Build Your Teen’s Financial Confidence
Introducing your teen to credit building early is a great way to help them enter adulthood without any financial pitfalls. A low-rate Visa credit card from Cyprus Credit Union is a great way to give your teen spending power to make everyday expenses and help them practice good spending habits.
Best For Financial Goal
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One Card, Many Perks for Your Teen
With a low-rate Visa, your teen can enjoy some great benefits as they build their credit:
No Fees
A low-rate Visa credit card offers no annual fees, no transaction fees, no balance transfer fees, and no minimum finance charges.
0% Intro APR
Save on big purchases and interest charges with 0% introductory APR for the first six months with a new card.
Spend with Peace of Mind
Keep your teen’s spending habits safe with eGuard 3-D Secure technology and free Visa Secure fraud protection.
Spend Hassle-Free
Teens have more spending freedom with no penalty APR, a 25-day grace period on purchases, and billing dispute resolution.
Credit Card Rates
Applications are subject to credit approval. Your rate and credit limit will be determined by individual credit worthiness including income, debt ratio, employment, and credit history. Verification of income may be required. View the Visa Credit Card Application Disclosures HERE.
Provide practical decision info
| Vehicle Year | Loan Term | APR as low as |
|---|---|---|
| 2017-2027 | Up to 60 months | 5.24% |
| 2017-2027 | 61 to 72 months | 5.49% |
| 2017-2027 | 73 to 84 months | 6.24% |
*Advertised APR includes a 0.50% loan rate discount provided to those with a Dream Rewards Checking.
Provide clear access to disclosures, fee schedule, rates, account terms:
How to Help Your Teen Build Credit
Giving your teen a credit card now will help them build their credit score in the future. Here are some things you can do to help your teen understand the importance and power of a credit card:
- Teach teens how credit works before they turn 18.
- Explain credit scores, utilization, and responsible card use.
- Set clear expectations for when and how they’ll use credit.
Putting these lessons into practice now can help your teen build confidence and develop healthy credit habits in the future.
Help Teens Manage Their Finances from Anywhere
Sign up for Home Banking and download the Cyprus CU Mobile Banking app to access accounts 24/7, plan their budget, and view their spending habits.
Also, access Card Controls, which lets you set up your cards according to your goals, including:
- Enabling or disabling cards
- Setting transaction limits
- Setting up your digital card
- Creating account alerts
- Report cards lost or stolen
- And more!
Compare Options
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Teen Visa Credit Card 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 to help my teen build credit?
Start Your Teen’s Credit Journey Today!
Apply for a new low-rate Visa credit card today and give your teen the tools to build healthy credit building habits. To qualify for a Cyprus Low-Rate Visa card, your teen must be a member of Cyprus Credit Union, and apply with a qualified cosigner.
Start your application below. You can also call our lending team at 801-260-7700 or visit any of our branch locations.
