It's not uncommon for parents to have at least one creditcard for their children. Recent high school graduates are more likely to have a teenager-friendly credit card. A survey of parents and recent graduates found that 23% of them had two or more credit cards for children. Capital One Travel Rewards is one popular credit card that teens love. This card gives you 5% cashback on travel.
Secured Sable One Credit Card
Secured Sable ONE Credit card is a great choice for teenagers with poor credit. The card is free of annual fees and offers cash back at selected stores. It also comes with an app that helps track their milestones. The first Sable card could be a $30 credit for a child who has just graduated from highschool.
The 98% approval rate of this credit card makes it great for teens. There is no credit check. Sable One credit cards offer 2% cash back on certain purchases and 1% on all purchases. SableOne card offers dollar-for dollars cash back matching. It's an excellent choice for teens with poor credit histories or who don't want the hassle of a credit check.
Discover it Secured Card Credit Card
Secured credit cards are a great option for teenagers, because they help build a credit history without a high interest rate. This card comes with some restrictions. Teens, for example, should set a spending limit and track purchases. They will also learn the importance and responsibility of paying on time, which will help them avoid becoming financially liable.
Secured credit cards work well for teens because they don’t require any credit checks. There are no annual fees. Many cards have rewards or no foreign transaction fees. This can be very helpful for teens.
Citibank Freedom
The Capital One Quicksilver Credit Rewards Card is a great option for teens and adults looking for a safe credit card. This credit cards offers simple rewards and a $200 signup bonus. The card also offers unlimited 1% cashback for all other purchases. The best part is that there is no expiration date or annual fee.
A credit card for your teenage child is a great way of helping them to build a good credit history. It reports to the major credit bureaus. This will be useful when you apply for future loans. Low interest rates and no annual fees are common with most cards. This will help you save money on your purchases. These cards are a great tool to help your teenager establish credit and teach financial responsibility.
Chase Freedom
Consider a credit line for teenagers. You can avoid unwelcome situations such as theft and damage to your property by using a credit card to establish their credit. Most credit cards offer features that allow you limit spending for authorized users. These cards can also allow you to receive rewards for purchases made on your card. Some geared toward families may offer additional rewards or points for purchases.
If you want to get your teenager started with credit, consider the Discover it credit card. This card is open to young adults with a decent credit rating, but it must be at least 690. The card has stiff penalties for late payments and a 3.3% foreign transaction fee. This is why it's not recommended for frequent shoppers. It is an excellent choice if you intend to use the card to dine out. You can also get a cashback offer on the 100,000 ThankYou points that you earn.