Our pick for millennials: Blue Cash Preferred® Card from American Express
Up to 6%
Cash back
- $0 intro annual fee for the first year, then $95
- Huge cashback on groceries and streaming
- Intro APR on purchases
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Best credit cards for millennials
The right card can help you earn rewards or lower your debt.
With so many credit card options out there, it’s possible to find one that not only suits your financial needs, but is also tailored for your demographic. If you’re a millennial, for example, there are a variety of cards to choose from.
Best value for points transfers
Finder Rating: 4.7 / 5
Credit recommended (670-850)
Apply now
on Chase's secure site
Rates & fees
Best for lowering debt and earning rewards on purchases
Best for cashback rewards
Finder Rating: 4.7 / 5
Credit recommended (670-850)
Apply now
on Chase's secure site
Rates & fees
Best for families
Finder Rating: 4.3 / 5
Credit recommended (670-850)
Apply now
on American Express's secure site
Rates & fees
Best for online purchases
Best for dining and ridesharing
Your options include accelerated cash back on online purchases, on dining and travel or on groceries and gas. And if you’re stuck paying student debt or a credit card debt, you can save money on interest with a 0% intro APR period on balance transfers.
We compared credit cards which give millennials higher value on select purchases, such as streaming services, groceries and gas for new families or travel for the more adventurous millennials. But we also compared cards with 0% intro APR period on balance transfers to help you pay off your debt faster. The cards that had the perfect combination of these perks made it at the top of our list.
What are the best credit cards for millennials?
- Chase Freedom Unlimited®: Best value for points transfers
- Citi® Double Cash Card: Best for lowering debt and earning rewards on purchases
- Chase Freedom Flex℠: Best for cashback rewards
- Blue Cash Preferred® Card from American Express: Best for families
- Amazon Prime Rewards Visa Signature Card: Best for online purchases
- Wells Fargo Propel American Express® Card: Best for dining and ridesharing
Best value for points transfers
Chase Freedom Unlimited®
★★★★★
670
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
Up to
5%
Cash back
Cash back
$200
Welcome offer
Welcome offer
The Chase Freedom Unlimited® offers something that no other flat cashback card does — a higher reward redemption value when you transfer points to a Chase Sapphire card. This way even your base 1.5% cash back becomes either 1.87% or 2.25% toward travel purchases.
- Point transfer value. Transfer your points to one of the two Sapphire cards and get either 25% or 50% higher redemption value for travel purchases via the Chase Ultimate Rewards program.
- Intro APR period. Get 0% intro APR period on purchases for the first 15 months. A variable 14.99% to 23.74% applies once the intro period ends.
- Cash back. Earn 5% cash back on travel through Chase Ultimate Rewards and on Lyft through March 2022 and 3% back at restaurants and drugstores. You'll earn unlimited 1.5% back on all other purchases.
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 15 months (then 14.99% to 23.74% variable) |
| Balance transfer APR | 14.99% to 23.74% variable |
| Welcome offer | $200 after spending $500 in the first 3 months |
| Estimated welcome offer value | $200 based on Finder's valuation |
| Rewards | 5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases |
Best for lowering debt and earning rewards on purchases
Citi® Double Cash Card
670
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
Up to
2%
Cash back
Cash back
n/a
Welcome offer
Welcome offer
If you're stuck paying off your student debt or debt from another credit card — as so many millennials are — the Citi® Double Cash Card can help you save money on interest. You can use a long intro APR period on balance transfers, and when you have paid off your debt — you can start earning unlimited cash back on all purchases.
- Intro APR period on balance transfers. Get an intro APR period of 18 months for balance transfers you make within your first 4 months of card membership. Once the intro period expires, a variable APR of 13.99% to 23.99% applies.
- Cash back. Earn unlimited 1% cash back when you make a purchase and another 1% back when you pay it off. Combined, this brings your cash back to one of the highest flat rewards rates you can get.
