There are many things you should consider when shopping for a credit line for an 18-year old. First, you'll want to make sure the interest rate is reasonable. Many credit cards offer high interest rates. This is often expressed in annual percentage (APR) terms. Consider a variable APR credit card if you are concerned about excessive interest rates. Second, remember that your balances will show up on your credit report. Credit scores can be affected if you have 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. Your credit score can be affected by anything above 30%.
Capital One Venture X Reward Credit Card
Capital One Venture X Rewards credit card for young adults is a great way to get more rewards. You can get more travel rewards with its rewards program without having to break the bank. It offers a number of perks including daily travel deals, tips and tricks to help you save while traveling.
The Capital One Venture X rewards card card can help you to save on airfare. It is a great option for those who fly frequently. Unlimited access to Capital One lounges as well as Priority Pass-participating ones will be available. Additionally, you'll earn three times as many miles on Capital One purchases as you do with other credit cards.
Capital One Platinum Secured Kreditkarte
The Capital One Platinum Secured credit card for 18-year olds is a great way to get started building your credit. The card is free of annual fees and doesn't require you to make a security deposits. As an added benefit, it allows you to increase your credit line without making a second deposit.
Capital One Platinum Credit Cards are available online and in branch. 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. Of course, you'll need to meet a few other requirements, including being over 18 and not having a credit history.
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. 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.
While many secured credit cards require a security deposit, the Petal 2 Visa Credit Card can be applied for without a security deposit. The credit limit for this card is $300-$10,000, depending on your creditworthiness.
Chase Freedom Unlimited
The Chase Freedom Unlimited credit card is a good option for an 18-year-old who is just starting to build up his or her 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. You can get a credit score boost with the card, which can be beneficial for your future. 15 percent of credit scores are determined by a person’s credit history.
This credit card is for 18-years-olds and has a $0 per year fee. It also offers up to 5.5% cash back on purchases at drugstores, restaurants, and travel. It also allows you to earn up to 1.5% cash back on all other purchases. The card's no-fee addition for authorized users is another benefit.