i am trying to build up some credit. i am a 19 year old student. any suggestions?

Question

interested in student credit cards

Answer 1

If you are going to get credit cards, get no more than two, and don't purchase anything on them that you wouldn't get without them. Do not build up a high balance, no matter what the credit limit is - nothing higher than you could suddenly pay off if you had to - and always, always, ALWAYS pay on time!

As an alternative to credit cards, have you considered taking out a small loan from your bank, and repaying that? It doesn't have to be FOR anything - just a few hundred dollars that you can put in savings, and pay from that account until the note is paid; the only thing you lose is a bit of money for the interest, but you gain a good credit rating. That way, you don't have the plastic in hand with its accompanying temptations.

Answer 2

Go to your local university and find the credit card booth. It's usually there year round, with someone selling student credit cards.

Open one of those cards, or alternatively look online for a student credit card. Perhaps at www.creditcards.com, they may have a section for students.

Once you open the card, make small charges each month, and pay it on time monthly. After a while, around six months, you can ask for a credit line increase.

Keep the card open and keep everything current and on-time. After a while you'll get offers for more credit cards with better terms. Eventually you can switch to one of those.

Remember to keep lines of credit open even if you don't use them that often to ensure the history stays with you.

Learn about credit and mortgage:

http://www.thetruthaboutmortgage.com

Answer 3

Yes, as you mentioned there are a plethora of student cc offers being thrown at you. I suggest applying for just 1. It will be around a limit of $500. Take the card and make 1 purchase per month. Pay off the minimum balance immediately. To avoid using it, keep it at home. If you continue to keep the account open with no late payments, your credit should be great by the time you want to buy a home or a car.

Answer 4

Get a credit card and a savings account.

They have student cards out there, but it isn't really all that hard to get a credit card, but you'll need a bank account.

Oh, don't use the card and if you do, pay off the ENTIRE BALANCE IMMEDIATELY. Save for things you want to buy, rather than buying and then paying with a credit card.

Answer 5

here are some tips

1. Always pay on time or ahead of time.
2. maintain low balances on credit cards
3. keep your total potential debt to earnings load low - If you have a card with a $15000 credit line, you may ask them to reduce it to something more realistic, like $5000.
4. I was told by an underwriter that having just two cards, a major credit card (VISA, MC) and a consumer card (Sears, best buy, etc...) is the best mix for revolving credit.
5. You should have a recent history of both installment or term (Car or house loans) and revolving credit.
if you need to find a creditcard thats right for u go here
http://www.bestcreditrates.net

Answer 6

Where do you bank? You can probably get a student credit card through them with a starting limit usually between 500-1000$ Just be careful to always pay off your bill COMPLETELY and on time. I also suggest you look up the Wiki on credit cards so you know what you're doing. http://en.wikipedia.org/wiki/Credit_card

Answer 7

Believe me when I say this, it is NOT important to build up your credit, at 19.

That is as important as learning how to drink or smoke.

On second hand, less important.

When you are 22, or 35, you will get all the credit you need, even if you don't borrow between now and then.

Answer 8

Try getting a credit card with a small limit. Use it, then pay it off. Don't run it up until it is enormous and you have a bill you can't pay. Just use it a little and pay it off. Over a period of time, this will help you if you do it right.

Answer 9

Well if you do get credit cards do not borrow and money unless you have money in the bank to pay off your debt when you make the transaction. Credit will come with time it takes dicipline and self control and with a credit card you are likely to spend more money than if you dind't have one. I recommend you to listen to Dave Ramsey he has a free podcast service you can download and it gives really good advise in dealing with money.

Answer 10

Get a gas card, and make sure you pay it off right away. Or have someone co-sign with you on a store credit card. That's what I just did.