Sign up for a Student Discover card.

Like Squid said, you have to use it. Make sure you use it ever month and never ever go above 1/3 rd of your credit limit.
Again Squidy gave you some good advice and maybe just limiting your spending on it to 100 bucks a month might be a good idea.

Just make sure to pay it off IN FULL every month. You won't get any Fees and will be well on your way to building credit.

Regardless of what you decide to do about a motorcycle / bank loan you should do this now. Down the road it will help immensely.

 

seahawks win!

 

I cant get a student card because I'm stillin high school. But Bank of america has a $300 secured (pre paid) credit card. How does this work? Do I have to keep $300 in it at all times?

 

How Is a Secured Credit Card Different from a Prepaid Card?


By Eva Norlyk Smith, Ph.D.
May 22, 2009
Although prepaid cards look like and are used just like credit cards, they really are more like debit cards. Your credit line depends on how much money you transfer to the card, and it decreases each time you make a purchase. In other words, with a prepaid card, you don’t really have a line of credit, you can only spend the money you have in your account.

In contrast, with a secured card, you make a one-time security deposit in a bank account, and then make monthly payment on your card as you would on a regular credit card. The deposit is only drawn down if you default on your payments. In addition, if you maintain a regular payment history, the card issuer will often reward you by increasing your credit line without requiring you to add to your security deposit.

 

so after im ready for a nonsecured card I get the deposit back?

 

dont forget that when you have a loan/lean on a vehicle including bikes you have to carry full collision/comprehensive insurance on it and even tho its and older model its still considered a sport bike and your 18 and tho's 2 things dont go well together for insurance companies $$$$.

 

so curious as well, with these credit cards, they require you to spend money each month and to how much do u have to spend so u dont get penalty, and what if you want to cancel that credit card? is there like a contract on that too?

 

huh? what credit card are you looking at nutty?? and ryan.

go with a student credit card if anything...

the one i have is a student capitol one, you dont HAVE to use it every month, theres no penalties, or monthly or yearly payments... also I get 2 or 6% cash back when I do use it on gas only though...

and yea when you pay, pay IN FULL every month, your credit limit goes up quickly

if you want to cancel it, you just cancel it no problem..

just look into it man dont jump on one right away do research on them and you'll find one that works.

 

yeah im talking about a student card, but yeah ima do my homework, cause i needed build my credit as well

 

dont you have to be in college to get a student credit card? I'm still a senior in high school