A cross-question something like credit? If i hear correctly you do not get credit until your

If i hear correctly you do not get credit until your 18 am i right? also how much credit do you start off next to? is it really bad credit that you have to build up, or is it accurate credit, or perfect credit? please explain in detail!

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you own to build credit

You start past its sell-by date with bad credit, okay actually it is no credit. To begin building it, seeif you can purloin a loan out at your bank or get a SECURED credit card. Make on the dot monthly payments and it will start to raise your credit rating. Stay away from regular credit cards- they are really bad until you are finnacially competent to take on the payments, and even when you do use them, only charge as much as you can discharge back immediately.

I suggest that you dont rush to stores and try to receive thier credit cards because every time they run your credit it brings your score down.

Pay all of your bills prompt. I am assuming that you are going to be leaving home soon. Make sure your electric, cable and phone bill are paid in good time because they report to the credit agencies. Pay your car note on the dot, rent and insurance.

If you keep up with that, you should be fine. Bottom rank would be if you dont have cash to pay cheque for it now, dont buy it. Use layaway or installments.

okay this is what I did. I got a student credit card when I was 17 contained by my mom's name. and when I bought my first car All I have was that one credit card so they said I was a "ghost" or they couldn't really determine what type of credit risk I be because I didn't have any. So if you get any type of credit purely keep that ** good because if you don't afterwards you will regret it in the future. When you start out as you would expect you start out with none, and you dont have " bad" credit you newly dont have any and companies won't know what type of "person" you are when they analyze your report. Hope this helps.

by the law you have to be 18 to apply for any credit. if you don't enjoy any credit yet, your credit is good. your costs history will tell over time what is your credit score. to enjoy excellent credit score you have mix different style of credit like credit cards- they call revolving charges, installment loans approaching car payment and mortgage payments latter. your credit score is base on mixing adjectives type of credit and the way you use your credit and of course your allowance history. try to never be late with your payments more than 30 days- after that your lender will report your slowly payment with credit agency. your credit will be built over time- the longer you enjoy credit , the more trustworthy you going to be to everybody who you want to get credit from.

You have to be 18 to know how to receive your first credit card, because you have to be in a decriminalized age to be in a legal contract.

i received my first credit card through my hill. it is good to open a checking and funds account as soon as you can because most bank will substructure your credit limit on how you use your checking account and debit card.

credit chalk up is developed to rate on how credit companies can trust you. low credit score means you enjoy a bad reputation on borrowing money and higher credit rack up means you are a good loaner and the risks of you not paying your debt is lower.

lenders will offer you lower interest rates when you have a good credit mark so it is good to start early and keep hold of your score in a average even.

FICO score is derived on the ff. criteria:
* 35% punctuality of payment surrounded by the past
* 30% capacity used: the ratio of current revolving debt (credit card balance, etc.) to total available revolving credit (credit limits)
* 15% length of credit history
* 10% types of credit used (installment, revolving, consumer finance)
* 10% recent search for credit and/or amount of credit obtained just this minute

Answer:
I will address respectively question separately.

1) Age

In most states you do have to be 18 beforehand you can open a credit account short a co-signer. In some states you have to be 19. The reasoning being that credit cards are bound by a contract . In the eyes of the canon 18 (or 19) is when the state views you as an adult. Contracts are voidable if you are not at or bygone the age of majority.

2) Amount of Credit

It really depends on your history, score and the banks eagerness to take a default risk on you. The companies who tend to marketplace to younger people (e.g., Capital One) will start a new personality up with around $500. Increases come gradually if you payment the bill and are responsible.

My bank, US Bank started me out at 19 with $1000 and in a minute at 22 I have $12,500 worth of available credit. I paid adjectives my bills on time and never even came close to my stricture.

My brother on the other hand, maxed his $1000 initial limit out, they dropped his confine to $500, charged him a bunch in over limit fees and jacked his interest rate to close to 30%.

My sister ruined her first credit card, it was charged off and in a minute she can't get credit for the life of her.

You are rewarded for honest behavior and punished severely for bad behavior.

3) Score

Your score is comprised of several factors including, debt/available credit ratio, credit history, inquiries (requests for credit), payment history, etc.

So, if you enjoy none of the above, then you technically don't have a credit chalk up yet. However, if you have student loans or other loans you own a score based on that.

u have no credit, so ur trying to build credit! u want to detemine ur montly gross income and calculate about 40% (include rent/mortgage) and that should be the shorten for credit u should have.

for example if ur income is 2000 per month, 40% of that is $800, this is the max for rent and debts on ur credit report that u settle up per month. (credit cards, car, etc)

40% debt-income ratio is a good number and some creditors look at that when u apply for loans.

u dont necessarily hold to be 18 to get credit but that is the minimum age for some creditors. u may own to get a co-signer b/c they cant come after u if u r delinquent (by law)

there r bank that offer programs to help race build credit and maintain good credit! check beside ur bank or credit union to see if they can assistance u with this.

also see if seminars or workshops surrounded by ur area to explain the importance of credit!! well-mannered luck.