Credit card companies lay different requirements in the approval of a credit card application. Aside from the credit history, the also consider the age. With the old law, individuals who have reached twenty-one are given the right to credit card ownership but with the new law being applied now, unless you can show proof of income or be able to convince a parent as a co-signer so in case payments are not made, there is someone who will take responsible for it.

One of the financial worries of most Americans is their monthly burden of credit card bills. There had been a lot of households who have lost some of their properties due to unpaid debts. It is important then for the young people to be trained on how money should be managed. They should understand that it will be of their benefit if they are able to finish college with a good credit rating. Being able to do so will give then good chances of employment. As early as now then, make sure to maintain a good credit rating.

Young people are very impulsive when it comes to buying especially when they get their very first credit card. As they say, prevention is better than cure so before you find yourself getting burdened with sky-high interest rates and charges better get a card perfectly fit for your resources or not have a card at all.

Since owning a credit card now is very crucial, going for the second option may not be the way you would like to take. If you really are serious in getting a credit card, you may want to start first with a prepaid credit card. No monthly bills to worry about and no interest rates to eat up most of your cash.

With a prepaid credit card, you can shop and max out your card with nothing to worry on your bills. Of course you should also understand that when the fund is maxed out and no deposits made, there would be shopping for you. They also have functions as the regular credit cards but if you have limited deposit into your prepaid card then you can only make small purchases.

Another card that you can go for is a secured credit card. Again, it can also function as a regular credit card but with higher rates and slight modifications when it comes to their policies and rules. The reason for the high rates is that this card is especially meant for credit-risk individuals who are serious of improving their credit rating.

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