Do I have any credit if I am 20 years old?

Question

i was asked this for job but I don't think i have any credit

I have one credit card but dont use it

Will I not get hired if I dont have credit?

Answer 1

They are probably looking to make sure that you are a person that can handle your personal finances in a  professional manner. Not using your credit card will not turn up any red flags. Is this a position where you will be handling money in some form or fashion? I believe you probably have nothing to worry about. However many companies now ask for your credit report and or crdeit score to get an idea of what risk factor may be in hireing one as an employee. You can go to www.freeannualcreditreport.com and check your credit once a year at no charge. This will let you know what a prospective employer might see.

Answer 2

If you have a credit card, you have credit

Answer 3

Tim is correct.  As long as you have a credit card you have established credit.  It would be of benefit for you to use it (not it use you) a couple of times per year.  However, you MUST pay the charges in full and on time when the bill arrives which is the key to building credit and obtaining a higher credit score.  The employer is looking for a financially responsible young adult. Perhaps, you will be handling the company's money.

Also of significant benefit to your credit score is to take out a car or personnel loan (shop around for the lowest interest rate) and pay if off early (example a 1 year loan paid off in 10 months or 6 month loan in 4 months) before the age of 21.  This will show financial responsibility at a young age and it will increase your credit score points.  If you can do this, it will remain on your credit report for life.  It will be most beneficial when the time comes for a mortgage and other important purchases in your life.  

Good luck with your job search!

Answer 4

Some jobs do look at credit, especially in the financial industry. However, I think a lack of credit would be okay. Bad credit might cause a problem.

If you have a credit card, you probably have credit. If you don't carry a balance or pay it off quickly, your credit should be in a good spot.  

If you're curious, you should check your credit online - it's free to do.  

Answer 5

Typically a company is only looking for issues within your credit report, not that you have or don't have credit.  

Edit

Your report will show if you are a person of integrity.  You payback what you borrow.  

You don't have financial problems that will hinder you from your job or take advantage of the company.

Answer 6

Yes you have credit with a credit card.  Some employers want to know if you have GOOD credit and may check your credit score,

Answer 7

I have never heard of a job that asked about a credit score. If you only have one credit card and don't use it, it is possible that you don't have enough history to project a score.

Your job should not be concerned about it

Answer 8

Hi there,

The difficulty with credit card debt is that it can take so long to pay it off that you just get almost bored and spend again. Most people find it hard to live within their means and not get further into debt or back into debt.

I can recommend starting to buy everything with cash - I'm telling you, when you see those bills going through your fingers you will really cut back on your spending! It's far too easy to spend money you don't have with a credit card.

You have to get rid of your credit card debt. Either get a consolidation loan or consolidate your cards to ones with zero or low rates of interest. Once you have done this you MUST get rid of your old cards - cut them up and destroy them otherwise you will be tempted to spend on them again and get into even more serious problems.

You really can get out of credit card debt but it is going to require some discipline and self control and maybe even a five year plan, but once you are out of debt you will feel a new found sense of freedom!

Hope that helps, but please let me know if you need any more info :)