I turn 18 in January and I was wondering if I should get a credit card so I can start building my credit. I know the dangers of credit cards and would only use it for relatively small purchases and I would pay off my balance every month.
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If you can sure.
New Federal laws state you must be 21-years old or have either proof of income or a parent co-sign to get a credit card at 18.
Source(s): Finance Manager for over 11-years.
Yes, you have the right idea. Small purchases, then pay it off ENTIRELY by the due date. That is how you build your credit. Just don’t get into the trap of purchasing things on the card and deferring payment. That is how people get into big financial trouble.
it may take 2 years to construct up credit. Use that mastercard wisely. fee in basic terms small issues like nutrition or gasoline and pay in finished each month. any incorrect way can genuinely reason injury on your credit status. without a co-signer you will could returned, purchase a low fee motor vehicle for funds. in simple terms be certain it is stable this time. Get a small honda, toyota, or nissan
yes, of course