You can get a credit card at 17 as an authorized user, but you have to be at least 18 years old to open a credit card account in your own name. In the meantime, you can begin to build credit as an authorized user, and you can always use a debit card for everyday purchases.
Can a minor get a credit card with a cosigner?
What Age Can You Get a Credit Card? But thanks to the Credit Card Act of 2009, cardholders under 21 must now have proof of independent income or a cosigner over 21 (and most card issuers don’t allow cosigners). And before turning 18, teenagers can’t have their own credit card, whether or not they have a cosigner.
How old do you have to be to get a credit card with a cosigner?
18 years old
You have to be 18 years old to get a credit card – even with a co-signer. If you want a credit card before age 18, your only option is to use someone else’s credit card account as an authorized user.
What age do you not need a co-signer?
Common Age Requirements In most states, you’re considered an adult at 18. This is also the minimum age you have to be to sign a contract. So 18 is the minimum age for a co-signer. However, most 18-year-olds do not have enough financial resources, credit history or job longevity to be co-signers.
How can I get a credit card at 18 without a cosigner?
Without a cosigner, those under the age of 21 who wish to obtain a credit card under their own name will need to have a regular income substantial enough to repay any credit card debt. At the same time, that income doesn’t necessarily need to be from a job, which can open up some doors — particularly for students.
Can a 16 year old get a credit card with a cosigner?
You can’t get your own credit card if you’re under the age of 18. But you can become an authorized user (more on that below). Even after you turn 18, the Credit CARD Act of 2009 states you’ll need to have either proof of independent income or a cosigner over the age of 21.
Do you need a co-signer to get a credit card?
Now it’s much more difficult to get a credit card if you’re under 21. One way to make it easier is by lining up a co-signer — someone who agrees to pay the debt on the card if you don’t. You aren’t necessarily required to get a co-signer under 21, but unless you have substantial income of your own, you may need one.
Can a 17 year old apply for a credit card?
Although underage individuals of 17 can’t apply for and receive a credit card, they do have a few options when it comes to using a credit card. They can get an adult co-signer, become an authorized user on their parents’ card, or opt to use a debit card that has a Visa or Mastercard logo.
How old do you have to be to get a credit card under your own name?
Specifically, the CARD Act requires that young people, ages 18 to 21, need to have either a cosigner or a verifiable income source to apply for a credit card under their own name. This can be particularly challenging for students, as grants, loans, and/or scholarships typically do not count as income sources.
Can You co-sign on a student credit card?
Most major credit card issuers don’t allow for co-signers, even on student credit cards. When an issuer allows for co-signers, you might have trouble finding someone to agree to co-sign. Being a co-signer means taking responsibility for someone else’s debts.
