Before you start looking at your options for credit cards, you should be aware that the Credit CARD Act, effective February 2010, added new rules for consumers under the age of 21 interested in having their own credit card. If you are under 21 years old, you will need to show that you are able to make payments – in other words show proof of income – in order to open a credit card account.

The other alternative is to have a cosigner on your credit card account. This person must be 21 years of age or older and be able to prove their ability to repay the debt incurred on your credit card account. They will assume joint liability for your credit card debt, so it will have to be someone who trusts you to make your payments on time and use your credit card responsibly. If you have opened a credit card account with a cosigner and want to increase your credit limit, your cosigner must agree to the increase in writing.

Once you have either identified a cosigner or are able to show proof of income, you should focus your search on student credit cards or on credit cards for people with limited credit history. These credit cards are specifically designed for people that are new to credit and are looking for a way to start building a strong credit score. It is of course important to make your payments on time and try to keep your balance-to-limit ratio relatively low in order to have a positive impact on your credit score and report.

Some credit card companies may also have restrictions on the way in which consumers under the age of 21 can apply for a credit card. Depending on the company’s policy, this group of consumers may not be able to apply for a credit card over the phone and instead may have to apply through the mail or an online application.