Because minors can’t have credit cards held directly in their names, if they need to have access to a credit card, that will require being added to a parent or guardian’s credit card as an authorized user.
You can select from one of several credit card issuer options with companies like Capital One, American Express, Discover, Chase Bank, Bank of America, Wells Fargo and many others.
What Credit Cards Can You Have as an Authorized User?
Having a credit card for kids may assist them by developing healthy money habits from an early age, allowing these financial literacy skills to compound from the start.
Likewise, you can also add your kid as an authorized user to your own card or through a new one you set up together under your name through a credit card issuer.
Secured credit cards work by having the cardholder front a security deposit to open an account, reducing the risk to card issuers of you defaulting or missing a payment.