<p>It may be nice to get a credit card from a credit union. I have had one from my credit union since I was 16 and have used it wisely(don’t go shopping, just buying stuff I need online like comp parts, books to read, textbooks, etc), never ever kept a balance and my credit limit has been increasing since then(hundreds by year). Heck the reason I say credit unions are good because unlike banks, their motive isn’t to put you into debt and profit off you.</p>
<p>SoAD, im pretty sure it will. well i know not paying your cable & such definately will go on your credit score as a delinquincy. idk if paying late will necessarily go on your score, but pay early anyways!!!</p>
<p>I’m surprise you were able to get a car loan without a credit score… and surprise you’ve been denied, must be something else. I know my sister was approved when she was 18 for a credit card, at the time she decided to hold off and get a debt card… though now she would like a credit card ( or either she does have one now).</p>
<p>I’ve had a credit card since I was 18 (I’m 21 now). I use it every time I eat out or pay for gas. I have a $500/month limit and I pay it off every month without accumulating any interest.</p>
<p>Quick question, does credit get built up even with smaller purchases like, say, clothing or iTunes stuff? Or is it just big stuff like fridges and etc?</p>
<p>paying your bills on time is what builds your score.</p>
<p>roughly, your credit score breaks down like this:
1/3 = payment history (paying late and not paying = bad)
1/3 = debt and ratio of debt to credit (maxed out credit cards = lower credit score… makes sense)
1/3 = length of credit history (never cancel your first credit card, consistent repayment of credit/loans over time = good), recent credit applications (being denied = not good, trying to get tons of new credit cards makes people think you desperately need money = not good), types (more types = different circumstances where you have a proven record of paying back your loans)</p>
<p>and what if getting a credit card is a definite 4 u ( like me. im s shoe fanatic i will my shoes to and will not have any way 2 pay it back) Is there any other ways to build credit up?</p>
<p>Leasing a car is perfectly fine. Most people don’t understand the concept however, and lease a $80,000 car when they have a $30,000/year job. My family has always leased cars for 36 months, because we get bored with having the same car for too long. Also, you don’t have to worry about selling the car at the end of the lease, the dealership just takes it back.</p>
<p>The best part of leasing is that you always have a new car, therefore you never have maintenance fees, etc, since nothing breaks down from wear and tear.</p>
<p>Buying a car is pointless. It is not an investment. It loses so much value, there is not point. After 3 years of paying off a purchased car, you now own a old used piece of crap that you can sell for a fraction if its original value. And you paid for the whole thing, leasing is cheaper because you are leasing the car for its utility and usefulness, so when you give it back the amount you have paid is worth it, because you used it.</p>
<p>^^ Do NOT lease a car if you travel a lot of miles. That’s why people go ahead and buy a new/used cars. There are restrictions on leased vehicles.</p>
<p>This thread has a lot of great info! My parents want me to get a credit card for when I start school this year, so that I can start building my credit, and I was confused about some things. But now I understand. And I think I’ll go with Citi, since I’ve heard so many good things about them.</p>
<p>Yeah I plan to pay bills on time… I’m also thinking about leasing a car, besides the fact of a mile cap. Though I notice some mile caps are higher.</p>