Anonymous
Anonymous asked in Business & FinanceCredit · 1 decade ago

how can i start getting credit if im 19 !! please help !?

9 Answers

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  • 1 decade ago
    Favorite Answer

    get a target or sears card and only use it for stuff that you KNOW you can pay off the very next bill.. and then pay it off right away! do that and you'll build up you're credit, but believe me.. it's very easy think ooh just this time i'll spend more than i can pay off and pay it next month.. but then it adds up and it is so hard to pay it off. be careful! and really don't get one if you dont really need it!!!

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  • 1 decade ago

    First off, DO NOT APPLY FOR EVERY STORE CARD. Open a "secured visa card" at a local credit union or local bank. Basically you put up $500 as collateral, and the bank gives you a $500 credit line. That way if you default the bank will recoup their money. They almost always approve these type of loans. But keep your balances low. People with good credit don't flaunt their cards around for show, they use it when necessary, not for Christmas shopping. They pay their entire balances monthly. Then, in a year, try to increase the limit, or get an unsecured visa card. Monitor your credit at http://www.equifax.com/

    If you are a PayPal member, you get free alerts that tell you if there has been significant changes to your credit.

    The key is, keep your balances low, never go over your limit, make more than the minimum payments, and keep your debt to income ratio below 25%.

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  • D S
    Lv 4
    1 decade ago

    Before you start worring about credit cards, get a job. Next open up a saving account. If your job has a credit union you can apply for a credit card. You can set it up so they will deduct the payments from your account. You can also pay additional amount toward your outstanding debit balance.

    My son was a checker helper at a store that had a credit union. He requested that $100 per month went into his savings account. After six months he received a credit card from the bank where his saving account was deposit.

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  • Anonymous
    1 decade ago

    gab, my best advise to you is this. Get a Secured Credit Card. You put whatever limit you want on the card, kinda like a gift card. It helps your credit tremendously. Dont go with visa, mc diners clube american express, excetra. The intrest alone will kill you. Ive just recently gotten out of debt from which I was in cause I bought a credit card whan I was your age. I went crazy with the card. And came time for the end of the month collectors were knocking at my door.

    Source(s): out of debt finally :)
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  • 1 decade ago

    Firstly have a sound debt management practice. That is you save some money on a regular basis and keep doing this. Then you can apply for a small personal loan and make repayments plus one each second month. This way you will soon build good credit and have savings.

    Source(s): http://psychic-aus.com/finance Debt management strategies
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  • 1 decade ago

    If your a student get a student credit card like from wells fargo or capital one with a low credit limit of $300.

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  • 1 decade ago

    Try applying for store cards like Walmart or Sears, they are usually the easiest to get. When I had bad credit I got a secured Visa where you pay a couple hundred dollars and they put it in a bank in case you don't pay. Go to bankrate.com for a list of secured cards.

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  • 1 decade ago

    the best thing to go in any department store and buy some appliances on credit.

    Give them 50% of the purchase price and they will give you credit right away.There is a lot of things.

    Please ask me any question,

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  • 1 decade ago

    Don't do it! Pay cash or by check. Don't start getting into debt until you're at least 21. :)

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