topic Re: Help, can my 18 yo apply? in Credit Cards

Help, can my 18 yo apply?

slap_happy — Fri, 15 Apr 2016 22:40:52 GMT

Hi, my son is 18, I have made him an AU on a few of my cards, I made him AU on my highest lines all in 5 digits with a 1-3% util, his credit karma shows a 771 score with 3yrs aaoa since Amex started him at 1 month, he somehow inherited my age of account on the other 2. Can he apply for a cc? I have heard that if your under 21 and not in collage which he isn't that he would need a co signer or proof of income, he has not filed taxes yet? Any info would help

Re: Help, can my 18 yo apply?

Anonymous — Fri, 15 Apr 2016 22:45:40 GMT

@slap_happy wrote:
Hi, my son is 18, I have made him an AU on a few of my cards, I made him AU on my highest lines all in 5 digits with a 1-3% util, his credit karma shows a 771 score with 3yrs aaoa since Amex started him at 1 month, he somehow inherited my age of account on the other 2. Can he apply for a cc? I have heard that if your under 21 and not in collage which he isn't that he would need a co signer or proof of income, he has not filed taxes yet? Any info would help

Under the Credit Card Act of 2009 anyone under 21 has to have income to support any credit granted or needs a cosigner. Is your son employed and have a decent income?

Re: Help, can my 18 yo apply?

Callandra — Sat, 16 Apr 2016 00:23:45 GMT

Does he have income? He may need at least $10k a year if he's not in school and not going for student cards.

Re: Help, can my 18 yo apply?

slap_happy — Sat, 16 Apr 2016 00:25:45 GMT

He's on pace to earn roughly 30,000 but has not paid taxes yet, this is the first time he has earned money

Re: Help, can my 18 yo apply?

Anonymous — Sat, 16 Apr 2016 00:37:07 GMT

This is all good to know... this is why I love MyFico!!! Going to follow this thread to see what other bits of info I can learn. Thanks!!

Re: Help, can my 18 yo apply?

Creditplz — Sat, 16 Apr 2016 01:10:27 GMT

My nephew who just turned 18 got a $4,000 approval from NFCU... Has no current employment, and is not yet in school.. Although he is going to go to UCI in August.