Should teens have credit cards?

Yes, you can get a credit card for your teenager by making them an authorized user on one of your credit card accounts, or by helping them apply for their own credit card if they are 18 or older. For teens under the age of 18, becoming an authorized user on someone else’s account is the only way to get a credit card.... read full answer

Best Credit Cards for Teenagers

• Petal® 2 Visa® Credit Card
• Capital One SavorOne Student Cash Rewards Credit Card
• Chase Freedom® Student credit card

Ways to Get a Credit Card for Your Teenager

Make your child an authorized user on one of your credit card accounts.

Adding a teenager as an authorized user on your credit card account is the easiest way to help your teen build their credit. It’s easy to do, and usually it’s free, too. Your child will get their own credit card with their name on it, and purchases made with their card will come out of your account’s credit limit. All the bills will have your name on them, too, and you’re the only person who will be responsible for paying them.

As long as you pay your credit card bills on time, your child’s credit score will benefit from the card, even if they never use it. If you don’t pay your bills on time, your child will be able to successfully dispute the account and get it removed from their credit report.

Help your teenager apply for their own credit card if they are 18 or older.

If your teen is old enough and has the independent income required to make monthly bill payments, you can help them pick the best credit card to apply for. In most cases, this will be a student credit card, but there are plenty of other good starter credit cards to choose from as well.

It’s important to note that applicants who are under 21 years old can only list independent income on a credit card application. For example, they cannot include income from their parents, unless the money is in a shared account that the teen has access to.

No, you cannot get your own credit card at 15. Anyone under the age of 18 is prohibited from entering into a legally binding contract such as a credit card agreement. But there are some credit cards that permit minors to become authorized users on a parent or other adult’s credit card account.... read full answer

Nearly all credit card issuers allow minors to become authorized issuers (with Synchrony, it varies by card), but some have minimum age requirements. Barclays, American Express, and U.S. Bank require an authorized user to be at least 13 years old. Bank of America, Capital One, and Chase are some of the major issuers with no age limitations.

Here’s what you should know about getting a credit card at 15:

• The only way to get a credit card at 15 years old is as an authorized user on someone else’s account.
• An authorized user can get a credit card, if the primary accountholder allows it. However, the primary cardholder, not the authorized user, is ultimately responsible for paying the bill.
• Reloadable debit cards, prepaid cards, and gift cards won’t give you a loan or help you build credit, but they can be useful to have for emergency spending purposes.

Discuss the basics of personal finances and credit cards with any minor you are considering adding as an authorized user. That way, they will better understand the rules and purpose of having a credit card.

Yes, you can get a credit card at 14, but only as an authorized user on someone else’s account. 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.

Notable Credit Cards for 14-Year-Old Authorized Users

So, keep in mind that 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.