Can I get a credit card for my child?
In Great Britain, you can get a credit card from the age of 18. That is, children cannot apply for and issue a credit card on their own. However, there are alternative ways a child can get a credit card and learn financial literacy.
So, we tell you how a child can get a credit card:
- Additional credit card holder. If you want your child to have a credit card, make them an additional owner on your credit card account. Some banks limit the age of an additional cardholder to 16, but you can find offers with a lower age. The peculiarity of such a children's credit card is that the child will have his card linked to your account, but you, as the account owner, will control and be responsible for the use of funds.
- Prepaid cards can be issued in the name of the child. You can top up such a card for a certain amount and the child will use it as a debit or credit card. This type of card usually does not affect your credit score and does not create debt.
On this page, Bankchart analysts have collected all offers from banks with credit cards for kids. Therefore, you can familiarize yourself with the terms and conditions, as well as go to the bank's official website, where you can learn more about the program and apply online. We recommend comparing interest rates, commissions, the availability of a grace period and then choosing the best children's credit card.
As an alternative, you can also take out a personal loan. Your possible expenses:
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 5,000 | 9.50% | 257 |
| 5,000 | 10.50% | 284 |
| 5,000 | 11.50% | 311 |
| 10,000 | 11.60% | 628 |
| 10,000 | 12.60% | 683 |
| 10,000 | 13.60% | 737 |
| 20,000 | 13.70% | 1,484 |
| 20,000 | 14.70% | 1,593 |
| 20,000 | 15.70% | 1,701 |
| 25,000 | 16.10% | 2,180 |
| 25,000 | 16.80% | 2,275 |
| 25,000 | 17.50% | 2,370 |
See the similar FAQ about UK banks:
- What is an HSBC APR rate for a credit card?
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- Where do I find my HSBC application status?
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