Unless you’re emancipated – that is, someone who isn’t an adult by age but is legally recognized as living independently – you can’t get a standard credit card in your own name until you’re 18 years old. Even then, it can be difficult to get a standard credit card. The Credit CARD Act of 2009, which went into effect in 2010 to protect consumers, put restrictions on the ability of anyone under 21 to get a card. Despite the law, if you’re a 17-year-old who wants to use plastic, you still have options.
Get a Co-Signer
To obtain a card, you can find an adult, probably a parent, to officially share the card with you. To the card issuer, you and your co-signer are both responsible for whatever charges you incur. The history of how you use the card – for better or worse – will show up on your credit report and that of your co-signer. When users handle cards responsibly, banks normally raise the limit on the amount they can charge. The CARD Act prevents that for co-signed accounts, requiring co-signers to agree to any credit limit increases.
Become an Authorized User
If your parents won’t go for co-signing, you might be able to be listed on one of their existing credit card accounts as an authorized user. Authorized users receive their own cards for use. Becoming an authorized user means the card’s history will start showing up on your credit report. If it turns out your parents have problems with the card, your report will be negatively affected. Authorized users, as far as the bank is concerned, usually are not financially responsible for the card’s charges.
Turn to Prepaid Cards
If your parents won’t list you as an authorized user or become co-signers, you may have to fall back on prepaid cards. A prepaid card looks like a standard credit card. The big difference between prepaid cards and credit cards is that you are borrowing money when you use a credit card, while prepaid cards access funds you’ve loaded into them. Prepaid cards charge fees, including in some cases fees for adding more money and for every purchase. Your activity usually isn’t reported to credit agencies, so prepaid cards won’t help you build a credit history.
Opt for a Debit Card
A debit card is an excellent option if you'd rather skip the fees associated with a prepaid card. Simply visit your bank and open up a checking account. The clerk will issue a debit card to go along with your account. Anytime you use the debit card, funds will be subtracted from your checking account balance. Most bank debit cards come with a Visa or Mastercard logo and can be used anywhere Visa or Mastercards are accepted. Keep in mind, debit cards may also incur fees, depending on the bank’s policies, and the card’s activity doesn’t count toward building credit.
Wait Until You’re 18
Once you turn 18, you can apply for a credit card on your own. The CARD Act requires applicants who are under 21 years old to have proof of an independent income or other assets that can be used to pay off charges. A part-time job might be enough to convince a credit card issuer to approve your application.
- Credit Cards: Glossary -- Emancipated Minor
- The New York Times: Credit Card Limits for Youth Can Be Opportunity for Parents
- Bankrate: Getting Your Student a Credit Card
- Discover: Applying for Your First Credit Cards
- Consumer.gov: Prepaid Cards
- Consumer Financial Protection Bureau. "Can a Card Issuer Consider My Age When Deciding Whether to Issue a Credit Card to Me?" Accessed Jan. 23, 2020.
- Consumer Financial Protection Bureau. "CARD Act Report: A Review of the Impact of the CARD Act on the Consumer Credit Card Market," Page 43. Accessed Jan. 23, 2020.
- Consumer Financial Protection Bureau. "CARD Act Report: A Review of the Impact of the CARD Act on the Consumer Credit Card Market," Page 44. Accessed Jan. 23, 2020.
- Federal Trade Commission. "Credit Card Accountability Responsibility and Disclosure Act of 2009," Page 11. Accessed Jan. 23, 2020.
- Consumer.gov. "Using Credit." Accessed Jan. 23, 2020.
- Consumer Financial Protection Bureau. "I Want to Help My Daughter Start Her Credit History. What Should I Do?" Accessed Jan. 23, 2020.
- Visa. "Visa Buxx Card: Debit Card for Teens." Accessed Jan. 23, 2020.
- Federal Trade Commission. "Prepaid Cards." Accessed Jan. 23, 2020.
- Federal Trade Commission. "Credit Card Accountability Responsibility and Disclosure Act of 2009," Page 13. Accessed Jan. 23, 2020.
Sophie Johnson is a freelance writer and editor of both print and film media. A freelancer for more than 20 years, Johnson has had the opportunity to cover topics ranging from construction to music to celebrity interviews.