Jesse: How do I (a college student) establish credit?
I’ve tried to get small loans from Wachovia (just to get the ball rolling). I’ve tried to get a credit card at Wal*Mart. I’ve asked for secured credit cards. I tried to get a credit card at Best Buy. I considered the “MyStudent Access” card (and other bank-alternative methods that involve prepaid cards), until I read in the fine print ::does not report to credit bureaus::. I’m getting severely frustrated because I desperately want a new laptop for college, and HP will not even finance me through their online eLender.
I’ve heard all the suggestions everyone has offered; furthermore, I’ve exhausted those resources and everything seems to turn me down due to the mutual reason of “INSUFFICIENT CREDIT HISTORY”.
Here’s to hoping someone can suggest something new/ different/ perhaps even unconventional that may be conclusively constructive in the direction of FINALLY establishing my credit. I feel as though the only remnant I have left to call upon is a typical Buy-Here-P-H car lot and getting a cheaply-priced but high APR agreement. –Which isn’t anything I’m interested in because 1) my budget is extremely limited [i.e. COLLEGE]; 2) my roadbike is more than sufficient.
Hopefully you see how cyclically unnerving this is for me..
Thx in advance for all input.:)
I pay all my bills on time (rent, cell phone, utility)–those do not report to credit bureaus.
Answers and Views:
Answer by Sputnik9
You go spend a lot of money you don’t have
Get a credit card and pay the entire bill each month. Get a cell phone and pay the bill each month. Just pay all your bills and you will have a decent credit score.Answer by svn8ths
Credit Cards are the fastest and easiest ways to establish credit. You should be aware of what your debt to income ratio is like, and possibly look at a credit union. A credit union does have more lenient lending limits than credit cards, because credit unions do try to work for their members. Shop around and ask questions. Remember, the more you inquire (pull your credit report) the more it hurts your score.Answer by Ophelia
I surely understand you. These situations drive you nuts. I had several loan applications denied for the sam ereason and it got on my nerves. I went for online loans, payday loans to be more exact and it got me the things I wanted. was my way and honestly it was nothing I expected. they were perfectly quick, amiable and helped through my dark days.