There are many things you should consider when shopping for a credit line for an 18-year old. You will first need to ensure that the interest rate you are paying is fair. Many credit cards offer high interest rates. This is often expressed in annual percentage (APR) terms. 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 balances can negatively impact your credit utilization ratio. This measures how much of your total debt you owe to total credit. A credit score that is higher than 30% could be severely affected.
Capital One Venture X Reward 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. The rewards program will allow you to receive more travel rewards without spending a lot. You get a range of perks such as daily travel deals and tips that will help you save money while on vacation.
The Capital One Venture X rewards Credit card can help save you money on airfare. It is an excellent option for those who frequent fly. Access to Capital One lounges and Priority Pass members will be unlimited. Capital One purchases are three times more valuable than any 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. This card does not require a security deposit, and there is no annual fee. The card allows you to increase credit without making another deposit.
Capital One Platinum Credit Cards are available online and in branch. You must be 18 years or older and have a valid Social Security Number or Individual Taxpayer identification number in order to apply. 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), Visa Credit Card for Students (18+) may be a good option. This secured card comes with no annual fee and no foreign transaction fees. You will not be charged a penalty APR if you pay late. It makes its money via merchant transaction fees and interest for revolving debts. You can maintain high credit scores by using this card to help you pay your balance in a timely manner.
Petal 2 Visa Credit Card - While some secured credit card applications require a security fee, you can apply for this card without having to pay a security fee. 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 is free of foreign transaction fees and has an annual fee that's low. The card doesn't have any foreign transaction fees and charges no fees for purchases made abroad, including food. The card also offers a credit score boost, which can be important for the future. 15 percent of a person’s credit score is determined by how long he or she has been in credit.
This credit card is for 18-years-olds and has a $0 per year fee. It also offers up to 5.5% cash back on purchases at drugstores, restaurants, and travel. This card allows you to earn 1.5% cash back on all purchases. The card's no-fee addition for authorized users is another benefit.