I want to start building credit...how do I do that?

Question

I want to start building up my credit. The thing is I don't have any. I'm 19, what is the best way for me to do that without the use of credit cards?

Answer 1

Sears gave me a credit card when I was 18 with no prior credt history. I think it had a $300 limit.

Once you get a card, use it. Keep a balance on it. Pay more than the minimum payment, but don't pay it off for about a year.

Answer 2

Some banks will let you open an account where you put some money in and they will give you "overdraft protection". Get it and use it but pay the overdraft off immediately.

Do that for a few months and they will flood you with "pre-approved" credit card offers. Do the same thing. Run a little balance and pay it off very promptly.

Soon after that you'll be getting all sorts of credit solicitations.

Answer 3

I would suggest getting a personal loan. You need to show payment history with someone who reports to the credit bureaus. I got a credit card with a limit of 500 and used it on occasion and just paid it off quickly. That boosted my credit score unbelievably. Then I was able to get a loan which brought it back up like you wouldn't belive.

Answer 4

Go to the Bank and Apply for a loan...any amount will do, then pay it back on-time each month...you will have to pay some extra back but it the fastest way to build up your credit

Answer 5

If you save your money for the things you want and need (including cars) and live within your means, you'll never need to use credit.

Answer 6

Perhaps you can apply for a line of credit or a small loan.

Answer 7

jen g she will need credit to buy a house iin the future......u need credit for everything even a cell phone