Need help getting my credit started?

I am trying to get my credit started in order to buy/finance an automobile I am a 19yr old college student with a full time job and really have not had a chance to begin my credit because I have depended on my parents most of my life. How Can I get some credit without getting myself into major debt and quick enough to to finance a car asap??

I can tell you how you can build up credit, but I'd also wouldn't finanace a car right now. Being that you're 19, you would have to carry full coverge insurance, which would be sky high because you're:

A. Under 25

and

B You're a male driver


What I would suggest would be to find a cash car in the meanwhile, and do these steps:

1. Open a checking account- While opening the account doesn't directly build your credit, it does create a relationship between you and the bank by being an accountholder. Banks love to cater to their preferred customers that have accounts in great standing by offering loans and credit cards. Also, having a checking account not only helps manage your money, but it gives you the most powerful tool in building credit, a checking account to help pay your bills on time. Most banks and credit unions offer online banking with billpay that can make it easy for you to pay your bills on time, which is important in building credit.

2. Open a secured credit card- Secured credit cards are the easiest credit cards to get, mainly becuase a security deposit is placed upfront in order to establish a line of credit in the same amount. For example, if you deposit $250, your credit limit is $250, and so on. The deposit isn't used to pay for any of the purchsases on the card unless, it was charged off and sent to collections, so you would have to repay it just like a regular card either in full or minimum monthly payments. The deposit is sometimes linked to a savings account, so it earns interest while you're building credit, so the deposit isn't sitting there. You can think of this as building credit with a savings account. The more you deposit, the higher your limit, which is good for your score because it creates a cushion between the total debt you owe and the credit you have available. Also, by continuing to add to the deposit, you're also creating an emergency fund at the same time. A good way of using the card is by making small purchases ($20/month max) and paying on time every month while adding to the deposit. Usually after a year or so, the card either converts or upgrades to a regular card, and most importantly, the deposit is given back, which you can place in a savings account as an emergency fund.

3. Enroll with PRBC- PRBC is America's Alternative Credit Bureau, providing a helpful service to the over 50 million people with limited or no credit history. If you pay your monthly bills on time, PRBC can help you build credit to qualify for a mortgage and better interest rates.On-time payments for the following bills are not reported to the traditional credit bureaus:

Rent
Cable
Phone
Daycare
Insurance
Electric
Natural Gas
Cell Phone

The only time your payments for these bills are reported to the other credit bureaus is if they're missing or late.With PRBC, your on-time payments count. You build credit for paying your bills on time, even if you have no credit history. PRBC has teamed up with Fair Issac, the creators of the FICO score to introduce the FICO expansion score which helps people build credit. Here's a link that explains more in detail:

http://www.fairisaac.com/fic/en/product-...


This way, you can build up credit the right way, without going into debt.

best thing to do is get a credit card and be 100% sure you won't spend more than you can pay for the billing statement. I have a discover card and never missed a payment. I get like 0.05% cash back on all my purchases too. I'm not sure what that APR stuff is all about but i've never had to pay anything other than what I purchased with it.

your best bet is to get a small personal loan and pay it off in a few months or you could get a credit card and use it for your regular expenses but make sure you send in a full payment at the end of the month that way you do not pay interest and help your credit check out www.fastcreditcardapprovals.com and go under poor or no credit section it will give you a few choices on credit cards that will give you one, I would use this card for about 6-9 month to build credit then after you have stablish credit apply for a better one with rewards and less fees. good luck