How to get a credit card as a student – Now federal law states that credit card applicants under the age of 21 must either be able to prove enough independent income to show an ability to repay the credit card debt or get a co signer. If you do decide to cosign the card it may take some research to find the right card.
To be eligible for a student credit card you ll generally have to meet the following requirements.
How to get a credit card as a student – Also as a result of the credit card accountability responsibility and disclosure act of 2009 known as the credit card act if you re under 21 you must show that you earn independent income. When applying for a credit card in your own name issuers typically require you to be 18 or over. Otherwise you will need to become an authorized user on your parent s guardian s or another adult s account who is over the age of 21. How to get a credit card as a student
Only a small handful of major banks and perhaps some credit unions allow cosigners on credit cards including wells fargo bank of america and u s. If you are under 21 you must provide proof of your independent income or assets to show that you will be able to repay the amount you charge. Be at least 18 years old. How to get a credit card as a student
Cosigning a credit card for a student is not a decision to take lightly especially if there is any question as to the student s ability to pay the card balance. The terms and conditions for some student credit cards also state that the card is specifically for currently enrolled students. The problem is that credit card issuers don t share publicly what income level they ve determined is sufficient to show an ability to repay. How to get a credit card as a student
Typically you must be at least 18 to apply for a credit card. You have to be a student to get a student credit card most of the time. Most student credit cards require applicants to provide the name of their school their expected graduation date or some other proof of enrollment. How to get a credit card as a student