You should take several factors into consideration when shopping for credit cards for 18-years-olds. First, you'll want to make sure the interest rate is reasonable. Many credit cards come with high interest rates. These are usually expressed as annual percentage rate (APRs). You may be worried about paying too much interest if you have a low variable APR. Also, keep in mind that credit reports will display your current balances. High credit scores can be hurt by high balances. 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. Anything above 30% can really hurt your credit score.
Capital One Venture X Reward Credit Card
Capital One Venture X Rewards Credit card for young adults can help you get more rewards without paying a high annual fees. You will be able to get more travel rewards and not break the bank with its rewards program. 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 rewards card card can help you to save on airfare. This is a great card for frequent travelers. Unlimited access to Capital One lounges as well as Priority Pass-participating ones will be available. Capital One purchases are three times more valuable than any other credit cards.
Capital One Platinum Secured Visa Card
For young people who want to build their credit, the Capital One Platinum Secured Card Credit Card is a great choice. The card doesn't require a security deposit and comes with no annual fee. The card allows you to increase credit without making another deposit.
Online and branch locations are both available for Capital One Platinum secured credit cards. To apply, you must be 18 years old and have a valid Social Security number or Individual Taxpayer Identification number. Additionally, you must provide financial information about your personal finances such as your monthly rent or work status. 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
The Petal(r), 2 Visa Credit Card is a great option for students 18+. This secured card comes with no annual fee and no foreign transaction fees. It also does not charge penalty APR for late payments. It earns its money from merchant transaction fees and interest on the revolving balances. You can maintain high credit scores by using this card to help you pay your balance in a timely manner.
Although many secured credit cards require security deposits, the Petal 2 Visa Credit Card allows you to apply for it without one. This card allows you to have a credit limit up to $300,000.
Chase Freedom Unlimited
The Chase Freedom Unlimited credit card is a good option for an 18-year-old who is just starting to build up his or her credit history. 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. The card offers credit score enhancements that can be useful for the long-term. 15 percent of credit scores are determined by a person’s credit history.
This credit card for 18-year-olds has a $0 annual fee and offers up to 5% cash back on dining, travel, and drugstore purchases. It also allows you to earn up to 1.5% cash back on all other purchases. The card's no-fee addition for authorized users is another benefit.