Can I open a credit card as a student?

Yes, you can get a credit card at 17 as an authorized user on someone else’s account. But you have to be at least 18 years old to open a credit card account in your own name. And when you turn 18, you’ll need to show that you have your own independent income to qualify. In the meantime, you can begin to ... read full answerbuild credit as an authorized user, and you can always use a debit card for everyday purchases.

Alternatives to getting a credit card if you’re 17:

• Become an authorized user: If someone makes you an authorized user on their card, the account will be added to your credit report. And if the main accountholder pays the monthly bills on time, your credit score will improve. The main accountholder may or may not decide to give you a card that you can use to charge purchases to the account. But you won’t be responsible for making payments either way.
• Get a debit card: Most banks will give you a debit card connected to your checking account. You’ll be spending your own cash, not borrowing money. So, you don’t need to be 18 to get one. Different banks have different rules, but most require you to be 13 or 14 years old. You won’t build credit with a debit card, but having one can make life more convenient until you turn 18.

So, keep in mind that you can’t get a credit card at 17, at least not one of your own. But if you find someone to back you, then you can start building credit right away. And in just a year, you’ll be eligible for student credit cards, secured credit cards, and other options for people new to credit.

The minimum salary for a credit card depends on the specific card, but you may be able to get approved for a credit card with an annual salary as low as $10,000 or so. While there is no official minimum salary requirement for a credit card, issuers are still required to ensure that applicants can afford monthly payments. As a result, your chances of approval are better with a ... read full answerhigher income.

Credit card issuers’ minimum annual income thresholds are often hard to find, as most major issuers do not publicly disclose their requirements. Some do, however. For example, Capital One states in its application terms that a monthly income of at least $425 more than your monthly home payment is required to qualify for its credit cards.

Key Things to Know About the Minimum Salary for Credit Cards

Annual income is not limited to salary from a job

Your annual income may include salary from a job, along with things like retirement benefits, rental income and investment returns. It’s imperative that the income you report on the application is accurate. If you knowingly enter false or misleading information on a credit card application, you are committing credit card fraud, which is a federal crime.

Your age determines what you can report as annual income

Applicants under 21 years old can only report independent sources of income on a credit card application. Employment compensation, investment income, and even a regular allowance qualify, but a parent’s income does not.

If you’re over 21, you may include another household member’s income on the application, such as a spouse’s salary and other compensation if you have reasonable access to those funds.

Credit card requirements extend beyond salary and income

While salary and income requirements are a key consideration when you apply for a credit card, they’re just part of the equation. Credit card issuers will also look at your credit history, credit utilization, any recent inquiries and more when they review your application.