Here are some things to remember when you shop for a credit card that will suit an 18-year-old. First, make sure that the interest rate offered is reasonable. Many credit cards come with high interest rates. These are usually expressed as annual percentage rate (APRs). If you're worried about paying too many interest, consider a card with a variable APR. You should also remember that your credit report will include your outstanding balances. High balances can affect your credit score. High balances can negatively impact your credit utilization ratio. This measures how much of your total debt you owe to total credit. Credit scores can be seriously affected if you have a credit score of 30 or more.
Capital One Venture X rewards Credit Card
Capital One Venture X Reward Credit Card for Young Adults can help you earn more without having to pay a steep annual fee. You will be able to get more travel rewards and not break the bank with its rewards program. You get a range of perks such as daily travel deals and tips that will help you save money while on vacation.
The Capital One Venture X rewards credit card can help you save on airfare. It's a great choice for frequent flyers. Capital One Lounges will grant you unlimited access, along with Priority Pass member lounges. Capital One purchases earn you three times as much miles than other credit cards.
Capital One Platinum Secured Visa Card
The Capital One Platinum Secured credit card for 18-year olds is a great way to get started building your credit. There is no annual fee and the card doesn't require any security deposit. You can also increase your credit limit with this card without needing to make another deposit.
You can apply for Capital One Platinum Secured credit cards online or at any of their branches. To apply, you must be 18 years old and have a valid Social Security number or Individual Taxpayer Identification number. Personal financial information, such as monthly rent and employment status, is also required. There are some other requirements that you must meet, such as not being under 18 or having no credit history.
Petal(r), Visa(r), and Credit Card
The Petal(r), 2 Visa Credit Card is a great option for students 18+. The secured card does not have an annual fee or foreign transaction fees. There is no penalty APR on late payments. It makes its money via merchant transaction fees and interest for revolving debts. You can maintain high credit scores by using this card to help you pay your balance in a timely manner.
Petal 2 Visa Credit Card: While most secured credit cards require you to make a security deposit for your application, this card can be applied without any security deposit. This card allows you to have a credit limit up to $300,000.
Chase Freedom Unlimited
The Chase Freedom Unlimited credit card is a good option for an 18-year-old who is just starting to build up his or her credit history. The card charges a low annual fee, and there are no foreign transaction fees. The card doesn't have any foreign transaction fees and charges no fees for purchases made abroad, including food. It can also help you build your credit score, which is important for the future. 15 percent of a person’s credit score is determined by how long he or she has been in credit.
The 18-year old credit card has a $0 annual cost and offers up 5% cashback on dining, travel and drugstore purchase. It also allows you to earn up to 1.5% cash back on all other purchases. It also allows you to add authorized users for no additional fee.