Congratulations, you've finally turned 18! You must be excited about all the new opportunities and responsibilities that are now open to you, including applying for credit cards. You might be wondering which credit card is the best for you as an 18-year-old. Worry not, because Flik Eco is here to help you make an informed decision! In this article, we'll discuss some of the best credit cards for 18-year-olds and provide valuable tips for managing your credit wisely. So, let's dive in!
Best Credit Cards For 18 Table of Contents
Student Credit Cards
As an 18-year-old, you might be starting college soon. If that's the case, you should consider applying for a student credit card. These cards are specifically designed for college students and usually offer rewards, such as cash back on specific purchases or points towards travel or other perks. Some popular student credit cards include:
- Discover it Student Cash Back
- Chase Freedom Student
- Capital One Journey Student Rewards
Built-in benefits and easy approval
<Student credit cards come with benefits tailored to students, such as good grades rewards, free access to your FICO credit score, and no annual fee. These cards also have more lenient approval requirements, making them easier to get approved for even if you have limited or no credit history.
Secured Credit Cards
If you're 18 and have no credit history, a secured credit card might be the best option for you. These cards require you to make a deposit, which usually acts as your credit limit. They are designed to help you build credit over time, as long as you use them responsibly and make timely payments.
- Discover it Secured
- Capital One Platinum Secured
- OpenSky Secured Visa
Establishing and building credit
<Secured credit cards report your payment activities to the three major credit bureaus, helping you build and establish good credit habits. Once you've shown responsible usage, you can eventually transition to an unsecured credit card with more benefits.
Authorized User on a Parent's Card
Another option for 18-year-olds is to become an authorized user on a parent's or guardian's credit card. This allows you to use their card while also benefiting from their good credit history. Before choosing this option, make sure the primary cardholder has a good credit score and responsible credit habits.
Jumpstart your credit history
<Becoming an authorized user can be beneficial in kickstarting your credit history, but it's essential to discuss the responsibilities and expectations with the primary cardholder. Keep in mind that their credit habits can impact your credit score, both positively and negatively.
Best Credit Cards For 18 Example:
Let's say you're an 18-year-old college student named Jane. After doing some research on Flik Eco, Jane decides to apply for the Discover it Student Cash Back card. She gets approved and starts using her new credit card for textbooks, grocery shopping, and dining out. By using her card responsibly and paying off the balance every month, Jane earns a significant amount of cash back rewards that she can redeem for statement credits or other rewards. In addition, by making timely payments and not exceeding her credit limit, Jane is building a positive credit history that will help her later in life when applying for loans, renting apartments, or even landing a job.
As you can see, finding the best credit card for an 18-year-old is a crucial decision that can impact your financial journey for years to come. While there are many options to choose from, it's essential to evaluate your individual needs, financial goals, and habits. After reading this guide, we hope you are better prepared to make a well-informed decision on which credit card best suits your needs.
At Flik Eco, our mission is to provide relatable and authoritative personal finance tips to people like you. We invite you to explore our other guides and to share this article with your friends and family. Remember, making wise financial decisions today can lead to a bright and financially secure future!
