2007-06-16 05:58:25 · 6 answers · asked by deewise23 2 in Business & Finance ➔ Credit
bank account, open ONE credit card, pay that off in full, each month, etc. it'll slowly build up.
2007-06-16 06:04:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You can "piggyback" on someone else's credit. What my parents did was request additional authorized user cards for me on their credit card accounts when I was 16. Of course, I never used them. I didn't even know about them until I was 18. They cut the actual cards up, and they were the ones who used the accounts and paid them off. I just got the benefit of having that recorded on my credit report. You might ask relatives with good credit to do something like that for you.
You can also build your own good credit as well. I did this, too. After I graduated HS, I opened a secured credit card with a $500 deposit, and that was my gasoline card. I only bought gas with it and I paid it off every month. (About $100/ month). After one year, I stopped using it (it was fully paid off, just didn't use it). I got another card, unsecured this time and did the same thing. Don't ever cancel cards you don't use, though. Just pay them off and only use them once a year or so.
It really takes time and effort to build good credit, but it's so worth it. By age 23 when I graduated college, I had good enough credit to start my own business. I plunked down my business plan and $5000.00 of my own hard earned cash and was graned a business loan for $275,000.00
2007-06-16 06:15:10 · answer #2 · answered by Schoolhouse Preschool 1 · 0⤊ 0⤋
Get a credit card, but dont pay the payment off in full, just little by little. Pay over the minimum but less that the maximum, and you will slowly build your credit.
2007-06-16 06:06:45 · answer #3 · answered by atls f 1 · 0⤊ 0⤋
Get a card with a small limit - no more than about $500. (This way if you max it, it won't kill you to pay it off.) Then use it regularly for small expenses - like gas for your car or something like that, and keep it paid current. As long as you keep the account current - meaning pay it on time, every time - and keep any balance on it fairly low, you will build credit.
2007-06-16 08:09:11 · answer #4 · answered by zippythejessi 7 · 0⤊ 0⤋
Read this article on how to build credit from scratch! It covers all the bases.
2007-06-16 12:36:32 · answer #5 · answered by Anonymous · 0⤊ 1⤋
go to a local department store and rrequest a card. They will give you a small limit. then make regular payments. don't run up the bill.
2007-06-16 06:12:50 · answer #6 · answered by zocko 5 · 0⤊ 0⤋