Best 1st credit card

mommy2allyandaveri

DIS Veteran
Joined
Sep 19, 2006
My Senior needs a credit card to get her credit going in a positive way. Anyone have a good first card. I would like some sort of rewards card with no annual fee. Might as well earn some sort of reward. It will be for emergencies only, except for a few transactions just for credit purposes.
 
I got my 18 year old a visa rewards from our local credit union and had them cap the limit at $1500. He has used it at college and for spending, paying his bill off each month. Discover has a good student card as well. I'd start at your local bank and see what they can offer and then go from there. If it is going to be for emergencies, the benefit of a rewards card is diminished. No fee is also a key.
 
from my experience newbie (aka-no credit record) customer reward based cards come with either fees or high interest-neither of which i wanted our oldest to sign on for. we went instead with a credit union card that offered 'passport' benefits (significant discounts at area businesses and restaurants she would already be using) along with other traditional c/c benefits (extended warranty and such).

we are a debt free household so we did'nt want our kiddo to either pay for having a credit card or get into a mindset that she should go into debt to earn rewards-i know it's not everyone's attitude but it's what's worked for us (and to her credit-she's 2 1/2 years out of college/no debt/all student loans paid off-or rather in an interest baring savings account while they go interest free w/no payments-all on little more than minimum wage).
 


If it someone like a college student who will only use the card for emergencies or small expenses, it probably doesn't matter which card you get. Assuming they pay off the balance each month, then you might check to see who has the smallest annual fee. Any kind of 'rewards' will probably be minimal since they aren't spending enough money to accumulate such rewards.
 
Both of my boys went with Wells Fargo. They offer free checking for teens with the ability to get a Wells Fargo credit card. It was a great beginner card - a small credit limit to start with and then Wells Fargo increases the limit as they show they can handle credit.
 
We'll be going Wells Fargo with our two kids that need credit cards (DS23 and DD17).

With my oldest, we got a joint credit card through TD Bank when she was going off to college. We actually still have it (she's 25). Because she loves to travel, we wanted her to have a comparatively high limit--$5k--so that, if she were to get stuck in a foreign country, she could pay for a hotel, a plane ticket, etc. The only things she uses it for now are plane tickets home (I'll gladly pay!) and she has it on her Uber account. I'm not going to quibble over paying for a late-night ride home.

For DS23 and DD17, I like the idea of a shared credit card. It allows for parental oversight. Note: DS23 has Asperger's and a number of other issues, which is why he's a late bloomer. DD17 will be heading off to college like a regular kid.
 


Both of my girls got added to my Capital One card when they were 16. They got their own cards / numbers, it is listed on the statement which card # made the purchase, and I have the card paid by my bank account in full every month on autopay. So, they built credit with little / no risk. They were responsible for sorting thru the charges every month and making the appropriate payment to me for purchases I wasn't covering. As they aged, they became responsible for more and more.

I'll admit, my intention was to take them off and get their own card ASAP. However, it just worked really well and it builds the same credit as having their own. My DD22 bought her first brand new car about a year ago. Between the credit card and a student loan, she already had a decent score. We keep talking about her own card, but get lazy and don't do it.
 
Yeah, I know my oldest eventually got her own card. She mostly uses debit, though. She's old enough (and independent enough) that it's now her business, not mine. She also lives 800 miles away--it would be tough for me to know her finances, even if I cared.
 
DiscoverIt has been chasing DD20 with pre-approved offers since she graduated High School. She has a strong credit score because she has been an authorized user on a couple of my accounts since she was eligible at 16 (which I don't understand, since I'm the one that pays the bills, but for whatever reason that's the way it works).

DDs boyfriend who has no credit score due to no history, but a 15-20 hour a week min wage job, got approved for a Chase Freedom a few weeks ago.
 
I would like for her to have her own card and I will have access to it for monitoring. No annual fee for sure, I wouldn't want her to use it just for the rewards but that would be a nice perk.
 
Well dang, it looks like she has to be 18. Guess we will be waiting a while. She turns 17 next month.

My kids both had credit cards thru our credit union when they turned 16. They went with Wells Fargo when they turned 18 since it was a bigger bank and had access on their college campus. Start with a credit union.
 
My kids both had credit cards thru our credit union when they turned 16. They went with Wells Fargo when they turned 18 since it was a bigger bank and had access on their college campus. Start with a credit union.

