I’m 17 and I’m not sure who to use but I was thinking about using chase but I wasn’t sure? It was either chase or capital one or discover.
I will take any advice related to money.
Please send any tips anything will help.
I am having a hard time deciding on what bank and which credit card to get?
byu/KlutzyRecognition493 inCreditCards
Posted by KlutzyRecognition493
2 Comments
Minors cannot sign a legally enforceable contract and thus no lender will give you a credit card before you are 18 years old. Your parents can help you open a bank account in your name and get a debit card.
For banks, any bank should do you fine as a teenager transitioning into a young adult. They will likely waive the fees for you because of your age. I recommend you look closely at how that fee structure could change once you become an adult, as they’ll likely require you to meet minimum deposit / balance amounts to continue to have that fee waived, in addition to other fees they may have.
Out of your three, i’d strongly recommend Capital One — Discover is folding into them anyway and is better than Chase (at least in my opinion), as they have less overall fees.
When it comes to credit cards, you can start with Discover It so that you can get some cash back. From there, if you get into the game of credit card rewards, you can step up to the Savor Rewards for Students.