10 Best Credit Cards For Teens

In no particular order, here are the top credit cards available for teens.

Lender	Scholaroo rating	APR Rate %	Minimum Credit Score
Discover it® Student Cash Back Best student card for teens Visit website	4.9/5	18.24% - 27.24%	N/A
Discover it® Secured Best secured card for high rewards Visit website	4.9/5	28.24%	N/A
Citi® Secured Mastercard® Best secured card with a high credit limit Visit website	4.8/5	27.74%	N/A
Discover it® Student Chrome Good for everyday rewards Visit website	4.8/5	18.24% - 27.24%	N/A
Capital One SavorOne Rewards for Students Good for fair credit Visit website	4.8/5	19.99% - 29.99%	580
Capital One® Platinum Secured Good for rebuilding credit Visit website	4.6/5	30.49%	N/A
Capital One Platinum Mastercard Good Mastercard for teens Visit website	4.5/5	30.49%	580
OpenSky® Secured Visa® Good for those without a bank account Visit website	4.4/5	22.39%	N/A
Blue Cash Everyday® Good for low interest rates Visit website	4.3/5	19.24% - 29.99%	700
Bank of America® Travel Rewards Best travel card for students Visit website	4.3/5	18.24% - 28.24%	670

Lender

Discover it® Student Cash Back

Best student card for teens

Scholaroo rating

4.9/5

APR Rate %

18.24% - 27.24%

Minimum Credit Score

N/A

Visit website

Lender

Discover it® Secured

Best secured card for high rewards

Scholaroo rating

4.9/5

APR Rate %

28.24%

Minimum Credit Score

N/A

Visit website

Lender

Citi® Secured Mastercard®

Best secured card with a high credit limit

Scholaroo rating

4.8/5

APR Rate %

27.74%

Minimum Credit Score

N/A

Visit website

Lender

Discover it® Student Chrome

Good for everyday rewards

Scholaroo rating

4.8/5

APR Rate %

18.24% - 27.24%

Minimum Credit Score

N/A

Visit website

Lender

Capital One SavorOne Rewards for Students

Good for fair credit

Scholaroo rating

4.8/5

APR Rate %

19.99% - 29.99%

Minimum Credit Score

580

Visit website

Lender

Capital One® Platinum Secured

Good for rebuilding credit

Scholaroo rating

4.6/5

APR Rate %

30.49%

Minimum Credit Score

N/A

Visit website

Lender

Capital One Platinum Mastercard

Good Mastercard for teens

Scholaroo rating

4.5/5

APR Rate %

30.49%

Minimum Credit Score

580

Visit website

Lender

OpenSky® Secured Visa®

Good for those without a bank account

Scholaroo rating

4.4/5

APR Rate %

22.39%

Minimum Credit Score

N/A

Visit website

Lender

Blue Cash Everyday®

Good for low interest rates

Scholaroo rating

4.3/5

APR Rate %

19.24% - 29.99%

Minimum Credit Score

700

Visit website

Lender

Bank of America® Travel Rewards

Best travel card for students

Scholaroo rating

4.3/5

APR Rate %

18.24% - 28.24%

Minimum Credit Score

670

Visit website

Be mindful of the following when choosing a credit card in your own name.

• Credit Score Requirement: Teens usually have low or no credit which can make it hard to get a traditional unsecured credit card. Therefore, it is best to choose a card with low or no credit requirement for a better chance of approval. Teens who are minors and are added to their parent or guardian’s credit card at a young age as authorized users, however, may be able to get a card with a minimum credit requirement as they will likely have a credit history built up by being an authorized user on a card.
• Co-signing Requirements: Most cards require a minimum income to qualify which most 18-year-olds are unable to meet on their own. Some credit cards allow a co-signer if a teen does not have enough of a financial history or credit score to qualify on their own. This will increase the chances of approval and may help you to get better rates too.
• Interest Rates and Fees: Make sure to research each card’s interest rate and fees before signing up for one, to ensure that it is the best fit for you financially. Lower interest rates may make the repayments more manageable at younger ages with limited income.
• Credit Limit: Teens should consider how much money they will need to borrow on the credit card when selecting their ideal limit, as this could affect their credit score if not managed responsibly. It is better to keep a lower credit card limit initially and increase it later with more experience and a better credit history.
• Rewards and Benefits: Familiarise yourself with each card’s rewards and benefits before signing up for one – this will help make sure that you’re getting the best deal for your money.

