Consider these things when looking for a creditcard for an 18 year old. First, ensure the interest rate is affordable. Many credit cards offer high interest rates. This is often expressed in annual percentage (APR) terms. If you're worried about paying too many interest, consider a card with a variable APR. Also, keep in mind that credit reports will display your current balances. High balances could affect your credit score. High balances can affect your credit utilization rate, which is the ratio of total debt owed to credit available. Anything above 30% can really hurt your credit score.
Capital One Venture X Rewards Credit Card
The Capital One Venture X Rewards Credit Card for a young adult can help you earn more rewards without having to pay a high annual fee. You can get more travel rewards with its rewards program without having to break the bank. It comes with a variety of perks, including daily travel deals and tips to help you save money while traveling.
You can save money on your airfare with the Capital One Venture X Rewards Credit Card. It's a great choice for frequent flyers. Capital One Lounges are available to you 24/7, and Priority Pass participants as well. You'll also earn three times more miles when you buy Capital One products than you do with any other credit card.
Capital One Platinum Secured Card Credit Card
The Capital One Platinum Secured Credit Card for 18-year-olds is a great option for young people looking to start building their credit. The card doesn’t require a security fee and does not have an annual fee. This card gives you the ability to increase your credit score without having to deposit a second amount.
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. Also, you will need to give financial information like your income and whereabouts. There are some other requirements that you must meet, such as not being under 18 or having no 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. The secured card has no foreign transaction fees and there is no annual fee. There is no penalty APR on late payments. It makes its money via merchant transaction fees and interest for revolving debts. This card will help maintain your credit score by helping to pay your balance on the due date.
While many secured credit cards require a security deposit, the Petal 2 Visa Credit Card can be applied for without a security deposit. This card allows you to have a credit limit up to $300,000.
Chase Freedom Unlimited
For 18-year-olds who are just beginning to build credit, the Chase Freedom Unlimited credit cards is a great option. This card does not have foreign transaction fees or an annual fee. There are no foreign transaction fees or charges for purchases made in the country. This card can help improve your credit score which could be very beneficial for the future. 15 percent of credit scores are determined by a person’s credit history.
The 18-year-old credit card offers a $0 annual fee, up to 5% cashback for dining, travel, or drugstore purchases, as well as a $0 monthly fee. You can also earn as much as 1.5% cashback on all other purchases This card also offers the benefit of allowing authorized users to be added without any fees.