How to build Credit?

Hi,

I recently got denied on my credit card application due to insufficient credit and I was wondering what are some ways I can build credit? I am a freshman in college, under 20 years old and never had a credit card. I heard there are some companies out there that offer credit cards for students with no credit. I will be paying the bill by full anyways so the high percentage might not matter. Thanks.

 

Do you have a bank account? I had a bank account with Bank of America and when I turned 18, I got a credit card through them with a $500.00 limit, no previous credit, just with a $100 "security" deposit.

 

Yep. Start out at a bank. Either BoA or Wells Fargo. I started out with a Wells Fargo college checking account. I got a credit card attached to it with a $1000 limit at first. I maxed it the first day it was activated on the purchase of a guitar (don't worry I had the cash and paid it off immediately).

In fact, I still have the Wells Fargo credit card. I'm not sure what my limit is now, but I've never reached it. I'm not sure what BoA's credit card policy is like. I have a platinum account there for my checking and savings. I left WF because they weren't renigged on my free college checking.

 

I just took a "Know your credit" class at work. I've had a credit card since I was 15. My parents taught me to pay it off every month, i.e. not spend more than I can afford. But technically you build better credit by paying payments. I still haven't.

 

Their cards usually have better rates.

 

Yes I do, with Bank of America. Savings and Checking and been with them for almost 4 years. I have a debit card, but not a credit card. I will see if I can get a student credit card through them.