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Djayydropdead

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How can I build credit quickly when you have none at all?
I've just turned 18, my parents kicked me out of home, and I need to find an apartment as soon as possible. In order to do that though, I need a credit score of atleast 620. How can I get my score up there quickly, and what's a good first credit card for me?

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You may have to get a secured card, which means your credit line will be determined by the amount you pay to get the card. Try not to put in a bunch of credit card applications as this will cause hard inquiries on your account. Go to Capital One's site and see if they recommend a card for you by using the pre-approval link. Don't do the full application unless it says youre pre-qualified. You don't mention your income but it can help in the case of getting a store card, but again if you apply and get a hard inquiry it will lower your score. Always pay your card in full each month, DO NOT just pay the minimums. Never put more on the card than you can pay for with cash on hand, keep your utilization below 20% (lower if possible) and your score will rise. It's not going to rise immediately as you likely have a thin file. You may have to find a roomate or something but in time your score will go up if you use a card responsibly.

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Sorry to hear about the problem with your parents. Based on the title, I was going to suggest that the QUICKEST way to build your credit score, especially as an 18 year old, would be to have your parents help. If they added you as an authorized user to some of their accounts (even if they didn't give you access to them) then every time they make their payments on time, it boosts your score as well, since those accounts would show up under your report.

This is what I did for my wife. Once we got engaged, I started adding her as an authorized user for my all my credit cards. She had a low 600 score since she had some financial problems in the past (before she met me), but my score was in the high 700s, maybe even 800s. Immediately we noticed that my cards were showing up on her FICO reports and the fact that they all had high credit limits boosted her utilization score, as did the on-time payments. At the time, her "on time payments" was at like 84% or something, but just by being on my cards we've gotten that up to over 90% pretty quick.

Now she's in the 720-740 range and is able to apply for her own credit cards with decent limits, etc.

So this probably won't help you, because if your parents are kicking you out, they probably won't trust you to add you as an authorized user to their own accounts... but maybe it could help someone else who finds this post. This is also what I plan to do for my kids when they are old enough - I'm going to add them as authorized users to my cards and even though I probably will not let them actually use the cards, it will start building their credit scores before they even know what a credit score is. 

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someone else mentionted it, in order to do it FAST, get added as an authorized user to an account that has a long history, low balance, and on time payments. then sit back and watch your credit scores soar. getting and building credit doesn't happen over night, you'll need time to build credit scores. 

keep in mind some smaller apt companies don't care much about your credit, more about your job and stable income. not having established credit isnt the end all be all for getting an apartment. look for apartments for rent from private people etc, they more likely don't even pull your credit (that costs them money). 

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