Building Credit with a Credit Card.....

[Orpheus]

Re: Building Credit with a Credit Card.....

Let that be a lesson to you all, use the frickin search engine from now on and do your bit for Greenpeace. :D

[Pyaari124]

Re: Building Credit with a Credit Card.....

@Lusi

Pyaari, it doesn't matter who pays the bill as far as some one is paying them regularly. I won't suggest you going for those no name student credit card companies, never heard any good stories from them. I would also suggest you what rocky and chips have said. I had one of those account. It was a $1000.00 acoount and you pay a small amount every month for like 12 months and if you pay regularly almost after 6-7 months you should get pre-approved credit card offers. Make sure you don't accept anyother credit card, just the reliable names. Normally CapitalOne is a good one to start with.

wat is it that ur suggesting? A loan or the secured credit card????

[Lusi]

Re: Building Credit with a Credit Card.....

Well it is just a type of bank account that helps you build credit history and then you will get credit card offers. If you are too desperate to get one then ask one of your parents to add you on one of their credit card account. It will give you a credit card and help built your credit.

[Pyaari124]

Re: Building Credit with a Credit Card.....

no i am not desperate....i am asking what the acct's name is that ur telling me abt....like if i go to the bank I have to tell them what I want and i need to know the name of it...so thats why i was asking u.

[Lusi]

Re: Building Credit with a Credit Card.....

Pyaari, I think it is called the line of credit account. Maybe someone else over here would know exactly what it is called.

If you tell the banker the description of the account, they will know what you are talking about.

[Kaka_MaNNa]

Re: Building Credit with a Credit Card.....

SECURED credit card is the best way to build credit. Someone already explained what it is, just get one put few hundred in it and buy something like $20 worth every month and PAY if off as soon as the bill comes and then do it again next month and so on... this is the quick and easy way to do it. Don't go on shopping spree or something which you may not be able to pay back immediately.

[Pyaari124]

Re: Building Credit with a Credit Card.....

can I apply for a secured credit card with any bank???

[Femme_Fatale]

Re: Building Credit with a Credit Card.....

Don;t know if anyone has said this before but I think ur best bet would be to ask one of your parents to co-sign with you or add you on as an authorised user. once u have a built your credit on such a joint account you can go off on your own.

Someone recommended that u get utility bills switched to your name. Utility payments are not reported to credit bureaus so they don;t really help in building a credit history.