You had to be at least 18 years old to apply for the DFCU Student Visa Platinum Card. But, you can get the card at 14 years old as an authorized user on a Michigan resident’s account, per Michigan (and federal) law. This card, though, is not available anymore.
Generally, you need to be at least 18 years old to apply for your own credit card account. And since the Credit CARD Act, applicants under the age of 21 must have independently verifiable income (i.e. not a parent’s income) or a cosigner with sufficient income. The cosigner, who must be 21 or older, would share responsibility for any debt incurred on the card.
You can get a credit card at 14 as an authorized user, but you have to be at least 18 years old to open a credit card account in your own name. When you turn 18 years old, you’ll also need to show that you have your own independent income in order to qualify for your first credit card account. 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.
Most 14-year-old authorized users won’t have much of a choice when it comes to which card they use, but if a young person’s parents happen to have one of the following credit cards, the arrangement could lead to outsized savings.
Best Credit Cards for 14-Year-Old Authorized Users
So, to recap, you can’t get a credit card at 14, 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 four years, you’ll be eligible for student credit cards, secured credit cards and other options for people new to credit.
The only way to get a credit card when you’re under 18 years old is to become an authorized user on an adult’s credit card account. You cannot get your own credit card account until you turn 18 and you’re able to demonstrate enough independent income to make monthly bill payments. But being an authorized user will help you … read full answerbuild credit in the meantime, as long as the primary accountholder pay the bills by the due date.
Here’s how to get a credit card under 18 (and other options):
Become an authorized user: If you know someone else who has a credit card (like your parent) you can become an authorized user on their credit account. You’ll get your own card that’s connected to the cardholder’s account, and any purchases you make will show up on their statement. The cardholder is also responsible for paying. This is a great way to build credit, although you won’t build it as quickly as you would with your own card.
Take out a loan. Credit-builder loans are sometimes available to people under 18 who have a cosigner (someone with established credit who takes responsibility if you default). But it will be more difficult than getting a loan at age 18.
Just use debit. You can’t build credit with debit cards, but they can make everyday spending more convenient. And there’s no need to worry about going into debt because you’ll be spending the money from your checking account, not borrowing anything.
You’ll definitely need to wait until you’re 18 to get a credit card account in your own name. But being an authorized user is still a very useful way to build credit and practice using a credit card responsibly. Then, once you turn 18, you’ll already have some credit history and may be eligible for better offers right off the bat. And you can track your progress with WalletHub’s free daily credit score updates.
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