What Do You Need to Get a Credit Card? A Simple Guide

Key insights:

• You will need to provide personal details such as your legal name, Social Security number and proof of income when applying for a credit card 
• Lenders review your credit history and payment history to decide whether to approve your application 
• Legally, you must be at least 18 to apply, and applicants under 21 usually need to have independent income 
• If you’re building your credit score or have no credit history, options like secured credit cards or becoming an authorized user may help 

Applying for a credit card can be a major financial milestone, but the process might feel intimidating if it’s your first time. Knowing key details in advance, such as general eligibility requirements, can save you time and help you choose a card that fits your financial situation.

From factors that lenders look for to considering your financial goals, here’s what you need to know to apply for the right credit card for you.

What do I need to apply for a credit card?

The first step in getting a credit card is submitting an application. Online applications are usually the fastest option, often providing a decision in minutes.

Regardless of how you apply, you’ll need to have specific personal and financial information ready. Lenders use this data to verify your identity and review your financial history.

Here’s a checklist of information you’ll likely need to provide:

• Full legal name: This helps verify your identity 
• Date of birth: You must be at least 18 years old to apply for a credit card in your own name 
• Residential address: Lenders need a physical address where you live (not just a P.O. Box) for mailing your card and statements 
• Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN): This allows the lender to check your credit history 
• Gross or net annual income: This includes income from jobs, investments or other sources 
• Employment status: You will generally need to state whether you are employed, self-employed, unemployed or retired 
• Housing costs: Monthly rent or mortgage payments help lenders calculate how much disposable income you have

Understanding creditworthiness requirements

Once you submit your application, the lender reviews your creditworthiness. This is how they measure your likelihood of repaying borrowed money. While many people focus solely on their credit score, creditworthiness involves a broader look at their financial health.

It’s important to note that credit card requirements for creditworthiness can vary significantly by type. For example, a credit card that offers travel perks will likely have different requirements than a basic card designed for building credit.

Here are some creditworthiness factors lenders review:

Your credit report

Your credit report is a detailed record of your debt history. It acts as a financial resume, showing lenders how you’ve managed credit in the past. It typically includes information on:

• Open and closed accounts (like loans and other credit cards) 
• Your current debt balances 
• Your payment history (whether you pay on time) 
• Public records (such as bankruptcies) 
• Recent inquiries (how often you have applied for credit)

Lenders review this report to see if you have a history of managing credit responsibly. A credit report with a history of on-time payments generally signals to a lender that you’re a lower-risk borrower.

Payment history

Your payment history is often a significant factor in determining your creditworthiness. It shows lenders whether you’ve consistently made your monthly payments on time. Even 1 missed or late payment could stay on your credit report for up to 7 years, potentially impacting your ability to get approved for new credit.

Annual income

Your income is also typically a strong factor. Lenders want to ensure you earn enough money to make at least the minimum payments on your new credit card. While there is usually no specific “minimum” income requirement under the law, issuers may have their own internal guidelines. They compare your income against your debts to make sure you’re not taking on more financial responsibility than you can handle.

Other factors credit card lenders consider

Beyond your basic personal info and creditworthiness, lenders often look at a few other variables to paint a complete picture of your financial situation. These factors help them assess risk and decide not only whether to approve you, but also what credit limit and annual percentage rate (APR) to offer.

Debt-to-income ratio (DTI)

Your DTI helps lenders understand how much of your monthly income goes toward paying off debt. It’s typically expressed as a percentage, dividing your total monthly debt payments by your gross monthly income.

For example, if you pay $1,000 a month in rent and loan payments and earn $3,000 a month, your DTI is roughly 33 percent. A lower DTI suggests to lenders that there’s room in your budget to handle a new credit card payment. A high DTI, on the other hand, might signal it’s risky.

Age and income independence

While the minimum age to apply for a credit card is 18, there are specific rules for young adults:

• Ages 18 to 20: If you fall in this age group, you generally must prove you have your own independent income. You typically cannot include household income (money earned by parents or guardians). 
• Ages 21 and older: If you’re 21 or older, you can usually list household income on your application if you have reasonable access to those funds. This helps partners or spouses who may not work to qualify for credit.

Number of open accounts

Even if you have strong creditworthiness, a lender might deny your application if they believe you already have too much available credit or have too many credit cards open. This is sometimes referred to as “credit utilization” across all your accounts. Lenders may worry that if you have access to too much credit, you might run up a balance you cannot repay.

How to decide which credit card to apply for

With so many options on the market, choosing the right credit card depends on your personal financial goals and spending habits.

• Building credit: If you’re new to credit or working to improve your creditworthiness, a secured credit card or one designed for building credit may fit your needs. 
• Earning rewards: If you often spend money on travel (and pay off your balance in full every month), you might look for a travel credit card that offers points or miles for those purchases. 
• Saving on interest: If you plan to pay off existing debt, a card with a low introductory APR or a balance transfer offer might be a priority.
  
  Before you apply, checking your credit report can be a good place to start. It’ll give you an idea of your creditworthiness. You can also use pre-qualification tools found on some issuer websites. This allows you to see which credit cards you may be eligible for without a hard inquiry on your credit report.

Options for low or no credit

If this is your first time applying for a credit card, the process might be slightly different. Without an established credit history, lenders have less information to judge whether you’re likely to repay your debts. However, there are a few paths to help you get started.

Secured credit cards

Secured credit cards are designed to help people build credit. Unlike a traditional (unsecured) credit card, a secured credit card requires a security deposit. This deposit determines your credit limit. For instance, a $200 deposit gets you a $200 limit. A security deposit can make it easier for you to get approved.

If you make your payments on time, you may eventually qualify to upgrade to an unsecured card and get your deposit back.

Becoming an authorized user

Another option is to become an authorized user on a family member or trusted friend’s account. As an authorized user, you get a credit card in your name linked to their account. This can be a helpful way to build your credit if the issuer reports authorized user activity to credit bureaus.

Find your next credit card with Citi

Now that you know the requirements to get a credit card, you can apply for one with confidence. Whether you’re looking for a way to build credit history or maximize exclusive perks and benefits, you can explore Citi credit cards to find an option that fits your needs.

Credit card requirements FAQs

Do I need to have a job to get a credit card?

Having a job is not strictly required, but credit card issuers may look for a reliable source of income to ensure you can repay your balance. If you don’t have a job, your household income may also be considered if you’re over 21.

Can I get a credit card if I have no credit history?

Yes, some credit card options are designed for people with no credit history, such as secured credit cards. These can help you build your credit over time with responsible use.

Will a credit card application affect my credit?

When you apply for a credit card, the issuer may perform a hard inquiry on your credit report.

This could slightly lower your credit, but the impact is temporary. Consistently managing your credit card responsibly can help improve your creditworthiness in the long term.

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.