How To Build Credit 101
Sunday, November 18th, 2007You’re 18 years old and you’re ready to play the lucrative miles game!
Only problem, you’ve applied for some great-sounding credit cards and have been rejected.
Don’t worry, those rejections won’t hurt you in the future.
It’s easy to build up your credit history to get any card you desire.
Method 1:
This way is really easy. Unfortunately it will stop working sometime soon, so get a move on if you want to do it!
All you need to do is ask one of your parents to add you to their oldest credit card with a high credit line that is clear of any delinquent payments. On most cards is shouldn’t cost a penny to add someone as a secondary user.
The key is for your parents to make sure to add you as an authorized user and to supply the credit card issuer with your social security number.
You never even need to use your new card, just wait 60-90 days and then apply for an easy to get credit card, like the Starwood AMEX, and you should be approved without any problems.
Method 2:
This takes a little more work, but it’s fairly simple as well.
Open up a store-issued credit card. Good ones that are available nationwide are ones from GAP or Macy’s. They are very easy to get approved, and they are fee-free.
Store cards are generally only valid at the chain that you apply for. (Although the GAP card will also work at Banana Republic and Old Navy)
Just make a few small purchases on it for 3 months and then apply for a real credit card. You shouldn’t have any trouble getting approved.
Of course don’t forget to pay your bill on time, or else it will be a long time until you get approved for a real credit card!
Good luck, and enjoy the credit card mileage game while it lasts!
