There are several things you can do to establish credit.
Talk to your bank or credit union about getting a secured account. A secured account is tied to savings account with the lender. Your credit limit will be a percentage of the amount in savings. If you are unable to repay your charges, the bank can take money out of the savings account to cover the balance. That's why it is called a secured account. The money in savings is security for any charges you make.
Make small charges from time to time and then pay the balance on the account in full to build a positive credit history. Failing to make the payments and causing the lender to use the savings as security would be very negative for your credit history.
Your credit union or bank might be able to give you a small installment loan to help you make a low-cost purchase. Even a small loan with on-time payments will help build a good credit history.
If you're going to college and have student loans, you will have a credit history. It's important to pay those student loans on time consistently.
Ask your landlord or apartment manager to report your positive rent payments. Your good rent payment history can be a great first step in establishing a strong credit history.
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Scoped on: 03/15/2016
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