How to establish good credit early...or wait?
603279
Consider this....\n\nThe huge portion of your credit score relates to the lengh of credit history.  If you were to get a credit card at 18, by the time you are 23 and ready to get a car, you will have established a very good credit score (assuming you used the card wisely and didn't make late payments).  \n\nMany people get denied a loan simply because they have no history at all.  \n\nGet a card with a low credit limit, use it to pay for thing you normally pay cash for, but BE SURE to pay the bill off!
126822
Get one that makes you pay in full every month (like American Express.) And use it only if you can pay it off every month. Otherwise it is a black hole that will suck your financial house dry. You absolutely must set limits for yourself. People get in $30,000 to $100,000  without even noticing. And don't fall for the transfer for 0% scheme. The first time you are 1 day late the rates go to the maximum (over 25%).When you buy on credit you pay more for what you are buying. Why pay more?\nTo establish good credit have no more than 2 credit accounts, never ever be late with a payment, and pay off as soon as possible (not the minimum payment--you'll be a slave to it for the rest of your life). If you do that it makes sense to have credit so you have a good credit rating for big purchases like a car or house that you cannot pay in cash. But the less you spend on credit the more you have to spend without all the interest--or better yet, talk to a financial counsellor or just save in an interest free retirement or investment account. No matter what your age.
504014
the fastest way is to ask a trusted friend or family with good credit to add you as an authorized user on one of his/her accounts. This will add years of credit on your report. Example..your mom has an account with sears that she has paid on time for 3 years..by adding you as an authorized user your credit report will show you have had an account with sears for 3 years also. If that doesnt work try getting an secured card and pay it on time and keep your balances low for 6 months..then wham!!
643642
Get a secured one. That is one where you have to make a deposit into a special account and then as you use and pay the card you re-establish your credit. It is a lot safer than getting one with a really high interest rate(19-29%) that I might add is compounded daily. Also for good reference, it is better to pay it all off as you charge rather than carrying the balance forward that's how they make all their money on you only paying the minimum due.\nGood luck with improving your credit rating.
333654
you can't get a loan. With little or no credit you'll have to work on your credit first. Working is a way. Don't apply for too many cards, store credit cards, credit cards such as visa.  If your cool with your parents, maybe have them co-sign or have them put you on one of their cards to help with your credit. But it takes up to 2 years to establish good credit. Trust me I know.!! : )
1052309
Try Chase. Or capital one. They both gave me credit cards when I had no credit. Then just use them and pay more than the minimum payment (or pay all of it) and it will help establish your credit. You may also think about asking your financial institution. They may have ways to help you as well.
227176
try a department store card, or try something like rentway, with a department store credit card you can purchase something small every month and pay the full balance everymonth. by the time 3 months or so passes, once your credit is ran for a "credit Card" you should have an excellent paying history.  my younger sister was having a hard time too, she opened up a JC Penny card account and bought small things every month and paid the balance in full everymonth. 5 months later she got a mastercard.
154347
depending on if you start paying your bills on time (electric, phone etc.) in about 6 months you'll be able to get a credit card... very high interest rate. Be sure you pay your bill on time. Within 3 years you'll start to be able to get the interest rates down. Within 7 years you should be able to buy a house with decent interest rate.
931012
My credit is of perfect condition. How did I get it this way? Simple. I only bought things I needed/saved up for and as soon as my Visa statement arrived in the mail I would write out a check, in full of the balance, and then mailed it out the very next day. I also had a $3500 car loan that has been paid off with no late payments.\n\nYou can always join a credit union and apply for a Visa. However, the more accounts you have open will negatively affect your credit score. Late payments on accounts, old unresolved accounts, over-limit amounts, bankruptcy, ect. will also negatively affect the score.
905631
Ask your Bank to give a Bank Guarantee for the average or maximum amount due from you at a time. Thereafter, ensure that every payment goes to the company in correct time...neither too early nor one hour late. This builds up a FINE CREDIT HISTORY FOR YOU/YOUR FIRM.  you WILL BE ON YOUR WAY TO THE GOLDEN PATH OF ASSURED CREDIT FOR ALL YOUR BUSINESS DEALS.  PLEASE DO NOT DO THIS AS A TRICK. DO IT AS AN ARTICLE OF GOOD FAITH AND PART OF YOUR CHARACTER!
