Can a 13 year old have a credit card?
Children under the age of 18 are not allowed to enter into credit card agreements, but many card issuers will allow minors to become authorized card users. Some issuers have minimum age requirements, that necessitate authorized users must be at least 13 or 16 years old.
Kids younger than 18 typically can't open their own credit card. But they may be able to access credit in other ways. One is by becoming an authorized user on someone else's credit card account. An authorized user is a person a cardholder has granted access to use their account.
By becoming an authorised user on a parent's account, you can. However, if you want to apply for a credit card of your own, you'll have to wait until you're 18. If you're starting a small business as a teen, you want to build credit or take out a loan for another purpose, getting a credit card can be a good idea.
Yes, in many cases, adding your child to your credit card account can help them build their credit. Some issuers allow you to add kids as authorized users as young as 13. That can give you several years of good credit history before they even become adults.
Bottom Line. It's possible to get a first credit card at a young age by becoming an authorized user on a parent's account, but the legal age to apply for your own credit card is 18. 18- to 20-year-olds must apply with a co-signer (which not all banks allow) or with proof of income.
You have to be at least 18 to get a credit card. If you're under 21, the Credit Card Act of 2009 stipulates you also need to prove you have your own income to be approved without a co-signer.
How old do you have to be to get a credit card? You can be an authorized user as young as 13, but you have to be 18 to sign up for your first credit card on your own. When you're ready for this step, you'll need to be prepared to show some documentation.
Minors may be added to a parent's credit card account as an authorized user as young as 13. Otherwise, they'll need to be at least 18 with their own income in order to get a credit card in their name without a parent's consent.
Add your child as an authorized user
A child generally only needs to be 13 to 15 years old to qualify as an authorized user and start building credit, while some card issuers have no minimum age requirement at all (read about the minimum ages for each card issuer).
That includes “borrowing” a child's identity to obtain credit or something else in their name. This is actually a type of fraud, although many parents may not think of it this way. It's largely a crime of opportunity.
At what age can I add my child to my credit card?
When can I add my child to my credit card? Card issuer policies vary when it comes to age restrictions for adding authorized users. For example, American Express requires the authorized user to be 13 years old, whereas Chase and Capital One allow authorized users of any age.
This difference is at the root of several benefits and drawbacks of both types of cards. A credit card is essentially a means of taking out a loan; as such, you must be 18 to get one. If your child is under 18, the only way for them to “get” a credit card is to add them as an authorized user to an existing account.
Note, however, that kids cannot open their own credit card account. Anyone under the age of 18 can only be added as an authorized user on an adult's credit card account, which doesn't come with the exact same privileges — or the liability.
| Card | Monthly fees | Age |
|---|---|---|
| Greenlight Debit Card | $5 to $15, for up to five children | Any |
| BusyKid Debit Card | $4 for up to five children | Any |
| GoHenry Debit Card | $5 for one child; $10 for up to four children | 6 to 18 |
| Step Debit Card | None | Any |
Most credit card issuers allow children under 18 years to be added as authorized users on a credit card and some don't have any age restrictions whatsoever. Adding your kids as authorized users on your credit cards may seem counterintuitive to the concept of financial independence.
If you're interested in building your child's credit before they turn 18, you can explore adding them as an authorized user to one or more of your credit cards. There is no legal minimum age for adding a child as an authorized user, however you should check your credit card issuer's policies.
The minor must be age 13 through 17 and will be auto-enrolled in the Youth customer group. The account can be opened online or in a branch. If you open it in a branch, you must both be present.
That depends. Debit cards typically come with checking accounts. Many financial institutions offer teen checking accounts for teens around 13 or 15 years old, which come with their own set of unique features and perks. Some institutions may even offer checking accounts for children as young as six years old.
How do I get a credit card for my child? If you hope to add authorized users to your account, call your bank or credit union to ask how the process works where children are concerned. After you add your child as an authorized user, your child will receive a credit card in the mail for activation and use.
Making your child an authorized user on your credit card can help them learn to responsibly use money and build up their credit. By setting up an authorized user relationship, your child has the opportunity to start building a positive credit history even if they are still too young to open a credit card of their own.
How to get a card at 13?
If your child is between 13 and 17 years old, most banks will require them to apply in the branch. Either way, children will need to be accompanied by an adult or legal guardian. When applying for a joint checking account with a child, you'll need to supply: Your child's name, birth date, and social security number.
To promote parental controls and guardrails, only the parent/guardian who opened the account can fund or manage it. You can open a Chase First Checking account for your child who is 6 -17 years old. Once the child has reached the age of 18, Chase may recommend they open their own account.
- Add Your Child as an Authorized User to Your Credit Card Account. ...
- Encourage Your Child to Complete the FAFSA for College. ...
- Cosign Private Student Loans. ...
- Consider a Secured Credit Card. ...
- Research Student Credit Cards. ...
- Set Payment Reminders.
Consider yourself in “good” shape if your credit score is above the average for people in your age group. Given that the average credit score for people aged 18 to 25 is 679, a score between 679 and 687 (the average for people aged 26 to 41) could be considered “good”.
Even if you haven't had any type of credit before, your scores don't start at zero. You'll likely start somewhere in the middle, and then you can start building your credit from there.