I don't know if things changed or if it was just our CU. When my oldest was 16 she was able to set up a checking account and get a debit card with our CU. The kids have had savings account there since they were toddlers. Two years later when 2nd DD wanted to set one up they told her she couldn't even get a debit card until she was 18. I am fairly certain you can no longer get a credit card on your own before 18 as you are not legally able to sign contracts under 18. Just googling everything I read says the legal age in the United States to obtain your own credit card is 18 years. Interesting the CREDIT CARD ACCOUNTABILITY RESPONSIBILITY AND DISCLOSURE ACT OF 2009 says you really need to be 21. My kids did not need a cosigner and they just filled out the regular application that asked salary, no documentation needed when they got their Discover cards at 18, so I guess that is not enforced so well.

‘‘(8) APPLICATIONS FROM UNDERAGE CONSUMERS.— ‘‘(A) PROHIBITION ON ISSUANCE.—No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B).
‘‘(B) APPLICATION REQUIREMENTS.—An application to open a credit card account by a consumer who has not attained the age of 21 as of the date of submission of the application shall require—
‘‘(i) the signature of a cosigner, including the parent, legal guardian, spouse, or any other individual who has attained the age of 21 having a means to repay debts incurred by the consumer in connection with the account, indicating joint liability for debts incurred by the consumer in connection with the account before the consumer has attained the age of 21; or
‘‘(ii) submission by the consumer of financial information, including through an application, indicating an independent means of repaying any obligation arising from the proposed extension of credit in connection with the account.
‘‘(C) SAFE HARBOR.—The Board shall promulgate regulations providing standards that, if met, would satisfy the requirements of subparagraph (B)(ii).’’. SEC. 302. PROTECTION OF YOUNG CONSUMERS FROM PRESCREENED
 
We added both of our kids to our account when they turned 16. My son is 22 and a college student. My 19 yr old has excellent credit for her age. She works full time. She just bought a brand new car and got her own credit card in her name.
 
Do you have your own cc that you can add her as an authorized user? My 15 yr old is AU on one of my Citi cards, and one of my Amex cards. At 17 yrs old, your DD could be added on to pretty much any issuers card. If you have a good credit score, it will help her as well. Conversely if your credit score isn't great, that won't help her.

In addition, if it's an AU card you can easily monitor usage when you log into your own account since any AU activity should show up on there. If she got her own card, she would set up her own online login which is fine if she grants you use of her login information, but not great if she balks at that (or changes it and doesn't tell you).
 
For my first credit card, I didn't get approved without my mother consigning and I was just an authorized user due to no debt in my name. We just did that through our bank since really it was about building credit, no rewards.

However, my first actual credit card was the Citi Double Cash, which is great. At the time I was straight out of grad school so wasn't approved for a giant amount but I was approved. Good rewards and no annual fee.
 
Interesting the CREDIT CARD ACCOUNTABILITY RESPONSIBILITY AND DISCLOSURE ACT OF 2009 says you really need to be 21. My kids did not need a cosigner and they just filled out the regular application that asked salary, no documentation needed when they got their Discover cards at 18, so I guess that is not enforced so well.

‘‘(8) APPLICATIONS FROM UNDERAGE CONSUMERS.— ‘‘(A) PROHIBITION ON ISSUANCE.—No credit card may be issued to, or open end consumer credit plan established by or on behalf of, a consumer who has not attained the age of 21, unless the consumer has submitted a written application to the card issuer that meets the requirements of subparagraph (B).
‘‘(B) APPLICATION REQUIREMENTS.—An application to open a credit card account by a consumer who has not attained the age of 21 as of the date of submission of the application shall require—
‘‘(i) the signature of a cosigner, including the parent, legal guardian, spouse, or any other individual who has attained the age of 21 having a means to repay debts incurred by the consumer in connection with the account, indicating joint liability for debts incurred by the consumer in connection with the account before the consumer has attained the age of 21; or
‘‘(ii) submission by the consumer of financial information, including through an application, indicating an independent means of repaying any obligation arising from the proposed extension of credit in connection with the account.
‘‘(C) SAFE HARBOR.—The Board shall promulgate regulations providing standards that, if met, would satisfy the requirements of subparagraph (B)(ii).’’. SEC. 302. PROTECTION OF YOUNG CONSUMERS FROM PRESCREENED

Section (B)(ii) basically says if they have a job and fill out an application giving that information, they can be approved if they are under 21.
 

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