2006-12-27 05:53:55 · 17 answers · asked by shassan95 2 in Business & Finance ➔ Credit
18
2006-12-27 05:55:01 · answer #1 · answered by Joe S 6 · 0⤊ 0⤋
You have to be at least 18. The reason is because law is you cannot enter into an agreement or contract with anyone under the age of 18. When you get a credit card-- you are entering into an agreement to repay the balance you owe on time. But just because your 18 doesnt mean you'll get one. Some companies are afraid to give you a card because your young and no credit history. Some take a chance on you.
2007-01-03 14:41:14 · answer #2 · answered by Big D 1 · 0⤊ 0⤋
18
2007-01-01 21:55:29 · answer #3 · answered by brit 2 · 0⤊ 0⤋
No, you do not have to be 18 years old to have a credit card. Myself, I had my first card at 16. What is required is a sponsor, or co-applicant, usually a parent or legal guardian. The parent/guardian/co-applicant must provide their social security information as well as employment, income, and other details. The account would not be listed on the minors credit report, even though they would have a credit card with their name on it. The account is actually in the name of the guardian and the minor is merely an authorized user. Only when the person is of legal age may they apply to reinstate the account as the primary cardholder. At that time their request would only be granted if they personally had sufficient credit. Currently some credit card companies, such as Capital One, are phasing out their co-signor programs. However, anyone with a credit card account in their name can add an authorized user at anytime. I have known instances in which children as young as 10 have had a credit card. I know that seems ridiculous, but true. There are probably children even younger with cards...say for example Madonna's children. But anyway the answer to your question is no you do not have to be 18 to get a credit card as an authorized user. However to be the primary cardholder on the account, the applicant must be 18 years of age, or in some instances a legal adult- such as an emancipated minor. Hope that helps!
2006-12-27 23:20:52 · answer #4 · answered by creditknowitall 2 · 1⤊ 0⤋
18
2006-12-27 14:01:37 · answer #5 · answered by TKloves 2 · 0⤊ 0⤋
18
2006-12-27 13:55:06 · answer #6 · answered by Anonymous · 1⤊ 0⤋
There's a legal loophole that says that a contract signed by any party that is not yet 18 forms an unenforceable contract, so if the credit card company wanted to, they may very well cater to a person that's 17 years old -- they just can't rely upon him to figure he's bound by the contract, or to remain bound to it.
If's really more to protect credit agencies that the age of 18 is so highly sung of.
2006-12-27 14:05:12 · answer #7 · answered by Em 5 · 0⤊ 0⤋
I'd imagine 18 years old like any other credit card.
2006-12-27 13:55:49 · answer #8 · answered by Anna Simon 2 · 0⤊ 0⤋
I think the real question should be how dumb do you have to be to have a chase visa credit card...
2006-12-27 13:56:27 · answer #9 · answered by Anonymous · 0⤊ 0⤋
At least 18, with proper credit. Unless of course someone makes you an aurhtorized user on there account.
2006-12-27 13:56:03 · answer #10 · answered by peacfulwar 3 · 0⤊ 0⤋