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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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?
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.
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 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: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".
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