Question


skipper...

How to start getting credit? Will I qualify for a gas card?

I am 19 years old and I have no credit history at all. I have no credit cards or an credit with any stores. I was to start building up my credit because I hear it is important to have credit for the future. I know nothing about credit, or how it works. I have applied for credit at Target, Best Buy, and Sears and all three have declined me, I'm guessing since I have no credit history. What ways can I start building up my credit? I was thinking of applying for a Gas Card. I was at the Chevron Gas station and I saw an application for a Chevron credit card. If I apply for a gas card will I get it with no credit history? If not, how can I start bulding credit. P.S. Is there any website or anything you guys can give me that tells me about what credit is, how it works, and how to get it? Because I'm absolutely clueless. I need like a 'credit for dummies' kind of information.

4 weeks ago - 4 answers

Best Answer

Chosen by Asker

Almost any bank will have a secured credit card. You're guaranteed to get one because they banks won't lose anything if you mess up. You open an account with $300+ that holds your credit limit open, and within a year or so of good behaviour you can upgrade to a regular card.

by kelly

4 weeks ago

Asker's Rating: 

Other Answers

I started with a gas card. But things are getting tougher now. You may have to go to your bank and ask for a secured card. This card with good usage can turn into a credit card in as little as 6 months. Use it wrongly and it could take a year or two. The correct way to use credit. Charge a little something and pay in full each month. This will get you those 800+ scores - I am proof. Carrying balances not only reduces your credit worthiness - in some cases it destroys your life. Never pay interest - pay in full - and enjoy top credit for life. /

by Judy- 4 weeks ago

Join a credit union if possible, they will open a "Studnet Card" for you with about a $250-$750 credit limit, depending on how much you make a month. You proabbly were denied at stores since you don't have a credit report, since you have no credit at all, those banks and stores don't know if you're a good or bad credit risk ( meaning, will you pay us back or not). Credit is basically a loan. Your credit is not "scoreable" until 6-months after having some form of credit, like a credit card etc. The best thing to do is go to a credit union or get a secured card, where you put a deposit down and that acts as your credit limit, each time you apply at a store and are denied that hurts your overall score, but don't worry because it only stays on there for 1-2 years, so after a while, your score will be back to normal. Overall, once you get a card, PAY ON TIME, and keep a low balance, and you will build a good credit history, so when you want a new car or cell phone contract, you can get it no problem. Also, go to myfico.com, they invented the credit report, and have good information etc.

by Robert F- 4 weeks ago

The only way to get a credit score is to borrow money and make payments on time. The only way to keep a high score is to keep borrowing money and keep making payments on time. It's a terrible financial plan. It keeps you in debt. If you are responsible with your money and live on less than you make. Pay as you go and save up an emergency fund. You will not have payments. You will have money. You will not have to worship the great fico.

by heybulldog- 4 weeks ago