At TPG, we encourage everyone to get a credit card that best matches their biggest spending categories.
However, not everyone is eligible to get a credit card. You must meet certain requirements to be approved, one of which is your age.
But just how old do you have to be to start earning points and miles and building up your credit score with a credit card? Let's discuss.
How old do you have to be to get a credit card?
In short, 18 is the minimum age required to get a credit card. However, anyone under 21 will face some additional restrictions when applying for most credit cards.
Related: Your 18-year-old wants a credit card — which one should they get?
Law and policy
The Credit Card Accountability Responsibility and Disclosure Act of 2009, also known as the CARD Act, reshaped the way card issuers are allowed to market to younger people.
Before the CARD Act, it wasn’t uncommon to see card issuers posted up on college campuses offering free T-shirts, pizza or frisbees to get students to sign up for a card with complex terms and high interest rates they probably didn’t understand.
Now, with the CARD Act, issuers have to be at least 1,000 feet away from a college campus if they’re giving out free gifts in exchange for applications. The CARD Act also prohibits banks from issuing credit cards to anyone under 21 unless they have a co-signer or enough income to pay off the card, allowing banks to ask for verification of your income.
This means that you can get a credit card if you're over the age of 18, but you'll either need a co-signer or will need to provide proof that you have enough income to qualify for the card.
If you're a student, you cannot count financial aid as part of your income on a credit card application, but you can include money someone else regularly deposits into your account. So, if someone transfers money regularly to help you pay your bills, you can count that as part of your income on your application.
Carefully read the fine print on any application you fill out to ensure that you are claiming only the income that you are allowed and so that you know exactly what you're signing up for.
Being able to get a credit card doesn't mean you'll be able to get any credit card. That's because some banks add further restrictions beyond what the CARD Act imposes.
Chase, for example, requires you to be 19 or above if you live in Alabama or Nebraska and 21 or older if you live in Puerto Rico. It’s unclear whether the banks would even allow you to proceed with an application if you don’t meet the age requirements, but a quick search through the terms and conditions of the offer page could potentially save you a huge headache and a wasted credit pull.
Related: College students: How to use your credit card responsibly
Become an authorized user
Even if age or income keeps you from getting a credit card in your own name, you can ask a parent or friend to add you as an authorized user on their credit card.
Being added as an authorized on an existing credit account is an excellent way to boost your credit score and improve your ability to be approved when you apply for credit cards in the future.
About 15% of your credit score is based on your length of credit history, also known as the average age of accounts. Being an authorized user allows the primary account holder's credit history to boost yours as well. Banks use this as a factor in determining how creditworthy you are, and they’re more likely to extend you a line of credit if you have a long history of making payments on time.
Related: Want to build credit history for your kids? Add them as an authorized user
What card should you get?
Once you're eligible, you must do a few things before applying for a credit card. First, make sure you've read our credit card beginner guide and are ready to follow the 10 commandments of credit card rewards. Understanding how credit works and having a plan to use your card responsibly upfront will keep you from making costly mistakes.
Once you have a plan, you can start looking at credit cards and choose the one you want to start with. If the options feel overwhelming, check out our favorite cards for college students and building credit.
Related: The best first credit cards
Bottom line
You need to be at least 18 to apply for a credit card, but the CARD Act added some additional restrictions for applicants under the age of 21. When you're ready to apply for a credit card, be sure to read its specific requirements before submitting your application. If you cannot get your own credit card, you can work on building and improving your credit by being added as an authorized user on someone else's account.
No matter how or when you get a credit card, ensure you are ready to use it responsibly and set yourself up for a lifetime of earning and traveling with points and miles.
Related: What you should know before applying for a credit card in college
