Credit Card Application?
November 5th, 2009
What is the possibility of someone under the age of 18, such as a 17 years old, obtaining a credit card by just applying as a 18 year old? Also, if you happen to do that and get found out what would the consequence be, would they deny you acceptance in the future if you do this? This question has been in my mind for a while but no one seems to know the answer, any help would be appreciated.
If they find out then they will decline the application but I doubt they would block you in the future, and since there are so many credit card companies, you have lots of choices anyway. However, they most likely will find out since they will ask for your SSN to check credit bureaus and they have date of birth on those reports.
There are credit card companies out there that will issue cards to 16 year olds, this is called the youth or young adult cards. I believe US bank has one such card.
But you would need a parent to help you through the application and they would have controls as to credit limits, whether credit limit increases should be granted, etc.
So there wouldn’t really be a need to provide false information. As to what action can be taken by the issuing company when you are found out, I guess that is up to them.. how they want to proceed with it.
They could demand immediate payment and close your card instantly.
However, your date of birth is on your TRW (what is used to determine if you should be given credit).
If you need a credit card, I recommend just picking one up at the local grocery store. Much easier then getting into credit hell at a young age.
Hope this helps.
WELL IVE TALKED TO AMEX AND I ASKED THE SAME QUESTION THEY AID THAT IT MAY OR MAY NOT BE APPROVED YOU ARE MORE LIKELY tO GET ONE IF YOU HAVE GOOD CREDIT HISTORY I WAS AN AUTH.. USER TO MY PARENTS CARD FROM AMEX AT AGE 15 AND WHEN I WAS 18 I WAS APPROVED WITHOUT QUESTION CAUSE IVE BUILT CREDIT WITH THEM ALL IN ALL YOU SHOULD FOCUS IN THE CARD COMPANY YOU WANT AND TELL YOURE PARENT OR FRIENDS TO APPLY AND AUTHORIZE YOU AND IN THREE MONTHS CALL AND APPLY FOR YURSELF YOU SHOULD GET APPROVED IF YOU HAVE HISTORY WITH THEM EVEN I F YOU ARENT 18 BUT AS OF WHAT CAN HAPPEN TO YOU IF YOU GET CAUGHT I THINK THEY CANT D ANYTHING SINCE THEY SHOULD HAVE VERIFIED EVRYTHING WHEN YOU WERE APPROVED AND ILL DOUBT THEYLL CANCEL THE CARD LIKE THE OTHER PERSON SAID THEY DONT WANT TO LOSE A CUSTUMER TRUST ME