I would like to apply (and hopefully get approved) for a credit card so I can start to build my credit. The problem is that I am sixteen.
Is there a way that I can get a legal credit card for someone that is underage.
I want a credit card that I can charge small amounts to the card and pay back to build up my credit.
I do not know if this is possible but that is why I am asking.
Please include as much info/websites as you can in your answers.
2007-02-09 10:10:18 · 8 answers · asked by Red Encryption 2 in Business & Finance ➔ Credit
You are unlikely to find any sophisticated party (such as a credit card company) that will enter in to a contract with you. The reason is that when you enter in to a contract while you are below the age of majority (18) you have what is called an infancy defense. That means you can get out of the contract because you are underage. Thus, it is likely that the only way you will get a credit card is if someone 18 or older co-signs and takes responsibility for your contractual obligations. You can then be listed as a secondary name on the credit card.
2007-02-09 10:42:00 · answer #1 · answered by Katt_in_the_Hat 6 · 3⤊ 0⤋
If you are not buying a house you do not need a credit card. Credit cards are the biggest trap in the world. The best thing you can do is learn to manage your money. The banks and CC companies are out to get you in debt.
STAY AWAY!
Practice "Delayed Gratification". Basically, save up the money and buy things when you have the cash.
Check out the PBS.org site.
2007-02-09 10:24:11 · answer #2 · answered by Sloe3D 3 · 1⤊ 0⤋
You might try getting one with your parents as a authorized user with a low credit line. This would show up on your credit and help you get established. Otherwise you are under the required age to sign a legal contract.
2007-02-09 10:15:17 · answer #3 · answered by ? 7 · 2⤊ 0⤋
What on earth do you NEED a credit card for at 16?
2007-02-09 10:14:17 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I got my first card when I was 14 or 15 I think. My parents helped me got one. My mom added me to her card. She called the credit card company and told them to decrease the limit, just in case I go crazy. Talk to your parents.
2007-02-09 13:47:34 · answer #5 · answered by redintegra19 1 · 0⤊ 0⤋
No, yet continuously ensure that the positioning makes use of protection (like SSL--maximum browsers will practice some type of icon indicating the positioning is shield) and that you're ordering from a respected business enterprise.
2016-11-26 20:05:25 · answer #6 · answered by madill 4 · 0⤊ 0⤋
Spend less than you earn. Save CASH. You will NEVER need credit.
2007-02-09 11:04:49 · answer #7 · answered by STEVEN F 7 · 0⤊ 2⤋
cant get one until u are 18
2007-02-09 10:24:01 · answer #8 · answered by r c 2 · 1⤊ 0⤋