If I am an Emancipated Minor, can Obtain a credit card?

Question

Emancipation of a minor , basically declares a minor an adult with certain provisions. You can contract for real estate, have cars under your name etc.

Answer 1

Good question. The answer is probably not.

You are correct in that credit cards have an underlying contract and in theory an emancipated minor could enter into such a contract. Theoretically a minor could as well, except that a minor can disaffirm his or her contracts upon reaching majority (and usually shortly thereafter). So no one wants to take the risk of contracting with a minor, unless it is very likely that the minor will not disaffirm the contract.

For example, buying a TV is a contract, but a minor could probably buy it for cash with no problem. Oddly enough the minor might be able to make the store take it back, even if he broke the TV!!

A bank certainly does not want to take such a risk, especially on something as unsecured as a credit card. Now, most credit contracts have a policy that you have to be 18 to enter into the contract. Your theory is that because you have all the rights of an 18 year old, you should also be able to get the credit card.

Unfortunately for you, this is really the bank's decision. They do not have to let you have a credit card. At best they would be making a decision to waive the requirement based on your situation. Thus, your best bet would be a local bank at which you already have an account. You can rest assured the officer will want to see your court orders.

Also of note, you really do not have any federal civil rights arguments either because age is not a consitutionally protected class. Your state might have some protections, so you would want to talk to an attorney in your area.

I think you would have a better argument to get a checking account, because it is more of a neccessity than a credit card.

Most states have a bar referall service, where you can meet with an attorney for a short time for a small fee. I would look into that if I were you, if you are serious about finding an answer for sure.

Please note the above is not a legal opinion, and should not be relied upon in anyway. I am a law student, and not an attorney.

Answer 2

If you have a job, and have done something to give yourself some credit, possibly. However, I would warn against it because it takes a huge amount of self control to not buy things on a credit card that you can't afford to pay for at the end of the month. If you do get one, try the American Express cards. They have some just for young people and students, and you have to pay the full balance at the end of the month. It may seem like a pain, but a huge amount of american adults have at least $8,000 in credit card debt. It's much easier to do than you think. A better way to build credit is to go and make a $500 loan at your back, and pay it back paying slightly more than the minimum payment every month. Do that once or twice, then start making larger steps.

Answer 3

Actually Meryvn's or Target are probably your best bet. If you score high enough in other areas your chances are better. For example, having a long stable residence & a minimum of a one year employment history adds to your chances. Most credit card companies don't issue a credit card if you do not have an open savings or checking account. Just don't forget to ask yourself WHY you NEED the credit card. If you can pay cash..do it! Using credit can be very deceiving. Its easy to pull out the card but hard to write the repayment check. Be Careful!!

Answer 4

i feel bad for you that your life led you to need emancipation. however credit card companies will not issue a credit card until your 18, unless you lie to them. I seriously would not recomend that. It seems like you may have had a difficult enough start in life. I wouldnt make it worse. So as a mom i encourage you not to even pursue a credit card at this point in your life. Good things are worth waiting for.

Answer 5

Please be mindful that the credit review process for an emancipated minor is likely to be different than the ordinary credit review process.

While you are a quasi-adult in the eyes of the law, your approval for credit agreements is based on your

Character
Capacity

and

Collateral


If you are a quasi-adult with no capacity to pay back the loan, then the probability that the creditor will deny your credit application is very high.

If you are an quasi-adult with no collateral to "back up" the possible default of the agreement, then the probability that the creditor will deny your credit application is very high.

Answer 6

I would like to know why you are an emancipated minor.

To answer your question you have to earn money before the banks will grant you credit and you must have a credit history so that they can determine your creditworthiness ie your ability to repay your debt.

Answer 7

well you just need a bank account and if they let you have one which they will then you'll have offers from credit card holders... capitol one is the easy one to get and best...

but dont get a credit card unless your planning on paying 100 dollars or more a month for it... okay?

Answer 8

For Finance and credit solutions I recommend this website where you can find all the solutions. http://personalcreditsolutions.info/index.html?src=5YAPZPovy3gpS1

RE :If I am an Emancipated Minor, can Obtain a credit card?
Emancipation of a minor , basically declares a minor an adult with certain provisions. You can contract for real estate, have cars under your name etc.
Follow 9 answers

Answer 9

I am sure you could. That is of course you have a job to pay it back. Go to citibanks website and fill out their online application and try it.
http://www.citibank.com/us/d.htm

Answer 10

but have you got an income?