Turning 18 is an important milestone for young adults. It signifies the start of adulthood and comes with increased responsibilities, such as managing finances.
One way to start building a credit history is to apply for a credit card. But, can you get a credit card on your 18th birthday?
Can you get a credit card on your 18th birthday?
Anyone can apply for a credit card on their 18th birthday, however, getting approved will depend on several other factors as well.
What You Need to Get Approved for a Credit Card
Meeting the requirements for your first credit card can be difficult, especially if you don’t know what they are.
Below are the most common credit card requirements:
Minimum age of 18: Since it’s your 18th birthday, you meet this requirement!
Photo ID: Most credit card companies will require a valid form of government-issued ID. This is typically a driver’s license, US passport, or State issued ID card.
Proof of address: To protect against fraud, credit card companies also like to verify your address. This can be done via a utility bill or bank statement that includes your current address.
Proof of income: Banks and credit card companies expect you to be able to pay them back, so they’ll need to verify that you have an income. This can be in the form of a recent pay stub, tax return, or bank statement.
Credit history: At 18, you might not have a credit score or even any credit history. Which makes this requirement the most difficult to meet.
You should start taking steps to create a credit history for yourself by either opening a checking account or having a parent add you to their credit card as an authorized user.
Best Credit Cards to Get on Your 18th Birthday
Meeting all the above requirements doesn’t guarantee you will get approved for every credit card you apply for.
Here are some of the credit cards that are easy to get approved for on your 18th birthday:
Discover it Student Cash Back
The Discover it Student Cash Back card is a great option for young adults who are just starting to build their credit history. This card offers 5% cash back on rotating categories, such as gas stations, restaurants, and Amazon, and 1% cash back on all other purchases. There is also a cashback match feature, which doubles the cash back you earn in your first year of having the card.
Capital One Platinum Credit Card
The Capital One Platinum Credit Card is another good option for young adults who are new to credit. This card has no annual fee, and you can increase your credit limit with responsible credit use. It also offers fraud coverage and personalized payment options.
Chase Freedom Flex
The Chase Freedom Flex card is a great choice for young adults who want to earn rewards on their spending. This card offers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter, and 1% cash back on all other purchases. There is also a $200 cash-back bonus when you spend $500 in the first three months of having the card.
Secured Credit Card
A secured credit card is a good option if you don’t have the income or credit history to qualify for an unsecured credit card. Secured cards require applicants to put down a refundable security deposit that acts as collateral for their account. This makes it easier to get approved, even with no credit history.
The Discover it Secured Card is a great option for young adults who are looking to build their credit history. This card offers 2% cash back at gas stations and restaurants, up to $1,000 in combined purchases each quarter, and 1% cash back on all other purchases.
Parents as Co-signers
If you’re unable to meet the requirements for a credit card, your parents may be able to help. Some credit card companies allow parents to co-sign on their child’s account, which helps them get approved and build their credit history.
Final Thoughts
Trying to get a credit card on your 18th birthday can be intimidating. But if you know what to look for and have a plan of action, it doesn’t have to be overwhelming.
No matter what approach you take, always be sure to use your credit card responsibly. Make sure to pay your bill on time and in full each month, or you could end up with late fees or a lower credit score.
With the tips and cards outlined above, you can start building your credit history today!
