If you can't get a card on your own yet, you can still start
building your credit history by having your parents add you to their account as an authorized user.
It is important to make sure the issuer does report payments to the credit reporting agencies so you can
build you credit history as you use the card.
Your credit performance will be reported to the consumer reporting agencies, so you could
build your credit history if you practice responsible credit behavior.
The key benefits with credit cards have been listed above and this line
about building a credit history is a secondary consideration and more of a side - benefit if anything.
This unique home loan is an ideal solution for people who have not
yet built a credit history, or who have less than ideal credit.
People
build credit history through credit cards, mortgages, car loans, etc., and many students have not encountered these yet at this stage in their life.
On the other side, people argue that credit cards help in
building the credit history which is instrumental for future financing opportunities like getting a home or new car.
Some issuers gear secured cards solely toward those looking to
build a credit history rather than applicants who have poor credit and are looking to rebuild it.
In addition to opening a savings account, you can also improve your credit score by paying your bills on time and
building a credit history filled with positive information.