The minimum age to open your own credit card account with a co-signer is generally 18, but it is often subject to certain conditions.
Key Points
- At 18 years old , you are technically eligible to apply for a credit card in your name, provided you meet other criteria such as income verification or having a co-signer.
- For applicants under 21 , federal law (the CARD Act of 2009) requires that either proof of independent income or a co-signer must be provided to qualify for a credit card in their own name.
- The minimum age for a co-signer is typically 21 years old or older , as co-signers are expected to demonstrate the ability to make payments.
Additional Considerations
- Most major credit card issuers no longer allow co-signers, which limits options for those under 21 unless they have proof of income.
- Some banks, credit unions, or smaller lenders might still permit co-signers for applicants under 21, often requiring the co-signer to be at least 21.
- For authorized users (not primary account holders), the minimum age varies but can be as low as 13 or 15, depending on the issuer.
In summary, while you can generally apply for a credit card at age 18, gaining approval with a co-signer typically requires the co-signer to be at least 21, fitting the legal and industry standards.