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3 Bumps

Im 18. And i have been trying everything to get credit. I have applyed for credit cards, tried to take out loans, and get a cell phone. Someone told me to go to a furniture store and get something from there to just pay on, but im not sure I can even do that. Does anyone know anything else I can do to get a better credit score?

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trojanbabe2011

Asked by trojanbabe2011 at 5:24 PM on Oct. 20, 2010 in Money & Work

Level 2 (5 Credits)
Answers (10)
  • Get a prepaid credit card and use that for several months then try applying for a regular credit card again.
    missanc

    Answer by missanc at 5:29 PM on Oct. 20, 2010

  • You get good credit by having credit and paying on time, not a day after, this is what they look for when issuing good credit. Do you have a job? if you do you can apply for any credit card and they will start you off with a small available balance and see how that works, if you are good and pay on time they later on increase the amount. Good luck, but remember that plastic can also get you in a lot of trouble if do not have money to pay.........
    older

    Answer by older at 5:30 PM on Oct. 20, 2010

  • Keep trying to get a credit card. Go to store in the mall and aply for store card. We had the same problem when we first got married. We finally got a Sears card. We used that for like a year. Then a mastercad gave us a card. We payed off the Sears card and stared using that.
    louise2

    Answer by louise2 at 5:32 PM on Oct. 20, 2010

  • Get a prepaid credit card from your bank. You'll have to have it close to six months or longer before it starts to build good credit. Lets say you put 500 on it, never spend more than 200 and ALWAYS pay on time.
    I had to start that way at the beginning of the year and it has helped.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 5:32 PM on Oct. 20, 2010

  • Credit is tricky because to get credit, you have to HAVE credit. It's harder now to get started than it used to be. To get started, you need something that reports to the credit bureaus.

    I'd apply for a secured credit card with a LOW credit limit, say $200-300. Use that to do some minor purchases, even if it's just getting gas for your car. Pay it regularly and ON TIME (this is vital!) for about 6 months to 1 year. Whatever the limit is, do NOT carry a balance of more than 30% of the limit. (If your limit is $300 for ex, don't go over $100 on the card.) Credit agencies look for responsible use, consistent payment habits and available credit to determine your credit score.
    geminilove

    Answer by geminilove at 5:34 PM on Oct. 20, 2010

  • 2/2

    Once you've done this for 6 months, go to a website like quizzle.com and do a "soft pull" on your credit rating. If anything is inaccurate, contact the reporting agency to get it cleared (or at least disputed). If your score is still low, keep going for 6 months and check again.

    The hard part is getting started on the right foot and maintaining it. Good credit is easily lost and nearly impossible to recover fully.

    GOOD LUCK!
    geminilove

    Answer by geminilove at 5:34 PM on Oct. 20, 2010

  • The more you apply for things, the more you hurt your credit. Just a little FYI
    xxlilmomma09

    Answer by xxlilmomma09 at 5:41 PM on Oct. 20, 2010

  • Every time you apply for a card, you lower your credit score. Applying for multiple credit cards in a short period of time send up red flags of desperation. Are you working? Do you have a checking & savings account? You can apply for a small loan from your bank & pay it back on time each month. This is a good way to establish credit.
    motherofhope98

    Answer by motherofhope98 at 9:26 PM on Oct. 20, 2010

  • Here's a bump for you hun because I'm in the same boat. I've been applying for cards and stuff since I turned 18 three years ago. And you shouldn't apply for too many things in a short time period, because that does hurt your credit. I think I applied once every 6 months or so, and I've even tried getting store credit cards and the like. I haven't had any luck at all, yet my husband was able to get a credit car when he was 19, and he had no credit. I think it's really random, to be honest. When I find a new job, I'm going to try getting a small loan from the bank (I've had this suggested by a few people). One thing I heard from someone who had talked to a car dealer (a friend of their's) was to save about $1,000 as quickly as possible, or $1,500, then take out a loan for about $1,000. Pay off that with the money you saved, and continue doing that on and off for a year or so. Supposedly, that can build your credit, too.
    Mrs.BAT

    Answer by Mrs.BAT at 9:51 PM on Oct. 20, 2010

  • It's really tough, but if you don't have to get a credit card, then don't. We have not had credit cards for 12 years now and pay cash for everything. It is not true that you a "great credit score" or even really any credit score (mine and my husband's credit scores are both zero!!). We just bought a house a few months ago. We did need to use "alternative" credit to show that we can and do pay things on time - like cell phone, house phone, cable bill, electric bill, all that kind of stuff. You have to really look for places that realize that people who pay cash for everything really do know better how to manage their money than people who use credit cards all the time and only know how to make minimum payments !! There are car dealerships out there that do (mostly the kind that you "buy here, pay here". We are switching some of our household bills into my 19-yr-old daughters name so that she can build that type of credit
    JustMyOpinion22

    Answer by JustMyOpinion22 at 6:38 AM on Oct. 22, 2010

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