I want to start building my credit.
2006-10-10 19:00:38 · 16 answers · asked by Jenny 2 in Business & Finance ➔ Credit
And by the way I live in Atlanta, GA so I dont need any info from Cali, or any other state. And for all you saying that I need to be 18, that's wrong you can be 17 and have someone co-sign for it. Lol, I guess I just answered my own question..unless, there's something else that I don't know..feel free..
2006-10-10 19:14:12 · update #1
Yes, it's true that you can not get a card until you are 18......UNLESS you get your parents to co-sign.
I also strongly recommend that teens get a card, and begin to establish a credit rating. Here's why...
By the time I was 24, I had a good job. I bought my car brand new in cash. I bought everything with cash, and never had a credit card. When I was ready to buy a home, I had over $25k in the bank and was ready to drop $15k as a down payment.
I got turned down! Why? No credit history!
So to all you dummies out there who constantly poo-poo teens with credit cards, you are idiots!
But also remember that having a credit card has it's dangers. Too many teens find themselves getting deep into debt, and actually ruin their credit. So if you get a card, follow these rules or you will be in big trouble.
Keep your credit limit to $200. Unless you have a very good job (not likely at 16).
NEVER buy anything that you can't pay off at the end of the month.
NEVER use it for cash advances. The interest rate is terrible.
Avoid impulse shopping. If you see something you really like, go back the next day. Many times after sleeping on it, you realize that those pink stripe shorts look better on someone else and not you.
Budget!
2006-10-11 09:02:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can apply but I doubt you will be granted a credit card. Most companies require you be at least 18 years of age or older.
A credit card is not the only way to begin to establish credit worthiness. You could do so by working with a local bank and your parents as co-signers.
2006-10-10 19:12:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes it is. You will be able to build your credit in due course.There will always be ways to get a credit card as these companies are always looking for new customers. Having a credit card is like having a friend who lends you money when ever you want. He just demands payment back at the end of the month or you get charged extra.
2006-10-10 19:17:43 · answer #3 · answered by quantumview 5 · 0⤊ 0⤋
I believe so, b/c of the binding contract thing explained by the others. But if you're wanting one to build credit rather than "oh my gosh i have to have that skirt it is like so hot...hey look i'll put it on my card it's not like i have to pay for it..."then i suggest getting your parents to help you get a gas card. It'll build credit and you cant realy go crazy with it...unless you use it to "hook up your friends".
2006-10-10 23:47:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I think you have to be older than that to get a credit card....credit cards are good if you are resposible, and have a decent job...cause it takes a while to build up your credit, and takes a minute to get into trouble with them. Example: losing that job, how do you make the payments?...why don't you get a part time after school/weekends job, and start a savings account that will draw interest....Your parents can assign a card from their account to yours, with a minimum balance I think, and that will aquire a spending/paying history that when your of legal age to get one of your own, that history will be considered to approve you or not...
2006-10-10 19:13:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you shouldn't get an exact mastercard till you have been 18, yet you will get pre-loaded money enjoying cards for you to use of their stead. a number of those can fee as much as $a million,000 and are a great replace for credit enjoying cards as they don't incur debt.
2016-11-27 20:52:15 · answer #6 · answered by ? 4 · 0⤊ 0⤋
If you are able to get away with it.. go ahead, but you are supposed to be 18 in order to get approved w/o a parents co-signature. I would wait if I were you... Credit cards are a hassle.
2006-10-10 19:09:20 · answer #7 · answered by amber 3 · 0⤊ 1⤋
you can't get one till 18. unless you have an adult on the card with you
2006-10-10 19:08:22 · answer #8 · answered by Katrina 5 · 0⤊ 0⤋
have to be 18 to be legally bound to a contract in most states.
You can enter a contract if the company is willing, but if you default, they can't enforce the contract in court.
2006-10-10 19:06:10 · answer #9 · answered by deepseaofblankets 5 · 0⤊ 0⤋
yes...!!!
i'm 16 years old girl
and i know,
in this age,we will too consumed to have a credit card..!!!
it can make your family's bill so big..!!!
2006-10-10 19:19:22 · answer #10 · answered by maryamok_haris 2 · 0⤊ 0⤋