the BankAmericard® Secured credit card*. This card also has no annual fee, but it does have a foreign transaction fee. However, this card had a much higher credit line of up to $5,000, so it quickly became the card I used to purchase airfare.

Moving to Unsecured Cards

Once I had established enough credit history, credit card preapproval letters started coming via mail and email. I was targeted for several cards, but I decided on the Chase Freedom Flex® because of its ease of use and rewards structure. The Freedom Flex earns 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.

I knew that I was spending a lot of money at restaurants, so earning 3% on dining while also not having to be bogged down with an annual fee seemed like a great idea. Once my score was high enough, I was able to close down the secured cards and get my initial deposits back from both Capital One and Bank of America. However, keeping one of those open would have increased my credit age which is a factor in your credit score.

There are many options to choose from when it comes to your first credit card. Many come with some basic benefits, others come with almost none at all. But at the end of the day, these are almost never meant to be your forever card. Think of them as stepping stones to more rewarding cards that can help you earn travel rewards or even cash back.