18 years old, NO CREDIT, need to build credit.... where to begin?

Question

I just recently turned 18 years old. I'm looking to start building my credit.. I had decided to get one credit card with decent rates and keep it paid for a while, and eventually build it up like that. I must eventually get an auto loan, however that's not an issue at the moment.

My problem is, I cannot be approved for ANY cards I am applying for, even from Capital One of all places (which was my last resort). I have NOTHING on my credit history whatsoever at this point.

I am employed, and have been for a little over 6 months.

I was going to start off with a department store credit card, however they all appear to require a driver's license, which I don't have.

Any suggestions, other than "don't get one"?

Answer 1

Several ways to start building credit. have an open bank account, cell phone in your name, or utilities. Also if you do have a bank you can ask them if they offer a secured credit card. Thats where you open an account and deposit a certain amount of money, and your credit line will be determined on the amount you deposit.They will hold this amount in the account untill you have proven a payment history.

Answer 2

when getting a credit card to build credit your first card will have high interest and annual fees plus you will not get approved by the bigger credit card companies because they are not willing to take the risk. but there are other companies that will help you get started my suggestion is get one of this credit cards and once you have stablish credit for about 6-9 months apply for a better credit card and drop the first one you got, check out www.fastcreditcardapprovals.com and go under poor or no credit they will give you different choices, good luck

Answer 3

It is important to build credit in American society starting at a very young age. The reason that it is increasingly important to build credit is because of the standard developmental stages American adolescents and young adults go through. After leaving home, a majority of American children go on to college. In order to be able to afford the expensive items (like textbooks) and the fun activities (like Spring break trips), it is sometimes credit are to always make payment early or on time, to make sure to always stay within your given credit limit, and to avoid applying for numerous credit cards. Regular monitoring of your credit report is also important because, once you build credit, you don’t want it destroyed by computer errors or, worse yet, identity theft.

Answer 4

get a driver's license

it is a credit tracking tool to make sure you pay

then get the department store card - and ONLY
charge what you can pay off by the due date
-then get ZERO interest

like my Citibank card - 21% - and they have yet to get a dime of interest

have a great 2008

Answer 5

do no longer attempt to plot while to flow out, while time comes, you would be attentive to it. first situation you are able to desire to do is to get a credit card of a few style. do no longer confuse this with debit card, in simple terms with the aid of fact it has a VISA or credit card kind on it does no longer advise that's a credit card. My first card grew to become into with Capital One and it grew to become into the form, you are able to attempt to stick to for it. i grew to become into in a place to get it 2 years in the past without credit history. yet odds are against you, get a secured credit card (in simple terms flow into your branch and ask approximately it) out of your financial enterprise or credit union if achieveable and use that for a 12 months. Then attempt to stick to for an unsecured card. probably a student card like the Citi forward or stumble on, you ought to even have the skill to get a Chase Freedom. the main extreme situation to keep in mind while development credit is that it takes time, and a great style of time. that's not something you are able to rush. in simple terms shop paying off your costs in complete and on time.

Answer 6

you can try get a secured credit card from a bank. i know wells fargo offers one. i think you need to pay some deposit to get one. but when your credit is good enough, they'll return you the deposit.

Answer 7

If you've not already done so, open a checking or savings account too.