Can I use a credit card from 18 years old? How to open card & need to know

1. Can I open a credit card from 18 years old?

According to Clause 1 Article 16 Circular 19/2016/TT-NHNN (amended in Circular 26/2017/TT-NHNN), the age to open a credit card is regulated as follows:

• From 18 years old or older: You are allowed to open and use credit cards, debit cards or prepaid cards provided you have full civil capacity.
• From 15 to under 18 years old: The card can only be used if there is no restriction on civil act capacity and there are private assets to ensure the performance of obligations arising from the use of the card.

So, people from 18 years old You can absolutely open a credit card. Owning a credit card at this age brings many significant benefits, including:

• Easy payment: With a credit card, customers can make online shopping, in-store payments or international transactions with just a few simple steps. This is the optimal solution to replace cash, minimizing the risk of asset loss.
• Accumulate financial reputation: Using the card properly early on is an opportunity for customers to build a good credit history, thereby making it easier for them to borrow money or open a credit account in the future.
• Special promotion program: Many banks offer incentive programs such as discounts, refunds, or reward points when using cards at affiliated partners' establishments, helping customers save costs effectively.
• Support in urgent situations: Credit cards are the optimal solution when you need to make an urgent payment without cash available, especially in the current era when customers tend to prioritize convenient payment methods such as bank transfer or card swiping.

2. Conditions Open a credit card for 18 year olds

To have a bank approve a request to open a credit card, customers over 18 years old need to meet a number of specific conditions related to income, credit history, ability to pay and legal documents. Below are the detailed conditions:

• Stable source of income: This is the basis to help the bank evaluate the customer's financial capacity and solvency, proven through payroll, income confirmation from the bank or business documents (if any).
• Good credit history: A good credit history reflects effective financial management ability, helping to increase the rate of approval of a credit card request. This factor is determined by the customer's on-time payment of previous loans or bills. Credit history is carefully reviewed for customers who have previously owned a credit card.
• Legal conditions: Client Need to provide legal personal documents such as ID card/CCCD, passport, and valid identification documents to help the bank verify information and limit risks related to fraud or identity falsification.
• Payment ability: In addition to stable income, customers need to provide additional documents proving their ability to pay through documents proving income and credit history. Through that, the bank can accurately assess the ability to repay debt on time and in full according to regulations.
• Special conditions (if any): In addition to the above conditions, some banks require customers to provide additional documents such as documents proving savings, credit score reports and related documents. Meeting these conditions, customers can receive a credit card with preferential interest rates and other special benefits.

3. Credit card opening documents for 18 year olds

Preparing complete documents is one of the prerequisites for opening a credit card. Preparing correct and complete documents will help shorten processing time and ensure the card opening process goes smoothly. Below are the required documents:

• Proof of identity (ID card/CCCD, passport or valid identification document).
• Proof of residence (valid household registration/temporary residence certificate).
• Financial capacity records such as labor contract, salary statement (if any).
• Other documents as required by the bank.

4. Ways to open a credit card for 18 year olds at SeABank

Currently, SeABank applies the two most popular methods to open credit cards, flexibly meeting customer needs including: opening directly at the transaction counter or registering online right at home. Understanding the specific implementation method will help customers complete the process smoothly and effectively.

4.1. Open a credit card directly at the counter

This method is suitable for customers who are not familiar with technological operations and wish to receive detailed instructions from bank staff. Implementation steps include:

• Step 1: Prepare all documents as required by SeABank and go to the branch or transaction office during office hours.
• Step 2: Get the order number and wait for your turn to transact.
• Step 3: Go to the transaction counter printed on the ticket with the order number.
• Step 4: Present necessary documents such as ID card/CCCD, Passport and documents required to open a credit card according to SeABank's regulations.
• Step 5: The transaction staff receives the request and confirms the information.
• Step 6: If the application is approved, the customer selects the desired credit card type and discusses details with the bank staff.
• Step 7: Sign confirmation and receive a credit card appointment from the teller.

4.2. Open a credit card online at home

For customers who want to save time and prioritize convenience, SeABank provides online credit card registration services through SeA applications.aNet or SeaMobile. The steps are as follows:

• Step 1: Access SeaNet or SeaMobile, select "Cards". Then, select "Apply for card issuance" and select "Physical credit card".
• Step 2: Choose the card type that suits your needs and click "Register to open card".
• Step 3: Fill in the necessary information to issue the card, then select "Continue".
• Step 4: Confirm the entered information.
• Step 5: Enter OTP code/Pin code to complete the card registration process.
• Step 6: Come to receive the goods to receive the card or register to have the card delivered home when notified that the card is available.