- No annual fee. Save money and earn cash back without paying an annual fee.
| Annual Fee | $0 |
|---|---|
| Purchase APR | 13.99% to 23.99% variable |
| Balance transfer APR | 0% intro for the first 18 months (then 13.99% to 23.99% variable) |
| Welcome offer | N/A |
| Estimated welcome offer value | |
| Rewards | Up to 2% cash back on purchases (1% when you buy plus 1% as you pay) |
Best for cashback rewards
Chase Freedom Flex℠
★★★★★
670
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
Up to
5%
Cash back
Cash back
$200
Welcome offer
Welcome offer
With a generous cashback rate on a variety of categories, the Chase Freedom Flex℠ is hard to pass. What's more, you can earn a solid signup bonus and save money on interest with a long 0% intro APR period on purchases. And the best part? There's no annual fee.
- Cash back. Earn 5% back on travel purchased through the Chase Ultimate Rewards program, 5% back on Lyft rides through March 2022 and % back on up to $1,500 each quarter on rotating categories, and 1% back after that. Earn 3% back on purchases made at drugstores and restaurants, including takeout and delivery, and 1% back on everything else you buy.
- Signup bonus. Earn a $200 cash bonus after you spend $500 in the first 3 months.
- Intro APR period. Get 15 months of 0% intro APR period on purchases. A variable APR of 14.99% to 23.74% applies thereafter.
- Foreign transaction fees. Avoid using this card abroad or online with foreign merchants or you'll pay a 3% fee.
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 15 months (then 14.99% to 23.74% variable) |
| Balance transfer APR | 14.99% to 23.74% variable |
| Welcome offer | $200 after spending $500 in the first 3 months |
| Estimated welcome offer value | $200 based on Finder's valuation |
| Rewards | 5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases |
Best for families
Blue Cash Preferred® Card from American Express
★★★★★
670
Min. credit score
Min. credit score
$95
ongoing
Annual fee
Annual fee
Up to
6%
Cash back
Cash back
$150
Welcome offer
Welcome offer
New families that mostly spend money at US supermarkets, US gas stations, transit and on US streaming services, could find the Blue Cash Preferred® Card from American Express to be a valuable addition to their wallets.
- Cash back. Earn 6% cash back at US supermarkets on up to $6,000 annually, 1% cash back thereafter. You also earn 6% cash back at select US streaming services, 3% back at US gas stations and transit including rideshares, taxis, buses, parking and tolls. Earn 1% cash back on all other purchases.
- Welcome offer. Spend $3,000 within your first 6 months when you open your account and earn $150 back as a statement credit. Plus earn 20% back on Amazon purchases on up to $200 total during that same time frame.
- Intro APR period. Use your first 12 months of account opening for purchases with an intro APR. After that, a variable APR of 13.99% to 23.99% applies.
| Annual Fee | $0 intro annual fee for the first year ($95 thereafter) |
|---|---|
| Purchase APR | 0% intro for the first 12 months (then 13.99% to 23.99% variable) |
| Balance transfer APR | N/A |
| Welcome offer |
20% back on Amazon.com purchases in the first 6 months for up to $200 back, plus $150 statement credit after you spend $3,000 in the first 6 months
|
| Estimated welcome offer value | |
| Rewards | 6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases (redeem as statement credit) |
Terms apply to American Express benefits and offers.
Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Best for online purchases
Amazon Prime Rewards Visa Signature Card
670
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
Up to
5%
Cash back
Cash back
$100
Welcome offer
Welcome offer
Using this card, you can earn 5% cash back if you often shop on Amazon.com and at Whole Foods Market. In addition, this may be a solid option for your everyday purchases as you earn accelerated cash back at gas stations, restaurants and grocery stores.
- Cash back. Earn 5% cash back on your Amazon.com and Whole Foods Market purchases, 2% back at gas stations, restaurants and grocery stores and 1% back on all other purchases.
- Signup bonus. Get a $100 Amazon gift card as soon as your credit card application is approved. This means you can use the gift card before your physical credit card arrives.
- No annual fee. The card doesn't have an annual fee, but you need an Amazon Prime membership to apply and own the card.
| Annual Fee | $0 |
|---|---|
| Purchase APR | 14.24% to 22.24% variable |
| Balance transfer APR | 14.24% to 22.24% variable |
| Welcome offer | $100 Amazon Gift Card instantly upon approval |
| Estimated welcome offer value | |
| Rewards | 5% back at Amazon.com, Whole Foods Market and Zappos, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases |
The information about Amazon Prime Rewards Visa Signature Card has been collected independently by Finder and has not been reviewed or provided by the issuer.
