Consider these things when looking for a creditcard for an 18 year old. First, ensure the interest rate is affordable. Many credit cards offer high interest rates. This is often expressed in annual percentage (APR) terms. If you're concerned about paying too much interest, consider a credit card with a lower variable APR. Remember that credit reports will reflect your outstanding balances. Credit scores can be affected if you have high balances. High balances can affect your credit utilization rate, which is the ratio of total debt owed to credit available. Credit scores can be seriously affected if you have a credit score of 30 or more.
Capital One Venture X Reward 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 can get more travel rewards with its rewards program without having to break the bank. 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 card card can help you to save on airfare. This card is great for frequent flyers. You'll get unlimited access to Capital One lounges, as well as Priority Pass participating ones. Capital One purchases are three times more valuable than any other credit cards.
Capital One Platinum Secured Card Credit Card
For young people who want to build their credit, the Capital One Platinum Secured Card Credit Card is a great choice. The card doesn’t require a security fee and does not have an annual fee. It allows you to grow your credit limit without having to make a second deposit.
Capital One Platinum Secured credit cards are available online and at their branch locations. You must have at least 18 years old to apply and a valid Social Security number. Your personal financial information (such as your monthly rent, employment status) is required. 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 has no foreign transaction fees and there is no annual fee. Late payments are not subject to penalty APR. It makes its money via merchant transaction fees and interest for revolving debts. This card will help you maintain a high credit score by helping you pay your balance on time.
Petal 2 Visa Credit Card - While some secured credit card applications require a security fee, you can apply for this card without having to pay a security fee. 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 does not have foreign transaction fees or an annual fee. You won't be charged any additional fees for international purchases, such as food. The card offers credit score enhancements that can be useful for the long-term. 15 percent of a person’s credit score is determined by how long he or she has been in credit.
This credit card for 18-year-olds has a $0 annual fee and offers up to 5% cash back on dining, travel, and drugstore purchases. This card allows you to earn 1.5% cash back on all purchases. This card also offers the benefit of allowing authorized users to be added without any fees.