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. High interest rates are common with credit cards. These rates are often expressed in annual percentage rates (APRs). Consider a variable APR credit card if you are concerned about excessive interest rates. Remember that credit reports will reflect your outstanding balances. High credit scores can be hurt by high balances. Also, high balances affect your credit utilization ratio, which measures the percentage of total debt you owe compared to the total amount of available credit. Any balance above 30% can seriously impact your credit score.
Capital One Venture X Reward Credit Card
Capital One Venture X rewards credit card for young adults will allow you to earn more rewards and not have to pay a large annual fee. Its rewards program allows you to enjoy more travel rewards, without having to spend a lot. It includes a range of perks like daily travel offers and tips to save money while you travel.
The Capital One Venture X rewards card card can help you to 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 (18-year-olds) is a great option to help young people build their credit. There is no annual fee and the card doesn't require any security deposit. This card gives you the ability to increase your credit score without having to deposit a second amount.
The Capital One Platinum Secured credit card is available online as well as at branch locations. You must have at least 18 years old to apply and a valid Social Security number. Additionally, you must provide financial information about your personal finances such as your monthly rent or work status. However, there are other requirements.
Petal(r). 2 Visa(r). Credit Card
Petal(r) Visa Credit Card could be a good choice if you are 18 or a student. The secured card is free of foreign transaction fees and has no annual fee. You will not be charged a penalty APR if you pay late. It earns its money from merchant transaction fees and interest on the revolving balances. 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 comes with a credit limit between $300 and $10,000, depending on your credit worthiness.
Chase Freedom Unlimited
The Chase Freedom Unlimited card is a good choice if you are 18 and just starting your credit history. The card comes with a low annual cost and no foreign transaction fees. It also doesn't charge any fees for purchases made overseas, such as food. This card can help improve your credit score which could be very beneficial for the future. 15 percent of credit scores are determined by a person’s credit history.
The 18-year old credit card has a $0 annual cost and offers up 5% cashback on dining, travel and drugstore purchase. This card allows you to earn 1.5% cash back on all purchases. It also allows you to add authorized users for no additional fee.