A credit card for 18-year-olds is a great option for young adults who have little credit history. Young adults have many choices when it comes to choosing a credit card product. This article will explain the Capital One Venture XRewards Credit Card, Petal 2and Chase Freedom Unlimited.
Capital One Venture X Rewards Credit Card
Make sure you check your eligibility requirements when applying to a credit card. The credit card application requires applicants to have a credit rating of at least 740. However, it is possible to get approved if you have a score between 700 and 740. Besides, this type of credit card comes with some great benefits.
The first step is to request a credit file from all three credit reporting agencies. You will need to get rid of any credit freezes on your credit reports before you apply. This is common practice among credit card companies. However, the Venture X rewards credit card has some unique features.
As the name suggests, Capital One Venture X rewards credit card offers two times the amount of Capital One miles on eligible purchases. The credit card comes with a $95 annual fee, and a Capital One Travel Portal. It also provides two lounge visits for free each year.
Chase Freedom Unlimited
The Chase Freedom Unlimited 18 year-old credit card offers a modest sign-up bonus, but lower rewards than premium Chase cards. Nevertheless, if you're 18 years old and have good to excellent credit, you might be able to get approved. You must have a minimum FICO credit score 670 to be eligible for this card.
For those looking for a high-cash back credit card with no annual fees, the Chase Freedom Unlimited 18-year old credit card is a great choice. This card earns 1.5% cash back on all purchases and earns 5% on Chase travel and dining purchases. Other benefits include no annual fee and the ability to keep all of your rewards.
The Chase Freedom Unlimited 18-year-old credit card has no annual fee and a low introductory rate. After the promotional period the APR increases to a high rate. You will have to pay a foreign transaction charge of 3%. There is no annual fee. This card is excellent if you intend to travel abroad. You can also get trip cancellation insurance or emergency assistance.
Petal 2
Petal 2 credit credit card may be a good option for an 18-year old who is looking for credit. This card is ideal for people with poor credit. However, this APR is more than what you would see for credit cards. Missed payments could negatively impact your preapproval decision.
The Petal 2 credit card offers two types of cash back: Petal Offers and Petal Rewards. Petal Offers gives you cash back on certain purchases and is a bonus program for customers who make on-time payments. The amount that you spend will determine how much cash you earn at certain merchants. Cash back is automatically deposited into your Cash Back Wallet and can be redeemed for statement credits, cash in a check, or direct deposit into your bank account.
If you have poor credit or no credit at all, the Petal 2 "Cash Back, No Fees" Visa credit card might be a good option for you. The card gives cash back on eligible purchases, and allows for a credit limit of up to $10,000. The Petal 2 credit card has many benefits, including an app that keeps track of your spending habits and improves your credit score. The mobile app lets you see your credit score and account amounts, along with payment due dates, rewards, payments, and more. The mobile app also features a tracking feature that helps you learn more about your spending habits and improve your credit history.