A credit card is a step toward becoming a responsible financial adult. It introduces you to the world of credit-building and bill-paying, which almost everyone must deal with at some point. For this reason, getting started as soon as possible might be beneficial. But obtaining your first credit card isn't necessarily the easiest of adulthood's "firsts." So if you want to know more about how to get a credit card at 19 and some of the best ways to establish credit at 19. Let’s dive into the details!
Can I Apply For a Credit Card at 19?
Absolutely, You can apply for a credit card at 19. In fact, the minimum legal age for applying a credit card is 18. However, the majority of credit card issuers will ask you to present proof of income in order to demonstrate your ability to independently pay your payments if you are under 21 and have a poor credit history or no credit history at all.
Why Should I get a Credit Card at 19?
You should get a credit card as early as possible 19 is a good age to start. Your length of credit history, or the amount of time you've had credit accounts in your name, is one of the most crucial aspects in building good credit (after making on-time payments and maintaining a low total debt load). Lenders in the future want to know that you can maintain good credit for a long time.
How Does Getting a Credit Card at 19 Help in Credit Building?
There are numerous benefits to having a high credit score. The greatest rates on loans and credit cards will be available to you, and it may also affect how much your auto and home insurance will cost. The top rewards credit cards can be available to you if your credit score is excellent. And perhaps most interestingly, if your employer asks to see your credit report, having a strong credit history enhances the likelihood that you'll receive that job or promotion.
To avoid being credit invisible(having no credit history at all), opening a credit card is also essential. You lack a track record demonstrating your capacity to borrow money if your credit is invisible. According to the Consumer Financial Protection Bureau, about 26 million Americans, or about one in ten adults, are credit invisible.
Best Ways to Get a Credit Card at 19
Here is a list of the best ways of getting a credit card at 19:
- Apply For Secured Credit Card
- Become a Registered User
- Get a Student Credit Card
- Find a Co-Signer
Let’s get into the details of different ways of getting a credit card at 19!
- Apply For Secured Credit Card
When a cosigner is not available, one of the best way to establish credit at 19 is to get secured credit cards. The issuer will require applicants to pay a security deposit (often at least $500), which serves as the card's credit limit. Similar to a standard credit card, a secured card allows the cardholder to make purchases up to the credit limit but requires that the balance be paid in full each month. The security deposit will be reimbursed if the cardholder closes the account and settles the total debt (including interest and fees).
- Become a Registered User
A simple approach to getting a credit card at 19 quickly without having to complete a drawn-out application is to become an authorized user. A credit card with the authorized user's name on it is frequently issued to the authorized user. Request the addition of yourself as an authorized user from a parent, guardian, friend, or another family member who might feel comfortable doing so. Adding authorized users may incur a minor fee from some card issuers.
Keep in mind that both cards must be paid off by the principal cardholder. To prevent overspending and late payments, make sure to create a spending and payment plan with the principal cardholder. Before assuming the risk, be sure the card issuer discloses permitted user activity to credit bureaus. Keep in mind that for young credit card users, building credit for better cards is a key objective.
- Get a Student Credit Card
Students between the ages of 18 and 22 who typically have little to no credit history are the target audience for student credit cards. For college students looking to obtain their first credit card, Discover it® Student Cash Back is a reliable choice.
This card offers 5% cash back on everyday purchases at different locations each quarter like Amazon.com, grocery stores, restaurants, gas stations, and when paying with PayPal, up to the quarterly maximum once activated, and 0% intro APR on purchases for 6 months, after which the standard variable purchase APR of 15.99% - 24.99% applies. Additionally, there is no yearly charge and you can automatically get 1% cash back on all other transactions.
- Find a Co-Signer
To be approved for a credit card, applicants between the ages of 18 and 20 must have either a cosigner—such as a parent, guardian, or another family member—or documentation of their employment or income. This information establishes the new cardholder's credit limit and assures the issuer that they will be able to make on-time payments on their debts.
Verify that the cosigner has a solid credit history and a good possibility of being accepted. Keep in mind that a cosigner is equally liable, both legally and financially, for any card's outstanding balance. Both the cardholder's and the cosigner's credit scores will suffer if the cardholder goes into debt. Therefore, both parties must exercise restraint and refrain from overspending. Cosigners are not permitted on credit cards by all institutions.
Top Credit Builder Cards to Get at 19
The ideal first credit card for you will be determined by a variety of elements, such as whether you are just beginning your credit adventure or already have some credit history, as well as characteristics like your willingness to pay an annual fee and your work position.
- Zolve Azpire Credit Builder Card
- Petal® 1 “No Annual Fee” Visa® Credit Card
- Tomo Credit Card
- Capital One Quicksilver Secured Cash Rewards Credit Card
Getting a credit card at 19 can be very liberating, but remember that with power comes responsibility. First-time users should exercise particular caution while using their credit cards to make purchases. Purchases that cannot be made in cash should not be made. Every month, pay off the entire debt to avoid incurring interest, pay your bills on time to avoid late fees and safeguard your credit history. By using credit cards responsibly, you may prevent them from charging you extra for their convenience and security.
Frequently Asked Questions(FAQs)
What is the best way to build credit at 19?
The best way to build credit at 19 is to get a good credit builder card that reports to credit bureaus, this process will help you in building your good credit history.
How to get a credit card at 19?
After turning 18, you can apply for credit with proof that you have the ability to pay. You can opt for a credit builder credit card or a secured credit card.
Can you get a credit card at 19?
Yes, as per law anyone under age of 18 can get a credit card. Although, it's hard to get because credit card companies ask for proof of your independent income.
How to apply for a credit card at 19?
You can apply for a credit card at 19 by filling an online application form easily with basic important documents like age proof, income proof, etc.
Why should I submit a credit card application at 19?
Having a credit card can help you in your personal finances in a variety of ways when handled appropriately, like establishing an excellent credit history.
