If you're shopping for a credit card for an 18-year-old, there are several things to consider. First, make sure that the interest rate offered is reasonable. Credit cards often have high interest rates. They are often expressed as annual percent rates (APRs). If you're concerned about paying too much interest, consider a credit card with a lower variable APR. Your credit report will also show your balances. Credit scores can be affected if you have high balances. Also, high balances affect your credit utilization ratio, which measures the percentage of total debt you owe compared to the total amount of available credit. Credit scores can be seriously affected if you have a credit score of 30 or more.
Capital One Venture X Rewards Credit Card
Capital One Venture X Reward Credit Card for Young Adults can help you earn more without having to pay a steep annual fee. With its rewards program, you can enjoy more travel rewards without breaking the bank. There are many perks that come with it, such as daily travel deals or tips to help you spend less while traveling.
You can save money on your airfare with the Capital One Venture X Rewards Credit Card. This card is great for frequent flyers. You'll get unlimited access to Capital One lounges, as well as Priority Pass participating ones. You'll also earn three times more miles when you buy Capital One products than you do with any other credit card.
Capital One Platinum Secured Card Credit Card
For young people who want to build their credit, the Capital One Platinum Secured Card Credit Card is a great choice. This card does not require a security deposit, and there is no annual fee. This card gives you the ability to increase your credit score without having to deposit a second amount.
Capital One Platinum Secured credit cards are available online and at their branch locations. You must have at least 18 years old to apply and a valid Social Security number. Personal financial information, such as monthly rent and employment status, is also required. 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. The secured card does not have an annual fee or foreign transaction fees. Late payments are not subject to penalty APR. It earns its revenue through merchant transaction fees, interest on revolving amounts, and other means. The card helps you keep a high credit score and will allow you to pay off your balance promptly.
Although many secured credit cards require security deposits, the Petal 2 Visa Credit Card allows you to apply for it without one. This card has a credit limit of $300 to $10,000 depending on your creditworthiness.
Chase Freedom Unlimited
For an 18-yearold just starting to build credit history, Chase Freedom Unlimited credit is a good option. The card charges a low annual fee, and there are 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 a person’s credit score is determined by how long he or she has been in credit.
The 18-year-old credit card offers a $0 annual fee, up to 5% cashback for dining, travel, or drugstore purchases, as well as a $0 monthly fee. You also get up to 1.5% cashback on all purchases. It also allows you to add authorized users for no additional fee.