Building credit?

i am a sophomore in college, and i dont have credit and i want to build it. i have applied for credit cards that say they are for people to build their credit, but i dont get approved because of limited credit history. i have even applied for just a normal gas card? how can i build my credit without having to have a co-signer, or where can i get approved for a credit card with no credit history?

I definitely feel your pain, especially because I have to make decisions everyday on whether to approve or deny people when they apply for credit cards. I would like to share a few tips with you that I would say to people that are starting out building credit.

1. Open a checking account- While opening the account doesn't directly build your credit, it does create a relationship between you and the bank by being an accountholder. Banks love to cater to their preferred customers that have accounts in great standing by offering loans and credit cards. Also, having a checking account not only helps manage your money, but it gives you the most powerful tool in building credit, a checking account to help pay your bills on time. Most banks and credit unions offer online banking with billpay that can make it easy for you to pay your bills on time, which is important in building credit.

2. Open a secured credit card- Secured credit cards are the easiest credit cards to get, mainly becuase a security deposit is placed upfront in order to establish a line of credit in the same amount. For example, if you deposit $250, your credit limit is $250, and so on. The deposit isn't used to pay for any of the purchsases on the card unless, it was charged off and sent to collections, so you would have to repay it just like a regular card either in full or minimum monthly payments. The deposit is sometimes linked to a savings account, so it earns interest while you're building credit, so the deposit isn't sitting there. You can think of this as building credit with a savings account. The more you deposit, the higher your limit, which is good for your score because it creates a cushion between the total debt you owe and the credit you have available. Also, by continuing to add to the deposit, you're also creating an emergency fund at the same time. A good way of using the card is by making small purchases ($20/month max) and paying on time every month while adding to the deposit. Usually after a year or so, the card either converts or upgrades to a regular card, and most importantly, the deposit is given back, which you can place in a savings account as an emergency fund.

3. Enroll with PRBC- PRBC is America's Alternative Credit Bureau, providing a helpful service to the over 50 million people with limited or no credit history. If you pay your monthly bills on time, PRBC can help you build credit to qualify for a mortgage and better interest rates.On-time payments for the following bills are not reported to the traditional credit bureaus:

Rent
Cable
Phone
Daycare
Insurance
Electric
Natural Gas
Cell Phone

The only time your payments for these bills are reported to the other credit bureaus is if they're missing or late.With PRBC, your on-time payments count. You build credit for paying your bills on time, even if you have no credit history. PRBC offers two simple ways to start building credit today.

These are just a few tips that I know will help you out.

I would start with a credit union. They have better rates for members, but you need to join first.

The next suggestion is below on the source list.

Why do you want to build up credit?

So you can go into debt for the rest of your life?

Try and get a credit card through capital one....they work with people with no credit history and or bad credit

Have you tried your bank yet .....I would think they would be happy to give you a credit card or go to one of those booths that have people who are looking to give out credit cards and want people to join and when you've attained one then buy things that are home furnishing or carry a big price tag but making sure you'll be able to pay back once you've used the credit card for it.

sorry, i'm going the other side of ur process.
visit daveramsey.com to learn ur hard lessons from others mistakes.
credit cards are 21st century slavery.
25% of 'college' grads are looking at bankrutcy in 1st five yrs because of credit.
u build on cash , u'll own ur life.

start off small like getting a mobile phone contract and maybe small items from radio rentals or somone like that. arranging a small overdraft with your bank will also boost your rating but dont ever go for a silly apr just because its all thats on offer. you will really pay in the end!!!! in my experince never get credit if you can help it!

part time job and save

Try Capital One. They are considered a higher risk creditor.

Citi also has student cards for newer users to the credit world.

Try your local bank also. They may not have student cards but they will have secured cards. This is the last way to build your credit. A secured card means that you put up collateral for a credit limit. If you give the bank (lets say $500), they will give you a credit card with a $500 credit limit. Once you build up your credit, they will refund your deposit.

Go to your local bank and apply for one of their secured credit cards. Ask them for help with building credit and to give you some guidelines.

Look for pre-paid credit card offers. Your limit is only what you deposit at first, but as you make payments on time they will raise your limit every 6 months or so.

I used these when I was younger. The best thing to do with them is not charge more than you can pay off in a month.... charge something and pay off the ENTIRE balance each month.

In about 6 months you'll start getting credit card offers in the mail.

do you have a bank account? If so your bank may be able to offer you a visa.

Try building a credit history by first applying for store credit cards - Sears, Target, etc. Once you have these they will show up on your credit report and if you pay on time your credit rating will grow.

apply for student credit cards chase and bank of america are really good ones

Smoovy feels your pain. haha

The only thing building credit does is gets you in debt.
You have to borrow money and make payments to get a high score. You have to keep borrowing money and keep making payments to keep a high score.
All you get is debt.

your score is based on nothing but debt.
How long you have been in debt.
How much debt you have.
what kinda of debt you have.
How often you make payments on debt.

It's actually a I love debt score.

Pay as you go. Live on less than you make and you will have money.

You don't need a fico score for a home loan. It's called manual underwriting. it's the way it was done before the fico score. It's not a sub prime loan. You can get the lowest interest rates going.

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