24 Year Old No Credit

[SouthJamaica]

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@KurtCobain23 wrote:

Hi, I am a 24 Year old that still lives at home with No Credit whatsoever. My Dad has offered to add me this November as an authorized user on His Capitol One card that he has had since 2004. His Capital one card has $9,500 limit with a $1,300 balance.  What should my next step be? I have $1200 saved in the bank to use for credit building. Do I still have to go the Secured credit card route? or do u think that being an AU on my Fathers Capital One history could get me approved for a Chase card? Should I apply for 2 or 3 secured credit cards at the same time?  Should I get an online Credit building Loan, and if so who with?    I guess what I am trying to ask is if you guys where in my position, What exact steps would you take to build your credit up fast but also responsibly?

Any Help would be greatly appriciated!

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My advice would be to join a good credit union and get a secured card. That's enough to get you off to a good start.

[Anonymous]

I started in late twenties living at home no credit applied for Bill Me Later which is now PayPal credit and was denied instantly. Then I applied for and was approved for a Walmart store card, $300 limit LOL that went up to $1,300 after 90 days. And I was on my way. Now my credit across the bureaus is 768. The rejection by Bill Me Later was 2012 it's now 2018. So it takes a long time and honestly I'd rather have a decent income than awesome credit but whatever it's cool. It's not a bad thing, it's just if I went for a car loan they would say what you make?

Just don't take money you can't pay back, don't buy stuff you can't afford, it's pretty simple. Most of the people who get trapped in debt are compulsive types who put themselves there.

I'm surprised no one in this thread has mentioned annualcreditreport.com but it's a great resource once a year to get all 3 bureaus reports. It doesn't give you a score but you can see if you have any medical collections or anyting negative holding you back. I had one for a bill that wasn't mine that lasted 2 years, until Robert E G on this board help me out. Best of luck to you.

I still have to buy a new car one day before I die, sign for it and drive it off the lot let it depreciate. I'm 33 and it hasn't happened yet doesn't look like it'll appear in the near future.