I need credit, but i don't know were to start?

Answer 1

When you first trying to establish credit is hard. But by educating yourself as to what credit is you can better understand how to establish it.

Most lenders look for a couple of factors when lending.

How is the person using their credit? Do you have negative trade lines? Do you owe money? Do you have to many revolving credit lines? Have they paid on time? How long have they had credit?

I do not recommend credit cards to people for establishing credit. It will get something on your credit report but doesn't really show a lender how you handle credit.
Try for a saving secured installment loan. It shows lenders that you can be trusted to pay over time. After a while try a credit card, but try to stay away from store cards. They have huge fee's and high APR's.

There are a million little things that are helpfull to know. but not a lot of time to read it all.
I would recommend these two places to read up on credit.

Bankrate.com and Yahoo Finance under Banking & Credit. I send customers there all the time.

Answer 2

Start small, probably with a store credit card. Charge something on it, nothing big and pay it off when you get the bill. Build up credit that way and DON'T ABUSE THE CREDIT. Then when you feel that you have had enough experience with that, apply for a non-store credit card, MasterCard, Visa, etc. When you receive it, spend wisely with it, paying it off when you get the bill. Do your best NOT to carry over balances. That's how things get out of hand. Make it a rule that if you can't pay the bill off by the end of the month, don't buy the item.

Answer 3

When most people say "I need credit", they really mean "I need money". Think about that. Do you realize the long-term cost of borrowing money? If people started planning for their financial future in high school, instead of in their thirties, maybe the world would be a better place.

You question is way too vague. How much? What for? How do you plan on paying back? What is your income? What are your liabilities? Have you tried the big banks? Small banks? Credit unions? Relative/friends? VC's? Angel investors? Community organizations? What is your credit rating? Credit history? Are your credit cards in good shape? etc, etc. If you can't answer these questions, maybe you are not ready for credit.

Answer 4

Start out by applying for a major credit card such as visa mastercard. Store accounts really do not help your credit score. Try orchardbank.com they offer credit cards to people with no or bad credit. Apply for a couple of cards at the same time this way it will show you were shopping for credit. If you wait to be declined for one card before applying for another it will look like you are just constantly applying for credit and that will hurt your score. Worst case scenerio, you might have to get a secured credit card. This credit requires a security deposit usually the amount of credit that is extended to you

Answer 5

I would suggest applying for a Discover card. They used to really market toward college students and young people. Be very cautious about what you charge on it and ALWAYS PAY IT OFF!!! People really get into debt with credit cards so I would suggest only buying things like gas on it and paying it off every month. A friend of mine has a check register (that's the thing in your checkbook that you use to balance your checkbook) anyway she has one that she uses to keep track of her credit card spendings so that she will be sure to keep enough money in the bank to pay it off every month.

Answer 6

Anywhere you see a credit card application, fill it out and send it in. Eventually you will get credit.

Answer 7

The best place to start credit are with department stores or retail store. Such as Target & JCPenny.