Here are some things to remember when you shop for a credit card that will suit an 18-year-old. First, you'll want to make sure the interest rate is reasonable. Many credit cards offer high interest rates. This is often expressed in annual percentage (APR) terms. 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 credit scores can be affected by high credit balances. Credit utilization ratio is a measure of how much debt you have compared to your total credit limit. Any balance above 30% can seriously impact your credit score.
Capital One Venture X Rewards credit card
Capital One Venture X Rewards credit card for young adults is a great way to get more rewards. The rewards program will allow you to receive more travel rewards without spending a lot. It comes with a variety of perks, including daily travel deals and tips to help you save money while traveling.
You can save money on your airfare with the Capital One Venture X Rewards Credit Card. This card is great for frequent flyers. Access to Capital One lounges and Priority Pass members will be unlimited. Additionally, you'll earn three times as many miles on Capital One purchases as you do with other credit cards.
Capital One Platinum Secured Card Credit Card
The Capital One Platinum Secured credit card for 18-year olds is a great way to get started building your credit. This card does not require a security deposit, and there is no annual fee. It allows you to grow your credit limit without having to make a second deposit.
Capital One Platinum Credit Cards are available online and in branch. You must be 18 and have a valid Social Security card or Individual Taxpayer Identification to apply. Additionally, you must provide financial information about your personal finances such as your monthly rent or work status. There are some other requirements that you must meet, such as not being under 18 or having no credit history.
Petal(r), 2 Visa(r), Credit Card
The Petal(r), 2 Visa Credit Card is a great option for students 18+. This secured credit card has no annual fees and no foreign transaction charges. Late payments are not subject to penalty APR. It earns money by charging merchant transaction fees as well as interest on revolving accounts. This card will help you maintain a high credit score by helping you pay your balance on time.
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. The credit limit for this card is $300-$10,000, depending on your creditworthiness.
Chase Freedom Unlimited
For 18-year-olds who are just beginning to build credit, the Chase Freedom Unlimited credit cards is a great option. This card is free of foreign transaction fees and has an annual fee that's low. There are no foreign transaction fees or charges for purchases made in the country. It can also help you build your credit score, which is important for the future. The length of a person's credit history accounts for 15 percent of his or her credit score.
The 18-year old credit card has a $0 annual cost and offers up 5% cashback on dining, travel and drugstore purchase. The card also gives you a 1.5% cashback for all other purchases. You can also add authorized users without paying any fees to this card.