2006-09-17 04:22:29 · 13 answers · asked by nedoglover 4 in Business & Finance ➔ Credit
Start a savings account at a national bank...save up at least $1,000.00 then when you are old enough you can take out a secured loan against your savings. Pay it off in a year and then you are on your way. Always pay your bills on time and if you want to learn more about finance and credit then visit mycreditadvise.com to learn more.
Good Luck.
2006-09-17 07:31:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can get a credit card when you're 16. Just go to your bank and apply for a student credit card with a co-signer, such as a parent or guardian. The limit will probably be low, since it's your first credit card. Get a job. Make small purchases that you can pay in full by the time the monthly statement arrives. That's how you'll build credit fast. Never miss a payment or make a late payment and you'll do great.
2006-09-18 23:21:42 · answer #2 · answered by Shannon A 3 · 0⤊ 0⤋
Until you are 18 soooooooo many financial institutions have their hands tied on what they can help you with. My son wanted a checkbook at the age of 14 for he had his own lawn mowing service AND was already filing income taxes so the checkbook was the next step...We went to the bank and they basically said "many 40 year olds can't even handle a checkbook so why would they give one to a 14 year old?". My reply was " because I am his mom " and that solved that... 6 years later he has never even had an overdraft and they treat him like royalty. My suggestion to you is go to you local bank WITH mom or dad... see if they(the bank) will give you a small loan of $500 using all your info such as ss# but having a parent sign it as well... If they go with it, then in one months time go in and pay it off completely..Thus : CREDIT IS ESTABLISHED.
If no luck there then at age 18 a "secured" credit card works great for this....
It basically means you give the bank $1000 they then give you a credit card with a $1000 limit... you go shopping, and pay the credit card bill when it comes monthly like normal credit cards... The $1000 sits in the bank and does not get touched, that's where the title "secured" comes in.
(Do not do business with captial one or any bank associated with them) but thats a whole different story!!! TRUST ME !!
In a few months you have credit built up and you can ask for a higher line of credit. Aaaaaaaaaaah the credit cycle has now begun.... Good Luck and pay off your credit card debt EVERY month and life will be good !
2006-09-17 05:12:00 · answer #3 · answered by Kitty 6 · 0⤊ 1⤋
Get a job and start putting at least 1/4 of you salary per month in savings.Don't miss a single month.This will be like your payment on a car or a credit card.Keep your job, if u need to find another job find one first then give notice and quit.Make sure there isn't one month you haven't been working.By the time you are 18 you can qualify for a loan for a car. My son did this and he now owns a very nice truck, and just received another loan for college.He is only 19.Banks want to see that you have stuck with putting that money away every month.It shows you are responsible.Also when you turn 18 go to your bank and see if you can get a small credit card, No amount over 200. Use this card once a month on something you can afford to pay back at end of month.This also shows restraint on being a big spender.Good luck!
2006-09-17 04:37:41 · answer #4 · answered by Anonymous · 1⤊ 2⤋
do no longer take financial advice from her mothers and fathers please. they have no thought what in the worldwide they are speaking approximately. in spite of if this guy did a historic past and credit examine it would not help your credit or record. Why? because of the fact landlords do no longer record your month-to-month hire money. Paying hire isn't an extension of credit! the only time you may even see your landlord getting something placed on your credit record is that if he has to sue you because of the fact you broke the hire or did no longer pay hire. the only element you're construction with the aid of renting from him or any landlord is a condo historic previous so you might use once you progression. in case you pay hire on time and are a stable tenant, you ought to use that landlord as a connection with assist you get into the subsequent place.
2016-10-15 02:23:27 · answer #5 · answered by goodgion 4 · 0⤊ 0⤋
No company will give credit, willingly, to an underage person. The reason being, is the law protects them against creditors. If you default on an agreement, no court in the USA will rule against you. You can start when you become the legal age in your state, start small and build. Until then, you can only take on a cosigner, an adult of legal age. Sorry!
2006-09-17 04:31:53 · answer #6 · answered by Barbara 5 · 0⤊ 2⤋
It does not depend on the state like the guy says above me. You have to have a credit card, and that starts when you're 18.
2006-09-17 04:29:39 · answer #7 · answered by Wai 5 · 0⤊ 2⤋
You can't get a credit card, but you can open a checking account and get a debit card.
2006-09-17 16:09:32 · answer #8 · answered by Steve R 6 · 0⤊ 0⤋
18 yrs old with a credit card...Notice its one and not multiples, the more credit cards you own, the lower your score!
2006-09-17 04:30:25 · answer #9 · answered by vegasbrother99 3 · 0⤊ 1⤋
how is with a credit card when is at 18 years old
2006-09-17 04:25:09 · answer #10 · answered by monica h 2 · 0⤊ 2⤋