Can a minor get a credit card? (2024)

Can a minor get a credit card?

It's possible to get a first credit card at a young age by becoming an authorized user on a parent's account, but the legal age to apply for your own credit card is 18. 18- to 20-year-olds must apply with a co-signer (which not all banks allow) or with proof of income.

Can you get a credit card at 16?

It is possible to get a credit card at 16 by becoming an authorized user on an adult's credit card account. To get your own credit card, you'll need to wait until you're at least 18, and even then, you'll need to prove you have independent income or get a cosigner.

What is the youngest age to get a credit card?

How old do you have to be to get a credit card? You can be an authorized user as young as 13, but you have to be 18 to sign up for your first credit card on your own.

Can you open a credit card account for a minor?

Kids younger than 18 can't open their own credit card. But they may be able to become an authorized user on someone else's credit card account. An authorized user is someone a cardholder has permitted to use their account.

Can I get a credit card in my child's name to build credit?

Because people under age 18 can't open their own credit cards, you can't technically open a whole new credit card in your child's name — but you can still add them to yours. Adding someone to your account turns them into an authorized user, which gives them many of the same perks you have as the primary cardholder.

Can a 14 year old have a credit card?

Until they turn 18, becoming an authorized user is typically the only way your teen will be able to get access to a credit card. Most credit card issuers allow cardholders to add their teens as authorized users.

Can I get a credit card at 16 with Chase?

If you want a card and you're under 18, you can have access to a card by becoming an authorized user on someone else's card (typically a parent or legal guardian). Some issuers have minimum age requirements for becoming an authorized user.

How do I build my child's credit?

How can I build my credit at 16?

Can I get my 5 year old a credit card?

It's possible to get a first credit card at a young age by becoming an authorized user on a parent's account, but the legal age to apply for your own credit card is 18. 18- to 20-year-olds must apply with a co-signer (which not all banks allow) or with proof of income.

Can I use my child's Social Security number for credit?

They may think it's okay to use their child's identity temporarily. But if you don't pay it back, you will damage your child's credit score and set them up for financial hardship when they reach adulthood. The law remains the same, regardless of the circ*mstances.

How do I get a credit card in my child's name?

While a minor cannot legally get their own credit card until they hit 18 and show proof of a steady source of income, adding your child to your card as an authorized user can help them start building a credit history and credit score so they won't be starting from zero once they hit that coming-of-age mark.

How do I get my minor child a credit card?

A credit card is essentially a means of taking out a loan; as such, you must be 18 to get one. If your child is under 18, the only way for them to “get” a credit card is to add them as an authorized user to an existing account. An authorized user is allowed to use the card but isn't responsible for paying the bill.

Can I build my child's credit score?

Will adding your child to your credit card help establish her/his credit? Adding a minor as an authorized user can help build the minor's credit. In some cases, card issuers report to the credit bureaus the payment histories of every individual who has a card in their name — cardmembers and authorized users alike.

Can I get my baby a credit card to build credit?

Adding a child as an authorized user can build their credit

Once a child is no longer a minor, they're eligible to apply for their own cards — but that doesn't mean they'll get approved. Without a credit history or score, most rewards credit cards are out of reach, even if the child has an income.

At what age can I add my child to my credit card to build credit?

Some issuers allow kids as young as 13 to become authorized users but only report credit information for those age 18 and older. It's wise to ask your credit card company how authorized user arrangements work. Being an authorized user doesn't guarantee improved credit.

Can I add my 10 year old to my credit card?

Depending on your credit card issuer, you can add your child as an authorized user on your account as long as they meet the issuer's requirements. Before doing so, you'll want to make sure your child has a good understanding of how credit and debt repayment work.

What is the best credit card for kids?

Can I build credit at 17?

Yes. You can build credit at 17, but you'll have to think beyond traditional credit products. Consider becoming an authorized user to quickly build credit history. You may be able to qualify for a secured loan through your bank.

Can I get a loan in my child's name?

That includes “borrowing” a child's identity to obtain credit or something else in their name. This is actually a type of fraud, although many parents may not think of it this way. It's largely a crime of opportunity.

Do high school students have a credit score?

The credit reporting agencies don't typically have minors' credit reports, but there may be some cases in which a minor does have a credit report. A minor may have a credit score if they were set as an authorized user or cosigner on a credit card or if they've been a victim of unauthorized or fraudulent activity.

Can a highschool student have a credit card?

As you're researching credit cards for high school students, consider a few key basics that can set you up for success. Technically, it's possible to get a credit card at 18 years old. But applicants under 21 will also need to have an independent income or a co-signer to qualify.

What is a child's credit?

The Child Tax Credit is worth up to $2,000 per qualifying child under age 17. Exactly how much you get depends on your income. More specifically, your modified adjusted gross income.

Can a 16 year old get a loan with a co signer?

If you're under 18 years old: We welcome you to apply for a Start Personal Loan, as long as you have a parent or other co-signer on your loan. Parents will have access to monitor and help manage their child's loan and make a payment through online and mobile banking.

Does your credit score start at zero?

When you check your credit scores for the first time, you might be surprised to find a three-digit number, even if you've never used credit before. That's because your credit score doesn't start at zero. In fact, the lowest possible score from FICO® and VantageScore® is 300.