You should take several factors into consideration when shopping for credit cards for 18-years-olds. First, make sure that the interest rate offered is reasonable. High interest rates are common with credit cards. These rates are often expressed in annual percentage rates (APRs). You might be concerned about paying too high interest. Consider a credit card that has a lower variable rate. Also, keep in mind that credit reports will display your current balances. High balances can affect your credit score. High credit balances can also affect your credit utilization ratio. This is the ratio of the amount of credit available to you and the total debt that you owe. Credit scores can be seriously affected if you have a credit score of 30 or more.
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.
The Capital One Venture X reward credit card is a great way to save money on airfare. This card is great for frequent flyers. Unlimited access to Capital One lounges as well as Priority Pass-participating ones will be available. Additionally, you'll earn three times as many miles on Capital One purchases as you do with other credit cards.
Capital One Platinum Secured Kreditkarte
The Capital One Platinum Secured credit card for 18-year olds is a great way to get started building your credit. The card is free of annual fees and doesn't require you to make a security deposits. As an added benefit, it allows you to increase your credit line without making a second deposit.
You can apply for Capital One Platinum Secured credit cards online or at any of their branches. You must be at least 18 years of age and possess a valid Social Security or Individual Taxpayer ID number to apply. Additionally, you must provide financial information about your personal finances such as your monthly rent or work status. However, there are other requirements.
Petal(r),2 Visa(r), Credit Card
If you're 18 and a student, the Petal(r) 2 Visa Credit Card may be a good choice for you. This secured credit card has no annual fees and no foreign transaction charges. There is no penalty APR on late payments. It earns its money from merchant transaction fees and interest on the revolving balances. This card will help you maintain a high credit score by helping you pay your balance on time.
Although many secured credit cards require security deposits, the Petal 2 Visa Credit Card allows you to apply for it without one. This card offers credit limits between $300 and $10,000 depending on creditworthiness.
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 has a low annual fee and no foreign transaction fees. The card doesn't have any foreign transaction fees and charges no fees for purchases made abroad, including food. It can also help you build your credit score, which is important for the future. 15 percent of credit scores are determined by a person’s credit history.
The 18-year old credit card has a $0 annual cost and offers up 5% cashback on dining, travel and drugstore purchase. You also get up to 1.5% cashback on all purchases. This card also offers the benefit of allowing authorized users to be added without any fees.