According to the Credit Card Act of 2009, what is the earliest age that a person can apply for and receive a credit card without restriction?

The Credit Card Act of 2009 established several consumer protections related to the issuance of credit cards, particularly for young adults. According to this legislation, the minimum age to apply for a credit card without restrictions is 21.

This means that individuals under the age of 21 are generally required to have a cosigner or prove their ability to manage debt, such as through regular income or other financial resources, in order to qualify for a credit card on their own. This provision was put into place as a measure to protect younger consumers from accumulating debt without fully understanding the implications of credit card use.

While individuals may turn 18 and become adults legally, the guidelines under the Credit Card Act suggest that additional financial maturity—represented by turning 21—is needed to apply for credit independently. This age limit helps ensure that consumers have more experience and responsibility before taking on the potential financial liabilities associated with credit cards.