If she wants a credit card, and feels she can manage it responsibly, then that’s fine. I still pay it off in full every month, unless my money is needed for an emergency (very rare) and I have a good credit score because of it. What everyone said about getting a credit card, ditto here.

Please understand that Experian policies change over time. Paying monthly bills is how you start developing a line of credit. Although their slate is technically clean, in the case of credit history none is worse than bad. Yes, we live in a credit-driven society … but no credit history that doesn’t mean you have to play the game. I switched to a rewards card and still only use it for set purposes (e.g.

Financial institutions formerly camped out in tents and booths across campus offering low-interest rates and added perks like free money or electronic devices. I’m a college student trying to get my savings and IRA account (started as custodial accounts when I was 11) switched to my name. We had no problems a year later applying for a mortgage. Make sure there is no penalty for early payment. I think once you have one, its easier to get more. Fixed annuities are essentially cd like annuity interest rates investments issued by insurance.

Car loan calculators make it easy to compare car loan interest calc different auto loans and calculate. The very fact that she’s asking this question shows that she thinks seriously about money. Forbes writers have the ability to call out member no credit history comments they find particularly interesting. Based on your question, it sounds as if the inquiries may be deleted soon, if they haven’t been already. Compare credit cards for people with no credit history and apply online at. Credit cards are generally a losing proposition.

The only reason you need one is in order to borrow money. Oct first, make sure that you truly have no credit history by getting a free copy of your. I can’t see any good reason not to do it, and the person asking the question seems to already know the answer. Plus, there’s greater statutory protection for credit card accounts compared to debit card usage.

Well there are not too many options other than obtaining some sort of credit in order to establish a credit record. A credit card is simply one more method of paying for things. In the general case, however, I’m quite certain that ALL charges, even those made by you, are solely the responsibility of your dad/aunt/whoever holds the account. Payday at burger king is usually when is burger kings payday every other friday.

Lately, we have had a number of high expenses, and I let my fiance know that if the common expenses don’t shape up, we are going to have to cut back on eating out and slash the gourmet grocery budget. In the same way, credit card use is a very personal decision. I commend Elizabeth’s efforts as I am in much the same position. Don’t go get credit cards to get a credit history. The law now requires any person under the age of 21 who is not an authorized user on his or her parents’ credit card accounts to provide proof of income to repay loans or to have an adult co-signer.

I appreciate all the suggestions, but for the sake of clarity I won’t follow the ones I don’t understand (e.g. Bankrate, credit.com, and other sources all state that only the person who opened the account is responsible for the debt. In my experience, my debit card was bad for my credit. I still don’t like the idea of having a credit card, but I dislike bureaucracy more.

I have dealt with ‘little’ credit history when I graduated college. It disheartens me to see other students, already in more debt than me, spending a lot of money on things they don’t need, under the banner that they’re already in debt from student loans, so they might as well get in more. Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Look, credit cards will only screw you if you don’t pay the full balance off every month.

A secured credit card account is a good way to begin establishing a credit history. The policy if over a certain amount, is tax deductable, and you can borrow (IE credit) off it’s value after a few years. A mortgage broker acts as an intermediary who brokers mortgage loans on. Watch the money you borrowed at 0% earn money for YOU at 5% or greater. I did this a lot in the UK, making several thousand pounds in interest by exploiting 0% offers and interest-free periods, not to mention loopholes that for a while granted loyalty points on balance transfers.

People with no credit usually include students and new immigrants who have never taken out a loan and have no credit cards. Other product and company names mentioned herein are the property of their respective owners. They remain in your credit report for two years.

You must currently buy shampoo or whatever anyway, so now you just pull out the credit card. Be sure to take advantage of your bank’s online downloads for all account data, etc., as this helps greatly in keeping track of your finances. Unfortunately, I already have four hard requests. To get the 0% you might have to get 2 cards, one with no credit history the offer and another with zero % to tranfer it to. When I was finished I had a good history. As a student it should be pretty easy to go to your bank where you no credit history have your checking account and get an very low limit student card.

Sounds a lot like how the credit card industry works no credit history in general, preying on peoples fears, etc. I agree with you that using someone else’s history involves risks. Requests got denied because I apparently didn't have a credit score. If you are able to live on a debt card with no problem, then charging a few things on your credit card and paying it off each month shouldn’t be an issue. Next month I’ll be calling them up and asking to a) cancel my annual fee and b) return my $200 and turn the account into a regular credit account, or I’ll be taking my business elsewhere (and the best thing is, since I have some credit record now, I can do that.

At unitus, we certainly don t believe bad card credit visa that no credit equals bad credit. That is, I may have $1000 in checking, but if I charge $200, I deduct that immediately from my own books. Contrary to popular belief, you don’t have to have a FICO score to exist. I can transfer money across instantly from my normal account, so my bank balance always reflects ‘money’ I have left, even if the charge hasn’t come through on the credit card. You need to have a credit history, and the simplest way to do that is to have a credit card. But, like others, I say just get a credit card because the piddly amounts of your utility bills aren’t going to do much for your credit score.