Eighteen can be a liberating age. You're legally an adult. You can vote. You may be going to college soonif you're not already there. And, you can get a credit card.
As eager as you may be to get your first credit card, many credit card companies aren't so eager to give you one. Rather than putting in several credit card applications to see who's going to approve you, target just a few companies that are known for giving credit cards to first-timers.
Make sure you're ready for your first credit card.
Being old enough to qualify for a credit carddoes not mean you’re ready for one. You need to be responsible enough to charge only what you can afford and to pay your bill every month without being reminded. Getting your first credit card before being fully prepared can spell disaster for your credit. Once your credit is damaged, it can be difficult getting it back on track.
Don’t set yourself up for failure; learn all you can about credit cards before getting one. If you're not ready, there are steps you can take to get there.
Understand the credit card landscape for young adults.
Getting approved for a first credit card can be tough, especially if you're younger than 21 and more so if you don't have a job.
Federal law requires adults younger than 21 to have verifiable income before they can be approved for a credit card without a cosigner. Income must be from a job. However, child support or government benefits may allow you to be approved.
If you don’t have income, then you’ll have to find someone who’s willing to opena joint credit card with you or make you an authorized user on one of their credit cards.
Another thing that makes it tough to get a first credit card is insufficientcredit history.
If you're enrolled in college, you have a good chance of getting approved for a student credit card from a major credit card issuer. However, some student credit cards have high interest rates and annual fees, both bad options for a first credit card.
If you've been responsible with a checking or savings account, try applying for your first credit card at your bank. An existing banking relationship can improve your chances of getting a credit card application approved, especially if you’ve handled your account responsibly. You can apply online, but visiting a bank branch would put you face-to-face with a representative who may have more authority to get your application approved.
Retail and department stores typically have more favorable approval odds.On the downside, they have high interest rates that make it expensive to carry a balance from one month to the next. Another downside of these cards is they aren't versatile—you can use them only in that store. However, retailers often encourage spending by offering discounts for using the card, and having a retail store credit card as your first credit card can help you build up a good enough credit history to apply for a major credit card within a few months.
Look for cards that target moderate or limited credit.
Certain credit card websites list the type of credit history needed to get approved. For a first credit card, look for credit cards that accept applicants with moderate or no credit. Applying for cards that are geared toward your specific credit history improves your chances of getting approved. Avoid applications for credit cards requiring excellent credit, because you probably will get denied.
Ask someone for help.
You may have a relative—a parent, for example—who’s willing to help you get your first credit card by cosigning with you. Cosigning is risky—any mistakes you make will affect yours and the cosigner's credit—but it can be a good way to jumpstart your credit. Agree upfront that you’ll be responsible for making the payments on time each month and that you'll abide by all the credit card terms. Then, consider closing the joint account once you can qualify for a credit card on your own.
Don't be discouraged by denials.
Don't be surprised if you're denied for the first credit card you apply for—or the first few credit cards you apply for. Even people with established credit histories are sometimes denied. It may be helpful to know that you’ll get a letter,anadverse action notice, in the mailthat includes the specific reason you were denied. The information in this letter will be useful in planning your next step. You may need to apply for a different type of credit card or jumpstart your credit by using a secured credit card.
Frequently Asked Questions (FAQs)
How old do I have to be to get a credit card?
You have to be at least 18 years old to get a credit card, and Chase Bank warns that it may be difficult before you reach at least age 21. It can depend on whether you have a reliable and dependable source of income.
What is a secured credit card?
You can apply for a secured credit card if your lack of a credit history keeps you from getting a standard card. You must make a deposit with the lender, usually equal to the credit limit on the account. The bank holds the deposit and can claim the money if you don't make your payments as agreed. You may have the chance to convert it to an unsecured credit card later on. Be sure that the card issuer reports payments to the credit bureaus so you can build a credit history and eventually get an unsecured credit card.
Requirements to get your first credit card account
You must show proof that you can make the payments. You must have an established credit history OR choose a student/secured card. For secured cards, you must put down a security deposit. You must understand the terms and benefits of your credit card.
One option for an unsecured credit card for an applicant with no credit history is a student credit card. Student credit cards don't require a deposit like secured cards do, and usually function more like a regular credit card.
In fact, there are specific options made especially for new credit card users who are working to build their credit. "Secured" credit cards are often the best choice for anyone trying to establish credit for the first time. A secured card means that a security deposit is required.
If you don't have much experience with credit or have negative factors weighing you down, such as late payments in your credit history, you may have difficulty receiving approval for a new account. If you do receive approval, you'll likely receive less favorable terms.
Common reasons include a high debt-to-income ratio, a low credit score, insufficient monthly income, a limited credit history or delinquencies. Once you know why your application was denied, you'll know what to work on.
Starter credit cards are typically meant for people with little to no credit history looking to build a credit profile that may help secure future loans, such as an auto loan or mortgage.
It's possible to get a credit card with no credit. You might consider applying for a secured credit card, student credit card or retail store credit card to help establish and build your credit.
The best credit card overall is the Wells Fargo Active Cash® Card because it gives 2% cash rewards on purchases and has a $0 annual fee. For comparison purposes, the average cash rewards card in 2024 gives about 1% back. Cardholders can also earn an initial bonus of $200 cash rewards after spending $500...
Paying off the debt on the card with the highest interest rate first is one method to reduce credit card debt. This is called the “debt avalanche method.” While some advocate for paying off your smallest debt first because it seems easier, you may save more on interest over time by chipping away at high-interest debt.
Things to look for when choosing your first credit card
Low intro APR: A student or starter credit card may have higher interest rates than regular credit cards but you may benefit from finding a credit card with a low introductory APR offer. ...
Low fees: Look for cards that have low annual fees.
Technically there is no minimum income, although credit card companies are legally required to ensure the applicant's income will be sufficient to support the card's monthly payments. They will also look at other factors like your credit score. Can you lie about your income on a credit card application?
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Introduction: My name is Madonna Wisozk, I am a attractive, healthy, thoughtful, faithful, open, vivacious, zany person who loves writing and wants to share my knowledge and understanding with you.
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