I’m only 17 going on to 18 in a few months i have never had a credit card and don’t know much about ways to build good credit of course family and friends always give advice but at the same time have horrible credit themselves by following the guidelines they give me… so if you got any advice please let me know ???
I’m 18 and I just applied for a student credit card, my plan is to buy one thing that is around $25 a month (eating with girlfriend or something) and pay it off. This will start your payment history and will start building that credit.
yea that what i was thinking 2… but i figure it will be a while until ur credits good enough
gici,
well you want to build personal as well as business credit.
if you’re going to consider getting into real estate investing - you’d better take a look at BUSINESS overall.
get a personal CC, goto your bank and ask about what they recommend as far as building credit. ask about opening a business account in the near future - 1 - 2 years and ask how you could start building both personal and business credit ASAP.
that’s a good strategy.
learn learn learn.
i appreciate it
You’ll usually get better rates at your local bank for a credit card/secured line backed by a deposit.
Are you currently working? Most students /ppl get into trouble by living off the credit card. Credit is a tool, not an extension of your wallet.
When you get a card, don’t charge more than 25% of the limit. The moment your bill arrives, write a check for the bill, and mail it the next morning. Each month, your credit card bill is going to hit your FICO.
Rather than entertaining, use it for gas, education, or something tangible. If you want to take someone to lunch, take an REI to lunch. Use the credit line for business cards, marketing material etc. Have your girlfriend make dinner at home. i.e. don’t develop the habit of frivolous spending. Spend with a purpose, spend well under your limit.
great advice thanks
buy people gas and make them give the money to buy it off!! ;D
Impressive at your age to even think about this. Getting a secured card from a bank is the best step. It’s the best way to get your foot in the door. Watch your limit, never go past 40% of your credit line. Your on the right track and good luck