If you are between the ages of 18 and 20 and cannot meet the requirements to obtain a credit card under the card act your best solution may be to obtain a prepaid credit card.
Best debit card for 18 year old.
Reloadable cards that act like a debit card.
When adorned with a credit card network logo e g visa mastercard discover or amex prepaid cards can be used just like credit cards to conveniently make.
Older teens with a part time job and responsibility for their own cell phone bill or other charges may also benefit from features such as bill pay and direct deposit.
How to get a credit card if you re under 18 years old.
To personalize the account for teens the bank offers high school logo checks and debit cards with personalized photos for a small fee.
The best debit or prepaid cards for teens will charge minimal fees offer flexibility in reloading funds and allow parents access to the card especially important for kids on the younger end of the teenage spectrum.
These cards are a relatively safe way to teach your child how to spend responsibly.
In this article we look at the best bank accounts for children and teens as well as the best pocket money accounts also known as pre paid cards.
This age range is a good time to introduce your tween to debit and prepaid cards.
Your child needs to apply for it but can only do so in branch and if they re 11 15 years old you have to go with them.
The downside to debit and prepaid cards is twofold.
The minimum starting credit limit is 300 and there s no security deposit required to open the account.
If several are suitable look into what benefits they offer and apply for the best account.
Teenagers bank accounts faqs.
As an under 18 year old your two options are.
There s no overdraft fees or charges.
17 to 18 year olds also get a discount with the aa driving school.
Credit agencies only start building a person s history from the age of 18 hence why you re unable to get credit.
They don t accrue interest and they draw from preloaded money through a bank account or other source.
These are several important considerations when getting a first credit card as an 18 year old.
Your child can choose a cash card only for withdrawing cash or visa debit card.
Check which accounts offer the features you need like internet banking or a debit card.
The best credit card for 18 year olds is the capital one platinum card because it has a 0 annual fee.
Best credit cards for an 18 year old.
In a world of debit cards and contactless payments cash is being used far less and so it is proving more and more difficult to involve your children and get them interested in money.
Mobile banking online access and bill paying are included.
Accounts are considered for a credit limit increase after 6 months.
If you re under 18 you re not allowed to get a credit card.
