or do you have to have a job, house etc?
2007-08-14 13:59:29 · 12 answers · asked by nakatablue 2 in Business & Finance ➔ Personal Finance
what if you have no 'guranteed' income?
2007-08-14 14:10:19 · update #1
There's nothing to stop you applying. But there's also nothing to say that you'll be given one. Depends on your income and whether you have built up any credit rating at all. You might find some companies willing to give you one with a failry low limit.
2007-08-15 05:22:42 · answer #1 · answered by garstard 3 · 0⤊ 0⤋
Technically, you can't have a credit card until you are 18. A contract is required to extend credit, and you must be 18 to have a contract be legal. Capital One, is usually the first credit card company for most people. They will probably give you a $200 limit. You are right about establishing credit. It is important, if not essential for this to be successful in life. Make your payments on time every month for 1 year and they will lower your rate, and extend your credit to say maybe $500. Keep it up and every 6 months try to extend your credit. If you keep it up, you will have great credit and you can buy things like a house in no time at all. Try Capital One, if they don't give you a card, no one probably will.
2016-05-18 00:04:27 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You can apply, but their is no guarentee of getting a card. It depends on the company and the details of the card. If you are a college student you will probably quality for a low-limit credit card. Don't expect to get a card that allows huge balances. I was 21 when I got my first card and only was given a credit limit of $1000.
Just remember to ALWAYS make payments. There is NEVER ANY EXCUSE to not make the minimum payment on a card. If you can't afford to make those payments, then you shouldn't have a card.
2007-08-14 14:07:46 · answer #3 · answered by jaymes_07 7 · 0⤊ 0⤋
Absolutely, if you have a job and a means of paying off the debt. Most companies require a minimum income of $10,000 a year to grant you a card but a few will grant them at $9,000 like Capital One Platinum Mastercard but the interest payments are higher.
2007-08-14 14:08:47 · answer #4 · answered by csmith012953 3 · 0⤊ 0⤋
Yes you can apply at 18, you don't need a house but you need a job.
2007-08-14 14:57:54 · answer #5 · answered by Debs 3 · 0⤊ 0⤋
You can get one, but since you have no previous credit for them to rate you on, your chances won't be very high. If you have a job, that'll help as it shows you have a means of repaying what you spend, but it still won't really guarantee you the card.
Anyways, credit cards should come with government warnings (much like cigarettes): BUYING ON CREDIT CAN SERIOUSLY CRIPPLE YOUR BANK ACCOUNT.
2007-08-14 14:14:06 · answer #6 · answered by Vicsta 3 · 1⤊ 0⤋
Yes, 18 year olds can apply. I'd wait until you're older though. I mean, I'm only 15, but I know what I'm talking about :D.
2007-08-14 14:09:29 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes.
Chances are that you will only get a small initial credit limit as you will have a very limited credit history.
I would be very careful with credit cards as EVERYBODY I know who had a credit card in their teens and twenties got themselves into trouble with it.....including myself!
2007-08-14 14:10:40 · answer #8 · answered by BNG 1 · 1⤊ 0⤋
u can apply for them however you do need an income really so that in any necessary times, it can be paid off if gone into debt!
2007-08-14 14:05:11 · answer #9 · answered by jody m 2 · 0⤊ 0⤋
you can but your age will not necessary guarantee that you will get the credit.
You need to have a regular income and run your bank account well.
2007-08-18 07:32:39 · answer #10 · answered by Rebz 5 · 0⤊ 0⤋