Building credit as soon as possible is often hailed as a pivotal step in establishing a strong financial standing. There are different ways to go about building credit, and opening a credit card is one of the most popular.
But if you're looking to open a credit card, you'll want to understand the age requirements and any other qualifications you need to meet.
Below, CNBC Select reviews the requirements for getting a credit card and some of our favorite picks for new cards.
How old do you have to be to get a credit card
The minimum age to open a credit card as the primary account holder is 18. But due to regulations from the Credit CARD Act of 2009, applicants 18 to 20 might encounter stricter verification requirements, including showing proof that they can independently repay what they borrow. Having income — such as a salary, regular paychecks, commission checks, or income from investments — protects young consumers from taking on more debt than they can handle.
Once you turn 21, you won't be bound by these rules, though card issuers still review your income and it remains important to answer all application questions honestly.
Here's how Discover identifies what it counts as "total gross income," according to the description on the Discover it® Chrome application:
"Income means wages, salary or tips, you currently earn or can reasonably expect to earn. Other examples include bonus pay, commissions, and income from rental property, interest, dividends and retirement benefits paid.
You do not have to include alimony, child support or separate maintenance income unless you want it considered as a basis for repayment.
If you are 21 or older, you may include another person's income that is available to you. If you are under 21, you may consider the amount of another person's income that is regularly deposited into your account."
If you meet the requirements for opening a credit card as the primary account holder, check out some of CNBC Select's best credit cards for beginners, students and cash back.
Best credit card for beginners
Information about the Discover it® Secured Credit Card has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication.
Best credit card for students
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 16.74% - 25.74% applies
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. You could turn $50 cash back into $100. Or turn $100 cash back into $200
- Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases
- Redeem cash back for any amount
- No annual fee
- Terms and conditions apply
Balance Transaction Fee
0% at the Transfer APR; 5% at a promotional APR that Capital One may offer to you at any other time
Best cash-back credit card
The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure. Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards structure.
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select's editorial staff.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 18.49% - 28.74%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Balance transfer fee
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Foreign transaction fee
3%
