Visa for Teens

Start Your Teen’s Credit Journey

Introducing your teen to credit before they leave home is a great way to help them prevent financial pitfalls in adulthood. Here are some things you can do to help your teen understand the importance and power of a credit card.

Credit Score

Giving your teen a credit card now will help them build their credit score in the future. This score can play a role in determining whether they'll be able to secure loans, jobs, apartments, and more. Explain credit scores to your teen and the factors that help them go up and down. This is an opportunity for them to practice good habits that can benefit them once they have a credit profile and learn from their mistakes. Under normal circumstances, credit will not begin reporting under your teen’s name until they turn 18.

Credit Utilization

Unlike a debit card, using a credit card can mean spending money that you may not necessarily have. Teach your teen about staying under 30% of their credit limit (this will help keep their score high) and not buying anything they don't plan on repaying.

Credit Purpose

What is the card for? Is it for emergencies only or school expenses? If you’re looking for the best credit cards for your teens, set these expectations before applying. Whatever the case, sit down with your teen and figure out how they’ll use the card, especially if they're an authorized user on your account.

Teen credit score

 

 

Cyprus Low-Rate Visa

What are the best credit cards for teens? A low-rate Visa from Cyprus Credit Union is a great teen credit card option if you’re looking for a card ideal for everyday expenses. To qualify for a Cyprus Low-Rate Visa card, a teen must:

  • Be a member of Cyprus Credit Union
  • Apply with a qualified cosigner

Click below to apply. You can also call our lending team at 801-260-7700 or visit any of our branch locations.

Apply Now

card

One Card, Many Perks for Your Teen

With a low-rate Visa from Cyprus Credit Union, your teen can enjoy some great benefits as they build their credit:

  • 0% introductory APR for the first six months
  • No Fees. No annual fees, no transaction fees, no balance transfer fees, and no minimum finance charges.
  • Protected by eGuard 3-D Secure technology
  • Free Verified by Visa fraud protection
  • 24-hour online account access on Home Banking and the Mobile Banking app
  • No penalty APR
  • 25-day grace period on purchases
  • Billing dispute resolution
  • Lost or stolen card reporting
  • Choice of Card Designs

 

Visa Terms

 

FAQs

Why should my teen get a credit card?

Getting your teen a credit card is a great way to instill healthy financial habits so they make sound financial decisions in the future. Plus, getting one as early as possible can help establish a credit profile since the length of credit history is an important factor in calculating credit scores. 

What are the pros and cons of a teen credit card? 

Your teen can use a credit card to build credit and get real-world experience managing finances. On the other hand, there’s a risk of your teen overspending and racking up debt. When you get your teen a credit card, make sure you’re teaching them financial responsibility.

How will a good credit score help my teen?

A good credit score opens up many new financial opportunities for your teen. Once your teen reaches adulthood, they can more easily qualify for loans, other credit cards, and more.

What other options do I have for my teen?

In addition to getting your teen a credit card, you can also add them to your card as an authorized user. This allows your teen to build their credit profile, even if you primarily use the card. You can also make sure your teen is building their financial literacy with our Learn and Earn accounts, and get rewards for learning smart spending skills. 

Rewards Visa

APR as low as 13.74%

Visa Platinum Rewards

  • Earn one point for every dollar you spend
  • Redeem for gift cards, travel, merchandise & more

Cash Back Visa

APR as low as 16.74%

Visa Platinum Cash Back

  • 1.5% cash back on all purchases 
  • Paid quarterly and automatically deposited to your savings account 

Low-Rate Visa

APR as low as 11.24%

Visa Platinum

  • Lowest interest rate
  • Great for debt consolidation

 

Home Banking

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The products and services on this page are offered through LPL Financial or its affiliates by Registered Representatives of LPL Financial. These products and services are not credit union deposits, not credit union guaranteed, not insured by NCUA or any other government agency, and may lose value. Cyprus Credit Union is a separate entity and is not affiliated with LPL Financial.
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