B
[email protected]
Guest
I'm 17 years 11 months old. My parents have horrible credit. I don't want to have bad credit like them so I am wondering if there are any minor steps i can take to begin to build a credit score.
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How do i build credit as a 17 year old?
- Thread starter [email protected]
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D
Dave N
Guest
It's great that you're starting to think about this now! When I was 18 and went to college, I applied and got an American Airlines rewards credit card. I'm not sure if you need to be 18 to get your own card; however, having credit for a long time helps your credit score. I'm 29 now and my Trans Union score is 804. It would be higher but, believe it or not, I'm told I don't have a long enough credit history!
Suffice to say, I would also establish utility bills in your name (i.e. phone, cable, wireless, gas, electric). I believe this will help as well - just make sure to pay your bills on time.
Suffice to say, I would also establish utility bills in your name (i.e. phone, cable, wireless, gas, electric). I believe this will help as well - just make sure to pay your bills on time.
B
beancounter
Guest
Save $100-500 and apply for a secured credit card. Never charge more than 1/3 of your credit line. Pay your bill in full monthly.
Since you don't have any black marks yet on your credit record, that'll build up your score very quickly.
Since you don't have any black marks yet on your credit record, that'll build up your score very quickly.
J
Judy
Guest
Open a checking account.
Some banks allow 17 year olds to open student checking accounts.
You have to call around and ask.
At 18 get a credit card.
But as you know the secret to top 800+ scores is to use it for things you need and pay it in full each month. Carrying balances destroys credit.
Save up for what you want.
An aggressive goal would be to save for a car in cash so that you don't have to finance.
Try not to finance anything in life except a house.
Utility bills do not show up on your credit report, neither does renting furniture or cell phone contracts.
Only if you don't pay do they report.
/
Some banks allow 17 year olds to open student checking accounts.
You have to call around and ask.
At 18 get a credit card.
But as you know the secret to top 800+ scores is to use it for things you need and pay it in full each month. Carrying balances destroys credit.
Save up for what you want.
An aggressive goal would be to save for a car in cash so that you don't have to finance.
Try not to finance anything in life except a house.
Utility bills do not show up on your credit report, neither does renting furniture or cell phone contracts.
Only if you don't pay do they report.
/