CREDIT CARD	BEST FOR	CREDIT SCORE	ANNUAL FEE	WELCOME BONUS
Discover it Student Cash Back	Best for Students Starting To Establish Credit	Fair/New to Credit	$0	Cashback Match
Discover it Student Chrome	Best for Students Who Mostly Spend on Gas and Dining	Fair/New to Credit	$0	Cashback Match
U.S. Bank Cash+ Visa Secured Card	Best for High Rewards on a Secured Card	Bad/Poor	$0	N/A
Capital One Quicksilver Secured Cash Rewards Credit Card	Best Simple Rewards for Those With Some Credit History	Limited, Bad	$0	N/A
U.S. Bank Altitude Go Visa Secured Card	Best for Dining Rewards on a Secured Card	Bad/Poor	$0	N/A
Tomo Credit Card	Best for Those With Solid Financial Standing	No credit check or credit history required	$2.99 per month	N/A
Petal 1 No Annual Fee Visa Credit Card	Best Overall For Prequalification	Fair/No Credit	$0	N/A
Avant Credit Card	Best for No Security Deposit Requirement	Fair Credit	$59	N/A
Discover it Secured Credit Card	Best Welcome Bonus for a Secured Card	New/Rebuilding Credit	$0	Cashback Match

Pros of Credit Cards

• Opportunity to build credit: Using a credit card responsibly, by making on-time payments and avoiding high balances, can help you establish and improve your credit history. This can help you get approved for other forms of credit, like a mortgage, down the road.


• Rewards and cash back: Many credit cards offer rewards programs that allow you to earn points, cash back, or miles for every dollar you spend. These rewards may be redeemed for things like statement credits, travel, gift cards and more.


• Fraud and theft protections: Most credit cards come with zero liability protection. So if your card is lost or stolen, you won’t be on the hook for any unauthorized purchases.


• 0% intro APR offers: Certain credit cards offer a 0% introductory APR period during which you can make purchases or transfer balances without accruing interest. These 0% intro APR offers, which may last for 15 months or longer, may be ideal for financing a large purchase interest-free.


• Travel perks: Frequent travelers will appreciate that some credit cards provide travel-related benefits and protections such as trip insurance, rental car insurance, airport lounge access and the ability to transfer rewards points to hotel and airline partners.

Cons of Credit Cards

• High standard interest rates: Outside of 0% APR promotional periods, credit cards are considered a high-interest form of debt. Standard APRs generally range from the mid-teens to high twenties. You can avoid interest charges by paying off your balance in full each month.


• Other fees may apply: In addition to interest charges, credit cards may come with other fees, such as annual fees, late payment fees, foreign transaction fees and balance transfer fees. These fees can add up quickly and eat into any rewards you may earn.


• Risk of overspending: Credit cards can make it easy to spend beyond your budget as you don’t need to have cash on hand to make a purchase. If a high credit card balance becomes difficult to pay off in full, this can lead to carrying a balance and accruing interest if you’re not within an introductory 0% interest period.


• Approval requirements: Some credit cards may have strict approval requirements, such as a minimum credit score or income level. This can make it difficult to qualify for them, especially if you’re new to credit.


• Risk of credit damage: If you miss payments or carry a high balance, this can negatively impact your credit score and make it harder to get approved for credit in the future.

Younger teenagers can become authorized users on parents’ or guardians’ cards in some cases, but must be 18 years old to become the primary account holder on a credit card. For those 18 to 20 years of age, a co-signer may be required if proof of independent income can’t be produced.

To become the primary account holder on a credit card, federal law requires you must be at least 18 years of age. If between the ages of 18 and 21, a co-signer will be required if proof of independent income isn’t provided with the application. Younger teenagers can become authorized users on parents’ or guardians’ cards in many cases and can present a way to help teens get a jumpstart on building credit and help teach your kids responsible financial habits.

While it is not necessary to carry a credit card, giving up on credit cards completely may forfeit a number of opportunities for financial growth and benefit. Credit cards provide a relatively easy way to build a credit history which in turn is a requirement for borrowing money to make large purchases (houses, cars, etc.).

