Writer: Brittney Mayer
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
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Although not quite 70 years old, the credit card has quickly become a fixture of American consumer finance, which means there are a handful of common credit card requirements consumers may come across.
The U.S. today is home to more than 350 million credit cards. To put that number in perspective, consider the fact that, with a population of approximately 326.6 million people, the U.S. officially has more credit cards than people.
More surprising than the sheer number of cards may be that, despite the fact that the U.S. has more than 4,600 commercial banks, the majority of those hundreds of millions of cards are issued by only 10 of them.
Because of — or, perhaps, despite — the narrow field of banks issuing credit cards, requirements are fairly uniform across the various issuers. While there may be some variance depending on the issuer or card (particularly in regards to specific income and credit qualifications), the majority of credit cards share the same basic seven requirements. In this article, we’ll take a closer look at these seven requirements, including age minimums, verifiable income, and having your address and social security number on hand. We’ll also look at some credit card offers for a range of credit scores.
Age Requirements | Verifiable Income | Address | Social Security Number |
Card Offers and Requirement Variations | Number of Accounts | Brand Relationships
1. Solo Credit Card Applicants Must Be 21 or Older
Not so long ago (pre-2009, to be precise), young adults could look forward to an onslaught of credit card offers hitting their mailboxes practically the day they turned 18. I remember these offers filling my mailbox when I was barely out of high school. Thankfully, I did not sign up for any dubious offers during my younger and more naive days. These days, the chances are you won’t see much in the way of credit card offers until you turn 21 — and that’s thanks to the CARD Act of 2009.
In addition to specifying that card issuers cannot send unsolicited credit card offers to consumers under the age of 21, the CARD Act stipulates that solo credit card applicants must be at least 21 years old.
That said, the CARD Act does provide a few exceptions to the rule. Specifically, consumers aged 18 to 20 who can prove an independent source of income are eligible to apply for a personal credit card. In addition, those over 18 who have a qualified co-signer may also apply for their own card.
Those who are underage but still wish to start building a credit history should consider becoming an authorized user on the credit card account of a family member with good credit. This can help build your own credit history whether you actually use the card or not, and can teach good credit habits starting at 13 or younger, depending on the issuer.
2. You Must Have a Verifiable Income Source
A verifiable income source is a standard requirement for any potential cardholder, and is particularly important for applicants under 21 and those with poor credit. In most cases, your income doesn’t necessarily need to be a form of employment to qualify and could include investments or other income sources.
Although not every applicant who is approved will need to submit documentation to verify their income, it’s not a completely rare event, either, especially if they have a rocky credit report. Another reason not to stretch the income truth? It’s actually illegal to provide false information on a credit application and can get you into trouble if you are caught at it.
The specific income requirement will vary based on the specific card, but will typically be at least $800 a month. Of course, some of the most exclusive credit cards can require six-figure salaries (or more).
3. Card Applicants Need a Physical Address
Perhaps a surprise to those who don’t apply for credit frequently is that anyone looking for a new credit card will need a physical address to complete the application. This has been the case since the end of 2001, when the U.S. PATRIOT Act was put into effect, making it necessary for all financial institutions to enact a Consumer Identification Program (CIP).
Consumers can use either a home or business address, provided it is a physical address. According to the law, post office (PO) boxes do not count as physical addresses, and consumers will not be able to complete a credit card application with a PO box number. The only exceptions to the law are for Army Post Office (APO) boxes, typically granted to military personnel serving overseas, or for Fleet Post Office (FPO) boxes.
While financial institutions are required to collect a physical address, you do not have to receive mailed correspondence at that address. Your actual mailing address can be a PO box or other commercial mailbox.
4. U.S. Citizens Must Provide a Social Security Number
Your Social Security Number (SSN) is a necessity for just about anything to do with your finances — including getting a job — and that doesn’t stop with credit. A request for your SSN will likely be on every credit card application you encounter. Not only is it one of the ways the bank verifies your identity (which it is legally required to do), it also helps ensure the correct credit report is used.
New credit card applicants will likely be required to supply an SSN, ITIN, or EIN.
In the case of resident aliens, foreign nationals, and other immigrants who don’t qualify for an SSN, some issuers will accept an Individual Taxpayer Identification Number (ITIN) in its place. Those eligible for an ITIN can obtain one through the IRS after verifying their identity.
