Do I need a credit card to get credit or how is it done?

Answer 1

You generate a "credit score" by many different factors.

You generate score when you open an account where promise to pay someone for borrowing from them.

Your score fluctuates based on your ability to pay how much you have borrowed how long ago you borrowed and for how long you will borrow.

Take a look at http://www.myfico.com/ they have some great info

Answer 2

No you need to buy / rent something that requires making payments. If the business reports to the credit unions and if you keep the payments current you will have a good credit score. It takes at least 13 months to establish a reliable credit history. It also takes at least that same amount of time to work off bad credit.

Answer 3

If you're getting a credit card for the first time try and apply for a department store one first. They'll most likely give you a small credit limit at first, but that's okay. Then, once you have that one for a few months you can apply for major ones like Discover, Visa, or MasterCard. That's how I worked my way up getting credit back in college.
The main thing is pay off your bill ON TIME. You'll build good credit like that which will help you throughout your life.

Answer 4

When you apply for a credit card or a loan, the bank looks at your credit score, which includes information on your bank accounts, rent or mortgage payments, previous loans or credit cards, utility bill payments, and other financial information.

High bank balances and prompt payments make for high credit scores, late payments and overdrafts make for low credit scores.

So even if you don't already have a card, you probably have a credit score. And can at least apply for a card. When you get one, shop wisely and pay the card off in full every month.

Answer 5

yeah you do