Going to start building up my credit rating

[136913691369]

I am a 21 year old junior in college who doesn't really have many bills so never saw the need for a credit card. I have had 1 credit card in the past, but due to the ease of my debit card I rarely used it.

Now im ready to stop using my debit card and I wanna find a credit card that wont cost me a penny to use (are there even any cards out there like this?) so I can build up my credit rating.

What card should I get? I plan on always paying my bills on time and I am very good with budgets/money.

[sprmario]

in hindsight what i'd do is get one card at a large major banking institution like BofA, Wachovia, Wells Fargo, etc. that you plan to keep forever. Then get a 2nd that has the best deal you can find right now in terms of no fee, etc. Be willing to drop that one if terms change.

[skierdude1000]

I would keep using my debit card if you could especially since you say it's convenient for you. What I'd do is open a couple credit credits and use them to purchase small items each month (like $10-20 a month) and pay them off each time on time. This will build up a credit history for you and you can still use a debit card if it's convenient.

[AncientPC]

I found this thread very helpful:
http://www.fatwallet.com/forums/mess...hreadid=564358

Just make sure to pay off your monthly balances in full.

[dc_publius]

You mention that you already have a credit card. That means you have a credit rating already.

As first step, have you checked your current credit rating? That is first step.

[AncientPC]

Free annual credit report:
http://www.ftc.gov/bcp/conline/edcam...ee_reports.htm

[Sifmole]

[ QUOTE ]
I found this thread very helpful:
http://www.fatwallet.com/forums/mess...hreadid=564358

Just make sure to pay off your monthly balances in full.

[/ QUOTE ]

Just a small note regarding this:

I have been told very recently ( just closed 3 mortgages on rental properties ) that my credit score is like 20 points under the max ( 700 of 720? ). And the reason my score is not the max is because I have never allowed a revolving account to carry a balance month to month; meaning my credit score would actually be better if I had at some point allowed a revolving credit account to carry a balance from month to month for a few months -- such as paying the minimum and not paying in full.

[AncientPC]

Max credit is 850, US average is roughly 675.

[Sifmole]

[ QUOTE ]
Max credit is 850, US average is roughly 675.

[/ QUOTE ]

Oh well, as I tried to indicate I was unsure of what the actual numbers were. My score would then have been like 830.