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Hey i was wondering how the hell can i build my credit. This is seeming impossible. I tried to get a car loan,, Denied.. lack of credit? Tried to get a credit card, lack of credit.

I tried to get a GAS card. i get this.

- Your credit bureau report shows you have no revolving accounts with a balance.

This is frustrating, im trying to build credit, but no one will give me any <img src="i/expressions/face-icon-small-sad.gif"border=0> What is the best way to do it. I'd take a 100$ limit on a card to start off, i dont need the extra money, just to start building credit.

What is a good way to go about this, and any recommended cards? Im looking for one with no more than 14.9% apr, no fees. The limit dosnt matter, maximum 500 id say. Like i said i dont need/want the money i just want to build credit.

I just feel if i cant get teh Shell Gas card, what the hell am i supposed to do if i cant get a card that lets me buy 20 bucks of gas <img src="i/expressions/face-icon-small-sad.gif"border=0>

thanks
bjamm

You can apply for one of those Visa or Mastercards where you deposit money with them and that amount is your limit. From there the best results come about when you pay each month's balance in full.... therefore, it doesn't matter how much interest they charge.

I was in the same boat as your 3 years old. Don't worry, you can certainly get a credit card. Believe it or not, credit card companies like to give credits to college students because of their future earning potential and current spending "power"(appetite). There should be some booths (on and around campus) set up by credit card companies giving out freebies for students who sign up for their credit card. I didn't even have a social security number when I was first signed up for a citibank credit card and they gave me $500 credit. Since then, they regularly raise my credit limit. Just make sure you make every single payments on time. If you are a busy hard-working student, look for credit card companies that offer online bill pay; that way, you can easily make payments online.

The way I started out was to get a credit card from my bank, with who I had checking/savings acnnts. U'r bank shood give u one(maybe with a low limit)--after 6 months-1 year u can apply to the "good" ones

My first card was Montgomery Ward (bankrupt) followed by JC Penney (almost bankrupt). After a few months of paying on time I was approved for a bank card with Wells Fargo. AMEX likes college students but it is a charge card and not a credit card.

my secured credit card never showed up on my credit reports.

thanks, i'll try with my bank first, i bank through wells fargo and bank one. Ive had my bank account with wells fargo for over a year so hopefully they wont give me any problems.

Like i said im not concerned with any low limits, 300 or 500 limit is fine with me, not looking to make any big purchases, but will be some nice protection when ordering online, as visa check cards dont have online protection, if its been charged, the company that charged it has to refund it <img src="i/expressions/face-icon-small-sad.gif"border=0>

i'll give it a try tomorrow at wells fargo, would it be better to go to the local branch or possible to request one online?
thanks
bjamm

I agree with Caldude. Aren't there solicitors all over your campus? When I was an undergraduate there were people who were falling all over themselves to give student cards to people with no credit history - all you needed was a driver's license and you could get a card with a $500-$1000 limit.

visa checkcards do have fraud protection. hence the visa logo.

CalDude said:

<< There should be some booths (on and around campus) set up by credit card companies giving out freebies for students who sign up for their credit card. I didn't even have a social security number when I was first signed up for a citibank credit card and they gave me $500 credit. Since then, they regularly raise my credit limit. Just make sure you make every single payments on time. >>



Exactly what I did! Hell, I just asked Citibank to lower my limit, 'cause it was up to 9k from $500 initially.

jerseyjohn said:

<< AMEX likes college students but it is a charge card and not a credit card. >>



blue for students is a charge card? i don't think so...

Bank of America approved me when I had no credit history, and I only had a bank account with them for 2 months.
Citi has some decent offers for students.
You could try a student Discoveralso.

bjamm, apply at the local branch.

You can apply for most of the student credit cards online too, you might want to consider that. I applied for a student CitiBank card online a week after I turned 18.

first card i was able to get was a check card at the bank and a discover card right around age 18. After a few months, I got a blue for students.. a year later, an actual Blue card. It shouldn't take too much time. there are websites online for student credit cards. Its very easy if you apply for the right ones. Even after 4 years of never missing a payment, I still cant get the "good" cards, like AMEX gold (with best value guarantee), so i use my moms. Which is another thing you can do. Be a co-cardholder on someone elses account. I believe that shows up on your credit report as well, but double check on that.

Aside from credit cards, if you want to help establish great credit quickly, another thing you can do (as strange as this may sound) is take a loan from whatever bank you use. This can be for a nominal amount, $500-$1000. Take the money (don't spend it) and pay off the loan with the money you borrowed over the next 6-12 months depending on if you are in a hurry or not. The downside to this: you will pay some interest on the loan for the next 6+ months. The positive: you have now established yourself as a reliable person when it comes to loan payments (installment debt, not revolving debt). While you defenitely want to have a credit card for revolving credit, having both types of credit on your report will do a lot more for you in the future. This is something a few of my friends did years ago and it really helped them establish credit early and well. Just a thought.

Pennys card. Buy something online from them to build credit.

i got my first credit card over a year ago when i was 17 because my mom basically backed it. Meaning if i didn't make payments they would go after my parents. See if your parents can do the same. You still build some credit and its easier to get a credit card that way. I started off with a $1000 limit.



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