OT - First Credit Card

If you're exclusively looking to build credit and have little to manage or worry about, I'd suggest signing up for a bank acct at a local credit union, and getting one of their cards.  You'll have almost no fees and things will be simple.

If you want more out of your card, given that you'll be paying off the balance, I'd try and find a rewards program you like best.  I tend to go for cashback whenever possible.

Credit gets built regardless of what card you get.  Whatever you do, beware of rando fees that get tacked on.  That's how they make the easiest money.

Touchy ground.  If you without a doubt will pay your balance in full each month, the card with the best rewards (so long as there is no outrageous annual fee) will be the one you want.  Higher APRs associated with those cards won't affect you if you're responsible.

Don't fill out a bunch of credit apps though, each app requires a credit inquiry that downgrades your credit score further.  Not worth the free t-shirts (says a guy who worked through high school signing people up for Visas at Pistons and Tigers games). 

BUY EVERYTHING

American Express Blue is built to be a "first time card" and you can get pretty solid rewards, as they make industry specific ones - travel, etc.

look at the Chase Sapphire Preferred.  If you are a new chase customer and spend $3K in the first three months, you get 40K points which is like $400 cash back.  Use the rewards for something and you can cancel in the first year before you pay any fees.  It also feels sweet (its made of metal) and looks black at night at the bars. 

I have one through my Credit Union and I also have the Chase Amazon card.  I would highly recommend the Chase Amazon card.  There are no annual fees, and what better reward is there than Amazon gift cards?  You get triple points on all Amazon purchases, double points on gas and stuff, and regular points on all other purchases.  I use Amazon a lot, so it's the best option for me personally.  

Edit:  You don't redeem the points for gift cards, you apply the points directly to your Amazon purchases in the checkout at any time.  That means you don't have to accumulate a certain number of points before you can redeem them.  

You've received good advice to not get a promotion based card i.e. you're in a store and they offer you a card to save a certain percent. I love American express. They have cards that are no annual fee and some that require you to pay it of monthly which is a good way to learn on a credit card. Plus they have an app that makes it easy to look at my account and make payments. Maybe once every 6 months I'm somewhere that doesn't take amx, normaly a mom and pop place. Be wise and check out the interest rates and any attached fees.

I just went with the standard AMEX, knowing I'd pay the balance monthly. If you already have a Visa check card, having an AMEX covers a lot of your bases for places where credit cards are accepted. I've definitely been to stores/restaurants that only accept AMEX. The rewards aren't great, but, that's probably just because I don't spend a ton.

I'm sure there are plenty of horror stories out there for every card company, but if you pay your balance off monthly, which I do, look into capital one. I've had one of their mastercards for a year and never had a single problem.

I personally like the Amazon rewards credit card a lot.  

Get a card with no annual fee. Also, if you are truely going to pay if off monthly, get a card that offers cash back rewards. I've have a cc for 6 years and I always keep my balance at zero, this way I can maximize my rewards without having to pay any interest. However, the cc company will refer to you as a deadbeat since they are not making any money off of you.

 I prefer no rewards.  All it is is a temptation to spend just so you can move up the rewards ladder, even if you have plenty of hard cash on hand to just make the purchase straight up.  That being said, credit union CC's are a good way to go.  For the most part, they're no frills, but have low interest rates and little to no annual and/or maintenance fees.  Also,  if you're credit history is non-existent that you don't think you will get a high limit, you could look into a secured CC as well.  They're are a few that will actual pay interest on your initial deposit that you set your credit line with.

One last thing, look into setting up an account with creditkarma.com.  I use it religiously.  It's free and gives you an approximate idea of what your credit score is and among other things, will show you suggested credit cards and your approval odds of getting it based on your score.  Well, good luck and welcome to the dangerous world of the unsecured credit.

I have a discover card and a chase amazon card. I use them both. Discover will run special 5% bonus on certain items certain months. Plus you get extra cash back if you redeem for gift cards instead of directly for cash. Only do it if you're sure you'll spend the gift card though!

You are already building your credit score by paying on your student loans. 

Don't put more than, say, $50 on the card each month.  That way you can sustain a pretty bad unexpected financial hit and still pay the card off and cancel it. 

As others said, pay close attention to fees and exploding interest rates.

Remember that the credit industry (speaking very broadly) wants to get you in a hole and then have your balance mushroom due to fees and interest.

Side note:  You can get a copy of your credit scores with the three major agencies at AnnualCreditReport.com once per year without dinging your score (and for free). 

Another side note:  Review your statement each month and immediately dispute anything that you think is wrong in writing.  Keep a copy of your letter of dispute. 

Lots of good advice here (when is there not)

I've went with a two fold approach to the CC quandry. 

1 CC with my bank whom I have my checking/savings with.  This card has a low interest rate for those times when you just can not pay off the full balance. 

Chase Freedom card (though that Preferred above looks awesome) that I only applied for because I recieved $300 cash back on a $500 purchase so like Economics minor man gotta get that deal.  I've kept it around because their rewards program is actually pretty good but the kicker is the interest rate is higher than I would like.  

Best advice:

Dont get a store branded card

Pay off your balance every month

You do this and you will have no problems but once you start saying "Oh I'll pay this off next month" cut that card up man'o.  

With the best T-Shirt

Know that it will never last as long as your M-Card shirt.

Cockroaches will nest in those things long after the human race is dust in the wind.

Chase Freedom is what I have and I love it.

People who don't use credit cards in this day and age are stupid.  Very stupid.  I use my credit card at a business, and that business pays a processing fee.  That processing fee is how I get my "cash back rewards".  As long as I always make my (full) payment on time, I get 1%+ back on everything I buy.  

My first credit card was a secured credit card. Put a few hundred deposit on it and use it like a normal credit card and pay off the balance and build your credit. Easy peasy.

I get great cash back and pay my card off every month. I am 29 and have had it since I was 25. I've never paid a fee or a dime in interest and I've gotten over $1100 in cash back. I put everything on that card.

Me a MasterCard platinum from 5/3 bank. I'm in the same boat, never had a credit card but rather used a debit card (why buy something I'd you don't have the cash for it, right?)



Anyway, because I had no credit history I basically didn't qualify for anything. This card is only a $300 limit that I use for all the smaller things. I pay it off monthly. It will eventually allow me a card with better perks once I establish a good history. Just thought you may be interested

These older gents probably know more about finaces, credit cards, and the like more so than myself.  But as a fellow young person new to the "real" world such as yourself I have one piece of advice. For the love of god leave that credit card home if possible when you go out drinking.  Nothing worse than waking up to an outrageous bill because you had the means of buying more in attempt to get laid.  However, if you don't wake up alone...

I've had the Starwood AmEx for years now, and basically haven't paid for a hotel room in a major city in years as a result and get Starwood Gold status based on the amount spent on the card.  Since I don't have a car, the car rental insurance part of the AmEx has basically paid for my card fee every year before I even get to the hotel stays and the upgrades I've gotten out of having the Gold status.  Actually, since my wife hit something with a Zipcar and the AmEx insurance covered the money we would have otherwise had to pay out of pocket for the repairs, the card really has paid for itself. 

But if you don't plan on using the card much and whatever the extras are don't do much for you (be it gas credits, airline miles, the car insurance thing, hotel points, etc), just get something that doesn't have an annual fee.  The annual fee is really only worth something if you're getting something out of the card worth more significantly more than the fee. 

Personally, I put damn near everything on a card with rewards and pay it off every month.  You're buying the stuff anyway, may as well get something out of it.  However, if you don't have the discipline to use the credit card exactly as you would a debit card, don't do that.