Credit scores take time. To increase your credit score you must display certain spending habits. Since you're just 21 and you're starting out and. show more Credit scores take time. To increase your credit score you must display certain spending habits.
Since you're just 21 and you're starting out and you don't have credit basically.
You can start out with a secure credit card, no one gets dissapproved for that. Orchard bank, part of HSBC, provides secure credit cards with a min. deposit of $250.00. It will take 6 months. You'll have a credit line of let's say $1000.00.
Only use 20%- $200 (NEVER MORE) of your credit card within the 6 months.
You get a statement, you pay it off, you should be good and you will be building your credit score.
Do not apply for credit cards all at one time, because it seems suspicious to the federal
bureau and you can screw up your credit score before you even start building it up.
I'd never recommend a credit card really, unless you're really good with personal finance and understand what is asked of you to be on the safe side. I'd say work your butt off for the next 5 or 6 years and buy the house in cash.
If you're not OK with putting in a deposit of 250 with orchard you can always apply for the Citibank MTVU card, sponsored by MTV, for university students.
They love students in debt, so they are always welcoming students with no credit score, but that's where i built my score up.
They might initially offer you a credit line of $800.00, don't get too excited, just remember.
Credit Cards will be paid back, it is not your money. You're just borrowing. So think of it that way.