subject: How to start building credit??? [print this page] home and Autohome and Auto. So please be careful. And if you cannot afford a certain brand of vehicle don't get it, keep your payments at a reasonable level, under 250. Good luck. Pay your bills, and pass your classes.
Getting a credit card is one way to do it if you think you have the discipline not to go into a lot of debt. If you need something like a dryer or washer you can open an account with Sears or J.C.Penny or even Home Depot or Lowes. Usually their credit accounts are ...pay within one year and there is no interest charged. That would be the best way to go. Anytime you pay monthly on something it shows up on your credit. Start slow. Don't buy but one large item at a time. Pay it off before you get something else. Even tho you have 12 months to pay for it try to double up so you get it done quickly. Then get something else.
This is how we did all our married life. We never had much debt and slowly bought everything we would ever need.
As long as you make your monthly payments on time your score will build up. Also see if your parents would add you on as as authorize user for like an american express, household credit card, or any one of those top notch credit cards. Dont use the card just get the same credit and point your parents get and over time your credit will build up.Also take 300.00 to the bank an open up a savings account and ask the bank to let you do a signature loan. Remember you must leave the money in the bank as collateral. Have them set it up for as least 6 months. Over a period of time your score will build. One more thing When you do get yopur credit cards manke sure you keep your balance low. Example if your limit is 300.00 always have 225.00 available credit. Always keep revolving accounts low as possible.
The answer to your final question is: yes, it will build your credit. That's how everyone builds credit. Making your monthly payments on time is more important than your income, though if you want to buy a car that will matter too. It does take a long time, but if you pay your bills on time always you will build credit. I started with a JC Penney card when I was about 22. Then I got a Sears card. This enabled me to get a Visa, and now, years later, I've got tons of credit. Have faith and pay those bills!