You can easily register a credit card online on SeABank's online banking

5. Incentives when opening a credit card for people over 18 years old at SeABank

To bring the best experience to customers, SeABank is currently implementing many attractive incentive programs for new customers, including:

• Card use incentives:
  • Benefits: Customers have the opportunity to receive diverse and valuable incentives such as refunds or discounts when shopping, dining, traveling abroad,... and many other special programs.
  • Applicable fields: Cuisine, hotel, golf, shopping, beauty, travel, health, automobile.
  • Scope of application: For customers nationwide.

For more details, please refer to: SeABank card incentives.

• Installment offers:
  • Benefits: Helps customers optimize costs by splitting payments up to 12 months with optimal interest rates from 0%/month.
  • Benefits: Purchase and pay with 0% preferential installment interest rate, unlimited number of installment purchases per customer in 1 statement period, large number of partners in many fields.
  • See installment payment program details here

6. Be careful when using credit cards for people over 18 years old

To take full advantage of credit card benefits and ensure financial security, customers (especially those opening a card for the first time) should note the following important factors:

• Protection of personal information: 

It should be noted that credit card information security should be a top priority. Absolutely do not share PIN codes, CVV numbers or card information on unreliable websites. This helps ensure safety and avoid risks of fraud and using card information for illegal purposes.

• Choose a reputable bank: 

Choosing a trustworthy bank helps customers feel secure throughout the card usage process, while also reducing the risk of facing unwanted financial problems or fraud risks.

Always putting customer interests first, SeABank is a reliable choice with transparent policies, quick card opening process, attractive incentives, and professional customer care service, bringing satisfaction to customers throughout the credit card usage process.

• Understand card terms and fees:

Before opening a card, customers need to carefully read the terms of fees, interest rates and card usage conditions to proactively control costs effectively, avoiding unwanted fees that affect the ability to pay.

• Choose the appropriate card type: 

Each type of credit card has different incentives, interest rates and limits. Customers should determine their personal needs (shopping, travel, installment payments) and choose the most suitable card type, and prepare documents to meet the corresponding card opening conditions so that the registration process can be quick.

• Set reasonable financial goals: 

Using a credit card should come with a clear financial plan. Determine your spending purpose, set a specific budget and monitor it regularly to manage spending closely, avoiding unnecessary expenses that can exceed your budget.

• Take advantage of promotions and offers: 

Credit cards often come with cashback, discount, or points programs. Follow and take advantage of these incentive programs to optimize spending effectively.

• Maintain a good CIC credit score: 

A high CIC credit score not only helps customers avoid penalties but also creates favorable conditions when considering opening additional cards or loans in the future. Therefore, make sure to pay your outstanding balance on time to maintain a positive credit score.

7. Answers to frequently asked questions about opening a credit card at 18 years old

Question 1: At which bank can an 18 year old open a credit card?

People from 18 years old, when meeting all the necessary conditions, can open a credit card at most banks in Vietnam.

Question 2: Can I open a credit card under 18 years old?

The law stipulates that people from 15 to under 18 years old can still open a primary or supplementary card if their civil capacity is not limited. However, according to the regulations of the State Bank, the minimum age to open a credit card is 18 years old. 

Question 3: How much does it cost to open a credit card?

Current credit card opening fees range from 100,000 VND to 2,000,000 VND, depending on the card type and each bank's policy.

Question 4: How much income is required to open a credit card?

Normally, with an income of 5 million VND or more per month, customers can open a credit card, however, specific requirements may vary depending on the bank.

Question 5: How long does it take to open a credit card?

Time to open a credit card depends on the bank and registration method. This process usually takes 3 to 14 business days.

With the above detailed information, we hope customers have a clear understanding of the conditions and processes Open a credit card from 18 years old, along with necessary benefits and notes when using the card. Make sure that customers meet all financial and legal requirements, and choose a reputable bank to have the best credit card experience.

For more detailed information about credit card products at SeABank, customers can refer to the website https://seabank.com.vn or call hotline 1900.599.952 for support.