Visa for Teens

Introducing Your Teen to Credit

Introducing your teen to credit before they leave the home is a great way to help them prevent financial pitfalls in adulthood. Here are some of things that you can do right now to help your teen understand the importance and power of a credit card:

CREDIT SCORE

Having and using credit responsibly will help build your teen's credit score. This score determines whether or not they will be able secure loans, jobs, apartments, and more. Sit down and explain credit scores with your teens as well as the factors that help it go up and down. Misusing their card now can affect their score for years to come.

CREDIT BALANCE

Unlike a debit card, a credit card is using money that you may not necessarily have. Teach your teen about staying under 30% of their credit limit (this will help keep their score high) and not buying anything that they don't have a plan for paying off.

CREDIT PURPOSE

What will this card be used for? Is it for emergencies only? Maybe it's for school expenses. Whatever it may be, sit down with your teen and let them know what your expectations are for the card, especially if they are an authorized user on your account.

Hand holding credit scoreCYPRUS PLATINUM VISA

In order to qualify for a Cyprus Platinum Visa card, a teen must:

  • Be a member of Cyprus Credit Union
  • Apply with a qualified co-signer

Benefits of a Cyprus Platinum Visa:

  • Low rates
  • Start establishing credit
  • Notifications to keep parents in the know
  • Card Controls to help manage card
  • Free mobile banking
  • Access to more than 28,000 surcharge free ATMS nationwide
  • 25 day grace period on purchases
  • Verified by Visa protection

To apply, call (801) 260-7700 or visit any of our branch locations.

Home Banking

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Visa Platinum Rewards

APR as low as 11.74%

Visa Platinum

APR as low as 10.24%
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