How can teens protect their credit before they have a credit card.?

Question

im a teen, i dont have a credit card, and i dont plan on getting one, except to establish credit so i can buy a car and such....i have a checking account that i keep up with....but what are some ways i can also protect my credit before i go out into the real world and start paying bills

Answer 1

Well u should protect your personal information shred everything thats says your name ssn address. But you shouldn't be worried because you dont have any credit history so no one would try to steal your identity and use it because the credit is not matured yet. People steal identity of employed and established people.

Answer 2

Wow, you sound like an unusual teen who's actually aware of the meaning of good credit and financial responsibility! There's nothing wrong with having a credit card as long as you pay off your bill every month before interest and fees kick in. That's very hard for most people, living within their means. But it sounds like you're well on your way to avoiding that common pitfall.

What you should worry about is identity theft. You could have someone running up lots of bills in your name without you ever knowing about it before major damage is done. You should get a free copy of your credit report from someplace like TransUnion or Experian (websearch their websites). That way, if someone is doing that, you will see evidence of credit cards you never ordered or used. Hopefully, that's not the case.

Otherwise, do establish your credit by taking out loans you know you can pay. A student loan can help, or a credit card with a very low limit that you always pay off. That way, when you want more money, lenders will be very glad to give it you and you'll qualify for the lowest interest rates, which is very important. Good luck and keep up the good work!

Answer 3

Protecting credit is easy. You are already doing it. Everyone starts off with a perfect credit rating. The only way to make it bad is to have a regular bill (like say a cellphone bill) and decide to not pay it, and never pay it.

Or to get a credit card one day, and to not to ever make a payment on it when a minimum monthly payment is required.

If you want to buy a car one day, it might be helpful to stay at the same job for 6 months, because a money lender may see that as you being more likely to stay at your current job.

If you have a full time job and have been at it for a year, it's really surprising, but you'd be able to borrow almost any amount you ask for, as long as you make enough money to make a monthly payment.

So. Keep paying bills on time. Even if you are 30 days overdue, it's not going to affect your credit. 90 days, yes. 30, no.

Answer 4

Protecting credit is different than building credit. If you want to build credit, continue to take care of your checking account. Apply for a gas card or credit card with small limits. Charge small amounts that you can pay off. Most young folks need help acquiring credit as they have none. Get Mom or Dad to apply for a card with you as a joint owner. You also have to be of age, most States is 18, but you can get some credit through school sponsored programs. What ever you do, do not charge or buy any more than you could pay off in one month. Never lend your cards and never give your passwords to anyone. Good luck.

Answer 5

Your credit rating is like your reputation. Pay your bills. Go to work, on time, and do a good job, and stay there instead of constantly quitting and getting new jobs. Drive safely and don't get tickets.

To get a car, you'll need to have had a job for over 6 months and have made payments somewhere. A lot of stores don't want to give you credit anymore unless you already have it. Go to a jewelry store, find something you HAVE enough money for TODAY, and get in on credit. As soon as you get the bill, pay it all off. Soon they'll be sending you junk mail trying to get a credit card. Join a credit union and see if they'll give you a credit card. If they do, buy something small and PAY IT OFF. Eventually, you'll be able to get a car loan with them. Make all the payments on time, and add a little, so you're paying more than you're supposed to. (They're charging you interest on the loan, but they can't charge for what you don't owe, so if you pay it off early you'll save a lot of money.)

Always pay your bills on time, but especially your housing bills. Banks,etc, figure if you aren't responsible enough to not risk losing your shelter that you aren't responsible enough to risk their money.

Answer 6

Okay, first off, you don't have any credit to protect. You need to start building some up by getting a credit card and more importantly not getting behind on the payments for it. There's a problem, though: Most card companies will not give you a credit card because, go figure, you don't have any credit. It's a horrible loophole and hard to break into. You'll need to find a card for a first time card user. I suggest asking your bank. If they don't have one, get a parent to co-sign on a card with you, and I suggest setting a limit. I've been dealing with this same problem but I've done a lot of research over it.

Answer 7

You can dispute anything that shows up on your credit report before you're 18. Until you get a credit card or a loan, there shouldn't be anything on your report unless you allow one of your bills to go delinquent.

Check your credit report for free at www.annualcreditreport.com and be very careful to do your research before you get that first credit card so that you don't get burned with fees or high interest rates.

And WAY TO GO!! You are way ahead of most of your peers in this area...

Answer 8

protect your social security number, never give it out over the phone, or to persons who don't need it, always feel free to ask why do you want my ss number, and if they don't have a good reason, don't tell. do not carry your ss card on you. never put it on the Internet...never. Get a yearly credit report, you can get them by contacting any of the major credit bureaus. If they reply that you are not in the system your safe. always shred offers for credit or credit cards don't just throw them in the trash, the same goes for bank statements or any paper your not sure of...don't have a shredder..they are cheap get one

Answer 9

You are VERY smart to start looking into this now. Unfortunately, identity thieves don't care who's SSN they get. In many cases, a child's credit is ruined by a parent or close acquaintance who used the child's SSN.

You can request your credit report and there are several ways to request a free report:

www.annualcreditreport.com

www.ftc.gov/credit

Call 877-322-8228

Answer 10

Do not give out your social security number to anyone on the Net.
Treat your social security number as your sacred secret.
Bank is already knew your ss#,
becareful with tthe phishing,
Use anti-virus, remove spywares on your computer often