If you are under 18 you must certainly face some difficulty applying for a credit card for young people, and not depend on anyone to make your purchases and bank transactions, but this is not impossible. There are, yes, possibilities that suit your customer profile and you will find out what they are in this post. Check out!
What this article covers:
Is there a credit card for young people?
Yes, there is a credit card for young people and there are many options, just choose one of them and apply for it.
But, some credit card options for young people are, in fact, additional cards, which the holder must be responsible for, so you have a first step is to talk to your parents or guardians about this possibility, since if there is any problem with the card, they are the ones who will bear the consequences.
Everything can be clarified through conversation, setting limits and explaining that the sooner you can take financial responsibility and learn to manage your spending, the better.
When is it recommended for teenagers to have a credit card?
As you are under 18, your financial life must be starting now, so it is important to be aware of how to organize it.
The initial recommendation to apply for a credit card for young people is to have a source of income, after all, there is no point in having your card if you cannot pay it, even if it is additional to a holder, the responsibility for your expenses is all yours.
In order not to have any problems and avoid possible squeezes with your credit card for young people, it is important to pay attention to some care you need to take with it, such as:
Check your monthly budget to define how much you can spend on the card and consequently how much you can pay on your bill, avoid spending all your money paying the bill so you don’t become a slave to your bills.
The credit card for young people should become your friend when shopping and enjoying some outings.
Invoice due date
In addition to knowing how much you can spend on the card during the month, it is important to align the due date of your credit card bill for young people with the date on which you can pay it, avoiding delays and interest.
It is worth remembering that the minimum age for the card for young people is 16 years old, some banks make an exception, being able to anticipate availability, but it is necessary to check.
What are the benefits of a credit card for young people?
The card for young people has some advantages such as not having an annual fee, not having to prove income since the requested income will be from the holder, in addition to being accepted in thousands of establishments.
It may not seem like it, but being dependent on your credit card can be considered a major disadvantage, as you will need to be accountable to the cardholder.
But remember that this is the first step towards your financial independence and when you turn 18 you can request the cancellation of the card and become the holder of another one.
How to apply for a youth card?
You cannot apply for the youth card yourself, for this you will need the cardholder in question to apply for it directly at the bank, and generally, the youth receiving the card must be present.
Who can apply for a youth credit card and how does it work?
There is no restriction on the degree of kinship required to apply for the youth card additionally, so it basically doesn’t matter if the holder is your father, mother, legal guardian, uncles or others. But, the request needs to be accompanied by all involved.
Banks like SantanderItaú, Bradesco and Inter offer good credit card options for young people, the latter, for example, does not have a minimum age for application.
Even if in Brazil a person under 18 cannot hold a credit card alone, they can start their financial transactions and have their card as an additional card for someone else, it is recommended that they belong to very close people. The important thing is to keep it up to date and be responsible in its use.