Visa for Teens

Introducing Your Teen to Credit

Introducing your teen to credit before they leave 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 a line of credit responsibly will help to build your teen’s credit score in the future. This score can play a role in determining whether or not they'll be able to secure loans, jobs, apartments, and more. Sit down and explain credit scores with your teen as well as the factors that help it go up and down. This is an opportunity for them to practice good habits that can benefit them once they have a credit profile of their own, as well as to learn from their mistakes. Under normal circumstances, credit will not begin reporting under your child’s name until they turn 18.

Credit Utilization

Unlike a debit card, using a credit card can mean spending 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 the 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're an authorized user on your account.

 

 

Teen credit score

 

 

Cyprus Platinum Visa:
Our lowest-rate Visa card

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

  • Be a member of Cyprus Credit Union
  • Apply with a qualified cosigner

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

cardMore Features & Benefits

  • No Fees. No annual fees, no transaction fees, no balance transfer fees, and no minimum finance charges.
  • Protected by 3-D Secure technology
  • 24-hour online account access on Home Banking and the Mobile Banking app
  • No penalty APR
  • Manage your card with the Cyprus Card Control app
  • 25-day grace period on purchases
  • Billing dispute resolution
  • Easy-access cash advances
  • Choice of card designs

 

Visa Terms

 

Visa Rewards

APR as low as 14.74%

Visa Platinum Rewards

  • Earn one point for every dollar you spend
  • Redeem for gift cards, travel, merchandise & more

Visa Cash Back

APR as low as 17.74%

Visa Platinum Cash Back

  • 1.5% cash back on all purchases 
  • Paid quarterly and automatically deposited to your savings account 

Visa Low-Rate

APR as low as 12.24%

Visa Platinum

  • Lowest interest rate
  • Great for debt consolidation

 

Home Banking

The products and services on this page are offered through LPL Financial or its affiliates by Registered Representatives of LPL Financial. These products and services are not credit union deposits, not credit union guaranteed, not insured by NCUA or any other government agency, and may lose value. Cyprus Credit Union is a separate entity and is not affiliated with LPL Financial.
Links from the Cyprus Credit Union web site to other web sites are provided solely as a convenience to visitors. If you use these links, you will leave the Cyprus Credit Union web site.

The Credit Union does not have any responsibility or control over any of these external web sites, their content or their privacy policies. We do not endorse or make any representations about third-party external web sites, including any information, products, materials or results that may be obtained from using them.

If you decide to access any of the linked third-party web sites, you do so entirely at your own risk. You are encouraged to review the privacy notice for each linked web site.
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