Hi! I think it’s a great idea. We co-signed for low credit limit credit cards for both our children when they got their driver’s licenses. I felt that they should have ready access to emergency money once they were out driving. They also used the card to buy gas. The card was not for other “fun” personal use – except when I need them to pick up milk on the way home! – but I always felt safer knowing they had a card. They also used the card to pay for things they signed up for like the SAT and ACT fees and stuff like that.
You may not be able to get a credit card on your own at 19 and may need to ask a parent to co-sign, but I strongly recommend it if you can get one on your own or if your parents will help. When you make minimum payments on time or better yet pay the card off each month, you will be building your own credit for when you are older and want to buy a car or a home.
You sound like a very responsible 19 year old - I doubt there are too many young people writing to WalletHub about money issues. That is so cool and bodes well for you to have a lucrative financial life. Best wishes to you and thanks for writing!
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