Can a 12 year old have a credit card?

Yes, you can add your teenager to your credit card as an authorized user, but the teen’s age will matter to some credit card companies. American Express and Discover require authorized users to be at least 15 years old, for example, while U.S. Bank requires them to be 16. But lots of credit card companies do not have an age requirement for authorized users, including Chase, Bank of America, Citibank, Capital One, Wells Fargo, USAA, Navy Federal Credit Union, PNC Bank, TD Bank, and First National.... read full answer

Since minors under the age of 18 cannot legally open their own credit cards, adding your teenager to your credit card account can help both you and your teenager, as long as you manage the account responsibly. Your teen will begin building credit history, even if you never hand them a card. And if you do decide to give them a card, they could learn some great early credit lessons – with your tutelage, of course. Plus, if you add your teenager to a rewards credit card, whatever the teenager spends will add to your rewards.

That said, there are plenty of ways for this scenario to go badly, too. If you give your teenager a credit card, there’s a real possibility that they’ll use it to buy things you’d never authorize them to buy, and you’ll be on the hook for the charges. Or, if you don’t use your account responsibly, all the negative information added to your credit report will also end up on your teenager’s report if they’re an authorized user. The damage doesn’t have to be permanent, though. Authorized users have the right to request removal from the account and dispute the negative information, which will remove that information from their credit report.

Plus, if you make your payments on time and make sure your teenager knows what the card should (and shouldn’t) be used for, you’ll likely avoid the pitfalls.

You should get a credit card when you’re around 12 years old, as an authorized user on one of your parent’s credit cards. Even though you must be at least 18 to apply for a credit card on your own, there is no legally mandated minimum age to get one as an authorized user. It will give you time to build a credit history and set yourself up for great interest rates when you need to borrow large amounts in the future. While some issuers have their own ... read full answerage requirements, the sooner you become an authorized user, the better.

If you couldn’t become an authorized user before the age of 18, your best bet is applying for a secured or student credit card as soon as you turn 18. Just keep in mind that the CARD Act of 2009 emphasizes that under 21’s need to show they have enough independent income to afford a credit card. But irrespective of age, it’s not a good idea to apply for a card if you can’t afford it anyway.

In case you’re older, it’s not too late to apply for a credit card. Feel free to check out some of the best starter credit cards and pick one according to your individual needs. And if you already managed to build good credit or better through other credit accounts, have a look at some of the best credit cards on the market.

There are plenty of good reasons to get a credit card and if you manage your account responsibly, credit will play a positive role in your finances. Most credit card applications will trigger a hard inquiry on your credit report, which can cause a dip in your credit score. So make sure you are aware of the card’s approval requirements. And if you don’t know where you stand, you can check your credit score for free, right here on WalletHub. Feel free to also use WalletHub’s CardAdvisor tool to get personalized credit card recommendations.

The best way to get credit cards for minors is to add them as an authorized user. A minor cannot get their own credit card account. You must be at least 18 years old to do so. But all major credit card companies allow customers to get authorized-user credit cards for minors. Many don’t even have a minimum age for authorized users.... read full answer

An authorized user is granted access to another person’s credit card account. The user can make purchases on the account and build credit. But they will not have to make monthly payments. The primary cardholder is responsible for all transactions charged to the card, including those made by an authorized user.

A parent can add their child as an authorized user as soon as they think the child is ready to learn about financial responsibility. Or, they could add them even earlier than that and just not allow them to use the card. That way, even an infant could build credit history. And once the minor does get spending access, the primary cardholder can usually set limits on the user’s spending.

Adding a minor as an authorized user is simple. You’ll need only the minor’s name, birthdate, and in some cases, Social Security number. Make sure you and the minor you’re thinking of adding to your account are aware of the potential benefits and risks of authorized users before you add them.

Here’s the best way to get credit cards for minors:

1. Add the minor as an authorized user. Becoming an authorized user is the best way to get credit cards for minors. Legally, minors are unable to get their own credit card.
2. Check age requirements. Most issuers don’t have an age restriction for authorized users. Amex has a minimum age of 13 years old, depending on the card. Barclays sets its minimum age at 13 years old. Discover and U.S. Bank require at least 15 and 16 years old, respectively.
3. Keep transactions separate. Consider adding an authorized user to a credit card you don’t use all that often. That makes it easier to monitor the minor’s spending.
4. Monitor credit activity: When an authorized user gets added to a credit card account, the card activity goes on their credit reports. If the minor has no previous credit history, their first credit score will be generated within the first six months. The score depends on how responsibly the card is used.
5. Don’t miss payments or pay late: Missed payments cause credit score damage for both the primary cardholder and the authorized user. But authorized users can dispute accounts with negative information to have them removed from their credit reports.

An authorized user is limited to making purchases on the account. They typically are unable to do balance transfers or take out cash advances. Only the primary cardholder can make changes to the account like requesting a credit limit increase or adding additional users. The primary cardholder can call the issuer’s customer service department to remove an authorized user from their account. An authorized can be removed for any reason.

Becoming an authorized user is the only way to get credit cards for minors in order to establish credit. Once an authorized user is no longer a minor, they can add their own credit card account to the mix.

Shoot for one with high approval odds and a low annual fee. People applying for their first credit card at age 18 should consider cards for no credit or secured cards if they don’t have credit history already. College students can also consider student cards, which give better terms because of students’ higher earning potential.