credit advice

This is a pretty good article on getting a good credit history. It discusses getting credit if you have never had any.

http://articles.moneycentral.msn.com/CollegeAndFamily/MoneyInYour20s/9waysToBuildAKillerCreditScore.aspx?f=25&MSPPError=-2147197912

Now a bit of advice from me. I have NEVER paid a cent in credit charges. I use my credit card as a convenience, and everything is paid off each month. In fact, I have my bills deducted automatically by by credit card company.

There are things a young person needs to know. When you are paying off a credit card, you are BUYING MONEY, at a high rate of interest. Avoid that, by not buying anything that you can't afford.

Obviously, many young people can't buy a car, or a house for cash. If you need to pay those off, don't buy anything that paying off would cause a strain on your budget.

Remember, when you sign a credit card slip, you are agreeing to pay for the item. Just because cash does not pass hands, whatever you are buying costs. So don't go overboard.

LOL, looks like a huge waste of time to get a credit card. i think im screwed already anyways though so its all good :/

A credit card will help build credit a little bit, but not a hell of a lot. Nowhere near what some people think. If you have no credit history, it would take years of having credit cards to build up a high enough limit to get a decent score.

You want to build credit fast, get a co-signer and get a small personal loan at your local bank. Don't use the money, pay it off over a few months, then get a larger loan. Do this a few times, and you've got yourself a pretty little credit score.

Or save $100.

Go to a bank or credit union and ask for a $100 loan with your savings account as security.

Pay off the loan while saving $1000.

Borrow $1000 using the savings account as security....

Explain to the lending institution that you're trying to build a credit rating.

By the by, do you have unpaid bills?