Do you want to get a Bank of America card and are wondering about the age requirements? You've come to the right place! Navigating the world of banking and credit can seem a bit complex, especially when you're starting. But don't worry, we'll break it down for you step-by-step, making it easy to understand how old you need to be for various Bank of America card options.
Unlocking Your Financial Future: How Old Do You Have to Be for a Bank of America Card?
Getting a bank card is a significant step towards financial independence. It allows you to manage your money, make purchases, and even build your credit history. Bank of America, being one of the largest financial institutions, offers a range of cards – from debit cards linked to checking accounts to various credit cards. The age requirements differ based on the type of card you're interested in. Let's explore each one.
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| How Old Do You Have To Be To Have A Bank Of America Card |
Step 1: Identify Your Card Goal – What Kind of Card Do You Need?
Before diving into age specifics, ask yourself: "What do I want a Bank of America card for?" Are you looking for:
- A debit card to access funds from a checking or savings account?
- A credit card to build credit and make purchases with borrowed money?
- A student credit card specifically designed for those in higher education?
- A secured credit card to establish or rebuild credit with a security deposit?
Your answer will determine the path you need to take and the age you need to be.
Step 2: Understanding Age Requirements for Debit Cards (Checking/Savings Accounts)
Debit cards are linked to your checking or savings account and allow you to spend money you already have. Bank of America offers options for individuals of various ages for checking and savings accounts, which come with debit cards.
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Sub-heading: For Minors (Under 18)
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Bank of America SafeBalance Banking® for Family Banking (Parent-Owned):
- Minimum Age: Your child can have access to online banking and a debit card as early as six years old with parental controls. The account itself is parent-owned.
- Key Features: This account is designed to give younger children hands-on experience with a debit card while parents maintain significant control over spending limits and categories. Direct deposit and Zelle are typically unavailable for the child; only the parent can deposit or transfer money into the account.
- How it Works: A parent or legal guardian (who must be 18 or older and have an eligible Bank of America account) opens the account, and the child is given access with certain limitations. This is a great way to introduce financial literacy early on.
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Bank of America SafeBalance Banking® (Student and Young Adult-Owned or Co-Owned):
- Minimum Age: You can be the sole owner of this account starting at age 16. If you are under 16, you can co-own the account with a parent or legal guardian.
- Key Features: This account offers more features for teens and young adults, including the ability to deposit money using direct deposit or mobile check deposit, and send/receive money with Zelle (for those aged 13+). It also comes with a debit card and no monthly fee until age 25.
- Important Note: To open an account with someone under the age of 13, you'll need to schedule an appointment and visit a financial center with a parent or guardian.
Sub-heading: For Adults (18 and Older)
- Minimum Age: If you are 18 years or older, you can open a checking or savings account in your own name without a co-signer.
- Requirements: You will typically need a valid government-issued photo ID (like a driver's license or passport), your Social Security number, and a minimum opening deposit. You can often apply online or in person at a Bank of America financial center.
Step 3: Navigating Age Requirements for Credit Cards
Credit cards are a different ball game entirely, as they involve borrowing money and building a credit history. The rules are stricter due to federal regulations.
Sub-heading: For Individuals Under 21
Due to the CARD Act of 2009, obtaining a credit card if you're under 21 years old has specific requirements.
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Minimum Age: You must be at least 18 years old to apply for a credit card in your own name.
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Proof of Independent Income: If you are between 18 and 20 years old, you will need to demonstrate that you have sufficient independent income to make the minimum payments. This income must be verifiable and can include:
- Wages from a job or work-study program.
- Regular allowances from a family member.
- Residual amounts of income from scholarships or other financial aid (not student loans) after paying tuition and other college expenses.
- Crucially, you generally cannot rely on a parent's income or household income unless you have a "reasonable expectation of access" to it, which is typically for those 21 or older.
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Co-signer (Less Common for Bank of America): While the CARD Act allows for a co-signer (someone at least 21 who agrees to be responsible for the debt), many major credit card issuers, including Bank of America, no longer offer co-signed credit cards. Therefore, focusing on independent income is key if you're under 21.
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Authorized User: If you are under 18 (or even 18-20 and can't meet the income requirements), a great way to start building credit is to become an authorized user on a trusted adult's credit card account (like a parent or guardian).
- Benefit: Your credit activity (if the primary cardholder uses the card responsibly) can be reported to credit bureaus, helping you establish a credit history.
- Parental Control: The primary account holder remains responsible for all charges. Some issuers may have a minimum age for authorized users (e.g., 13 years old), but this varies.
Sub-heading: For Individuals 21 and Older
- Minimum Age: Once you reach 21 years old, the independent income requirement is relaxed.
- Broader Income Consideration: You can now include a wider range of income sources on your application, including household income to which you have a "reasonable expectation of access" (e.g., a spouse's or partner's income).
- Credit History: While age 21 removes some income restrictions, having a good credit history (or at least some credit history) and a solid credit score becomes increasingly important for approval for most credit cards, especially those with better rewards and benefits.
