When can you get a Credit Card?

If you’re considering getting your first credit card, you might wonder when you can apply. While you’re allowed to get a credit card at eighteen, the type of credit card you qualify for depends on your income and a few other factors. But you don’t need income to become an authorized user on someone else’s credit card account, and teens under eighteen may even qualify to become authorized users. Read on to learn more about your options.

Credit card income requirements

Proof of income shows a credit issuer you can pay back your debt. Some credit cards require more income than others, so it’s essential to understand the conditions before you apply. 

If you’re a borrower between eighteen and twenty, you must provide proof of independent income as required by the Credit CARD Act of 2009—but you don’t necessarily need a job. For example, income can include regular allowances or leftover funds from a scholarship, or student loan. If you’re twenty-one or older, you’re also subject to income requirements based on the card and issuer. However, you can include your income and any regular income you have access to, such as income from a spouse. 

Credit cards for first-time borrowers

Even if you’re eighteen, some credit cards require a credit history and higher income levels to apply, something not all first-time borrowers have. However, there are specific credit cards for young adults with limited income who have yet to establish credit.

Secured cards: A secured credit card requires a deposit equal to the credit limit approved by the credit card company, which protects the lender if you fail to pay your debt. And a secured card often comes with a lower spending limit and a higher interest rate than a regular credit card. Still, some secured rewards credit cards offer cash back on everyday purchases. And as long as the card issuer reports your payment activity to a credit bureau, a secured card can help you build credit with responsible use.¹ 

With some creditors, once you’ve shown you can manage your debt, you can get your deposit back and graduate to an unsecured credit card. With the Discover it® Secured Credit Card, you can get your deposit back when you upgrade to an unsecured card after six consecutive on-time payments and maintaining good status on all your credit accounts, and if you qualify, Discover will increase your credit line.²

Student cards: Getting a student credit card may require submitting proof that you’re a student but doesn’t require a security deposit. While the credit limit is typically lower for student credit cards, you can build credit with responsible use¹ and may earn cash back rewards with eligible purchases. For example, a Discover it® Student Cash Back Card lets you earn 5% cash back on everyday purchases at different places you shop each quarter, up to the quarterly maximum when you activate.

Getting a credit card as an authorized user

While you will have a card in your name, you’re not responsible for payments, and you can build credit with responsible use¹ (helping you qualify for your own line of credit once you’re eligible). However, if either you, or the primary cardmember overspend, or if the primary cardmember misses payments, it can negatively your credit.

Applying for your first credit card

Once you’ve decided on a card that fits your needs, you can apply online. Applying for a credit card is relatively straightforward. You’ll need to provide basic personal and financial information on your credit card application, such as your Social Security Number and income, plus any additional information applicable to the credit card, like proof of enrollment if you’re applying for a student credit card.

How long does it take to get a credit card?

After you’ve submitted your application, the credit card issuer checks your credit. This process can take a few seconds to a minute or more, depending on the issuer and your credentials. There are three possible outcomes after you submit: you can receive instant approval, denial, or a message that your application needs further review. Any further review will add time to the approval decision.

Ultimately, it can take up to thirty days to get approval or denial from a credit card company. If approved, you’ll typically receive your new credit card in the mail within two weeks. There may also be a simple activation process that requires you to call the issuer.

Once you’re eighteen, deciding when to apply for a credit card is up to you. Understanding your options based on income and credit history can help you choose the best credit card for your situation. Whether you start with a secured or student credit card or become an authorized user (even before eighteen), spending responsibly and making on-time payments are vital to building good credit and realizing your financial potential.