Friday, July 19, 2024


With the average U.S household having 2.7 credit cards and over 191 million people having credit cards, it is vital that consumers understand how that debt works. The best way to accomplish this is by teaching good credit card usage skills and money management tips at an early age. In most cases, a teenager under the age of 18 will need to hold a credit card as an authorized user on an existing cardholder’s account, such as a parent or sibling. As an authorized user on the credit card, the minor’s usage will be reported to the credit bureaus allowing them to build credit. Keep reading to learn more about the 5 best credit cards for minors under 18.

Discover It Cash Back Card

One of the most useful features of the Discover card is their cash back Match. This introductory offer provides the consumer with a match to the cash back that they earn in their first year. This really adds up quickly when using the 5% cash back on purchases at different retailers each quarter and with their 1% cash back on all purchases. 

The initial interest rate could be as low as 0% for the first 15 months followed by 14.99% to 25.99% after that. There is no annual fee with the card.

Capital One Quicksilver Cash Rewards Credit Card

When it comes to earning cash back, the Capital One Quicksilver Cash Rewards Credit Card is one of the easiest to use. Their 1.5% cash back on all purchases and the 5% cash back on rental cars and hotels, when booked through Capital One Travel, means that your teenager will not have to worry about coordinating categories to take advantage of the cash back earnings. They can simply spend and accumulate cash back rewards. 

The initial interest rate for this card is 0% APR applied to all purchases as well as balance transfers. After 15 months the interest rate will have an increase of 17.99% to 27.99% variable and a balance transfer fee of 3%

Blue Cash Everyday Card From American Express

The Blue Cash Everyday Card from American Express allows for authorized users as young as 13 years old. This card comes up to 3% cash back on most everyday items such as groceries and gas with a cap of $6,000 per year in each category. 

An additional benefit of the card is that even if it is used infrequently, there is no harm done with no annual fee. Additionally, in the first 15 months after opening the account comes with 0% APR after which a rate of 16.99% to 27.99% will apply.

Chase Freedom Flex

With the high 5% cash back on a rotating category list each quarter, your young consumer will be able to rack up the rewards quickly with the Chase Freedom Flex card. The key to success in getting the most out of the cash back rewards is keeping track of the rotating categories. 

The card offers a sign-up bonus of $200 along with an introductory 0% APR for the first 15 months to provide the basis for a solid credit building start. The card will increase to 17.24% to 25.99% variable after the initial offer. 

Chase Freedom Unlimited

Like the Chase Freedom Flex card, the Chase Freedom Unlimited card offers a high 6.5% cash back opportunity. This applies to Chase Travel Portal purchases and decreases to 4.5% on takeout, eat and delivery dining as well as drugstore purchases. Consumers can expect 1.5% cash back on all other purchases. 

This card also has a sign on bonus of 1.5% cash back on all purchases up to $20,000 spent over the first year after opening the account. For travelers, this card also offers a 25% or 50% higher redemption value when paired with a Sapphire card and purchased at the Chase Ultimate Rewards program. 

The initial interest rate for this card is 0% for the first 15 months increasing to 17.24% to 25.99% APR after that point. 

Building Solid Credit And Financial Habits

Selecting the right card for your teenager can change the way that they handle credit in the future. They will have a better understanding of the process of using a credit card as well as the consequences and rewards of taking care of their credit. Forming good credit and financial habits at an early age will mean it will be less challenging to them as adults. This will also provide you with the opportunity to guide them in their financial decision-making process. 

Sam Allcock
Sam Allcock
Sam heads up Cheshire-based PR Fire, an online platform that has already helped over 10,000 businesses to grab widespread media coverage on their news at an extremely accessible price point.

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