Credit Cards Center Credit cards from our partners
Reply
Established Contributor
Posts: 858
Registered: ‎06-26-2007
0

Getting Credit for a 19 year old

Hey all,
 
It's Eve.  My daughter is 19 years old and works full time.  She has been applying trying to get a credit card because she has no credit history and she always gets denied.  Can u tell us what to do, she needs credit so she can get a car.
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Getting Credit for a 19 year old

My advise is to have her open an account at a credit union.
 
She should be able to get a small CC though them -
She will get a great rate on a car loan when she and her credit is ready.
Frequent Contributor
Posts: 489
Registered: ‎05-23-2007
0

Re: Getting Credit for a 19 year old

If she is a Student she would easily qualify for a student VISA with CAP1 or Chase. As for the car are you or your husband able to co-sign for her on the car??
Established Contributor
Posts: 858
Registered: ‎06-26-2007
0

Re: Getting Credit for a 19 year old

No, not right now.  Maybe next year.
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
0

Re: Getting Credit for a 19 year old

You've gotten good advice so far...I think your first logical stop would be her bank or credit union.  If she has had an account relationship with them and kept her nose clean (no or maybe only one bounced check or overdraft), they would likely give her a starter card.  With no baddies on her credit report, it won't take long for her FICO to rise.  As soon as she is able (probably six months) she should get another couple of credit cards, always paying on time and keeping her balance below 10% of the credit limit.
 
You'll be amazed how fast her credit score starts rising by autumn.  I have a friend of mine whose FICO is around 690, and she's only had credit a year.  By the end of the year, she'll be around 720 and able to get approved for just about any reasonable credit offer.  No reason your daughter can't do the same.
- - - -
in a credit-scoring postnuclear Stone Age...
Highlighted
Established Contributor
Posts: 858
Registered: ‎06-26-2007
0

Re: Getting Credit for a 19 year old

Smiley Happy Thanks everyone, I will tell her to go to the credit union this week to get the ball rolling.
 
Eve
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.