Recently Turned 18, looking for my best options for a credit card!

[Anonymous]

---

@NEWKID11084 wrote:

Hey everyone!

I recently turned 18, and have been an AU on family members cards for almost about a year, and have Fico 8 scores@ EQ-683 EX-733 TU-702. I am a college student and I have family support to pay the monthly payment, I am curious what cards or card would be best, as I am trying to reach the 800s by the end of the year! Thanks so much in advance for your input and recommendations!

---

You say that you have family support to pay the monthly payment.. Yes, credit card companies always want their money back regardless of who pays it, but when it comes to extending credit then they don't lend based on someone's support/income, rather it would be based on your ability to pay back..

Do you have any kind of income? If you have no income whatsoever, it would be extremely difficult to get a credit card in your own name unless you want to get a card with $200 or $300 CL. My college-going 18 yrs old gf works part-time at her college campus..She applied for a Chase Freedom two months ago and got approved for $5700 SL at branch. She has an account with Chase for a while, I guess. If I were you, I would apply for a credit card only when I start working for a while. And not to disappoint you, but achieving 800 score is kinda impossible for any 18 yrs old because length of accounts is also one of the factors that contributes towards scoring which is impossible for a 18 yrs old.

And I know that some people have suggested a card from Capital One, but I wouldn't get that card even though I myself started out with that card. But I was naive and not knowing anything about credit. This card has no growth whatever except for very few people. Besides, I would never want to get a card for $300-$500 CL anyway. Rather than getting a card with this much credit limit, I would rather be better off with getting a secured card with other lender with a very healthy CL. I would never even thought of Capital One. Find a job (if you can, or wait until you start working), save some money and get a good secured card...Keep them for a year or two and then you would establish a good credit in no time. Good luck....

[HHH71]

When my son started college I put him as an AU on my discover card. His sophomore year we checked his credit and it was 742. His first card was Cap One, he got approved with a $1500 cl. About 7 months later we applied him for a Chase Feedom Unlimited, he was approved for $2400 cl. his credit is now 756. My plan is to have him apply every six months for a credit card until he graduates. This will have him with 6 credit cards and give him the ability to do whatever he wants once he enters the workforce. Buy house, car, rental property, etc.

We listed my sons income as $22,000. This is the small amount he makes from me doing odd jobs and his scholorship. I told him is job now is to maintain his academic scholorship which pays way more than apart time job. He currently has a 3.87 gpa and no college debt.

I've also been teaching him use his credit cards like a bank card. Only spend it if you have it. So, his utilization is often around 1%-4%, but usually zero. Taught him to pay off before statement created to keep utilization down. 

I wish my parents had done this for me. What a headstart he is going to have; one I never did. 

[mrpuffrabbit]

---

@Anonymous wrote:

---

@folks19 wrote:

---

@NEWKID11084 wrote:

Hey everyone!

I recently turned 18, and have been an AU on family members cards for almost about a year, and have Fico 8 scores@ EQ-683 EX-733 TU-702. I am a college student and I have family support to pay the monthly payment, I am curious what cards or card would be best, as I am trying to reach the 800s by the end of the year! Thanks so much in advance for your input and recommendations!

---

Check out the Bank Of America student card. It gives 3% on a category of your choice, and 1% on everything else. It is a card any student with minimal income can qualify for as long as you don't have any negatives on your report.

---

discover student card. don't be under the impression that a student card can't grow

---

I can attest to that, happy with the Discover IT student card. I had it during my university days. I had a 1.2k starting limit and that grew to 11k from exclusive use in 6 years; they're nice about CLIs, and some were even automatic. Now I don't use it exclusively and just take advantage of the 5% categories.