07-19-2013 06:36 AM
I'm surprised at how many people younger than 25 are already planning to buy a house!
Seriously. I finished school with only about 32k in student loans. I'll be paying 350-400 dollars per month for the next 9 and a half years to get rid of them. I'm almost 24 and I'll be paying those loans off until I'm about 33. Once I start earning more I guess I can throw down more each month to handle the loans but right now I don't make enough to justify having a mortgage and loan payments. I only actually started a "real" job within the last few months (making twice that I did before so that helps).
Credit wise, I lucked out when I was younger. My first card was a Discover Card that I was approved for before any regulations were passed / Discover's policies changed. I had *no* work history and no job at the time. I was 18 and had less than a year of credit history which only included student loan dispursements (no payements). I think my initial limit was either $350 or $500. Something changed in that time because my girlfriend apped for a discover it a few months ago and was denied for "insufficient income" while making a at least some money, having employment history, and a credit history.
08-10-2013 12:45 PM
08-15-2013 01:12 PM
I'm 18, got started with the Capital One Journey the week after my birthday. I'll be 19 in 22 days. My cards and acquisition dates are in my signature; as well as my seedling, as I've entered the garden.
08-27-2013 01:05 PM
Just turned 20 here
Started building my credit at 16 with a Young Person Visa that is what New Alliance bank called it. The card was specifically aimed at teenagers who wanted to start building credit early. Obviously I needed a co-signer who needed to be approved. Now I have over 10,000 in available credit and Fico scores 760+ across the board
Current CC Portfolio
AMEX PRG- NPSL
Chase Freedom- 1500
Discover IT- 4000
Chase Sapphire Preferred 5000
09-14-2013 04:54 PM
Good to see so many young folks here getting their financial houses, literally and figuratively, in order.
My drivers license tells me I'm as old as dirt. I assume it's correct. When I was 21 I was an idiot about money and had the maturity of a three-month old golden retriever.
09-17-2013 05:27 PM
10-13-2013 12:25 PM - edited 10-13-2013 12:36 PM
I'm 23, and I started my journey at 18. My first credit card was through my credit union and had a credit limit of $500. The card had to have a cosigner as well. I still have this card but never use it because you have to mail a check to pay it, and the credit line is still only $500. Four years later, my bank (BB&T) begged me to take their credit card, and I happily obliged. At the time, I didn't know that it would be such a good decision for me, but it turned out to be, since unknowingly to me at the time, the credit union only reported to Equifax, so while my Equifax score was great, my TU and EQ files were non-existant, and BB&T helped me start to build history on all 3 credit files. This year, I have expanded my card collection significantly, and have gotten the rest of the cards in my signature. I'm extremely happy with my progress so far.
I am currently a graduate student getting my Master's in Computer Science. I have around another 1.5 years left.
Goals for me at this time include getting a credit card with a limit over $5000, and hopefully getting a Chase Sapphire late next year if I'm successful getting a card with a CL over $5k. Longer term goals include buying a car (and hopefully getting one of those 0% APR loans).
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.