How to Start Building Your Credit Now
Lots of students see the benefits of building credit, but many feel that they aren’t eligible for one reason or another. “I don’t have an income right now, so I can’t qualify,” or, “My parent’s won’t cosign for a card.”
First: Your parents won’t need to cosign for your card. Second: Don’t think you’ll qualify? Just try. Most online credit card applications tell you if you pre-qualify for a card, and if you don’t pre-qualify there is no record of it in your credit history.
If you find out that can’t qualify for a normal credit card, you can start small with a “secured” card. They’re designed for people with no credit or bad credit and they work like this: You deposit around $300 – $500 as collateral and receive a credit card with a limit that matches the collateral. Your credit builds as you pay your monthly bill.
Here’s a good place to get started. You can see which credit cards available right now are best for you.