How do i build credit?

Question

i just turned 18 in july and i guess in alabama you cant get a bank account, a credit card, or go under any kind of contract until you are 19... im lucky enough to live in a "college" town and they let me get a checking/savings account at regions... i tried EVERY cellphone company to see if i could go under contract and, the answer was no and they tried to sell me on some prepaid plans... how do i build my credit?

Answer 1

Buy  some  things  that  you  can  do  monthly  payment  

  even  if  it's  little  amount   like  TV ,PC   etc,   or   something  that you  can  put   down  payment  and  with  little  monthly  payment  and  that  should  start  building  your  credit....it  will  show  that  you  are  responsible  with  your  $$$$$

Answer 2

Credit is a house preferably build with bricks. It has to be built brick by brick. No prefab construction here. It takes time and patience. Start slow and steady. First by paying bills on time and in full. If at all possible pay early. If you have cable access I highly recommend watching the Dave Ramsey show on the Fox business channel. Watch it religiously. Even if you're not in debt, his principles will keep you from falling into debt traps if followed.

http://en.wikipedia.org/wiki/Dave_Ramsey

http://www.cashmoneylife.com/2008/02/25/...

Answer 3

apply 4 it  

Answer 4

The only way to build credit is to borrow money and make payments on time. The only way to keep a high credit score is to keep borrowing money and keep making payments on time. All it will bring you is debt.

All it is good for is getting into debt with.

If you pay as you go. If you live on less money than you make. You will have money and not have to worship at alter of the almighty fico score.

Answer 5

the best way most of build credit is through a credit card. Its true you won't be approved for many cards you apply for thats y you have to find the right card from the following site. See in the section for people with no credit. Also be sure to read some very useful articles on there.  

Answer 6

I found a huge list of Alabama credit card resources. http://www.howtofindcreditcard.com/Alaba... Try calling a nearby company and they can answer your questions.

Answer 7

Hi! the best, fast way to build a credit is getting a Secured Credit Card which means, you go to your bank and deposit any amount ( I will start with 200 doll) and ask to get a secured credit card. They"ll issue a Credit card that has a deposit on it (your 200) you use it as a regular credit card and PAY IN FULL for about a year paid on time, after about 12-18 months depend on your bank they will refund your deposit money and increase the limit on you credit card, after that period you can leave a SMALL balance on it because having you credit card to full is bad for you credit as well having no balance at all is bad, so by the end of the first year you will already have a small credit build and then be carefullyl,, DON'T APPLY for everything you get in the mail. Every inquirer deduct point for you credit. You credit to be in good standingshould  a MAXIMUM of 2 inquieres per year.

Hope this helps.

Answer 8

Get a credit card.  Once a month, get something that costs $5 or $10 on it and make sure you pay the bill off on time.  Only use the card for this purpose and when you are not doing this, give it to someone responsible that you trust, like a parent, to hold on to it so you don't splurge on it.  That way you can build your credit, but don't have to worry about racking up a lot of debt.

Answer 9

Credit card debt is a real serious problem.  I would be very careful about going for a credit card consolidation loan as the temptation is to keep using your credit cards after you have the loan.

I would strongly recommend getting rid of all your credit cards completely and not to get any more.  Then look at a credit card consolidation loan or pay them off a bit at a time.

I've found credit card companies are usually reasonable and if you contact them and explain you are having difficulties you can get them to freeze interest and accept a fixed amount every month to repay the loan.