How can teenagers build credit?

How do teenagers build credit? Im almost 17 when Im 18 I would like to be living on my own in my own house or apartment [most likely an apartment..] but I dont have any credit because Ive never had credit cards or any of that...I dont want to be paying tons more money on things when Im 18 because I dont have any credit..How can teenagers build credit?
It's hard to build credit before you're 18 because that is when you are legally able to sign a contract which is really the basis for most credit.





The best way to get yourself ready and able to handle credit is to get a checking and savings account, one that has a debit card associated with it.





Start saving now, making sure to focus on what's in your savings and what's in your checking, making sure that you never overdraw on either accounts.





Make a budget if you can.


Doing those things will help you because you'll be able to handle your finances better hopefully keeping you out of debt when you get credit.





The good thing is that is that you'll be able to get an apartment without a lot of credit. And, you won't pay more per month because of the lack of credit, but you may pay more on your deposit. But, again, a good thing is that the money for the deposit is refundable when you move out.





When you turn 18, get a credit card ASAP if you're looking to build credit. You'll need 6-9 months of on time payments to have a credit score. Make sure that you don't spend more than 40% of the credit line. Never go over your credit line.





Handle everything responsibly and you'll be getting great interest rates in no time!How can teenagers build credit?
Get a credit card and make all your payments on time
Very simply, you can't. You must be 18 to legally sign contracts. Creditors are not going to extend credit to you until you can sign that contract.





You can't even be a co-signer on a credit card. Your parents can make you an authorized user on their account but that will not help your credit. Piggybacking, as it's called, doesn't work anymore. The rules have changed and authorized user accounts are not calculated into your credit score.





You should open up a bank account and start saving money. When you turn 18, you will be able to get a credit card thru your bank.
You build credit the way anyone builds credit. You have to borrow money and make payments on time. It's a terrible financial plan.





Just think about it. You have to borrow money and make payments on time to get a high fico score so that you can go out and borrow more money and pay lots of interest. You have to keep borrowing money and keep making payments on time to keep a high fico score. What a waste.





You will never get ahead financially making payments.





If you pay as you go.


If you live on less money than you make.


You will have money and you will not have to worship at the alter of the almighty fico score.





The only time that you might have to borrow money is for a home. You can do that without a fico score. It's called manual underwriting. It's not a sub prime loan. It's the way home loans were givin' before all the fico score worship. You can get the lowest interest rate out there.
Laura's advice is completely wrong.





Even if you sign on with a parent, your credit will not be affected as you are not allowed to have credit until you are 18 years old. And if you do not pay the balance of your credit cards every month, your credit will be lower than it otherwise would be.





Federal regulations are in place to keep people under the age of 18 from having credit, and as such until you turn 18 there is no way for you to do so. Before you buy a place you should rent an apartment. Get a credit card or two and pay the balance off in full every month. If you need one, get a cell phone on a plan and make sure to pay that off in full as well. These will help you build credit so that you will have a good rating by the time you're about 20 years old. Then you can look to buy a house or an apartment and you'll have a really good credit rating.
You need to get a credit card with a parent or other as a co-signer. Use the card to make purchases. Make payments always above the minimum. Do not pay off the credit card or it will not build your credit. Do not exceed 30% of the total available credit because that will adversely affect your credit as well.
uif u can have a addinational card from ur parent.or u need to have credit card with ur own money to start haven cc
NO THEPENNYMINE, YOUR INFORMATION IS WRONG ALSO.





You can get credit before your 18 how do you think that some peoples credit is ruined before they turn 18 and then they have a hard time getting anything until the credit bureas investigate and realise that they were too young to have credit and remove the items?


There is a thing called piggy-backing (and this is not illegal) Your parents could have for instance a chase credit card, which requires that you input the ssn and birthdate of the extra person that you add on to your account (like a second cardholder) when they report to the credit bureas they report on your credit report as well. You could also have utilities in your name before your 18 which is reported on a different part of your credit that most companies dont see when they pull your credit, but it can be on there. You could apply for credit with a company like newport news or midnight velvet and they will give you credit.


As far as apartments go you should not have a hard time at all getting an apartment without credit, it's actually very easy your deposit may be just a tad bit higher depending on where your trying to live.





So I would strongly suggest asking your parents to add you to one of their credit cards (Chase if they have it)


and DO pay your full balance of each month and use the card each month (only buy items that you can afford to pay off in full-I know it will be tempting) especially if their interest rate is high you really want to pay the card off in full.


In about six months you will have a good credit rating.