NOT having established credit is also for suckers, so if you think you 1 up on the game because you don’t have a credit card, you are wrong. You are way behind.
Sure you may be able to buy some POS car for 10k cash, but I doubt you’ll be able to buy a house with cash, and when you go to get a mortgage you will undoubtedly be f’d.
If your friend doesn’t have a checking account, have him do the following.
Go to bank of america or a credit union, deposit $1000 into a CD. Then ask to use the $1000 CD as collateral against opening a secured credit card.
Dan you remember the credit fiasco i went through getting a card, what a joke that was. I have been with BOA for 5 years and just picked up their premium platinum plus 0% 12 months 12k limit. I am pleased.
How in the does someone reach 22 years old without a credit card or a checking account? I had a mortgage when I was 23. Have they never worked? Never had a bill to pay? I really can’t fathom how someone could do that.
Bobbyg, that’s really good that you’re keeping yourself out of debt. A lot of people on here should follow your lead. If I were in your shoes though, I’d start thinking about building credit if you have any intentions of buying a house in the next 5-10 years. Just sayin.
Fry i can understand not having a credit card but i am lost as to how the person dosen’t have a checking account. As log as they had checking they could have a debit card carrying a logo and would make sense.
I’m 20. I’ve had two chase credit cards when I turned 18…and both of their credit limits have trippled.
I also have a GM card which I used to buy my TV,ps3 and other entertainment shit. It’s got a $7,500 limit and 0% for 12 months. I pay $50 a month until next year, when I’ll pay it off to avoid the interest rates
I’m not trying to be a dick, but who cares? Plenty of people here have the same accomplishments if you will. The thread isn’t about you, isn’t about your dick size / credit limit, it’s about helping someone.
Anyways, with that out of the way, I strongly suggest following the method I previously laid out. Well, if he has bad credit that is. If you work with him and get his credit score, and it’s decent ( above 650 ) come back here and I will recommend some credit cards. If he can, he really should avoid sub-prime lenders.
