how can i build credit at 17?
dedeeded asked:
im 17 and want to build credit i have a checking account but that does nothing but save money.I did what my friend told me and applyed for a secured credit card but on the application put that i was 18 if i pay my bill on time will this make my credit better even know they have the wrong birth year
secured credit application
im 17 and want to build credit i have a checking account but that does nothing but save money.I did what my friend told me and applyed for a secured credit card but on the application put that i was 18 if i pay my bill on time will this make my credit better even know they have the wrong birth year
secured credit application
Tags: Birth Year, Checking Account, Secured Card
October 18th, 2009 at 3:36 am
secured credit application
If your parents put you as an authorized user on their credit card it will be on your credit report as well. It takes a lot of time to built credit one year will not make much of a difference at all. Your credit will only start showing positive effect after about 5 years or so
October 20th, 2009 at 7:12 pm
secured credit application
Cellular phone companies report bill paying to your credit bureau. Get a cell phone account in your name. For one.
Get an American Express charge card in your name.
Secured credit card is equally good.
However, never lie on any application you sign your name too.
October 23rd, 2009 at 8:43 am
secured credit application
If you can open a card legally,start with something small like a Macy’s or JC Penny card,charge something small,pay it off over 4-5 months and that will establish your credit history.Always pay your bills on time no matter what,even if you have to not eat,pay your bills on time.You will get offers and then you should try for a card with the bank your checking acct. is with..People with no late payments will live a happy life,people who don’t pay on time will always struggle.Having credit is good,but having debt sucks…good luck.
October 26th, 2009 at 7:16 pm
secured credit application
If you have a cell phone pay for your own cell phone. If not go buy one a cheap one at that. Get a savings account to save some money. Use 2 banks and have 2 savings accounts. (1 savings acct per bank) Take a cd from bank A place in Savings B. Take a cd from bank B place in savings A. That would be 2 lines of credit through 2 banks.
October 29th, 2009 at 8:39 am
secured credit application
You can use a bank for this. It’s pretty easy. Start with just a small signature loan for $500. Pay that off in about half the time alloted. Then, do the same thing again with $1000. When the credit card companies see that you have paid off two or three small loans within the time you were supposed to, they will see you as someone they can trust with a credit card. You may have to have one of your parents co-sign for the first loan just to get you started.
Keep in mind that you doing the right things are what is going to help your credit. You act stupid with credit and you’ll really pay later on.
October 29th, 2009 at 12:29 pm
secured credit application
Actually, you are on the correct path. Build your positive long term relationship with your bank. Once you save up one thousand dollars you can use it to ask for a secured loan for that amount with your savings as collateral. Make the payments for 6 months then pay the loan off. You have just built credit history and your relationship with your bank. Then you can apply for a credit card with your bank…and so on.