How to get a credit card as a teen depends on the age group. This is because teens under 18 cannot get a credit card independently and will have to adapt different ways to access credit.

Applying for a Credit Card for Teens Under 18

There are ways to access a credit card as an early teen and the best way is to become an authorized user on someone else’s card.

In the event that the teen is under 18, they can still establish credit by being added as an authorized user on someone else’s account – provided that the credit card in question has that option available. This means that the adult and teen are both responsible for any charges made with the card. Having said that, the teen will not be liable for any of the debt, and the credit history of that account will show up on the teen’s credit report, helping the teen to build a positive score even before they reach the age of majority. This will help teens get a credit card easily when they turn 18.

Moreover, since many credit cards require applicants to show some income, it would be a good idea to start saving early on. This is because many student and secured credit cards accept savings as a valid source of income too.

Applying for a Credit Card as an 18-Year-Old

Once you turn 18, you can apply for credit cards by yourself. To get a credit card you will need to show a source of income which can even include your savings, monthly allowance, earnings from a part-time job, scholarships, or any other financial assistance you may have that you can use to pay the monthly bills. In case you are unable to give any such proof of income, you may apply with a cosigner if the credit card issuer allows cosigning. A cosigner is an adult who will take legal responsibility over the account if necessary and can be listed as a joint applicant on the application.

Moreover, you will also need to have a physical U.S. address to apply and proof of ID such as your driver’s license. Some credit card issuers also require the applicant to either submit a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) with the application.

For teens, student credit cards and secured credit cards are easier to get as they have flexible credit history requirements. Most of them do not require a minimum credit score to qualify and are, therefore, more accessible to teens with no or low credit scores. For unsecured credit cards, you may need to cosign in case you are unable to meet the credit requirement yourself.

Here are the benefits and potential drawbacks associated with teens getting a credit card.

Pros of a Credit Card

• Establishes credit history
• Allows you to manage expenses responsibly and build good financial habits
• Can help with emergencies or major purchases
• Offers rewards, such as cashback, discounts, or travel points

Cons of a Credit Card

• Potential of high interest rates if payments are not made on time
• Can lead to debt if not used responsibly
• Potentially high annual fees

Building Credit as 13 to 17 Years Olds

At 13 years of age and above before you reach the legal age, the only practical way to build credit is by becoming an authorized user on someone else’s card. As you become an authorized user of a card, your credit history starts to develop and it will become easier to access many financial options independently when you turn 18.

Building Credit at 18 And Above

Responsible credit card use is a great way for teens at the age of majority and above to build a good credit score. By following the tips mentioned below, you can stay on track and take advantage of the financial benefits that will eventually come with an improved credit score.

• Set a budget and stick to it: Establishing a budget and tracking spending will help teens stay within their means while they learn the responsibilities of credit card use.
• Make timely credit card payments: It is important for young people to understand the importance of making payments on time as it helps build a positive credit history and keep interest rates low.
• Avoid carrying a balance: It’s best to pay off the entire balance each month, as carrying a balance can incur costly interest fees and damage credit scores.
• Keep a low credit utilization: Try not to max out your monthly credit limit often and it can portray you as a risky and irresponsible individual to future lenders and might hurt your credit score. Typically, most lenders prefer that you use no more than 30% of the total credit limit that is available to you.
• Monitor your credit score regularly: By staying informed of their credit score, teens can keep track of their progress in managing credit cards and learn how to improve it.
• Cosign a loan or a lease: Getting added to a loan or lease can help improve your credit mix and when you make timely payments on them, you can see your credit score go upwards faster than just by using a credit card alone.