Although some students leave high school having already dipped their toes into the world of credit cards, perhaps already having an authorized user card on a parent’s account, many more are ready to get their first card as they head off to college or into the workforce.
In addition to determining the availability of loans and interest rates, many businesses use your credit score to decide how responsible they think you are. This can affect your ability to get approved for an apartment or home lease, an auto lease, or even a new job. In effect, this means that you can’t get a credit card on your own unless you are over 21 or have a steady job, even if it’s just part time. This makes a lot of sense, because you shouldn’t be piling up credit card debt if you have no way to pay it back. Unfortunately, it makes it somewhat tougher for high school graduates to build up good credit without assistance.
The great part about being an authorized user on someone’s account is that you don’t have to worry about getting approved on your own. That person has already been approved so all they have to do is provide your information to have you added. With most banks, your authorized user card will be reported to the credit bureaus, so having it and making regular charges and payments will help to improve your credit score.on the account will affect your credit negatively, even as an authorized user.
Many large banks do not offer the option to have a co-signer on a credit card, but if you’re a member of a smaller bank or credit union, this could be a good option.If you don’t have someone willing to co-sign your card application or to give you an authorized user card for their account, a secured credit card makes it possible to start building your credit even with no prior history, as long as you have proof of independent income.
this should be curriculum.
Do not unknowingly pay for another’s drink, get asked for your share in cost like they can make you believe you wouldn’t recall you paid already, worst, make you like the primary account holder for an expensive party stay. Scrupulous.
Emergency really means. Water over designer. Till we get better. Worst diet ever and everyone. On the couch. Y’all musta got them checks Boyyyy I sure didn’t. And I ain’t waiting on the 3rd one if it’s been like 4 months since the 1st. Just an observation.
In the words of the great General Ackbar: 'It's a trap!'