2007-02-22 10:16:43 · 6 answers · asked by iwearshoes 2 in Business & Finance ➔ Credit
If you're a student, apply for a student credit card, they are easier to get than a regular card.
If you aren't a student, get a secured card, which requires you to put down a security deposit, which you'll get back as long as you are good with your account.
Every time you apply for a new credit card, your score drops by about 5 points. If you apply at too many places, it can actually hurt you quite a bit.
2007-02-22 10:24:57 · answer #1 · answered by E A 1 · 1⤊ 1⤋
You are asking the WRONG question. You only need a credit history if you plan on being in debt for every significant purchase you ever make. You DO NOT need credit cards to get a home loan. That is a lie told by banks & idiots. If you are really concerned about your long-term financial success, listen to Dave Ramsey's radio show (archived on his website, too) or get a copy of one of his books. DH & I follow his plan. It has been a godsend. We look forward to owing no one money & therefore having a ZERO credit score! If you start follow his plan NOW (before you get in a hole), you will probably be a millionaire by the time you're 40 or 50, if you have even a decent career plan/income. Our adopted son is 17 & already following Dave's plan. He works hard & budgets every dollar. This year he is even funding a Roth IRA. (insert Proud Mommy Moment here) :)
2007-02-22 10:25:30 · answer #2 · answered by Tom's Mom 4 · 1⤊ 1⤋
Building a good credit can be done in various ways. If you are fed up of the collectors tirelessly chasing you to pay your debts or if you are disappointed at your loan application being turned down, because of absence of credit history, you should learn how to do build your credit. The most important thing to remember is not to buy unnecessary items. Do not convert your ‘want’ into ‘need’, as it can drag you deeper in debt. If you are looking to build credit and do not have any history, set your priorities properly.
2007-02-22 23:33:50 · answer #3 · answered by hendy h 2 · 0⤊ 1⤋
Get a secured credit card. You deposit say $500 and you get a credit card for $500.
You still get a statement and pay off your card but is will show on your credit report to start building credit.
2007-02-22 10:23:47 · answer #4 · answered by Tim P 2 · 2⤊ 1⤋
Simple things like taking out a small loan from a local bank can help tremendously. Just be completely sure that you don't ever miss a payment, and you don't collect any extra interest - this can cripple your credit rating early in your life.
2007-02-22 10:20:15 · answer #5 · answered by illinibub 2 · 1⤊ 1⤋
Be patience. try citibank, chase, discover, capital one, sears, jc penny. Keep trying even if they don't approve. each time you apply, different people review your application, one of them bound to approve you.
2007-02-22 10:24:06 · answer #6 · answered by Brownie-Girl 3 · 0⤊ 2⤋