654212
If you have bad or poor credits and want to re-establish your credit, these are the special cards for you such as USA Gold Shopping Card, USA Gold Optimum, or Orchard Bank MasterCard. Since you credit history is bad or poor, you will be only given a small credit line. And you might have to pay a higher interest rate than that of regular credit cards. But if you are determined to get your credit back to good standing, apply for one of those credit cards and always make the minimum monthly payment, or even better - pay off the balance every month. Your credit lender will be willing to low the interest rate and increase your credit line gradually. \n\nIf you still can't get approved for these special credit cards for bad credit, try pre-paid credit cards - These Prepaid Card does not extend you credit. Instead, accounts are prepaid for a specific amount and accounts are only good for the balance you have loaded/applied. They work pretty much like a debit card but entitle you to some benefits of a credit card.
978354
Your credit score won't be affected unless you make late payments.  You're okay.\n\nGood Luck!
1137677
Get a co-signer with a good credit score. If that isn't possible use a company like American Finance or something equal to that, they are usually loan only businesses and not banks. Most of them make their money from 3rd party loans like when your local furniture stores says "No money down no payments until 2007" it is done through these little loan only businesses. Your interest rate may be close to 20% but you are more likely to get a loan if you can prove your income and their requirements on credit scores are much lower. Another long term alternative is to take out a small loan with a bank, not use the money and pay it back over 2 or 3 payments (months). Yet another option is to join a local credit union; credit unions give loans easier and if you have a co-signer who belongs to the same credit union there shouldn't be a problem. Remember most credit unions do not report anything to the Credit Companies unless you default or stop paying so being in good standing with your local credit union won't help your credit score. You can also offer to have the payments directly taken from your paycheck... this is sometimes very helpful if you have been at the same job over a long period.
628442
It all depends on how bad the bad credit is and how old it is. If its very recent, you'll have to wait for some time, perhaps an year. As it gets older, it becomes less significant, especially if you have even one credit account that is current. If you do not, your best option is to open a small limit secured card perhaps from Capital One. I recommend them because they charge no fees. Use it for $20 a month and pay it off when you get the bill. Each month you pay them, your credit rating will be improving.\n\nP.S. You have a beautiful baby. I wish you best of luck!
640064
This is one of the most common questions on this board.\n\nHow do I build/establish credit?\n\nFirst off you need to be educated about how credit works in the U.S.  Every credit decision a lender makes is driven by FICO credit scores. You can go to www.myfico.com and look in the Credit Education section to learn how FICO credit scores are determined. To build your credit you have to place positive credit items on your file that will report positively for 6-12 months minimum. If you want your credit to be in the Excellent category (FICO score 750+) then your goal should be to have 3-6 revolving accounts(dept. store, gas cards, Visa. etc.) WITH NEAR ZERO BALANCES and 1-2 installment loans(car, mortgage) that are reporting positively.\n\nI would start out with a Bank of America or Wells Fargo secured Visa card. Both banks have great programs with low annual fees, low starting amounts ($300.00) and no junk fees. After 12 months of positive on time payments you will graduate to an unsecured status. Then you will probably be approved for other cards such as dept. store and gas cards.\n\nGood Luck
63521
Actually, you are already on your way. Simply being aware of the importance of good credit - and then making a plan to maintain your credit is a big step. \n\nThe first thing you need to do is get a recent copy of your credit report. Go to one of the major credit bureaus (www.equifax.com, www.transunion.com, or www.experian.com) and buy a report WITH scores. If you've recently been turned down for credit you can request one (in writing) from each of the bureaus for free. You goal is to get your score above 700. If you have any loans - you must get those current. Do this BEFORE you pay any accounts in collections (if you have those). You'll also want to get up to three credit cards with balances of at least $300. Use the cards once per month to buy something small - and if you need to, give the cards to your parents so you won't spend on them. Keep a very small balance (not zero) on the cards. \n\nDo this and you'll be in great shape within 12 months.\n\nBe well.
829381
Here are a couple of things you can do to raise your credit score quickly. \n\n1) Have a relative with great credit add you to their credit card account. This can raise your score over 100 points instantly, and has not risk to them! Even though your relative can add your name to their credit card account, they don't have risk if they don't give you a credit card.\n\n2) Use your credit cards for monthly purchase, then pay balance down to zero every month. If you have the cash, this is a very quick way to raise your credit score. Remember, creditors cannot "see" your income from the credit report, but they can tell you have financial strength when you pay down your card balances every month. This technique can raise your credit score up to 80 points.\n\n3) Use time. Most people don't realize that a bad credit item has the most weight only in the first two months, then hurts your score even less after 6 months, and even less after 2 years. After 2 years, many bad credit items don't even hurt at all. I know a friend with 6 chargeoffs that are 4-6 years old and her credit score is 620, good enough to buy a house. Sometimes waiting even a month or two for a bad item to age is all you need for your credit score to bounce back. \n\nIt doesn't mean you are a bad person when you have a lower credit score. Bad things just happen. Good luck with your credit score!