<p>I'm curious if anyone between high school and college has applied for, or has been accepted for a credit card? </p>
<p>I'm currently looking into credit cards and I need one to pay my enrollment fees for college by May 1st.</p>
<p>Credit card reform laws that passed now require that you be 21 to get a credit card on your own. To get a card before then it would have to be a sub of your parent’s existing card. Credit limit $500 - $1000 max.</p>
<p>DS is 18 and when he opened a College checking account with Chase, the personal banker said he can also apply for a credit card and he did. Still waiting for the result. We don’t expect an approval, as he has no credit history. We’ll see.</p>
<p>That’s interesting … we’ve been getting – you’re preapproved credit card offers for my daughter for months … she is 18; Fortunately - she has no interest in getting one and we’re not interested in getting one for her. I think we’ll sign up at whatever school she ends up at and get her a debit card that will be funded by her in her work study job.</p>
<p><21 will not get approved without a co-signer that is responsible for the debt. The other option is for the student to apply for a sub card on the parents existing card.</p>
<p>They can send all the offers they want but there is mo approval unless one of these conditions is met. </p>
<p>And back to the OP - I can’t think of a worse way to pay for college than a credit card!</p>
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<p>Really? When did that happen? I got a credit card at 16 with a cosigner, one two years ago without a cosigner, and one a few months ago (Mid-January at age 20) without a cosigner. My ex fiance also got another credit card last year (age 20) without a cosigner.</p>
<p>Start of 2010, don’t remember the exact date.</p>
<p>Feb 22, 2010 - The Credit Card Reform Act</p>
<p>[Credit</a> Card Reform Act of 2009: Does it Help Consumers?](<a href=“http://knowledgebase.findlaw.com/kb/2010/Jan/59137.html]Credit”>http://knowledgebase.findlaw.com/kb/2010/Jan/59137.html)</p>
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<p>So… it is still possible to get a credit card under 21? As I said, I got those independently and they raised my limit more than once. Doesn’t seem like anything changed…</p>
<p>I was just approved for a credit card with the local credit union, on the basis of only part-time campus job earnings. By “just” I mean in the past few weeks, and I’m still 18.</p>
<p>Some banks will make an exception if you can demonstrate income or have had a card previously under the old ruled. But the days of an 18 year old with no income being given a card are over.</p>
<p>As noted by the above poster, any bank can legally issue a credit card to an 18 year old; however, the bank must be able to justify that the credit limit can be supported by student income - and the bank/credit union’s regulator (FRB, OCC, FDIC or NCUA) will be looking for exceptions. (Therefore, student credit limits are going to be small - no more than $500-$2000) Some bank’s don’t want to bother and just say you have to be 21 or have a cosigner - that however is a business decision and not the law.</p>
<p>So, from what I understand, I’ll have more luck looking into a credit union. A credit card isn’t my first choice, but I don’t many other options at this point in time.</p>
<p>If your college has a credit union I would bet it would be the most flexible (or bank located in a college town) - but, unless you have a really good job or have trust fund income, the limit will be small. It’s too bad but a few bad actors messed up what should be part of every student’s education - learning how to handle money/credit.</p>
<p>As a mom, I WOULD recommend getting my college student a credit card, believe it or not! Our daughter is a soph. in college, and last summer she and I did go ahead and have her apply for one. She got it, no problem, and with no prior credit history or co-signor of any kind. I had googled “best credit cards for college students”, and there were several top recommendations on several sites. We chose the Citi card for college students. 0% liability in case of loss or theft, and a rel. small maximum balance. They even had a special where you got a $50 credit on your first purchase over $250 or so, so she used it to buy her books and got a $50 credit on her first statement! We have her make at least one small purchase each month and then pay it off in full. We really only opened this card for her to primarily develop credit history for after she graduates and wants to get an apt. or a car, etc. and to use in case of emergency. She did not have any problem getting it under the age of 21. We are getting ready to repeat the process for our son getting ready to grad. HS and off to college in Aug.!</p>
<p>Having a credit card with a relatively small maximum-balance is an excellent way for a young person to build up credit history. All the years while they’re in school and until they graduate, they are building credit history that will be VERY important for after they graduate. One of the other young ladies (26 yrs. old) I work with gave me this idea. She is very financially responsible and said her father had helped her get one around age 17 or so. She is now graduated and working in a good job, engaged to be married this summer, and qualified for a mortgage by herself only when she and her fiance’ were looking for a house (he’s still in school). Might as well take advantage of these years to build credit history!</p>
<p>Wait wait wait. I have to be 21 to get a credit card on my own? I want to be able to build my credit, but if I have to have my mom cosign, I’m afraid it’s going to affect me negatively–my mom’s credit score is terrible.</p>
<p>Read the law in the link I posted.</p>
<p>If you don’t have verifiable income, you will likely need your parent. My 19 yo had no trouble getting a $1K Citicard a few months ago based on her part time income (she has no banking relationship with them at all). She has still been inundated with offers from Discover and other card issuers despite the new law.</p>
<p>How much income is needed to get one of these credit cards from citi?</p>
<p>@GermShepLvr what was the max on the card?</p>