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New Member
Posts: 15
Registered: ‎01-12-2014
0

21 years old need to build credit

[ Edited ]

EDIT 2/10/2014: I applied for platinum one and was approved right away with a 2k credit line. I got the card & I'm set now. Thanks for all the help guys

 

 

So long story short I'm basically 21 now with no credit. I've been an authorized user of my parents citibank mastercard since early 2010 but have no clue what my credit score/history is. I'm assuming it's low since Chase Freedom rejected me this summer. 

 

I've worked here and there but currenty not working ATM. I'm a full time college student. I knew I needed my own credit card since 18 but have been putting it off. I'm responsible, always my bills on time, good at managing money etc but obviously that doesn't matter since companies check your credit history. My parents have no problem helping me build credit such as being a cosigner, giving me the deposit money etc. The problem is it's really hard to get accepted since I have no past credit history other than being authorized to use my parents citi card and I'm not working atm. I've had a chase college account since 2010 but applied for their freedom during summer and got denied.  So anyone have any advice on where to apply etc? I'm in Southern Calfornia btw 

Contributor
Posts: 103
Registered: ‎06-25-2013
0

Re: 21 years old need to build credit

Take a look at Bank Of America's secured card

Experian: 734 Equifax: 765 Transunion:776

BoA Cash Rewards($6500)|Fidelity Investment Rewards AMEX($5000)|Chase Freedom($4000)|
Chase Sapphire Preferred($6500)|Amex PRG ($NPSL)|Amex SPG($6000)|Amex Business Gold Rewards($NPSL)|Amex BCE ($10,200)|Citi AA Exec ($10,500)|
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Valued Member
Posts: 34
Registered: ‎02-17-2013
0

Re: 21 years old need to build credit

Go to your bank and apply for a secured card. You'll have to put down a deposit. But you are guaranteed to start getting your usage reported to the bureau's. Which will start building your credit profile.

Good luck and keep us updated.





Established Contributor
Posts: 857
Registered: ‎08-29-2013
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Re: 21 years old need to build credit

Is there anyway you can try to get a job somewhere? Cause if you get a secured card it should be your bills to pay, not your parents even if they cosign. 

Established Contributor
Posts: 653
Registered: ‎01-31-2013
0

Re: 21 years old need to build credit

If your parents have no problem helping out, ask them to add you as an authorized user to some of their credit cards.  Hands down the easiest way for someone in your position to establish credit.

   
FICO Scores 800+
New Member
Posts: 15
Registered: ‎01-12-2014
0

Re: 21 years old need to build credit

The problem is for Chase I don't think there is a secured card? I might get a job this school semester, not sure yet but during summer I will have a job which is just a temporary 1 half month thing. I'm already an authorized user on my parents credit card but I'm not building credit that way since it's under their credit. For bank of america do i need to make an account, bank with them, then apply for the secured one? 

Frequent Contributor
Posts: 372
Registered: ‎07-20-2013
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Re: 21 years old need to build credit


Leadberry wrote:

If your parents have no problem helping out, ask them to add you as an authorized user to some of their credit cards.  Hands down the easiest way for someone in your position to establish credit.


+1 This is what I would recommend too....at least now while you're not working yet.  After you get a job, try for a secured card or two.  Then in about 6 months of good history with your CCs, you should be able to get some unsecured credit cards on your own pretty easily.  Best of luck to you....it sounds like you'll be on the right track in no time!

AmEx PRG (NPSL) | AmEx BCP (10k) | AmEx Blue Cash (1k) | AmEx SPG (3.5k) | Barclay Arrival WMC (7.5k) | Barclay Sallie Mae (1.5k) | Cap1 QS (2k) | Chase Freedom (1k) | Discover IT (4.5k) | InTouch (Local) CU MC (5k) | InTouch (Local) CU LOC (25k)

Citi/Best Buy (AU) (1.5k) | Citi/Best Buy (7.5k) | Comenity/Crate & Barrel (4k) | Comenity/Restoration Hardware (9k) | GE/Ethan Allen (2.5k) | Synchrony Bank/Banana Republic (3.3k) | Synchrony Bank/Gap (3.3k) | Synchrony Bank/Walmart (3.3k)

myFICO scores ~ 691 (EQ) 670 (EX) 712 (TU) || Goal scores: 750+ (all 3)
New Member
Posts: 4
Registered: ‎01-08-2014
0

Re: 21 years old need to build credit

I was in your position a couple of years ago. No credit history whatsoever. I took out a share secure loan and now I'm boasting scores of 750+ (now down to 728 for balances that were a little too high). It definitely was pretty easy.

New Member
Posts: 15
Registered: ‎01-12-2014
0

Re: 21 years old need to build credit

[ Edited ]

I believe I am an authorized user on my parents citibank card but i don't think im building credit? 

New Member
Posts: 15
Registered: ‎01-12-2014
0

Re: 21 years old need to build credit

[ Edited ]

Just chatted with a citibank representive and I've been an authorized user under my parents card for over 3 years now. But I'm not sure if I'm actually building credit, the person i talked to online claims I am  so where the heck would i go to check my credit score? 

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