E B
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You don't need a secured credit card to establish credit, or one that requires you pay anything up front. Just get a retail store credit card (Sears, Best Buy, clothing stores) to help estabilsh credit. Use it and pay the balance each month. Keep it for a while and then try to apply for a normal visa or mastercard through Capital One. You just need to get something established first. The secured cards can be a rip off. |
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sexyleilani
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no, you must be 18. But credit is so important. Learn about it first, then when your 18 you can decide. This is a big decision that will either make or ruin your life. |
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dougzinboston
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You can obtain a card with a parent or legal guardian. They can sign for the card and request one in your name. |
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russellmania8523
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Under the law you must be 18 years old to own any kind of credit card, debit card, checking account, savings account, cell phone account, and to take out loans. The only way you might be able to get a credit card is if your mom and dad co-sign for you. Even then it might not affect your credit card because when they co-sign for you, the credit check is ran under their name not yours. When you are 18 you may find it hard to get a credit card until your 20 because you have no credit card history. I tried for 2 years before I finally got one. Here is something else you might want to know, if you have a cell phone or checking account, it does in no way build up your credit history, so its an unimportant factor. It only can count against you if you don't pay your sell phone, or overdrawn your account and don't pay the bank. Good luck when you become 18. |
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michels2
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Skip the secured cards and unneeded loans. Get a low limit card and get a cosigner. Get a limit of say $200 and keep at least that is saving to pay the bill. charge $20-$50 a month for a year paying in full monthly.and you should be able to take the cosigner off and increase the limit. To drop the cosigner you will have to be 18 by then. |
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MIKEL
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THE ONLY WAY TO BUILD CREDIT UNDER THE AGE OF 18 IS TO HAVE YOUR PARENTS PUT YOUR NAME ON SOMETHING OF THEIRS. IE PHONE BILL, CELL PHONE, GAS AND ELECTRIC...
MY PARENTS HAD THERE GAS AND ELECTRIC IN MY NAME AND MY CREDIT WAS PERFECT WHEN I TURNED 18.
NOBODY WILL GIVE SOME BODY UNDER THE AGE OF 18 A LOAN OR CREDIT CARD...
IT IS THE LAW |
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gtofinancial.tomvoli
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No. It is not required that you are 18 if you have a parent cosign.
Here is some additional info. Hope this helps. |
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E-Rock
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Credit can be established at anypoint... although you cannot legally assume responsibilty for a debt before you are 18... what does that mean?!?!?!
Well, if your folks add you on to one of their cards as a "co-applicant" the credit card payment history will also be reported to your own credit file... now, assuming that your folks are good with their bills this will not only help build your credit history, but will hep you to obtain future credit. Also, this does not mean that they need to give you a card to use, it simply means that the activity on the card will mirror onto your own credit file.
A co-applicant is different than an authorized signer. co-ap ties you to the card on the responsibility end. Authorized signer means that you can use the card.
Same can be done for wireless accounts, and other services... as long as they list you as a co-applicant you can begin to build your credit history.
Best of luck and Hope that helps... |
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soccermomw3
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Secured credit cards are bad business. Avoid them if at all possible. It looks bad to other creditors.
Start small, like a store credit card or a really reputable credit card company like Capital One. Call the card company and explain to them that you are looking to start credit. They will only be too happy to tell you which card to sign up for. They love to sink their claws in fresh meat!
You cannot get credit until you are 18. It's the law. No one can enter into a legal and binding contract with anyone not of the legal age of 18 or older.
Be careful! |
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epelham54
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There are some great programs I just bought that can help with this. you can find them at www.comingbackstrongfinancially.com
I have even bought the programs for my daughter who just went through a bankruptcy. I highly recommend them. |
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bradys_mommy
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You could probably go to your local bank (maybe one your parents bank at) and apply for a $500 or $1000 loan and have your parents co-sign if needed or put up yoiur vehicle as collateral if you have one. Then make sure to pay on time each time. This will help build your credit and won't cost you very much to do so. Someone under 18 is not legally bound in a contract and so you will probably have to have someone co-sign for you. This is why people under 18 cannot get credit cards. Good luck! |
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pppbrm
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I, being 17, was told to take out a loan.
I was told to take out a $500(or whatever amount, I think higher is better) and stick it in a SDB(Safty Deposit Box) and just pay the interest on it. Everytime you pay the interest, it goes towards you credit. It shouldn't cost too much if you have a job. |
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kurticus1024
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dangerous questions, dangerous answers
not here in public |
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