By foregoing credit cards, consumers may also miss out on rewards programs, fraud protection and any service requiring you to have a credit card on file—for example, renting a car or booking some hotel rooms. (Debit cards can be used to do some of these things, but using a debit card comes with other disadvantages, such as tying up funds in your bank account). If you’re committed to living a life without credit cards you can certainly use a mix of cash, checks and debit cards and avoid the risks credit cards may pose.

Several factors may make it more difficult for you to obtain a credit card. If you do not have a steady job or provable source of income, you are less likely to receive approval for a credit card. Similarly, if you have too much debt, a bad credit score and history, are under 18 or do not have a Social Security number, getting a credit card in your name can be very difficult. While there are ways to work around these issues, including some—like becoming an authorized user or getting a secured card—it can take some persistence and patience while working through the process.

To get approved for a credit card, start by checking your credit score with one of the top credit monitoring sites. Then search for cards that match your credit rating. While credit card companies don’t generally disclose the exact credit score that they require for their cards, some will provide a range such as Excellent, Good, Fair or Rebuilding.

Some card issuers also offer preapproval checks that do not impact your credit score. There’s no obligation to move forward with applying after you’ve been preapproved. But if you do decide to sign up for a card, you’ll be asked to fill out a full application which may involve a hard inquiry on your credit report.

Even if you don’t yet have a credit score, you might still be able to get approved for a secured card. Alternatively, you could apply for an unsecured card with a co-signer or wait to apply until you’ve had time to build credit through other means such as being added as an authorized user to someone else’s card.

Here are some of the most common eligibility requirements you’ll need to meet in order to be considered for a credit card:

• Minimum age: You must be at least 18 years old to apply for a credit card on your own. Some credit cards may have a higher minimum age requirement. If you’re applying for a credit card under the age of 21, you’ll need to verify that you have an independent source of income.


• Social Security number: Most credit cards will require you to provide a Social Security number when you’re applying for a credit card. However, many card issuers will accept an Individual Taxpayer Identification Number (ITIN) instead.


• Contact information: You’ll need to provide personal information including your full name, address and date of birth. It’s also common for credit card issuers to ask for your email address and phone number.


• Income: Credit card issuers will typically require you or someone in your household have a certain level of income to qualify for a credit card. This helps ensure that you have the ability to pay back any debts you incur on the card. Those with income that normally be below the card issuer’s minimum requirement, may still be able to qualify for a card by providing a security deposit.


• Credit history: If you have information on your credit reports, it might be a major deciding factor in the issuance of a credit card. Depending on the card that you’re applying for, it may have a minimum credit score requirement.

Some of these requirements are more universal than others. For example, the minimum age requirement will always be 18 regardless of the credit card that you’re applying for. However, minimum income and credit score requirements can vary widely depending on the issuer and the type of card.

Here are a few strategies that may help you get a credit card with no credit:

• Become an authorized user: One simple way to obtain a credit card despite a lack of credit is to become an authorized user on someone else’s credit card. Becoming an authorized user involves finding a trusted and trusting friend or family member to add you to their credit card account as an authorized user. This usually gives you access to many of the same benefits as the primary cardholder, including your own card with your own name on it. Many banks report authorized user activity to the three major credit bureaus.


• Find a cosigner: Another option is to find a co-signer to sign on your own credit card application. This person is a guarantee to the bank that if you aren’t able to make your credit card payments, they will. If you’re looking for a co-signer, make sure you choose someone with a good credit score and steady income who can help increase your chances of being approved for a credit card.


• Apply for a starter card or student card: Starter credit cards are designed for people with little or no credit history while student credit cards are designed for college students. Both types of cards tend to have lower credit limits and fewer rewards than other cards, but they can be a good way to start building your credit history as they may be easier to get approved for.


• Provide a security deposit: Secured cards tend to have more lenient credit requirements since the security deposit reduces the card issuer’s risk. If you’re unable to qualify for an unsecured card but you can afford to set aside money for a deposit, applying for a secured card could be an option.