Yes, an 18 year old high school student can get a credit card, as long as they meet the card’s minimum requirements. While most credit cards accept applications from anyone who is at least 18 years old, there are also other requirements taken into account, like credit history and income. Whatever your situation, there are several options available for all credit ranges, so make sure to check out some of the best credit cards for 18-year-olds.
While anyone who is at least 18 can technically get a credit card, the Credit CARD Act of 2009 emphasizes that applicants under the age of 21 need to show that they have enough independent income to afford a credit card. That means enough to make at least the minimum payment. The applicant's other debts and monthly expenses will also be taken into consideration.
What if my income isn't enough for a credit card?
If you're unable to meet the income requirement, you may be eligible to apply for a credit card with a co-signer who has the means to afford a credit card. More importantly, a co-signer must be someone you trust, and vice versa. When a person co-signs for a credit card, they are ultimately responsible if you don't keep up payments on the account.
Another option is to sign up as an authorized user on another person's existing credit card account. As an authorized user, you have the primary cardholder's consent to use their credit card. You'll have your own card with your name on it, along with full access to the card's available credit limit.
You'll also be able to build your credit based on the primary cardholder's good credit. The primary cardholder is liable for any purchases you make on the card, and as their credit profile continues to grow, yours will also improve. The flipside of that is, if any negative information shows up on the primary cardholder's credit report, your credit report will also be affected.
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