I am 20 and I have no credit, how can I start building up credit?

don't use credit cards, pay cash credit cards will get u in trouble

Begin by opening a bank account.

You can start by applying for a simple store card, just becareful the interest rate are astronomical...upwards of 30%. Other thing you can do is apply for a regular student card at your local bank, they'll start you out with a small limit like $300 but with good use over time, they'll increase it You can deposit $100 into a chequing account and then apply for a $100 loan at your bank and there you go you have a new line of credit. Just be sure to repay it.

If applying directly for a card doesn't work.... get a small loan from a bank and get yourself something cool....and pay it off in a few months. Presto. You will be swamped with credit card offers.

A lot of these people have it right. Start with a bank account and then get a credit card. The store cards will approve almost anyone and like someone else said the interest rate is off the charts. With you having no credit history it is likely that ANY type of credit you get will have a very, very high rate. The only way to build credit is to use credit so that means that, yes, you have to use it to get higher limits and better rates. Again, as someone else said, you will start small with a $300 or so limit but it is important that you not use all of it during one billing cycle (usually follows the days of the month). 30% is considered the threshold so on a $300 limit $100 should be the max you use. Repayment of the loan (credit cards are considered revolving credit and they are loans) early and in full every month is of utmost importance. Do not wait until 2 days before your bill is due to pay it, have the payment sent the day the bill comes (or do like I do and pay it over the internet using a bank account). As I said earlier, once you have established your credit worthiness to your creditors they will offer better rates and higher limits. Once your revolving credit (credit cards) has been established an installment loan is the way to go. That would be a personal loan or an auto loan, that type of loan. There is no easy or fast way to build credit from scratch. It is, however, very easy to ruin your had work in a very, very short amount of time. I have worked hard on mine and have built a good history. At last check my FICO score was 780 and I am 25 years old. So it is possible to have a good score at a young age. Work hard, spend responsibly, nevery live above your means. Credit, any type of credit, can trap you so use it responsibly and you will be just fine. Good luck!

Don't get a credit card. That's why america is in so much debt!!!!! Get a checking account and keep a positive balance, pay all of your bills on time, these are things that will start you out on the right track.

It is highly unlikely that any bank will give you unsecured credit card if it is your first credit card. You can try, but most likely banks will not even bother with reply letters, explaining why you’ve been denied. A secured (prepaid) credit card looks like realistic option for you. And after some months of careful and prudent usage of this card you (theoretically) suppose to start getting offers from banks for regular credit cards.

Ok... I'm 21, with credit 687 ( just down from 725, ****!!!)... Dude, don't apply too many cards!! Go to the Macy's, apply the card and buy lil gifts for friends, they will give u 100 credit limit...

buy small stuff on a credit card and make sure you pay it back. your credit will increase.