What is the best way to build up good credit? im only 17 but i want to be prepared later.?

Question

What is the best way to build up good credit? im only 17 but i want to be prepared later.?

Answer 1

i have just turned 18 and i have done it. you need to be 18 to get anything. we just got a credit card that doesnt have any fees unless you buy things on it. so we dont use it ever. and we have an instant credit rating!

Answer 2

just make sure you pay your bills. ive heard that you can build credit by having a C.D. at a bank.

Answer 3

When you are 18, apply for a credit card. Any credit card, but watch for inflated interest rates and short billing cycles.

Stay AWAY from any and all Discover Cards!

Use the card once...maybe twice for a low-cost purchase. Pay your bill ON TIME and IN FULL.

Wait about 2 months... do it again. Do not fail to pay your balance.

Its the best way to built a credit rating.

Don't make the mistake of thinking credit can get you anything you want.

All that will do is get you grief.

Answer 4

Make sure that you not only pay your bills and credit cards, but pay them on time.

Don't let your balance get in the negative.

Answer 5

get a part time job... and if your planning on going to uni pay it off as you go.

Answer 6

Good credit rating doesnt start at scratch, people actually need to start borrowing money from banks (like your typical credit card) then work your way up to loans, mortgages etc etc, you also need to constantly keep paying regularly without much past due or late.

Certain financial involved places can check how good is your rating on how much you have been using paying etc etc, and if they see you as a reliable payer then you have bigger chances of getting good loans.

Answer 7

Just take credit and pay it in time, and your credit score will be set. To avoid common mistake while buiding credit, I recommend this one - http://freecreditreport.hotusa.org - to monitor changes in you score and pre-estimate future scores for different scenarios of payments.

Answer 8

Do your parents have good credit? I f so here is what they can do, you can be added to any of your parents credit card accts. of course you aren't given a credit card, you are only 17, now they are building good credit for you as well as themselves. It's the best gift a parent can give because it is very difficult out there for young people who have no credit history. I would urge all parents to look into this.