A credit card for 18-year-olds is a great option for young adults who have little credit history. There are several credit card products available for young adults, so there are several options to consider. This article will cover Capital One Venture X Reward Credit Card, Petal 2 & Chase Freedom Unlimited.
Capital One Venture X Credit Card
When applying for a credit card, be sure to consider the eligibility requirements. The credit card application requires applicants to have a credit rating of at least 740. But, approval is possible if your credit score ranges between 700 to 740. This type of credit card also comes with great benefits.
First, you need to get a credit report from each credit bureau. Before applying, you will need to remove any credit freezes from your credit report. This is a standard procedure for credit card companies. However, the Venture X rewards credit card has some unique features.
Capital One Venture X rewards credits card offers twice the number of Capital One mile on eligible purchases. This credit card costs $95 per year and offers a Capital One Travel portal. It also offers two free lounge visits per year, as well as the opportunity to earn 75,000 bonus miles when spending $4,000 within the first three months.
Chase Freedom Unlimited
The Chase Freedom Unlimited 18 Year Old credit card offers a moderate signup bonus but lower rewards compared to premium Chase credit cards. However, applicants must be 18 years of age and have excellent to good credit to be approved. This card requires minimum FICO credit scores of 670.
The Chase Freedom Unlimited 18 -year-old credit cards is a good choice for anyone who wants a high cashback credit card that doesn't have a high annual cost. The card earns 1.5% cashback on all purchases, and 5% on Chase dining and travel purchases. You can keep all your rewards and there is no annual fee.
Chase Freedom Unlimited 18 years old credit card is free of annual fees and offers a low introductory rate. After the promotional period, your APR will rise to a high level. While there's no annual charge, you will need to pay a foreign transaction cost of 3%. This card is excellent if you intend to travel abroad. It offers emergency assistance and trip cancellation protection.
Petal 2
Petal 2 credit cards are a great option for anyone 18 years old looking for a card. This type of card offers a high credit limit for those with bad credit. However, the APR for this card is much higher than that of credit-building cards. Not making payments on time can have a negative impact on your pre-approval decision.
Petal Rewards or Petal Offers can be used to earn cash back on the Petal 2 Credit Card. Petal Offers provides cash back on some purchases. Customers who pay on time will also be eligible for this bonus program. Your spending habits will affect how much cash you receive at some merchants. Cash back is automatically deposited into your Cash Back Wallet and can be redeemed for statement credits, cash in a check, or direct deposit into your bank account.
Petal 2 Visa card "Cashback, No Fees" is an option for anyone with bad credit. This card is eligible for cash back and has a credit limit up to 10,000. Petal 2 offers many benefits including an app that tracks your spending habits and improves credit scores. This mobile app allows you to see your credit score, account balances, as well as payment due dates and rewards. You can also use the tracking feature to learn more about your spending habits, improve your credit history, and track your payments.