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Just Turned 18 - Setting up my future

ChrisCulpepper
Established Contributor

Re: Just Turned 18 - Setting up my future

Congrats on the great progress and on the great score!

Goal: 700's by 11/1/2015 (all baddies will be gone)
Message 21 of 28
ImTheDevil
Community Leader
Senior Contributor

Re: Just Turned 18 - Setting up my future

Congrats on getting out in front of your credit at a young age. It's something far too few people do. Great advice above from the others.

 

I wanted to chime in and second what @SouthJamaica said - if you haven't already, join a credit union. For now, join a local one. In time you can expand and pick up a couple more but one will suffice just fine right now. They can be a huge ally in finances throughout your life.

 

I joined a local, small CU when my mother took me to open an account in ninth grade. Now, at 46, I'm still an active member of the same CU, and it's been an invaluable part of my life. Mortgage, multiple car and personal loans, credit cards, checking, savings, CDs, they've supplied them all. CUs are much more likely to stick with you in downturns than the larger banks - it's a matter of responsibility to their members vs to shareholders.


Stick around here and read everything you can. There is an unbelievable collective knowledge here built upon the experiences of many members, and learning the components of FICO scoring, the ins and outs of personal and business credit, information on mortgages and car loans, will all help you as you go forward and your financial world expands. Welcome to the forums, and by all means ask questions and join in the discussions. It can only help Smiley Happy 



Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | PenFed PCR | Navy Platinum | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)





TCL $112,400 | Agg. Util under 10%
Message 22 of 28
Harvey26
Established Contributor

Re: Just Turned 18 - Setting up my future

@HornedFrog2025  I would look into AMEX they usaully like thin files. Im sure being an AU on 15+ year old accounts with them might even help you out.  You probably would have a good shot at the Apple Card when the AU accounts report on TU. FWCCU has a student card but looks like the credit limit $250 so it might be a lil hard to use it on a consistent basis. 

Message 23 of 28
aptiger
Valued Contributor

Re: Just Turned 18 - Setting up my future

Did you get any credit card?

Message 24 of 28
Comand
Valued Member

Re: Just Turned 18 - Setting up my future

Congrats! I got my first CC through my bank (USAA) when I was 18. I started with a $500 limit. Now I'm 21 and with plenty of more cards with a health CS. I would say start through a CU first, and then after 1 year go with Disc/Amex/Apple. Best of luck.

Message 25 of 28
bumble63
Established Member

Re: Just Turned 18 - Setting up my future

One thing: Getting an Apple card has zero to do with any "relationship" with Apple. Apple doesn't issue the card, Goldman Sachs does. And Goldman Sachs doesn't know or care about your purchase history with Apple.

Message 26 of 28
HornedFrog2025
New Member

Re: Just Turned 18 - Setting up my future


@aptiger wrote:

Did you get any credit card?


No, I didn't. I am going to wait 2 more months. I was finally given my Equifax score which was 713. Transunion has not given me a score, I think because I failed their verification questions and they locked my account for 30 days. When I do get a credit card, I'll first check for an Amex then the Apple Card if no amex and then the FWCCU cards. 

Message 27 of 28
K-in-Boston
Moderator

Re: Just Turned 18 - Setting up my future


@Harvey26 wrote:

@HornedFrog2025  I would look into AMEX they usaully like thin files. Im sure being an AU on 15+ year old accounts with them might even help you out.  You probably would have a good shot at the Apple Card when the AU accounts report on TU. FWCCU has a student card but looks like the credit limit $250 so it might be a lil hard to use it on a consistent basis. 


As a point of clarification, authorized user status makes zero difference in Amex's lending decisions for a primary cardholder, other than any benefit it may have on one's Experian FICO 8 score - which is only one of the factors that they take into consideration.

Message 28 of 28
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