At What Age Can You Get a Credit Card?

By Rick

As younger members of the family start to mature and venture out on their own, the question of their first credit card inevitably comes up. Having a card will give them the convenience of being able to shop without having mom and dad along. It’s also a rite of passage in a credit sense and another important step on the road to adulthood. For parents and teenagers alike the question of “at what age can you get a credit card?” always comes up. The answer is a little complicated and presents several options for parents hoping to help their kids establish a good credit history.

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Eighteen (18) is a critical age for many reasons

The simple answer is that anyone hoping to secure a credit card on their own needs to be at least 18 years old to apply. The reason for this is that any younger than this prevents them from entering into a contract legally, making it impossible for a lender to enforce the terms of the credit card. Because of this, even if a person younger than 18 wants to secure a card and has their parents consent, no bank or other lender will issue credit directly to the minor.

Recent changes to the credit card laws have made it tougher for people under twenty-one (21) to now be issued a card. These protections stemmed from the practice of targeting students in years past that would run into trouble over time with new cards. The new legislation requires anyone under the age of 21 to prove they have an independent income and are able to repay any charges on the card. If the applicant doesn’t have a job at the time of application this law requires them to have an adult co-signer for the card that has the income to repay the charges.

Other options for younger consumers

Even with these tougher regulations, there are other ways for a younger person to tackle the credit card question with the help of an adult. With a willing parent the question “at what age can you get a credit card” becomes a little more flexible. For example, many credit card companies allow a cardholder to add others to their account. A parent could request an additional card in either their name or their children’s name that allows them to use the card. They would have their own PIN for purchases that would show up each month on the primary cardholder’s statement. This is a great idea as an emergency card for younger people to have in case of emergency.

Consider a secure card

One final option is a secured card. This type of credit card requires the cardholder to deposit funds into an account that the card is used to spend. From the merchants perspective the card acts just like a normal credit card and the spending limit is governed by the available balance in your account. In most cases this type of card can be easily secured by anyone 18 and older that can make a minimum deposit against the card. This is not only a good way to get started with credit cards; it also helps you establish a credit history you can use to apply for a more standard card in time.

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