Anonymous
Anonymous asked in Business & FinanceCredit · 5 months ago

should i get a credit card after receiving my first paycheck? i wanna start building my credit but is that too soon?

im 20 and a college student. but it’s summer right now. i started my job a couple weeks ago.

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  • 5 months ago
    Favorite Answer

    No. Graduate first, find a steady job, get on a budget and master budget discipline first. Then you can worry about getting a credit card if you so choose. Way too many people your age get in a hurry to "build credit" and end up building BAD credit.

    • 5 months agoReport

      :/ well i do graduate in May 2020 so that’s not too far. thanks ill think about it.

  • 5 months ago

    six other ways are how to make late...world,s not too worth that, your college? Had not any need t`that.

  • 5 months ago

    Wait until you are 21. Get some more experience handling and managing money. Start by establishing a banking relationship with a bank or credit union. [I WANT TO ... not the college failure "I wanna"]

    • SumDude
      Lv 7
      5 months agoReport

      Good luck getting a job with typos on your resume. Employers want self-disciplined employees.

  • 5 months ago

    No. You should not try to get your first credit card when you are 20. Most credit card companies automatically everyone under 21, and a record of having tried now could stop you from being able to get one when you turn 21.

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  • 5 months ago

    Most banks offer credit cards specifically for college students. They have low limits and are designed for kids to start building credit and being able to charge things. The key is that you can't think of it as extra money. If you don't pay off your balance, you'll be paying high interest and eventually having credit issues. Only you can decide whether or not you are ready for that responsibility.

  • 5 months ago

    Never to soon but its not clear if you'll get approved to get a credit card. Still very little problem in applying. Don't use it much and pay it off every month. If you can't do that then you shouldn't have it.

  • audrey
    Lv 7
    5 months ago

    Start with a secured card as soon as you have $300. Use it for things like gas and socks at Walmart. Pay every single payment in full on or preferably before the due date. If you do this religously, in a few months you should be able to get your first real credit card.

  • Stoo
    Lv 7
    5 months ago

    Get a secured card - then you don't have to worry about spending money you don't have, and you'll get it for sure.

    • 5 months agoReport

      what about a student credit card?

  • Marduk
    Lv 7
    5 months ago

    HO! HO! HO! Yes, credit card companies will be beating a path to your door!

  • DON W
    Lv 7
    5 months ago

    It's likely too soon to be approved, particularly if it's just a summer job. The bank will look for a steady employment history.

    • DON W
      Lv 7
      5 months agoReport

      I've never heard a firm figure--it would vary by bank.

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