Step 4: Special Considerations: Student and Secured Cards
Bank of America offers specific card types that can be beneficial for younger individuals or those new to credit.
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Sub-heading: Bank of America Student Credit Cards
- Target Audience: These cards are designed for college students and aim to help them establish credit.
- Age Requirement: You still need to be at least 18 years old.
- Income Requirements: Similar to other credit cards for those under 21, you'll need to demonstrate sufficient independent income. You may also need to verify your student status.
- Benefits: Student cards often come with features that help build credit responsibly, such as free FICO score access and educational resources.
Sub-heading: Bank of America Secured Credit Cards
- Purpose: Secured credit cards are an excellent option for those with no credit history or poor credit who want to build or rebuild their credit.
- Age Requirement: You must be at least 18 years old.
- How it Works: You provide a security deposit (e.g., $200-$5,000), which typically becomes your credit limit. This deposit secures the credit line, reducing the risk for the bank.
- Building Credit: Responsible use (making on-time payments and keeping utilization low) of a secured card can significantly improve your credit score over time, potentially allowing you to "graduate" to an unsecured card.
Step 5: Essential Documents and Information for Application
Regardless of your age or the type of card, you'll generally need the following when applying for a Bank of America card:
QuickTip: Skim the ending to preview key takeaways.
- Valid Government-Issued Photo ID: Driver's license, state ID, passport, etc.
- Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN): An SSN is usually required for credit cards. For checking/savings accounts, an ITIN may be accepted.
- Proof of Address: Utility bill, rental agreement, or other official document showing your current residence.
- Income Information (especially for credit cards): Pay stubs, bank statements, or other documentation to verify your income.
- Minimum Opening Deposit (for some accounts/secured cards): This can vary.
Step 6: Understanding the Application Process
Whether you apply online or in a financial center, the process usually involves:
- Filling out an application: Providing your personal, contact, and financial information.
- Identity Verification: The bank will verify your identity using the documents you provide.
- Credit Check (for credit cards): For credit cards, Bank of America will perform a "hard inquiry" on your credit report. This can temporarily lower your credit score by a few points.
- Approval Decision: The bank will assess your application based on their criteria and inform you of their decision.
Final Thoughts: Responsibility and Financial Growth
Getting a Bank of America card, whether a debit or credit card, is a step towards managing your finances. Remember, responsible use is paramount, especially with credit cards. Pay your bills on time, keep your credit utilization low, and only spend what you can afford to repay. Building a positive financial history early on will set you up for greater financial opportunities in the future.
10 Related FAQ Questions
How to open a Bank of America checking account for a child under 13? You need to visit a Bank of America financial center with your child to open a parent-owned SafeBalance Banking® for Family Banking account. The child can then gain online access and a debit card with parental controls.
How to get a Bank of America debit card if I'm 16 years old? At 16, you can open a Bank of America SafeBalance Banking® account as a sole owner or co-owner with a parent or guardian, which will come with a debit card.
QuickTip: Look for repeated words — they signal importance.
How to apply for a Bank of America credit card if I am 19 and a student? You must be at least 18. As a 19-year-old student, you'll need to demonstrate sufficient independent income (from a job, allowance, or financial aid residuals) to show you can make minimum payments. Many student credit cards are designed for this purpose.
How to build credit with Bank of America if I have no credit history? Consider applying for a Bank of America secured credit card, where your credit limit is secured by a cash deposit. Responsible use of this card will help you establish a positive credit history. Alternatively, becoming an authorized user on a trusted individual's credit card can also help.
How to become an authorized user on a Bank of America credit card? The primary account holder of a Bank of America credit card can typically add you as an authorized user by contacting Bank of America directly (online, by phone, or in a branch). You will usually need to provide your name and sometimes your date of birth.
How to qualify for a Bank of America credit card if I'm under 21 and don't have a job? If you're under 21 and don't have a job, you'll need to show other forms of independent income to make payments, such as regular allowances from a family member or residual financial aid. If this isn't possible, becoming an authorized user on someone else's card is a common alternative.
QuickTip: Pay attention to first and last sentences.
How to get a Bank of America credit card with a co-signer? While the CARD Act allows for co-signers, Bank of America (and many other major issuers) generally do not offer credit cards with co-signers. You should focus on meeting the independent income requirements if you're under 21.
How to check my eligibility for a Bank of America credit card before applying? Bank of America may have tools on their website that allow you to check for pre-qualified offers, which can give you an idea of your approval chances without a hard credit inquiry. However, these are not guarantees of approval.
How to avoid monthly fees on a Bank of America student checking account? Bank of America's SafeBalance Banking® accounts for students and young adults typically have no monthly maintenance fee until the account holder reaches age 25.
How to get a joint bank account at Bank of America with a minor? If the minor is 13-17, you can open a joint Bank Smartly Checking® account online or in a branch (both must be present). For minors under 13 or other account types, you'll generally need to make an appointment and visit a financial center together.
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