18 years old with debt: can I get a Citi secured card?

[Anonymous]

I got accepted at the colleges of my choice. I was going to get a job for a few months and quit in June( the month I graduate ) I'm really trying to get my score up. I have a pre-paid phone and currently with no credit cards. The main reason I want my score to get better is because I want to get approved for nice apartments with the min. deposit and also student credit cards and the lowest interest on an car loan possible. My parents and I don't get along all that good and they've been talking about me getting my own place. I have $617.39 to my name now. I was going to put $200 towards my secured credit card and $205 for my senior graduation pack. I need alot of advise! Thanks!

[DI]

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@Anonymous wrote:
I got accepted at the colleges of my choice. I was going to get a job for a few months and quit in June( the month I graduate ) I'm really trying to get my score up. I have a pre-paid phone and currently with no credit cards. The main reason I want my score to get better is because I want to get approved for nice apartments with the min. deposit and also student credit cards and the lowest interest on an car loan possible. My parents and I don't get along all that good and they've been talking about me getting my own place. I have $617.39 to my name now. I was going to put $200 towards my secured credit card and $205 for my senior graduation pack. I need alot of advise! Thanks!

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That's the first thing that came to mind when I saw your previous post.  You still need to slow down.  You really don't want to create a lot of resposibilties right now.  You do not want to have to decide between working and going to school.  I've done both while in college, but not during my 1st two years.  If you're going to be a freshmen, are you not required to live on campus in the dorm the first year?

Message Edited by DI on 12-19-2009 04:58 PM

[Anonymous]

I'm not sure yet. It's up to me.  I still can't believe I racked up so much debt and I'm about to be 18 towards the end of next month and I won't be able to have any student cards in college or get student loans from my bank or any other.

[DI]

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@Anonymous wrote:

I'm not sure yet. It's up to me.  I still can't believe I racked up so much debt and I'm about to be 18 towards the end of next month and I won't be able to have any student cards in college or get student loans from my bank or any other.

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Have you filled out the Fafsa?  You do not want to get private loans from the bank. They come with no perks.  You can qualify for government back student loans regardless what your credit score is.  That is as long as you're not currently in default with a student loan.  

Are you planning to start college Fall '10.  You want to get your FAFSA in ASAP next year.  You can submit it before your parents complete their taxes.  You can always go back and make correction after submitting the FAFSA.

[Anonymous]

Yes I completed that about 2 months ago. My mom won't sign it though and my dad is no longer in the situation. I've got accepted at some pretty good schools, and I don't even know if I still want to go.

[Anonymous]

OK I am confused. Can you list exactly who it is and how much you owe the $6000 to? I dont understand how you arent 18 yet and you have $6000 worth of debt. I understand you can get a prepaid phone under 18 but where is your debt. You said you arent 18 and have no credit cards so what is the debt for? Also at my college you are REQUIRED to live on campus the first year with only three extenuating circumstances that you can be exempt. You may want to look into this further.

[DI]

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@Anonymous wrote:

I'm not sure yet. It's up to me.  I still can't believe I racked up so much debt and I'm about to be 18 towards the end of next month and I won't be able to have any student cards in college or get student loans from my bank or any other.

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You want to change whatever habits that got you in so much debt.  You have no choice but to work part-time throughout college and full-time during the summer.  Filing BK is not the answer.  Unless your parents are willing to pay the debt off, you have a long road ahead of you.  

[DI]

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@Anonymous wrote:
Yes I completed that about 2 months ago. My mom won't sign it though and my dad is no longer in the situation. I've got accepted at some pretty good schools, and I don't even know if I still want to go.

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Are you saying your completed the FAFSA for the Fall 2010 and Spring 2011?  That isn't possible.  The new forms won't be available until January.  

JokerG2 : send me private message with any questions you may have.  I work for a major college and can answer many of your questions.  

Message Edited by DI on 12-19-2009 05:19 PM

[Anonymous]

Bofa, Total Visa(2), US Bank,Rewards 660, Midnight Velvet, Swiss Colony, Seventh Ave, Dell, like 5 collection Agencies and I just found out there is a judgement on my report. I've been trying to contact the creditors and tell them I'm only 17 and have proof of my age. Alltel helped me out, they just sent me the letter today telling me they are removing me from there system and off my credit report and clearing it up with the collection agencies.

Incorrect DOB..

[Anonymous]

Are these joint accounts or are they solely in your name?