Best for dining and ridesharing
Wells Fargo Propel American Express® Card
670
Min. credit score
Min. credit score
$0
Annual fee
Annual fee
Up to
3x
Points
Points
20,000
Points welcome offer
Points welcome offer
This is one of the rare cards that offers a huge variety of categories where you can earn 3x points. This includes eating out and ordering in, and rideshares.
- Reward points. Earn 3x points on eating out or ordering in
- fuel, rideshares and transit
- flights, hotels, homestays and car rentals
- and popular streaming services. All other purchases earn 1x points.
- Signup bonus. Earn 20,000 bonus points worth up to $200 in redemption value after you spend $1,000 in your first 3 months.
- Intro APR period. Get 0% intro APR period on purchases and balance transfers during your first 12 months when you open your account.
| Annual Fee | $0 |
|---|---|
| Purchase APR | 0% intro for the first 12 months (then 14.49% to 24.99% variable) |
| Balance transfer APR | 0% intro for the first 12 months (then 14.49% to 24.99% variable) |
| Welcome offer | 20,000 points after spending $1,000 in the first 3 months |
| Estimated welcome offer value | $200 based on Finder's valuation |
| Rewards | 3x points on dining, gas, transit, travel and streaming and 1x points on all other purchases |
What’s changed in 2021?
The Blue Cash Preferred no longer offers a 0% intro APR period on balance transfers. Despite that, it’s still one of the best credit cards for millennials.
After the 2021 update, the Chase Freedom Flex℠ has become a cashback behemoth. Because of that, it earned its spot on our list.
How to choose the best credit cards for millennials
To pick the right card for your needs, consider the following:
- Where you spend your money. Credit cards can be an excellent financial tool for earning rewards on select categories. If you’re starting a family, the Blue Cash Preferred® Card from American Express could be the way to go.
- Do you want to lower your debt? Rewards credit cards may not always be a good choice in such cases. But some cards, such as the Citi® Double Cash Card come with a combination of generous cashback rates and interest-free balance transfer options, which can help you pay off your debt faster.
How can you build up a good credit history with your first credit card?
If you’ve never had a credit card before, here are some tips to help you build your credit score:
- Use your credit card for your regular expenses. This includes your Internet, streaming subscription services and phone bill. If you use a credit card to cover these costs, you could earn rewards and demonstrate to lenders that you have the ability to repay your debts on time.
- Spend with a budget in mind. Set yourself a budget and avoid going over it. If your phone bill is larger than usual, perhaps cut back on other costs you’d regularly pay with your credit card.
- Set up automatic payments. It’s crucial to make sure you pay your balance in full before interest starts to accrue. Consider setting up automatic repayments from your debit card or a bank account to your credit card to make sure you pay on time.
- Avoid using your credit card when you’re low on cash. For example, if Christmas is coming and you can’t afford all of the gifts you planned to purchase, avoid using your credit card as a backup. Because if you don’t repay the money you spent on Christmas gifts before the interest kicks in, you could be charged interest and build up debt.
- Start off with a no-annual-fee credit card. There’s a vast choice of excellent no-annual-fee credit cards to choose, from cashback cards to airline and hotel cards. It won’t cost you anything to own such card, and you’ll get to use its benefits and earn rewards.
Alternatives to credit cards for millennials
Technically, just about any credit card can serve as a “millennial” credit card. It just comes down to your typical purchase needs. A secured card or student card, for example, are good choices if you need to build your credit. If you want to earn rewards on your millennial spending needs – say groceries or ride-sharing – a rewards card is a good fit. Before applying for a credit card, take stock of your finances and spending habits to choose the best card.
Compare credit cards for millenials
If you need a closer look at your millennial card options, select your credit score below and click “Show cards” to start comparing cards side-by-side.
Bottom line
With so many credit card options to choose from, consider where you spend most of your money and what kind of credit card you’ll most likely use.
If none of the cards above appeal to your financial situation, compare other credit cards to find the option that’s best for you.
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