2006-06-29 09:10:33 · 7 answers · asked by yeah its mee! 2 in Business & Finance ➔ Credit
AngrySanta says… Not really possible. You’ll have to get a “secured” card, but shop wisely because a lot of them are scams with HUGE fees. Go with a big name company and shop around. Usually they’ll off a a “1 for 1” ratio, meaning you deposit $200 and you can charge $200, but some companies go up to '"1 for 5". This will build your credit.
The route I took was I joined a local credit union (many are now open to people by just living or working in a certain region) and borrowed a grand from my buddy and deposited it, and then took out a loan on that money and paid him back. I took out a several-year loan and with monthly payments and built up a credit history and after about two years I paid it off and had an extra $1000 in my pocket when I took my money out.
I also got a secured card which I had for years and years before I realized last year that I was still paying a $39 annual fee which just made me SO ANGRY. They wouldn’t take the fee off either, so I had to cancel that card. Too bad, my credit rating took a hit for a couple points because that was my oldest card. Oh well. Good luck!
Side note - I was denied a gas card so many times it’s not even funny, (before I realized each application lowered my score a little), I still don’t have a gas card. The jokes on them though, I have a rewards card now and get 5% rebate on all my gas purchases! Mu-HAHAHAHA!
2006-06-29 09:53:12 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Try a local community bank. When I turned 18 my bank opened a small credit card account for me (I think my limit was $200 or something) to help me start building credit. I had such good experiences with them that now I work for them. ;)
2006-06-29 11:15:44 · answer #2 · answered by inaccord18 3 · 0⤊ 0⤋
like santa said, you will have to get a "secured" credit card, which means you put how ever much you want your limit to be down up front, that way you can only borrow what you have given them. But, you can also be charged high interest, so only get one if you plan on paying it off monthly. I started off witha secured card from wellsfargo for just $300 for gas purchases, so think about that.
2006-06-29 13:00:29 · answer #3 · answered by tubbasaurus 2 · 0⤊ 0⤋
You can't get a "free" cerdit card, but a good place to start is a department store credit card like Home Depot, Sears, etc.
2006-06-29 09:13:26 · answer #4 · answered by zzzzzzzzzzzzzzzzzz 4 · 0⤊ 0⤋
Orchard Bank. they deal mostly with people with limited, no credit or bad credit. Go to orchardbank/card.com
2006-06-29 09:56:01 · answer #5 · answered by Kali_girl825 6 · 0⤊ 0⤋
They say to start with a gas card.
2006-06-29 09:14:01 · answer #6 · answered by jlchipmunk 3 · 0⤊ 0⤋
There is some good info here.
2006-06-29 21:56:26 · answer #7 · answered by Anonymous · 0⤊ 0⤋