topic Re: Which CCs to apply for high schoolers? in Credit Cards

Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 19:29:05 GMT

Can someone recommend companies to apply with that will take on 17 year old high schoolers?

There are a lot of companies out there offering cards to "students" in general, but most usually it's for college students, and some companies don't want to approve 17 year olds in the first place. Yet I know some people have managed to get their 17 year olds approved.

Re: Which CCs to apply for high schoolers?

Creditaddict — Tue, 27 Nov 2007 19:30:07 GMT

USBANK has a starter card secured for by parents with up to 1k limit I believe that you set.

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 19:31:42 GMT

Thanks. I'm not sure if you mean "secured card" or "secured by parents". I understand what a secured card is, but if that's not what you mean, how does the "by parents" part work?

Re: Which CCs to apply for high schoolers?

Creditaddict — Tue, 27 Nov 2007 19:35:55 GMT

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Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 19:45:20 GMT

I see what you mean. I had already gone there as per your original reply, and found this exact one "for Young Adults"... Looks like exactly what I need. Thanks. Any other companies offering similar products? Because we want to apply with several companies to see which one would approve.

Re: Which CCs to apply for high schoolers?

Creditaddict — Tue, 27 Nov 2007 19:47:12 GMT

sorry don't know of any other banks that will give card to under 18yo

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 19:47:15 GMT

Not to discourage you, but most of the cards I've seen, have a minimum age requirement of 18.

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 19:47:22 GMT

NASA FCU has a good one too

Re: Which CCs to apply for high schoolers?

Ausfarm — Tue, 27 Nov 2007 21:09:35 GMT

I doubt you'll find a company willing to give you a cc. The reason is quite simple. Until you're 18 in most states or have been emancipated from your parents, you can't enter into an enforceable contract. So, you get a card charge it up and you'd be under no legal obligation to pay them back. I'm guessing the kids that have the card are AUs on their parents cards. I guess it's also possible that the cc company accidentally approved them.

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 21:17:53 GMT

Ausfarm wrote:

I doubt you'll find a company willing to give you a cc. The reason is quite simple. Until you're 18 in most states or have been emancipated from your parents, you can't enter into an enforceable contract. So, you get a card charge it up and you'd be under no legal obligation to pay them back. I'm guessing the kids that have the card are AUs on their parents cards. I guess it's also possible that the cc company accidentally approved them.

Actually several companies offer teen cards. The ones listed above are prime examples. Ususally they are offered from age 16 and up. NASA FCU have the Fisrt card which I plan on getting for my son in a year and a half. Parents must guarantee the card and have a say on limit, whether the card will be eligiblefor CLIs. A great way to introduce kids to credit before the college campuses can get them.

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 21:31:47 GMT

Only if the parents are responsible enough to teach their children the money is coming from somewhere...from the parents' pockets. That's the only way I would recommend a credit card for someone under the age of 18.

Re: Which CCs to apply for high schoolers?

Ausfarm — Tue, 27 Nov 2007 21:39:45 GMT

Actually several companies offer teen cards. The ones listed above are prime examples. Ususally they are offered from age 16 and up. NASA FCU have the Fisrt card which I plan on getting for my son in a year and a half. Parents must guarantee the card and have a say on limit, whether the card will be eligiblefor CLIs. A great way to introduce kids to credit before the college campuses can get them.

I guess I wasn't clear. What I meant to say is that I'd be surprised to see a CC willing to offer a teen credit w/o a parent or other guarantor. That is, they cc company isn't going to issue a credit card to someone they can't legally hold liable. I didn't mean to say a teen can't get a card, just that it's unlikely they'd get one by themselves b/c, under law, minors don't have the capacity to contract.

Re: Which CCs to apply for high schoolers?

Ausfarm — Tue, 27 Nov 2007 21:42:17 GMT

http://www.businessweek.com/2000/00_22/b3683155.htm

Re: Which CCs to apply for high schoolers?

creditwatcher — Tue, 27 Nov 2007 21:51:04 GMT

At 17 and a half my first CC was WFNNB/Victoria's Secret so try something from WFNNB if you want a store card. I used it and paid most of it off frequently (been working since I was 16). For my 18th birthday I applied for a United Mileage Visa and received a 5k limit. I think the VS card helped a great deal with that!

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 21:58:43 GMT

TheCynicalOne wrote:

Only if the parents are responsible enough to teach their children the money is coming from somewhere...from the parents' pockets. That's the only way I would recommend a credit card for someone under the age of 18.

I would hope no parent would give a kid a card and then pay the bill. Makes it look like tht mgic card I used to think my mom had...lol!! No defnitely to be paid from his parttime job.

