Approved for Credit Card at 18 Years Old – Here is How to Do That

Approved for Credit Card at 18 Years Old – Here is How to Do That

It’s very legal for you to obtain a credit card at 18 years old, however, it’s now difficult now even for adults to obtain a credit card as it used to be. A law has now been put in place requesting credit card issuers to ensure young adults under 21 have the necessary ability to make payment for a credit card balance. Or else the young applicant has to get a co-signer.

Pick up a Job | Approved for Credit Card at 18 Years Old

Credit card income requirements actually go beyond young adults. Whoever applies for a credit card whether young and old, must have enough income to be eligible for the credit card, even if they have fault free credit. No specific income was stated to be eligible but credit card issuers have their own secret guidelines that vary by credit card. Your rejection of it would be because of your insufficient income to qualify, but then a mail would be sent to you with an explanation.

Get a Co-signer

If on your own you find it difficult to be qualified for a credit card, you can as well get someone above 21 years of age to Co-sign your credit card application. Him/her has to meet the qualifications for you both to be approved. Afterward, you and the co-signer will be jointly responsible for the credit card balance, Regardless of the card being used by one person. The way and manner your joint credit card is treated will have either a negative or positive effect on your cosigner’s credit history. If either of you become careless with the credit card, your respective credit histories will be affected.

Approved for Credit Card at 18 Years Old

You can plead with Someone to grant you access to his credit card

Someone who is an authorized user is just like having a joint credit card with a co-signer. The difference is that being an authorized user, you won’t be held responsible for the balance. your credit report has no business with the payment history and can subsequently assist you in obtaining your personal credit card. if the card issuer uses a credit checking device that accepts authorized users, the outcome ignores authorized user accounts.

Make an effort to use  a Secured Credit Card – Approved for Credit Card at 18 Years Old

If you have a means to obtain a credit card, but you’re been hindered due to your lack of credit history, then make a decision to obtain a secured credit card. You will be asked to make a cash deposit as collateral against the credit limit. You would still responsible for making payments toward the balance you incurred over time. Your deposit is meant to be used on your failure to meet the credit card balance. your card can be changed to a frequent credit card It though varies with card issuers if your card is well-managed l for 12 to 18 months.

Start using a Prepaid

A prepaid card does not work like a credit card, a good credit score cannot be obtained using it and payments or rather purchases cannot be made except you have cash balance on the prepaid card. However, if you only request for a device that takes the form of credit card, for instance, to book a hotel, rent a car, or make gas purchases at the pump, a prepaid card is a very good option. It doesn’t have credit criteria, a deposit is required to get the card activated and more funds will have to be reloaded the moment the cash balance is exhausted.

Approved for Credit Card at 18 Years Old

 

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