CreditCards.com Visa credit cardsMasterCard credit cardsAmerican Express credit cardsDiscover credit cards

Thursday, April 24th 2014

ADVERTISEMENT

Card options for those under 18

By

Under 18? Sorry, no credit card for you -- at least not on your own. Laws generally forbid those under 18 from entering into contracts, and that includes applying for an individual credit card.  But there are still options for younger people who want to enjoy the convenience of plastic before they turn 18.

Young consumers can be added to an adult's credit card account as an authorized user. For an existing credit card account, the adult will need to contact the issuer and request to have an authorized user added. Alternately, young consumers may be able to get someone older to co-sign a credit card application for them. 

The danger in both cases is that they could hurt the credit of someone who did them a favor if any delinquencies occur. Additionally, any financial missteps by the authorized credit card user could harm the young person's credit score. So they need to be careful.

Meanwhile, some prepaid cards may allow individuals who are under 18 to apply with certain provisions. Applicants who are between 13 and 16 years of age will need parental consent to apply.  They're not credit cards -- they can be prepaid debit cards, or cards tied to a checking account.

Consumers should read the "terms and conditions" for various prepaid cards to see if they extend the opportunity to apply to those younger than 18.

If age 18 is just around the corner, consumers may want to wait and apply for a student credit card. Such a card will help them build a solid credit history through conscientious use and prompt payment of their bills.

Published: May 22, 2007


If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

Three most recent Student credit cards, young credit stories:

Share This Story




Follow Us!

Google+

Credit Card Rate Report

Updated: 04-24-2014

National Average 15.00%
Low Interest 10.37%
Balance Transfer 12.64%
Business 12.80%
Student 13.27%
Cash Back 14.84%
Reward 14.96%
Airline 15.30%
Bad Credit 22.73%
Instant Approval 28.00%

ADVERTISEMENT
ADVERTISEMENT
USA   |   UK   |   Australia   |   Canada
ADVERTISEMENT
ADVERTISEMENT