How old do you have to be to get a credit card?

What to do before applying for your first credit card 

1. Decide if you really need a credit card 

Think about your income, how you spend, and why you want the card. Consider if you can manage without it and check out other options like debit cards. Credit cards offer financial flexibility, can help to build your credit score and are useful in emergencies.  

But they aren’t the right option for every circumstance. Unpaid balances accrue interest, often at high rates. This is especially likely if you have little credit history due to never having borrowed before. 

It's best to weigh up the pros and cons of getting a credit card before you apply. If you’re sure a credit card is right for you, use eligibility checkers first. These checks won’t harm your credit score and will give you an idea of your chances before you apply. 

2. Make sure you can afford the monthly payments 

If you can, it’s great to get into the routine of paying your credit card balance in full. This will mean you pay no interest at all. At the very least, you will need to pay the minimum payment to avoid missed payment charges. 

Set up a Direct Debit or set yourself reminders to ensure the money does get paid. Failing to meet your payments can damage your credit score, and interest will continue to accrue meaning that the total debt will increase. If you miss payments regularly, it can lead to a default or even a CCJ. These are both extremely damaging for your future lending prospects and can hinder your credit applications for up to six years.  

3. Earn a regular income 

Lenders are more likely to offer you a credit card if they see you can pay it back. A regular, fixed income paid directly into a bank account will demonstrate this to them. However, the amount of money you earn will influence the credit limit that is offered to you. 

You should also factor in your income into how much you spend on a credit card each month. Make sure that you earn enough to pay it back as quickly as possible, and at least meet your minimum payments. 

4. Build your credit history 

One of the easiest ways to start building your credit score and make it more likely to be accepted for a credit card, is to register to vote. Doing so confirms your identity to lenders, which helps build your credit profile. You could also take out a pay-monthly phone contract, which will allow you to start making regular payments and building up a credit history. 

Can I get a credit card if I’m under 18? 

No, you can’t get a credit card if you’re under 18. The alternative options for you will depend on what your financial needs are. Here are some possible options: 

1. Debit cards can be a good cash-free way of managing your money. Be mindful that debit cards don’t build your credit score. 

2. Prepaid cards are an alternative, allowing you to load money onto the card and spend only what is available. These do not build credit but can teach responsible spending.