One simple way to obtain a credit card despite a lack of credit is to become an authorized user on someone else’s credit card. Becoming an authorized user involves finding a trusted and trusting friend or family member to add you to their credit card account as an authorized user. This usually gives you access to many of the same benefits as the primary cardholder, including your own card with your own name on it. Many banks report authorized user activity to the three major credit bureaus

Another option is to find a co-signer to sign on your own credit card application. This person is a guarantee to the bank that if you aren’t able to make your credit card payments, they will. If you’re looking for a co-signer, make sure you choose someone with a good credit score and steady income who can help increase your chances of being approved for a credit card

 Why Is It Important To Establish Credit?
Good credit is a sign to vendors, banks and companies you are a trustworthy, low-risk leasee or borrower capable of paying off your bills or loans on time. Great credit makes up a major part of your financial identity and comes with many advantages. These advantages include benefiting from lower interest or insurance rates, receiving approval for large purchases or loans and earning more rewards on shopping and travel

## How To Build Credit When You Have None
Building excellent credit can take a long time, especially if you start from scratch. Luckily there are several ways to get started on building your credit history. Becoming an authorized user is a popular route—especially for teenagers trying to build financial history early. You can also apply for a secured credit card or for a credit-builder loan. Both of these latter approaches are specifically intended as low-risk, easy ways for an individual to establish or rebuild credit history

 Become an Authorized User
You can build credit by becoming an authorized user on someone else’s card. Once authorized, you will receive your own credit card attached to the primary account. From there, the process of building your credit history is straightforward: Simply use the credit card and make your payments on time. If you do this consistently and avoid other credit pitfalls, such as overusing your credit, you can quickly build a decent credit score for yourself

## How Old Do You Have to Be to Get a Credit Card?

To become the primary account holder on a credit card, federal law requires you must be at least 18 years of age. If between the ages of 18 and 20, a co-signer will be required if proof of independent income isn’t provided with the application. Younger teenagers can become authorized users on parents’ or guardians’ cards in many cases and can present a way to help teens get a jumpstart on building credit and help teach your kids responsible financial habits

## What Is APR?
Annual Percentage Rate (APR) is the interest rate applied to the carried balance of a credit card. Your exact APR will depend on the bank, the type of credit card and your credit score at the time of application. It will also depend on something called the U.S. prime rate, which is a standard rate used by banks to establish a baseline APR. Though you will often see APR referred to as an annual rate, any interest being charged is actually calculated every month based on your current balance

 What Is a Good APR for a Credit Card?
APRs vary greatly from bank to bank and even from card to card. Many banks offer APRs ranging from 12% to 24% and some issuers will offer a 0% introductory APR to help new credit card holders start building credit. If you look for the lowest rates possible and stay on top of your credit card payments, you can usually avoid interest entirely. For more information on the ins-and-outs of how to evaluate credit card APR, check out our guide

 Why Can’t I Get a Credit Card?
Several factors may make it more difficult for you to obtain a credit card. If you do not have a steady job or provable source of income you are unlikely to receive approval for a credit card. Similarly if you have too much debt, a bad credit score and history, are under 18 or do not have a Social Security number getting a credit card in your name can be very difficult. While there are ways to work around these issues, including some—like becoming an authorized user or getting a secured card—it can take some persistence and patience while working through the process.