To get a credit Card how old do you have to be? As we grow older, we gain more responsibilities. One of there is getting a card. Are you a teenager or in your early twenties? Do you need a card? How old do you have to be in order to get one?
To Get A Credit Card How Old Do You Have to Be ? How old should you be to get card?
The federal law demands that you must be at least 18 years old to get a credit card by yourself. However, it’s not easy to apply for a card and get approval at this age. This is because to get a card, you must have a stable source of income to pay back your debt. If you do not have this, you will not gain approval.
Moreover, for your first credit card, apply for students or a retail credit card. These cards will easily approve you. Apply for a secured card. You will make a deposit against the credit limit for the account, it will as well help you build a credit history. The Discover it Secured and Capital One Secured MasterCard are two great secured credit cards for starting out. You will greatly enjoy using them.
How To Get a card under age 18
If any of your parents or any other close adult adds you as a co-applicant, you can get a card under age 18. After becoming an authorized user, you’ll have a card with your name on it for making transactions. Even though the primary account holder is responsible for making the payments, be responsible and spend wisely. This will help you build a positive credit history and enhance your chances of being approved for your own card in the future.
Furthermore, you can also get a debit or prepaid card under age 18. The card is connected to a checking account which you already have money in. This kind of card does not help in building credit score.
Conclusively, you must not get a card at 18. Handling a card comes with a lot of responsibilities. Take your time to decide, do not rush it. Go for it when you have a stable source of income and when you are sure that you have a high chance of getting an approval. Get a credit card when you are sure you are responsible enough to use it without incurring unnecessary debts here and there.