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Added December 16, 2010 from: Beverly Blair Harzog
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Answered By Beverly Blair Harzog:
The Credit CARD Act of 2009 restricts anyone under 21 from getting a credit card unless they meet a few requirements. If you can prove that you have sufficient income (most credit cards are vague about the amount), you might be able to get a card without a co-signer. But even then, without a credit history, your options are limited.

You don't say if you're a student, but if you are and you can get a parent to co-sign, but since you're only 18 and this is probably your first credit card, I recommend starting out with a secured card. With a secured card, you place a deposit in a savings account, and then that amount, less any fees, is your credit limit. You don't need any credit history and if you choose a secured card that reports to the credit bureaus, you can use it to build a good credit score. I recommend you pay off the balance every month. Use a secured card as a tool to build a credit history so you can qualify for an unsecured card in the future. Building a good credit history can also help you qualify to rent an apartment and even get better rates on car insurance. Be sure to read all the fine print to review terms and conditions and any fees associated with the offer before you apply.

This question is about:  Best Credit Card Offers | First Credit Card
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