There are many things you should consider when shopping for a credit line for an 18-year old. First, make sure that the interest rate offered is reasonable. Many credit cards have high interest rates, often expressed as annual percentage rates (APRs). You might be concerned about paying too high interest. Consider a credit card that has a lower variable rate. Also, keep in mind that credit reports will display your current balances. High balances could affect your credit score. 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. 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 rewards credit card for young adults will allow you to earn more rewards and not have to pay a large annual fee. The rewards program will allow you to receive more travel rewards without spending 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. 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 will earn you three times the miles as other credit cards.
Capital One Platinum Secured Visa Card
The Capital One Platinum Secured Credit Card for 18-year-olds is a great option for young people looking to start building their credit. The card doesn’t require a security fee and does not have an annual fee. The card allows you to increase credit without making another 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. Also, you will need to give financial information like your income and whereabouts. However, there are other requirements.
Petal(r). 2 Visa(r). Credit Card
Petal(r), Visa Credit Card may be the right choice for you if you're 18 years old and a student. This secured credit card has no annual fees and no foreign transaction charges. There is no penalty APR on late payments. It earns its revenue through merchant transaction fees, interest on revolving amounts, and other means. By helping you to pay your balance on-time, this card will help you maintain high credit scores.
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. This card allows you to have a credit limit up to $300,000.
Chase Freedom Unlimited
A Chase Freedom Unlimited credit card can be a good choice for an 18-year old who is just starting to build his credit history. This card has a low annual fee and no foreign transaction fees. The card doesn't have any foreign transaction fees and charges no fees for purchases made abroad, including food. This card can help improve your credit score which could be very beneficial for the future. Credit score is 15 percent dependent on the length of one's credit history.
The 18-year-old credit card offers a $0 annual fee, up to 5% cashback for dining, travel, or drugstore purchases, as well as a $0 monthly fee. The card also gives you a 1.5% cashback for all other purchases. This card also offers the benefit of allowing authorized users to be added without any fees.