Xan's right. I couldn't even get a credit card. Applied for all kinds of crap. I tried gas cards, etc. everything declined
3 years perfect history with my bank and my cell payments, landed me a tiny little credit card when I was 20.
Someone my age with my credit score is very rare. I have the best credit in my family.
But because of my age, my credit isnt completely valid. I can't even get a sears card.
5 years ago, you could get 10 credit cards @ 18. But with todays economy getting a credit card @ 18 is almost impossible.
@ nero, larger payments don't necessarily increase your credit. Nor do immediate payments.
Credit trackers look at reliability and consistency. The best way is to pay 50% more than your minimum each month. a week or more before due.
Really the best way to start your credit is to get a collateral loan from an independent company. something small, maybe $200.
they probably won't give you more than that anyways.
Generally independent loan companies will raise your loan limit if you have a good history with them.
But then again, you need something in your name ( not your parents ) as collateral.
This post was edited by DB_odin on Jan 16 2012 01:56am