Credit Cards (US)

The best credit cards for first savings of 2021

Using a credit card can be the best way to start saving money. So, check out our post where we show you the best credit cards for first savings!

Learn the best credit card options of 2021 for your first savings

Check out the best credit cards for first savings! Source: Gettyimages
Check out the best credit cards for first savings! Source: Gettyimages

Maybe you are a college student, and you want to start saving for your future goals, or maybe you are a beginner in the financial world, and you want to start saving as well. Either way, you can start saving by using credit cards. And we can give you some tips about which are the best credit cards for first savings.

In addition, it can be very beneficial to have a credit card because even if you just want to start saving money, you can earn rewards, cashback, and many other perks. Therefore, you can improve your credit score and be able to achieve some goals you might have, like buying a house, a phone, and others.

If you are a college student, you have many credit card options that can be great to start saving money. But even if you are not a college student, you can get some credit cards that will give you great options and rewards. However, if you are new to credit cards, you can also choose one that does not require a high credit score or some that don’t even require credit scores for their application.

Also, if you want to start saving money, we recommend that you learn how to create a budget. When you start budgeting, your financial life gets much easier to manage. Also, even if you have a good credit card that will help you start saving money, you have to be able to control your finances.

So, even if this is your first time dealing with your finances, it is better to start by understanding what are your needs and goals in life. Therefore, if you want some tips on how to create your first budget, check out our post below with 5 simple steps to start budgeting!

How to start budgeting: 5 simple steps!

Learning how to start budgeting doesn't need to be any harder than earning your money! Check out five simple steps to be on the right path.

Best credit cards for first savings 2021

To look for a credit card that can help you start your first savings this year, we recommend that you look for one with no annual fees. If you are a beginner, maybe think of getting secured cards. Secured cards can allow you to control how much you spend. With that, you can learn how to control your finances and save some more money.

Moreover, some credit cards can give you rewards and pay you back some money that you can use to start saving. For example, cashback credit cards and some other cards that do not necessarily give you specific rewards that are not cash you can use to save.

To help you start your first savings this year, we have prepared a simple but good list with 3 credit cards that can help you save money. So check out our list below!

First savings Credit Card

The First Savings credit card can help you control your money. Source: First Savings
The First Savings credit card can help you control your money. Source: First Savings

The First Savings credit card is basically made to give you the help you need to start saving money. Above all, building your credit score can also be a great thing to do alongside start saving money. In addition, this card can help you build your score. However, you need an invitation to get this card.

But, even though this card does not offer any rewards or cash back, it can be good to build your credit. Moreover, this card tends to approve people who have lower credit scores. In addition, the card has a low limit, so it can help you control your money a bit better to save it. And there is no security deposit required.

We have prepared a table to help you understand a bit more about the features of this great first savings credit card.

Credit ScorePoor credit score
Annual FeeIt ranges from $0 to $75
Regular APRFrom 16.40% to 29.9%
Welcome bonusThe card does not offer a welcome bonus
RewardsThis card does not offer rewards

Discover it Secured credit card

The Discover it Secured credit card can be great for first savings. Source: Discover it
The Discover it Secured credit card can be great for first savings. Source: Discover it

By using a secured card that offers cashback, you can save money on everyday purchases. The Discover it Secured credit card can be a great choice for people who are starting to save money. This card accepts poor credit scores and offers a welcome bonus and rewards.

Many secured cards do not offer rewards like the ones this Discover card does. And it even has a zero-dollar annual fee! Read our table below to see more features of this credit card.

Credit ScoreFrom 300 to 629 (poor)
Annual Fee$0
Regular APR22.99% variable APR
Welcome bonus*At the end of your first year of account opening, Discover will match all the cash back you have earned

*Terms apply
Rewards*Purchases made at gas stations and restaurants get you 2% cashback. Every quarter, you can get up to $1,000
On all other purchases, you get a 1% cashback

*Terms apply

How to apply for Discover it Secured credit card

The Discover It Secured credit card is an amazing credit rebuilding card. Read more to learn how to apply for this secured card!

Discover it Student Chrome Card

If you are a student, this card can be great for you to start saving. Source: Discover it
If you are a student, this card can be great for you to start saving. Source: Discover it

This other Discover it credit card can also be great to start saving money if you are a student. So, the Discover it Student chrome card offers cash back rewards that can help you save money on gas stations and restaurants. Moreover, the card also offers a zero-dollar annual fee that can save you a lot of money.

Therefore, if you already have a relatively average credit score and you want to start saving money, this card can be great for you. Check out our table below to know more about this credit card that can help you start your very first savings.

Credit ScoreAverage credit score
Annual Fee$0
Regular APR12.99% to 21.99% variable APR
Welcome bonus*This card offers a welcome bonus of an unlimited cashback match. At the end of your first year, Discover will match the cashback that you have earned

*Terms apply
Rewards*As a cardholder, you get 2$ cash back at gas stations and restaurants (you can get up to 1,000 dollars for combined spendings every quarter)

*Terms apply

However, you might need to improve your credit before you start saving. For instance, if you want to start saving after not having a good start on your financial life and you have bad credit. So, check out our post below about how to build credit using a credit card.

How to build credit using a credit card

Do you need credit? You can use credit cards to help you with that. Read more to see how to build credit using credit card in 4 easy ways!

About the author  /  Victória Lourenço

Victória Lourenço is part of the finance writer team for The Mister Finance website. She is a translator and copywriter, having worked on finance topics for over four years. She has a goal to keep studying finances to help people learn more about how to use their credit cards, make loans, and use other money-related products in a way that they can find a more meaningful and healthy financial life!

Reviewed by  /  Aline Barbosa

Senior Editor

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