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Credit Card Applications » FAQs » Other Questions » Hello, I am trying to establish credit. I am an employeed 18 year old male and do not have abank...

Hello, I am trying to establish credit. I am an employeed 18 year old male and do not have abank account at this time. What can I do to try and build my credit?

Date: December 27, 2006, 6:12 am
You should first of all establish a bank account - savings or checking one, so that this account could serve as collateral for a secured credit card - the only credit card available for you, as you have no credit history. You can also get a credit card of some store, it will also help you to increase your credit score. the main rule for you should be paying on time and in more than minimum payments, never commiting delinquencies. If you earn enogh, you can apply for several more credit cards, after paying off your secured one, so that your score will gradually increase. But avoid overdoing with credit cards, as it can cause bankruptcy, as you won't be able to pay so much for credits.
All credit cards terms, fees and rates mentioned in this article/post are actual on the posting date. See the current products’ Terms & Conditions on the issuing banks' websites.
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