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What is the best way for a young adult to build up a good credit rating?
My son is 27 and has never had a credit card. He has school loans that he is paying off, has never had problems with overdue rent, electric bills, etc.... He would like to start building up a credit base but is unsure how to best go about it?
Any good suggestions?
Thank you.
4 Answers
- 1 decade agoFavorite Answer
apply and get a credit card or department store card. Pay the bill every month on time, preferable the whole balance every month.
To keep him out of trouble, tell him to never charge anything you do not have cash to pay for.
- 1 decade ago
Well, he should apply for a credit card first to build up credit.
Then, he can buy a car or some electronic like HDTV, Dell computer, refrigerator, etc. and pay them with installment method. This is a good way to build up your credit, just make sure to pay it on time.
- 1 decade ago
NEVER APPLY FOR A DEPARTMENT SCORE CARD WITH LITTLE OR NO CREDIT..
read this here. http://blog.brooklynposh.com/search.aspx?q=credit%...
- 5 years ago
Apply for a credit card, and/ or amobile phone contact, this is how I built mine up
