How Old Do You Need to be to Get a Credit Card? 2017-10-23T15:47:08+00:00

How Old Do You Need to be to Get a Credit Card?

Better Credit…Better Options

That little piece of plastic most of us carry in our wallets is considered to be essential these days, and seemingly not just for adults. There are plenty of teenagers hoping to get their hands on one too. This is quite understandable, as credit cards are far more convenient than cash and in most cases they can be safer as well, as long as a consumer knows how to use the card wisely. Credit cards receive some protection from federal law, so this adds an extra layer of safety that cash simply can’t provide. But if you are a young person seeking a credit card, how do you qualify for one?

The first consideration before applying for a credit card is that the applicant should be over 18 years old. This might be a disappointment for some, but the rules are there for a reason: owning a credit card entails a lot of responsibilities.

It’s also essential that you have a job or a regular source of income so you’ll have the capacity to pay back what you borrow. For sure, once you meet these two requirements you will be swamped with many offers from credit card companies. But again it’s not as easy as you would think. Even if you get numerous offers, you will still have to prove to your creditors that you have the capability to repay whatever you borrow.

When utilizing a credit card, it’s important to remember that many of the purchases you make with your card will be reported to the main credit reporting agencies. These agencies will record the manner in which you paid for these items, and also whether or not you were able to pay back the lenders in a timely fashion. If you do qualify for a credit card, your initial credit limits will likely be rather low. But if you pay your bills on time, this limit may be increased over time. And when you apply for other cards, your spending limit may be higher because your creditscore will be taken into account.

Start today by calling toll free: 888-799-7267 (SCORE)

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