By: John Kiernan, Credit Card Editor The best credit cards for teens are the Capital One® Platinum Credit Card ($0 annual fee) and the Capital One® QuicksilverOne® Cash Rewards Credit Card (1.5% cash back). Both cards have great terms, and anyone who is at least 18 years old with limited credit or better can apply.3.5/5(4.6K). Jul 12, 2019 · Secured credit cards can be an excellent option for teens who want to build credit without a cosigner but who have trouble qualifying for an unsecured credit card. While they are used just like any other credit card, secured cards are secured by the required deposit (deposit amount will vary by card).Author: Brittney Mayer.
Jul 23, 2019 · Once you determine that a credit card is an appropriate option, you’ll need to determine which card is best for your child. Here are a few things to look for when choosing credit cards for teens. Fees: Look for cards with no annual fees. Review each credit card’s terms and conditions to get a complete list of all fees and interest charges.Author: Collin Brennan. Aug 08, 2019 · Tweens and teens can share credit cards with adult family members or guardians. Virtual family “banks” can help teach credit and banking lessons, without opening an actual credit card.
Myth: Make sure your teenager gets a credit card so he or she will learn to be responsible with money. Truth: Getting a credit card for your teenager is an excellent way to teach him or her to be financially irresponsible. That's why teens are now the number-one target of credit card companies. Over 80% of graduating college seniors have credit card debt before they even have a job! Apr 10, 2015 · This card is great for those with no or low credit, like teens. It helps teens build credit. As a secured credit card, it requires a security deposit, which acts as the card’s credit line. That Reviews: 2.
Getting Started With Credit. It is challenging for any student under 21 who doesn't have a full-time job to qualify for a credit card without a parent's co-signature. If you think your kids have shown they can handle credit responsibly, you might consider co-signing for a secured credit card with a low limit.Author: Ilana Polyak. Aug 07, 2015 · Advertiser Disclosure. Best of, Building Credit, College Students and Recent Grads Best First Credit Card for Teenagers. Friday, August 7, 2015. Editorial Note: The content of this article is based on the author’s opinions and recommendations alone.