Additionally, businesses looking to obtain a credit card will be required to provide either their personal SSN or an Employer Identification Number (EIN). Any business that pays employees or business taxes is required to have an EIN.
5. Credit Requirements Will Vary By Issuer & Card
After verifying your identity, the very next thing most issuers will do when you apply for a credit card is to make a hard credit inquiry, requesting your credit report from one (or all three) of the major consumer credit bureaus, Equifax, Experian, and TransUnion. Then, probably using the FICO Bankcard Score 8 — or an internal, proprietary model — the bank will determine your credit risk.
The specific credit score required for approval will vary largely with the card and issuer, but, in general, higher scores are always preferable. For the most part, high-limit cards and those with the biggest rewards will typically require the highest credit scores, while subprime issuers will tend to have lower credit score requirements than other issuers.
Excellent Credit | Good Credit | Fair Credit | Poor Credit
Credit Cards for Excellent Credit
The top of the credit score food chain, consumers with excellent credit — 800 and up on the FICO scale, 750 and up on the VantageScore 3.0 scale — will have their pick of the credit card offer litter. In fact, those with excellent credit may have a hard time choosing between all the great cards, so start with our top three below.
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 6% cash back for the first year in the category of your choice. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category.
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- Select your card design option when you apply – the Customized Cash Rewards design, or the limited-time FIFA World Cup 2026™ design.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge and Landing locations and participating Priority Pass™ lounges, after enrollment
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Top rated mobile app
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Earn unlimited 1.5 points per $1 spent on everyday purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants, including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
+See More Cards for Excellent Credit
Credit Cards for Good Credit
Consisting of FICO scores above 670 and VantageScores of 700 and up, consumers in the good-credit category won’t see the same rates as their excellent-credit counterparts, but will still have a range of quality offers from which to choose. For instance, our top picks all include solid rewards and never charge an annual fee.
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Redeem cash back for any amount. No annual fee.
- 0% intro APR on purchases and balance transfers for 15 months; 17.49% - 26.49% variable APR after that; balance transfer fee applies.
- Terms and conditions apply.
- Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
- Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, earn 5% total cash back on hotel, car rentals and attractions booked with Citi Travel.
- Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.49% - 27.49%, based on your creditworthiness.
- Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
- If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Additional Disclosure: Citi is a CardRates advertiser.
- Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- $0 annual fee and no foreign transaction fees
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases and balance transfers for 15 months; 18.49% - 28.49% variable APR after that; balance transfer fee applies
- Top rated mobile app
+See More Cards for Good Credit
Credit Cards for Fair Credit
The “fair” credit range encompasses FICO scores between 580 and 669, and VantageScores of 650 to 699. While consumers in this credit score range are not limited to subprime issuers, they are unlikely to be approved for some of the more feature-rich cards. That said, our top picks include a number of options for earning rewards on everyday purchases.
- No annual or hidden fees. See if you're approved in seconds
- Be automatically considered for a higher credit line in as little as 6 months
- Help build your credit through responsible use of a card like this
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Monitor your credit score with CreditWise from Capital One. It's free for everyone
- Get access to your account 24 hours a day, 7 days a week with online banking from your desktop or smartphone, with Capital One's mobile app
- Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you're all set
- Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
- Top rated mobile app
- Earn unlimited 3% cash back at grocery stores (excluding superstores like Walmart® and Target®), on dining, entertainment and popular streaming services, plus 1% on all other purchases
- No rotating categories or limits to how much you can earn, and you can use your cash back for any amount–get gift cards, cover purchases or redeem for cash. Plus, rewards don’t expire for the life of the account
- Be automatically considered for a higher credit line in as little as 6 months
- Help strengthen your credit for the future with responsible card usage
- Enjoy unlimited access to your credit score and tools to help you monitor your credit profile with CreditWise from Capital One
- Enjoy peace of mind with $0 Fraud Liability so that you won't be responsible for unauthorized charges
- Earn 8% cash back on Capital One Entertainment purchases with your SavorOne Card and enjoy exclusive access and cardholder perks
- Earn unlimited 5% cash back on hotels, vacation rentals and rental cars booked through Capital One Travel
- Capital One SavorOne cardholders can pay with their rewards via PayPal Pay with Rewards and at Amazon.com
- Top rated mobile app
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $50 cash back into $100. Or turn $100 cash back into $200.
- Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Redeem cash back for any amount
- No credit score required to apply.
- No annual fee and build credit with responsible use.
- 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 16.49% - 25.49% applies.
- Terms and conditions apply.
+See More Cards for Fair Credit
Credit Cards for Poor Credit
With the lowest FICO and VantageScore numbers, those who fall into the “poor” or “bad” credit ranges are the least likely to be approved for new credit. These consumers will likely need to focus on obtaining a secured credit card, which will require an initial deposit to open, or on applying to cards from subprime issuers who specialize in poor-credit consumers. Our top picks will report to the three major credit bureaus so you can build credit.
- Up to $1,000 Initial Credit Limit
- See if you Pre-Qualify with No Impact to your Credit Score
- Less than perfect credit? We understand. The Surge Mastercard is ideal for people looking to rebuild their credit.
- Unsecured credit card requires No Security Deposit
- Perfect card for everyday purchases and unexpected expenses
- Monthly reporting to the three major credit bureaus
- Use your card everywhere Mastercard is accepted at millions of locations
- Enjoy peace of mind with Mastercard Zero Liability Protection for unauthorized purchases (subject to Mastercard guidelines)
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- PREMIER Bankcard credit cards are for building credit.
- Start building credit by keeping your balances low and paying all your bills on time each month.
- When you need assistance our award-winning US-based Customer Service agents are there to help.
- Credit Limit Increase Eligible after 12 months of consistent responsible account management.
- We report monthly to the Consumer Reporting Agencies to help you build your credit.
- Guaranteed $700 credit limit if approved.
- Apply with Confidence! There is no impact to your credit score if you’re not approved. See terms.
- Don't Have Perfect Credit? No Problem!
- Join over a million consumers who are working on building their access to credit.
- Zero Fraud Liability - Peace of mind that comes with having a Mastercard.
- Get the credit you deserve, even with less-than-perfect history.
- No security deposit, and a path to better credit.
+See More Cards for Poor Credit
6. You Shouldn’t Have Too Many Recent New Accounts
Another requirement for which the specifics tend to vary by issuer is the limit on the number of new accounts you can have at the time of application. This requirement, a fairly recent one for some issuers, shows up as a limitation on new accounts, the total number of accounts, or even your total available credit.
For instance, American Express requires that new credit applicants not have more than three current American Express credit cards in their name, including both business and personal cards, with a maximum of four Amex cards at any time. Of course, the poster child for the requirement is Chase Bank, whose infamous “5/24 Rule” was applied to the bulk of its cards in mid-2016.
In essence, Chase’s rule means that consumers who have opened five or more new credit accounts within the last 24 months will be automatically rejected if they try to apply for a new Chase credit card (including most co-branded cards). The limit of five new accounts includes both Chase credit accounts and those opened with other banks.
7. Bad Brand Relationships May Impact Your Approval
The last requirement you’ll be likely to encounter when applying for a new credit card is that you have a good — or, at least, neutral — relationship with the issuing bank. This refers to both your actual relationship (a history of cursing at the customer services agents will be remembered) as well as any financial relationships.
In general, if you’ve had an account of any sort with the bank before, including being a co-signer on someone else’s account, and it became delinquent or was discharged in a bankruptcy, the bank will be less likely to offer you credit in the future. Even if the incident has been taken off your credit reports, the bank may have internal records that retain the information.
I recently applied for the Chase Freedom and received a letter of denial. According to the letter, I was denied because of, ‘Delinquency or other derogatory relationship with our bank.’ — myFICO Forum Member
Fortunately for those caught in the crossfire, some reports indicate you may have luck calling the bank and explaining your situation. If the issue was far in the past and/or due to the mistakes of someone else, you may be reconsidered for credit.
Make Sure You Meet the Requirements Before You Apply
With more cards than people, the U.S. is home to literally hundreds of millions of credit cards — and there’s likely one out there with your name on it. Yes, credit cards truly have become a major part of American consumer culture, and even the lowly vending machine now accepts plastic as payment.
Of course, no matter how many of the cool kids have them, credit cards are not to be taken lightly. Credit cards have real financial implications and responsibilities attached to them, and therefore must be used responsibly.
And, of course, whether you’re looking for your first credit card or your 71st, it’s important to know what to expect. Your chances of approval are always highest when you know you meet the requirements before you even apply.
Advertiser Disclosure
CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.
Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
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