Credit Card

How Old Do You Have to Get a Credit Card?

How old do you have to get a credit card

Owning a credit card brings many advantages to you. The foremost benefit of having such a cash card is that you don’t need to carry cash every time in your pocket. Moreover, it lets you purchase your favorite items and win rewards or cashback on them. However, one can’t say that owning a credit card at every age is possible. One can have it only when he reaches the age recommended by the federal ban. So, it’s good to know ‘ how old do you have to get a credit card? ‘. This query will help you to know when your siblings can have a credit card. 

It’s good to manage credit cards for your child so that you may train him to handle financial management. Moreover, a child having a credit card and proper directions will learn how to run a family’s expenses in a good way. Many other facts are there that one should learn before applying for his child’s credit card. This precise guide will reveal some unique facts about this query. So, let’s go through this beneficial guide to learn the exact age of a child for having a credit card. 

How old do you have to get a credit card – Minimum Age For Credit Card

Age to have a credit card depends on the state you’re residing in. However, in most States, even parents don’t let their children have a credit card until they turn 18 or above. According to a recent survey, only 10% of the parents allow their children to swipe in the US. It means that a very small portion of the state agrees for their children to swipe. 

According to the rules of the federal bank of the US, a child can’t have a credit card until he grows 18. Moreover, he doesn’t have the right to show his separate property until he turns 21. After these age limits, he can have a credit card as well as property. However, children can still use their family member’s credit cards at a small age. The age to add your child to financial management depends upon the reason for it.

How old do you have to get a credit card – Requirements:

‘What age can you get a credit card?’, it also depends on the bank you’re using for your credits. Here is the credit card age requirement for different banks in case your child has a credit card. 

Bank Name Age Requirements (Years)
Bank of AmericaNone
Capital OneNone
American Express13
Barclay’s13 
Chase BankNo Proper Age Requirement
US Bank16
Citi BankNone
Wells Fargo BankNone
Discover Bank15

The above-mentioned data shows that some major banks of the US have an age limit for a bank account while others don’t. However, all the card issuers must report any of the three major credit bureaus about their authorized users below the recommended age. These credit bureaus include Experian, Equifax, and TransUnion. But beware of those smaller banks that don’t let these bureaus know about your teenage credit card users.  

What Signals that Your Child is Ready For A Credit Card? 

How old do you have to get a credit card is still a query for many parents. Here are some signs for you:

  • He/she Can Differentiate Cash and Credit Card

When the child is going to step up from the use of cash to credit cards, it’s obvious that he should learn the basic differences between the two modes of payments. They should abide by the rules and regulations of the banks. Also, they should know the deposit and withdrawal limits. If your child can understand all that, it’s good to hand over a credit card to him. 

  • Is Your Credit Ready? 

It’s good to check your financial management before handing over the credit card to your sibling. If you think that your credit is enough to fulfill all the needs of your child, you can allow home to swipe. Otherwise, you may wait to bring your credit to the office with you. You need to ensure child credit card safety before giving it to them. 

Is It Beneficial to Handover Credit Card to My Child? 

How old do you have to get a credit card may confuse parents. Having a credit card for kids is good if you believe that your child can manage using it appropriately. Here are some other benefits associated with this fact. 

  • An Eye on Credit History

Having cash in his pocket, your child will not tell you about his expenses. However, you can link your number to the credit card of your child to have an eye on his expenses. 

  • A Safe Payment Method

Paying through a credit card is far more beneficial than doing so through cash. When there is fraud in any payment, the policies of the credit card issuers will make your child’s card secure against such frauds. 

  • Financial Understanding

Having a family’s credit card with proper directions, your child will learn financial management. This will add to his maturity. A lot of parents are in doubt about how old do you have to get a credit card. But your child learns how to spend money securely for the benefits. Moreover, he’ll learn the benefits of doing payments through a credit card. 

Can I get a credit card at 17? 

How old do you have to get a credit card? Except for some credit card issuers, as mentioned above, no bank allows a credit card for a person below 18. So, you can’t have a credit card if you’re going to open your account in any bank other than the above-mentioned. 

Can you get a credit card at 14?

Some banks, as discussed above, issue credit cards even below 18 years. This is called authorized credit card issuance. However, in normal situations, you can’t have a credit card below 18. 

Can I get a credit card at 16 years old?

If you’re applying for an authorized credit card, you can have it at 16. But normally, you can’t have a credit card below the age of 18. 

What is the minimum salary required to apply for a credit card?

An average income required to open a bank account ranges from $1,44,000 to $25,00,000 annually. 

At what age can you get a credit card UK? 

The minimum age requirement to apply for a credit card in the UK is 18 years. 

How old do you have to be to get a bank account? 

You should be at least 18 years old to open a bank account normally. 

How old do you have to be to have a debit card? 

Mostly, a child of 13 years of age can have a debit card. However, he must have a guardian or parent on the account. 

Final Verdict

You might not know the right answer of how old do you have to get a credit card. Having a credit card for your child is a good idea as it has many advantages. However, it’s not legal to have a credit card for a child who is below 18. Only some banks offer authorized credit cards for children that are supervised by any of the three legal credit bureaus. So, you can avail only an authorized credit card for your child in the US from the above-mentioned banks. The rest of the banks need a minimum age of 18.

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