Building Credit

[J-Lo]

Help!!! How do u do it? I have chitloads of money, but can't get a mortgage, creditcard, or even rent an apartment. Any tips?

Example. I tried to buy a "trailer poo-hole" house in boo-foo (Dekalb, Il) as an investment property (it was a SMALL house, but it was commercially zoned in an area which is expected to have a boom). I was going to put down 20k for a 70k house, and they wouldn't give me a 50k loan. Problem-- i have ZERO, meaning no numbers show up, credit, and i have no way to PROVE my income. This will be the first year i file a tax return (as a hobby, not pro). I just turned 22, and i do the unmentionable act<font color="white"> Poker </font> to make my money... suggestions? ideas? questions?

[siccjay]

Co-Signer.

[Xelent]

Go to a bank and get a credit card and purchase something every month and pay it off on time. This will give you a credit history. Over time a big and perfect credit history will make you have good credit.

[chesspain]

[ QUOTE ]
Go to a bank and get a credit card and purchase something every month and pay it off on time. This will give you a credit history. Over time a big and perfect credit history will make you have good credit.

[/ QUOTE ]

If you can't get a standard credit card, try to get a gas card--they are usually very easy to get. Or sign up for a "secured" credit card--which is a low limit credit card for which you deposit with the bank the cash amount of your max credit line--which they hold as collataral.

But really, it shouldn't be that difficult to get a credit card at your age, assuming you don't have bad credit. Indeed, banks blanket college campuses at this time of year with credit card offers, offering to build brand loyality by giving cards to drunken, immature college students. [img]/images/graemlins/smirk.gif[/img]