Build credit

This is difficult for me because I’m starting out in the US from scratch. I guess my plan is:
1. Apply for a store card and use it for small purchases that I know I can pay off at the end of the month.
2. Pay all my bills on time.
3. If I can’t get a regular credit card, then apply for a secured card. Not ideal, but at least it will help me establish credit and then hopefully I’ll be able to upgrade soon.

Any other suggestions?

I just got approved for my first 2 credit cards. One from my bank and the other is a Capital One card. I plan to use them only on things I would normally buy, and pay them off about a week before they are due each month. I’m hoping in six months to get a small personal loan to vary my types of credit, and to one day get a car and house financed. I am very excited to be on my way to achieveing this goal!

I have no credit history and I have been trying to get a credit card but I keep getting declined, which makes this goal a little more difficult!

So, I need to build my credit.
Basically because I realize that you need it for EVERYTHING!

Right now I have a collection from school, and 11 on time car payments.

I’ve had one credit card for the past two years in addition to my car payments.

I just recently got 3 more credit cards(one Amex, one Wamu, and one Victoria’s Secret), and plan on paying them off right away. Just buying something small each month with each. Like toiletries or something.

I started with a student credit card, and used it once or twice a month, and paid it off in full. Then I got a United MileagePlus card and I’ve been using it as my primary spending mechanism ever since, also paid off in full each month. I recently looked at my credit score when I bought my new car, and bam, things looked very good. So I think I am nearing completion of “building my credit”. I guess the responsibility over time pays off!

After the Macbook/Nebraska Furniture Mart Debacle a few weeks ago, I’ve finally made my first step to building credit that fit in quite nicely with buying an even better Macbook Pro (and completing another goal)!

I’ve been wanting to get a Macbook for quite some time, and my generous financial aid package would have allowed me to comfortably just buy one out of pocket, but I wanted to use the purchase as an opportunity to build up my non-existent credit. So yesterday, after being convinced of the spectacular clearance price on this Macbook Pro, my lovely bank representative helped me set up my first little 15 month loan (only $2,000, but that’s a LOT to poor, poor me) by transferring that amount from my savings into a CD. It might get a little tight with that money stored away on top of having to make monthly payments now… but the consolation is this GREAT new toy and the super-low interest rate the arrangement afforded.

Now… I just have to stay on top of my payments. I see a new goal to add to my list already…

And maybe in a year or two I can get a new car!

Go me!

I changed the way I use money and credit. I have a small credit card in which I pay for everything each month. Then I just pay it in full. Because I take home much more than my credit card limit the system works well. Also my student loan is set up on an automatic payment system right out of my checking each month. I will be ready to buy a car and a home once the loan is payed off at the end of the year. =D

Thee

I got my first credit card. Paying it off every month in full, hopefully this will help too :)

Why took I my first credit card? I bought the Car. I can say that it was forced measure: I had to collect money for a long time, had to deny myself in many respects, had to reach my work and after work reach my study by bus. I compared all merits with demerits of credit card and understood that all my payments of interest are equal money that I would spend on bus and taxi. And the most important: I saved my nerves and time. And Time is the most expensive thing in my life! Now I live on credit because I bought the House. Yes, it isn’t easy, but now I have my own place, where I am the Boss. I think that all this things like time and self-reliance are worthy of getting credit card.