[UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned below.]
When Americans turn 18, they are considered adults under the law. That means that they can vote and be tried as an adult, but it's also the first time that they are able to apply for a credit card account in their own name, though they'll have to jump through a few hoops first.
Under the CARD Act of 2009, no credit card may be issued to a consumer under the age of 21, unless they have a co-signer who has the means to repay the debts or they can prove they independently can repay the debt.
The problem is that teenagers by their very nature have little or no credit history. (You can see if you're considered "scoreable" by checking your credit scores for free on Credit.com.) Nevertheless, some credit card issuers are so eager to acquire new customers in this age group, that they can offer cards specifically tailored to their limited credit profiles. These cards for teens and young adults will have lower requirements, in exchange for fewer rewards and higher interest rates than those offered to the general market.
So here are three credit cards, none of which charge an annual fee, that are just right for teens, students and other young adults.
1. Quicksilver Rewards for Students
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Earn unlimited 1.5% cash back on every purchase, every day. Earn 5% cash back on Capital One Entertainment purchases.
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‘Whether you’re at a 4-year university, community college or other higher education institution, this card might be an option for you.
3. BankAmericard Credit Card for Students
This card offers new applicants 0% intro APR for the first 18 billing cycles, promotional financing on new purchases for 15 months, and a standard interest rate of 14.74% to 24.74%. Otherwise, this is a fairly simple card from a major retail bank, so young adults have the opportunity to conveniently manage all of their accounts in one place.
Note: It's important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.
At publishing time, the Capital One Journey Student Rewards card and OpenSky Secured Visa credit card are offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment.
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