OK all you finance GURUS....my step son is almost 19 and has NO credit. I know when I was his age, the local department store or Sears was a good one to start with, they were easy approvals....a small $300 credit like is what they gave you and in no time you were up up up. HE needs to establish some sort of credit. He is also a 1099 employee....he works for our business. Any suggestions to help get him started? Thanks for reading this far
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delzy
Senior Member - 3K
posted: Apr. 14, 2008 @ 4:26p
Tell him to get a real job.
Squeezer99
Addicted Member
posted: Apr. 14, 2008 @ 4:27p
why does he need credit?
Artsyblnd
New Member
posted: Apr. 14, 2008 @ 4:29p
WOW...I though some intelligence lived here.....obviously not!
demingy
Senior Member
posted: Apr. 14, 2008 @ 4:30p
Artsyblnd said:OK all you finance GURUS....my step son is almost 19 and has NO credit. I know when I was his age, the local department store or Sears was a good one to start with, they were easy approvals....a small $300 credit like is what they gave you and in no time you were up up up. HE needs to establish some sort of credit. He is also a 1099 employee....he works for our business. Any suggestions to help get him started? Thanks for reading this far
I'm confused - it looks like you already have your answer (department store cards work), why hasn't he tried that or why didn't it work?
Artsyblnd
New Member
posted: Apr. 14, 2008 @ 4:31p
He would like to get an auto loan even if he needs a cosigner...you do need some credit in life unless you are independently wealthy.
Artsyblnd
New Member
posted: Apr. 14, 2008 @ 4:32p
demingy said:Artsyblnd said:OK all you finance GURUS....my step son is almost 19 and has NO credit. I know when I was his age, the local department store or Sears was a good one to start with, they were easy approvals....a small $300 credit like is what they gave you and in no time you were up up up. HE needs to establish some sort of credit. He is also a 1099 employee....he works for our business. Any suggestions to help get him started? Thanks for reading this far
I'm confused - it looks like you already have your answer (department store cards work), why hasn't he tried that or why didn't it work?
Well...I thought I would get an opinion as to what an easy one is to get these days....it's been a while since I was in his shoes...and rather then have him just start applying to random places, I though I'd get an opinion.
demingy
Senior Member
posted: Apr. 14, 2008 @ 4:34p
Artsyblnd said:demingy said:Artsyblnd said:OK all you finance GURUS....my step son is almost 19 and has NO credit. I know when I was his age, the local department store or Sears was a good one to start with, they were easy approvals....a small $300 credit like is what they gave you and in no time you were up up up. HE needs to establish some sort of credit. He is also a 1099 employee....he works for our business. Any suggestions to help get him started? Thanks for reading this far
I'm confused - it looks like you already have your answer (department store cards work), why hasn't he tried that or why didn't it work?
Well...I thought I would get an opinion as to what an easy one is to get these days....it's been a while since I was in his shoes...and rather then have him just start applying to random places, I though I'd get an opinion.
There are threads here with info about how to establish credit - a quick search will give you as many opinions as you could possibly want.
Artsyblnd
New Member
posted: Apr. 14, 2008 @ 4:36p
THANKS DEMINGY! I'll do a search...I am new, so getting used to the site!
delzy
Senior Member - 3K
posted: Apr. 14, 2008 @ 4:40p
Artsyblnd said:OK all you finance GURUS....my step son is almost 19 and has NO credit. I know when I was his age, the local department store or Sears was a good one to start with, they were easy approvals....a small $300 credit like is what they gave you and in no time you were up up up. HE needs to establish some sort of credit. He is also a 1099 employee....he works for our business. Any suggestions to help get him started? Thanks for reading this far WTH is a 1099 employee? I think you mean he is an illegal contractor. Anyway, you better get busy with his credit if you want to screw him even more in the future.
Artsyblnd said:Any suggestions to help get him started?
Search for "secured credit card"...
bauzer71487
Greedy Member
posted: Apr. 14, 2008 @ 4:57p
Pretty much any "Student Card". . crappy rewards, crappy APR, but it'll stay on there.
Why not add him as au first? Just because fico doesn't care about AU's. . doesn't mean that a bank might.
socalfiremedic
New Member
posted: Apr. 14, 2008 @ 5:19p
Since all you received was bashing in the previous replies, I might as well add some positive remarks:
-Add him as an authorized user' to one of your CCS. (preferably one with high CL and low utilization)
-Student CC such as citi or BofA
-secured credit card such as National City or Bofa, etc.
-Credit Union CC if he banks with a credit union
tolamapS
Senior Member - 1K
posted: Apr. 14, 2008 @ 5:39p
Artsyblnd said:Well...I thought I would get an opinion as to what an easy one is to get these days....it's been a while since I was in his shoes...and rather then have him just start applying to random places, I though I'd get an opinion.
Assuming your credit is good, and you trust him financially, you can do the following:
1. Make him an AU (authorized user) on one or two of your aged credit cards. He does not need to get the credit cards in his hands, but the issuers will start reporting the positive history of your credit cards on his credit files,
2. Have him apply to a store credit card or two,
3. If he is in college, he might be able to apply for some college cards. I got my first two cards while in college (MBNA and CITI).
4. Look at web-sites like credit.com or cardoffers.com or cardselection.com for credit cards that might be appropriate for him. Some of these sites mention the requirements for each credit card, e.g., "This card requires excellent / good / average credit".
lorcha
Cranky Member
posted: Apr. 14, 2008 @ 6:22p
If he's 19, he should get the Hooters credit card. What 19 year old male wouldn't like a Hooters card?
brgnhunter
Member
posted: Apr. 14, 2008 @ 6:26p
A few years back when I was his age with no credit to speak of the easiest card for me to get was a American Express student card.
RS4Rings
Senior Member - 8K
posted: Apr. 14, 2008 @ 6:29p
Artsyblnd said:WOW...I though some intelligence lived here..... It moved out last week
Glitch99
Senior Member - 5K
posted: Apr. 14, 2008 @ 10:52p
Artsyblnd said:He is also a 1099 employee....There is no such thing. Its either/or.
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