How does a 23yr old get credit?

Question

i dont have bad credit i have no credit and i need to know how to get some. I live in ohio so maybe some places give it here for starter ppl?

Answer 1

Try to have someone add you as an authorized user on their cards. (your parents or a sibling) Make sure that the accounts that you are added to have a good history and low utilization, otherwise you would be defeating your purpose.

If you are added, wait for the card(s) to start reporting before you appy anywhere. The cards should start reporting in a month or two. If they don't start after a couple months, write and request that they report to all three credit bureaus.

Go to your bank and inquire about the credit cards that they issue.

Open an account with a credit union and either apply for their cards or a small revolving loan.

Go to Orchard Bank, HSBC and Bank of America online and use their credit card selector to see what card you "may" be approved for.

The card selector does not pull a hard inquiry. But, if you apply for a card that is recommended, then it will pull a hard inq. Keep in mind that the card they recommend is not a guarantee that you will be approved.

You may have to get a secured card, but I know Bank of America will unsecure around 9 to 12 months, as long as you keep the card current.

Use the cards sparingly. For instance, buy a tank of gas or a hamburger etc, then stick the card in a drawer and don't look at it for 6 months or more. Then pay off the balance in full when you recieve the statement.

Then rinse (lol) and repeat.

Answer 2

Start off with a store credit card like the gap or something like that. Don not put a lot of inquires on your credit that will lower your score and make you look like a big risk to lenders. Pay your bill on time try to pay the entire thing monthly and apply for cc only like 2times per year, but do not get in over your head .Do not put out for more credit than what you can afford to pay back. Your credit score ranges anywhere from 300-850. Stay above 620 and your ok go below and you will be red flagged by companies , your cc interest rates will be extremly high and down payments will be high. Go to www.suzeorman.com

Answer 3

You can get a secure card, a card where you put down the amount of what your limit will be. You can go to the local bank, BofA, Citi Bank, Chase, American Express, Capital One Are probably the best. Just make sure you look at the fine print, look at the APR, Annual Dues, is there a processing fee and so on. I would highly suggest you pay it off each month..

Answer 4

Some people will get a personal loan, something small like 1-5k...then use the money to pay it off over time. Could always invest it in CDs so that you get the interest and then as each CD comes due, make a payment on the loan.

Answer 5

go to circuit city the have a credit card there for people with no credit it is provided by General Electric and after you get approved they will call you on the phone and tell you exactly what to do to build credit and not get behind.

Answer 6

Apply for a credit card. Put some money on it each month and then pay it off.... that will give you credit.

Answer 7

Here is a website to help you chose and compare credit cards.
http://www.bestcreditrates.net

Answer 8

start with 1 credit card with low apr something that has a low monthly payment and does not require you to pay a annual fee or deposit

Answer 9

join your local credit union...they will often extend credit after you have been a member for a couple of months

Answer 10

all credit card companies are on line..... just search credit and youll get a whole list.... you will probably have to deposit money yourself or pay a very high interest rate