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 23:01:07 GMT

Brammy wrote:

TheCynicalOne wrote:
Only if the parents are responsible enough to teach their children the money is coming from somewhere...from the parents' pockets. That's the only way I would recommend a credit card for someone under the age of 18.

I would hope no parent would give a kid a card and then pay the bill. Makes it look like tht mgic card I used to think my mom had...lol!! No defnitely to be paid from his parttime job.

I got in an argument with one of my friends who said, "Oh I am an authorized user on my mom's account since I was sixteen and my credit is excellent." And this was after I was excited about getting a decent sized limit from WaMu. And he said, "Oh I'd probably get a higher limit my credit's impeccable." Ugh...no why would someone be competitive about getting credit line amounts? That's nothing to brag about. My friend is so pig-headed, everything's a competition with him. Not to mention he's getting all of his schooling paid for and has a private apartment-style dorm room without a roommate with his own bathroom. Costs about $15,000 a semester with meal plan included. God, I wish I could live in ignorance, have everything paid for, AND have a magic card where the bill gets paid every month. Not to mention at the beginning of the month his mother deposits cash into his checking account as his "allowance." And he's 20.

Seriously...

Re: Which CCs to apply for high schoolers?

Anonymous — Tue, 27 Nov 2007 23:09:41 GMT

TheCynicalOne wrote:

Brammy wrote:

TheCynicalOne wrote:
Only if the parents are responsible enough to teach their children the money is coming from somewhere...from the parents' pockets. That's the only way I would recommend a credit card for someone under the age of 18.

I would hope no parent would give a kid a card and then pay the bill. Makes it look like tht mgic card I used to think my mom had...lol!! No defnitely to be paid from his parttime job.

I got in an argument with one of my friends who said, "Oh I am an authorized user on my mom's account since I was sixteen and my credit is excellent." And this was after I was excited about getting a decent sized limit from WaMu. And he said, "Oh I'd probably get a higher limit my credit's impeccable." Ugh...no why would someone be competitive about getting credit line amounts? That's nothing to brag about. My friend is so pig-headed, everything's a competition with him. Not to mention he's getting all of his schooling paid for and has a private apartment-style dorm room without a roommate with his own bathroom. Costs about $15,000 a semester with meal plan included. God, I wish I could live in ignorance, have everything paid for, AND have a magic card where the bill gets paid every month. Not to mention at the beginning of the month his mother deposits cash into his checking account as his "allowance." And he's 20.

Seriously...

Cynical- I too, when I was younger and attending college saw kids live high off the hog- mommies an daddies gave them CC's w/ them as or joint and could buy whatever they wanted...however, I saw many of them self destruct and not make it through school due to being spoiled (however this was a horrible party school...)

Anyway, keep this in minds- even though my dad was and Officer in the Army and Mom had a good job there were four of us- and money was tight at times- but it makes you tough...and when I decided that I didn't want to listen to my parents and move out at 18- trust me, I did it all on my own...like I said it teaches you substance and self reliance...

It easy to build yourself up and know you can do it again if anything (God forbid) to happen to us cuz we have already been there...

however, if your friend continues on this route and something (again, God forbid) were to happen to him and he couldn't live the lifestyle he is accustomed too- trust me, he would have a much, much harder time. Some people crack in the face of adversity- I have seen it before.

Message Edited by netpanther on 11-27-2007 06:09 PM

Re: Which CCs to apply for high schoolers?

haulingthescoreup — Wed, 28 Nov 2007 00:45:16 GMT

@creditwatcher wrote:
At 17 and a half my first CC was WFNNB/Victoria's Secret so try something from WFNNB if you want a store card. I used it and paid most of it off frequently (been working since I was 16). For my 18th birthday I applied for a United Mileage Visa and received a 5k limit. I think the VS card helped a great deal with that!

Hi, creditwatcher, did you actually have a credit report when you turned 18 and got your Visa? I thought I had read that a credit record doesn't even start until you're 18, but I have heard of others like you who got a store card younger.

Re: Which CCs to apply for high schoolers?

Anonymous — Wed, 28 Nov 2007 00:46:52 GMT

Like they always say, no credit's better than bad credit...

Re: Which CCs to apply for high schoolers?

creditwatcher — Thu, 20 Dec 2007 19:19:01 GMT

haulingthescoreup wrote:

Hi, creditwatcher, did you actually have a credit report when you turned 18 and got your Visa? I thought I had read that a credit record doesn't even start until you're 18, but I have heard of others like you who got a store card younger.

Hate to revive an old thread, but you made me look I don't think Al Gore had invented the intraweb yet when I was 18! The old copy of a credit report I have is from 1998. So, I'm no help to answering the question of CR age.