It is true that you need to reach the age of 18 in order to be eligible to have your own credit card, but you should start gathering information long before that. When it comes to teens, there are many options when it comes to credit cards that can be handled with guidance. However, there are many criteria that should be taken into consideration when it comes to choosing the right card in this case. The most important criteria in this regard are definitely the teen’s age, maturity, and financial skill. But, if you make the right choice, you will not bring yourself into the position that you need to find a lender to pay for your children’s college or some other crucial things. Smart parents start thinking about this on time and manage to teach their children how to handle credit cards and finances in general in a very responsible manner. However, the most important thing to know is that best credit cards for teenagers are actually best credit cards for anyone who is a starter and completely unfamiliar with anything that goes together with this. The main characteristic one may have is responsibility, and if you don’t have it, you can tank your credit score and dig you deeper into debt. But, let us see what are some of the best credit cards for teens.
- Secured MasterCard from Capital One
This credit card is usually marked as one of the best credit cards for total beginners. The best thing about it is that a security deposit of $49, $99 or $200 can give you access to a credit line of $200. Although it does not seem to be much, if you are a beginner, this is more than enough to start with. As the time goes by, and you pay your bills on time, you become eligible for a higher line of credit.
- Discover It Card for Students
This card is perfect for students, and it comes as a privilege to those who are straight A. The users of this card are also eligible to receive 5% cash back on purchases in different spending categories, including grocery stores, gas stations or restaurants, and there is also some extra cash every school year if their GPA is above a 3.0. Sounds excellent for a credit card!
- Chase Freedom Card
Chase Freedom Card is also very popular among those people who don’t have much of a credit history, as it offers many advantages to beginners. The users are eligible to get 5% cash back in a series of rotating categories that they are probably spending money in any way, such as department stores, restaurants, and drug stores. There is no annual fee, but there is a sign-up bonus of $150 if you spend $500 in your first three months.
- Citi ThankYou® Preferred Card for College Students
This is an excellent card for teenagers and beginners, as it allows earning points on restaurants, entertainment, retail, that is; almost all of those places frequently visited by people of this age group. It does not have the annual fee, and it has a great Google alert a week before your payment is due. Additionally, you may also set up auto-pay for at least the minimum payment due each month.
- Wells Fargo® Cash Back℠ College Credit Card
This card will offer 3% cash back on gas, grocery and drugstore purchases and 1% back on everything else, and the good thing is that it does not have the annual fee. In general, the best thing about this card is that you can redeem your cash back points directly into your savings account, or you can redeem them for travel or gift cards. Sounds cool, right?!