My Econ teacher would always say when you turn 18, get a credit card and every time you go to a store, buy a pack of gum with it. It's cheap and easy to pay off. By the time you're 21, your credit score will be crazy high.

I have a few friends that also got credit cards with stores such as Best Buy and Walmart. And they have very high credit scores now.

Miss wrote My Econ teacher would always say when you turn 18, get a credit card and every time you go to a store, buy a pack of gum with it. It's cheap and easy to pay off. By the time you're 21, your credit score will be crazy high.

I have a few friends that also got credit cards with stores such as Best Buy and Walmart. And they have very high credit scores now.

My first credit card was a firestone card with a $800 limit. I bought tires and paid those off that's how I got my 2nd credit card at Wells Fargo.

I established my credit after becoming a college student with Discover as they have a credit card designed specifically for college students. I was an idiot and almost maxed out my card immediately after receiving but was able to pay the balance off. Make low cost purchases and pay them off asap. Keep low balances on any revolving credit accounts (credit cards) and NEVER open a low interest account to pay off other accounts, it will cause your credit to PLUMMET!

FredNJ wrote I just turned 18 & I want to start early so I can build my credit but what are the first steps? I know allot of you guys on here are older & know your stuff so I was just wondering. This Saturday I was going to buy a car but no credit & they said its fine but paying the payment every month would build my credit up too right? Would be very much appreciated if someone could give me the steps on how to build credit.

If you were accepted for car finance, then yes that would also build your credit score. Make sure you're on the election roll also, as if you're not that will affect your score massively. As other people said, best way if you aren't accepted for anything is too get a credit card and pay back the balance every month.

I'm currently 20 but I took out car finance last year which is £182 a month and I had 0 credit history at that time. Now I have a phone bill also.

Getting a starter loan with your local financing like a bank or loan office. They give up to $200 where I live.

if your parents use credit cards and always pay back on time, have a joint account with one of them and get a credit card which the said parent will use and every time they pay the bill on time your credit score will go up since your name is on the account.

if you dont want to do that then if your parents pay your phone bill for you, make it so the money is coming out of your account and have them give you the money for it every month or whenever you pay it

Just so you know getting a phone bill and paying it off on time wont build you credit, they only report it when you're past due. Same thing about having an internet bill, utility bills like gas or electricity. A credit card will do best but do research as there are ALOT of different kinds of credit cards, be smart about your spending. When it comes to getting a car loan always join a credit union as they will always have lower interest rates, and if you pay your car notes on time for about 6 to 12 months, refinance your loan to get an even lower interest rate.

Also one big thing I forgot to mention is you need to keep your score once you get it. A lot of people get a good score and apply for all sorts of other loans and DESTROY their credit. Also it's normal to jump from 1 credit card to the next for better benefits or lower interest rates but the big mistake people make is that they close the other account. It actually hurts your credit to close an account, instead you should just cut up the card and don't renew another one when it expires.

To get your credit up fast, you should have 3-5 credits (say a credit card, auto loan, mortgage, personal loan, home equity loan, student loan, etc.) Having just 1 will help but it still keeps you in the risk category for a while.