As a student in college, having a credit card is a great way to start building your credit score. Paying your monthly balance and using your card responsibly are key ways to start. Using your student credit card to build credit and maintain a good payment history can pay off tremendously in the long run.
What should high school students know about credit cards?
We could write volumes about this topic, but here are the most important points:
- Use the card regularly. An active account does more for your score than one that’s unused.
- Keep your balance low. We recommend that you pay your credit card bill in full every month.
- Pay your bill on time.
Is it a good idea to get a credit card at 18?
CNBC Select reviews why experts recommend getting a credit card at age 18 and how to protect your credit score as a new cardholder. And a good place to start is by opening a credit card at 18, so you can start building credit at an early age and developing good money habits.
Can a high school student have a credit card?
There are several credit cards you can get if you are a high school student and you are at least 18 years old. But until you are 21 years old, you need to either have a proof of steady income that demonstrates your ability to pay back the debt, or have a co-signer who is at least 21 years old on the application.
Which credit card is best for high school students?
Here’s a Summary of Best Student Credit Cards
- Bank of America® Travel Rewards credit card for Students.
- Discover it® Student Cash Back.
- Bank of America® Cash Rewards Credit Card for Students.
- Discover it® Student chrome.
- Chase Freedom® Student credit card.
- Deserve® EDU Mastercard for Students.
Why is it good to have a credit card as a teenager?
Teens armed with a credit card don’t have to carry cash, and don’t need to ask mom and dad for money. Having a credit card also gives them more flexibility to handle emergencies, such as car breakdowns. Control. All purchases made on the card show up on the statement, so parents know exactly where the money is going.
