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Anonymous
store credit card?
by Anonymous
July 7, 2013 at 9:06 AM
Somehow, I've managed to still have no credit at 24. I guess it's better to have no credit than bad credit. I want to build it up but don't want to take out a loan from my bank. The idea of a loan makes me all panicky. So what about a store credit card? Like Target? Does anyone have one? What are the interest rates? Is it a horrible idea? I really want to start building my credit.

Replies

  • 3xangel
    by 3xangel
    July 7, 2013 at 9:11 AM
    I would just get a $500 credit card from my bank, buy gas, and pay it off every month
  • Mommie_2_Boys
    July 7, 2013 at 9:13 AM
    I did a $1000 loan from my bank. Paid it monthly for 2 years. I have great credit finally
  • Anonymous 2
    by Anonymous 2
    July 7, 2013 at 9:13 AM
    This. It's what I started doing at 18. My credit score in now over 800.

    Quoting 3xangel:

    I would just get a $500 credit card from my bank, buy gas, and pay it off every month
  • Anonymous 3
    by Anonymous 3
    July 7, 2013 at 9:13 AM

    I don't think you can get a Target card with no credit history.

  • Sondi7
    by Sondi7
    July 7, 2013 at 9:13 AM

    I would do this as well. This is actually howi built my credit when I was 18. I used it for small things and paid it off monthly.

    Quoting 3xangel:

    I would just get a $500 credit card from my bank, buy gas, and pay it off every month


  • 3xangel
    by 3xangel
    July 7, 2013 at 9:14 AM
    Mmm hmm. That's exactly how I built up my credit too.

    Quoting Sondi7:

    I would do this as well. This is actually howi built my credit when I was 18. I used it for small things and paid it off monthly.

    Quoting 3xangel:

    I would just get a $500 credit card from my bank, buy gas, and pay it off every month


  • Foolynroo2
    July 7, 2013 at 9:16 AM

    whatever credit card you get, pay it off every month and the interest rate is moot.

    I would get a card with no annual fee though, so it literally will not cost you a dime to  have a credit card.

    With no credit you aren't getting a loan or CC with a low interest rate, so just bite the bullet, but pay it of each and every month.

    If you are not in the position to do that, then don't get a card.


  • Anonymous 1
    by Anonymous 1 - Original Poster
    July 7, 2013 at 9:16 AM
    I asked my bank about that and they said they don't do that and they never heard of it. :S They do line of credit on your checking but you have to have a certain credit score.

    Quoting 3xangel:

    I would just get a $500 credit card from my bank, buy gas, and pay it off every month
  • Anonymous 1
    by Anonymous 1 - Original Poster
    July 7, 2013 at 9:17 AM
    I don't want to be paying something off for a year or more. It makes me feel uncomfortable. Idk how to explain it.

    Quoting Mommie_2_Boys:

    I did a $1000 loan from my bank. Paid it monthly for 2 years. I have great credit finally
  • Anonymous 4
    by Anonymous 4
    July 7, 2013 at 9:19 AM
    Whatever you do do NOT pay it off monthly. Leave a balance, a small one is fine, but you build credit by showing that you can responsibly carry debt. Even if it is $10, carry a balance.

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