How can i start up my credit? I am only 17 but im about to be 18 in January, What can i do for good credit?

January 17, 2012

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Question by ChEeZo!!!: How can i start up my credit? I am only 17 but im about to be 18 in January, What can i do for good credit?
Exactly how and what should i or can i do to start off my credit and how can i get good credit?

Best answer:

Answer by Brad4peace
Talk to the people person to person at the bank of your choice. They can give you ideas and leaflets.
Go to search on “How to get good credit.”

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Tags: About, credit., good, January, Only, start

4 Responses to How can i start up my credit? I am only 17 but im about to be 18 in January, What can i do for good credit?

crzsrfr on January 17, 2012 at 1:23 am

The easiest way to start is to get a credit card from your bank of choice and use it to buy things you need anyways, then pay off your balance at the end of the month. Make sure not to over extend yourself and have the money to cover whatever you buy (losing control of this concept is how your credit goes down the toilet). Bigger ticket items like vehicles and property are your next step (when you are finacially ready). These affect your credit well when you pay off your loans. The most important thing to remember is not to get in over your head and be sure and make your payments on time!

John R on January 17, 2012 at 2:22 am

Do you work?

I started at this website; http://realcreditrepair.biz
There are articles and reference materials that can answer your questions.

JR

Chris C on January 17, 2012 at 2:30 am

Here’s the best way to establish a credit history:

1) Establish a checking and savings account: Lenders see bank accounts as a sign of stability. Make a regular transfer from your checking to your savings on every payday and leave the money there….this shows you can handle a regular payment, plus you are saving up some cash that can be used as collateral on a debt.

2) Do you have any monthly bills that you can establish in your name? Do you have a cell phone that is in your parents name that you can perhaps switch to yours jointly? Paying bills on time shows that you can handle making payments on a regular basis and you are responsible in that manor.

3) Use someone elses good credit to improve your own: Set up a joint debt with a parent or someone with good credit. That way you get approved and then work your butt off to pay it off as soon as possible. This will help boost your credit rating as well.

4) Apply got a credit card: IT’s the simpliest form of credit to get. If you can’t get a regular credit card, ask for a secured credit card. A secured credit card is where you give them $ 500 for a deposit and they give you a $ 500 limit on your card to make sure they get paid. After you’ve shown that you can handle the debt request a regular card and get your deposit back. A secured card witll help give you a credit score as well. USe your credit card on a regular basis, whether you need to or not, just make sure you pay it off before the interest kicks in. Every once in a while rack it up all the way and pay if off all the way within the month (never spend more than your monthly paycheck is…you’ll never catch up!

5) Get a store credit card: Again, very easy to get.

6) after you’ve used your credit card for a little while, try to get the smallest loan possible, like a $ 3000 loan or something, where it will have monthly payments. Pay it off faster than the scheduled payments, but not right away in one big lump sum.

hello555 on January 17, 2012 at 2:40 am

Depends what your future plans are. If you are going to college. If you plan on just working or if you plan to start your own biz. If you are going to college I would get a secured card for $ 500-1000(try to stay away from student cards it is an interest trap) you pay they give you a card with that amount and you build slowly. If you are going to start a biz you need to build very fast. If you are going out into the real world go to the bank open an account and tell them you would like to apply for a credit card. Before you apply at the bank, since you don’t have a credit profile yet, apply to any card online, they will decline most likely unless it is for new credit. But for perposes of your info being on file so when you apply at bank. The reason I say at the bank for the credit card is down the road if you start a relationship you will know them and they will know you. Then later you can get a car loan from your bank or home loan.For all information on credit system build,repair etc.

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