For young adults with little or no credit history, an 18 year old credit card is a great way to start building their credit. Young adults have many options when it comes to credit cards. This article will cover Capital One Venture X Reward Credit Card, Petal 2 & Chase Freedom Unlimited.
Capital One Venture X Rewards Credit Card
Consider the eligibility requirements when applying for credit cards. For this type of credit card, applicants must have a credit score greater than 740. However, it is possible to get approved if you have a score between 700 and 740. Besides, this type of credit card comes with some great benefits.
The first step is to obtain a credit report from all three credit bureaus. A credit freeze placed on your credit report will be removed before applying. This is a standard procedure for credit card companies. Venture X rewards card has some distinct features.
Capital One Venture X rewards credit cards offer two-times the Capital One miles for eligible purchases. This credit card has a $95 annual fee and features a Capital One Travel portal. It offers two complimentary lounge visits each year as well as 75,000 bonus points for spending $4,000 within three months.
Chase Freedom Unlimited
The Chase Freedom Unlimited 18 Year Old credit card offers a moderate signup bonus but lower rewards compared to premium Chase credit cards. However, applicants must be 18 years of age and have excellent to good credit to be approved. Minimum FICO credit score of 670 is required for this card.
For those looking for a high-cash back credit card with no annual fees, the Chase Freedom Unlimited 18-year old credit card is a great choice. The card earns 1.5% cashback for all purchases and 5% on Chase travel and dining purchases. Additional benefits include no annual fees and the ability to keep all your rewards.
The Chase Freedom Unlimited 18-year-old credit card has no annual fee and a low introductory rate. After the promotional period, your APR will rise to a high level. You will have to pay a foreign transaction charge of 3%. There is no annual fee. This card is excellent if you intend to travel abroad. You can also get trip cancellation insurance or emergency assistance.
Petal 2
Petal 2 credit is an option for those 18 years of age who are looking for a new credit card. This type of card offers a high credit limit for those with bad credit. However, the APR for this card is much higher than that of credit-building cards. Missed payments could negatively impact your preapproval decision.
The Petal 2 credit card offers two types of cash back: Petal Offers and Petal Rewards. Petal Offers is a program that gives customers cash back for certain purchases. There are certain merchants that offer cash back, and you could earn anywhere from 2% to 10% depending on how much you spend. Cash back is automatically deposited into the Cash Back Wallet. You can redeem it for statement credits or cash in a cheque, or directly deposit into your bank account.
The Petal 2 Visa "Cash back, No Fees", Visa credit card may be an option for those with poor credit. This card is eligible for cash back and has a credit limit up to 10,000. Petal 2 offers many benefits including an app that tracks your spending habits and improves credit scores. You can access the app on your mobile phone to view your credit score and account balances. It also includes payment due dates as well rewards and payments. You can also track your spending habits to improve your credit score.