Can I Apply for a Credit Card at 17?
I’ll be 18 on the 27th of this month. I want to get a credit card so I can buy a new macbook without saving up. I have a job an can afford the payments on the card but since I’m 17 can I apply for a card? I have a debit card already but I have no credit on it, its only linked to my bank account. So would I be able to apply for a card now or will I have to wait?
tried to apply for the card… no luck said i gotta be 18. maybe i could get my mom to apply and pay her.
The type of card you choose is dependent upon how you plan on paying your card and what you’re looking for. If you plan on paying your balance in full each month (and they calculate interest based on your average daily balance for one statement cycle instead of over a 2 month billing period) then there is no reason for you not to do cash back or points because even though those cards have higher interest rates if you’re paying off in full every month by the payment due date you’re not going to be charged finance charges.
http://hubpages.com/_yaans/hub/How-to-Select-best-credit-card
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You can apply, but it doesn’t mean you’ll get it. They do credit checks and I’m sure you have no credit. Unless you can get your parents to cosign or something.
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Legally they can’t award you one, as a credit card invariably involves a binding agreement. At 17 you are not legally capable of entering into a binding contract. That being said, credit card companies knowingly bend this law anyway, as in most cases they know that if the cardholder doesn’t pay, his/her parents will.
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Uhm, unless you want to deal with high interest loans and mortgages when you’re older – don’t mess with credit. The way you say you want to use the card, it sounds like you’re gonna have a high utilization, and you’ll run a balance – nice way to let your score plummet while you’re still young. Just save up for your macbook, or look at less flashy laptops – I’m a 3rd year college student, have been runnin on nothing more than my $300 Asus Eee PC.
Some say, don’t apply for credit unless you need it. I say, if you need credit you probably shouldn’t be using it.
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you should be able to get approve for a student card go to http://www.fastcreditcardapprovals.com under student cards.
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The type of card you choose is dependent upon how you plan on paying your card and what you’re looking for. If you plan on paying your balance in full each month (and they calculate interest based on your average daily balance for one statement cycle instead of over a 2 month billing period) then there is no reason for you not to do cash back or points because even though those cards have higher interest rates if you’re paying off in full every month by the payment due date you’re not going to be charged finance charges.
http://hubpages.com/_yaans/hub/How-to-Select-best-credit-card
References :
http://hubpages.com/_yaans/hub/How-to-Select-best-credit-card