Required Age to Obtain a Credit Card?
The age of teenagehood comes with new benefits and responsibilities like obtaining your driver’s license and gaining the right to cast a  vote during an election. There are some financial privileges, too, like being able to have a  bank account without your parents and getting your first credit card.
What age can you obtain a credit card?
You attain the compulsory age of 18 years to be eligible for a credit card. But it’s always very difficult most times to get a credit card at that age as well as getting approval.
While you can legally get a credit card as young as age 18, the law requires that you have your own steady source of income to qualify for a credit card. You need to have steady monthly income so you can make payments for charges you make on your credit card and avoid getting into credit card debt.
When you get your first credit card, it is better you find one mainly for students or a retail credit card. These cards are more likely to approve you even though you’re just starting out. A secured credit card, which requires you to make a deposit against the credit limit for the account, is another good option for getting your first credit card at age 18.
The Discover it Secured and Capital One Secured MasterCard are two great secured credit cards for starting out.
Below 18 years of age –ÂObtaining a card
One way can obtain a Credit Card while you are still below the 18 years requirement is if an adult adds you as an authorized user to his/her credit card.
As an authorized user, you’ll have a card with your name on it that you can use to make purchases. The real owner of the account is responsible for making the payments, however, it is expected that you cover for the purchases you make on the account.
A Â prepaid card is also obtainable under the age of 18. A prepaid card isn’t a credit card, but similar to it. It’s similar to the way a debit card is connected to a checking account, but the application process for a prepaid card is much easier. With a prepaid card, you have to prepay any purchases you make on the card, and also making payments for the purchases after you make them. A prepaid card doesn’t help you build a credit history.
It’s not necessary you must obtain a Credit Card at 18 years. Credit cards carry a high risk of debt and obtaining a credit card without being ready for it puts you at risk of damaging your credit history before you ever really get a chance to get started. It’s better to wait a few years until you have a steady job and can consistently afford to make your credit card payments on time.
Required Age to Obtain a Credit Card
