Credit cards for young people: what are the best practices at the beginning of your financial life


It’s important to remember that while a starter card can be a good way to build credit, users should still be responsible with their spending and make sure they can pay their bill in full each month to avoid interest charges and maintain a good credit score, which is important when you ask for credit cards for 18 year olds with no credit history.

Getting a credit card at a young age is easier than a consumer loan. Usually banks issue credit cards from the age of 18, less often from the age of 21. However, at first the credit limit may be small. If you actively use the card and repay the debt on time, then a good credit history will soon be formed, which will allow the bank to increase the cash limit.

If a young borrower has an official income and work experience, then by attaching supporting documents, you can count on a large amount on a credit card.

A teenager under the age of 18 can apply for an additional card linked to the parent’s account. According to the Civil Code, a child’s card can be used to pay for small purchases, and the age of the holder must be from 6 to 14 years old.

Since how many years do they give a loan: what you need to know about the requirements
Young people do not always meet all the requirements that banks impose on borrowers. Here is a list of the main conditions — check if you are going through them.

Mindful spending involves being aware of your spending habits, and making conscious and deliberate decisions about how you use your money. Here are some tips for practicing mindful spending. Focus on values: Consider what values and priorities are most important to you, and make sure your spending aligns with those values. Avoid impulsive purchases: Take the time to think about purchases before making them, and ask yourself if you truly need or want the item. Track your spending: Keep track of your spending to become more aware of where your money is going and identify any areas where you may be overspending. Prioritize needs over wants: Focus on spending money on necessities, such as housing, food, and transportation, before splurging on luxury items. Limit use of credit: Use credit only for necessary expenses and pay off your balance in full each month to avoid accruing high-interest debt. Plan ahead: Consider future expenses, such as upcoming bills or large purchases, and plan your spending accordingly.

By being mindful and intentional with your spending, you can make the most of your money and live within your means.