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Old 06-13-2010, 05:48 PM
TLM4590 TLM4590 is offline
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Join Date: Jun 2010
Location: GA
Posts: 1
Default Need General Advice Please

Hi, Im 20 years old and have never established credit BUT, out of my own stupidity let someone put a cable bill in my name (I know Im dumb) when I was 17. The account was closed and the equipment was never returned. I also have a couple of medical bills that I will soon begin paying on. To my question, how can I establish credit with that cable bill ($1690) on my report or will I need to take care of that before even trying. My intentions are to finance a motorcycle with low(er) monthly payments and hopefully have that on my record to show that I DO pay my bills on time. Any advice at all would be appreciated, Im 20 and kinda on my own with this.
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Old 06-13-2010, 06:42 PM
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sapphirecapital sapphirecapital is offline
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Join Date: Sep 2007
Location: Montecito, CA, USA
Posts: 364
Default Re: Need General Advice Please

not sure I should help you find money or credit for a motorcycle......anyway not sure your obligation on the cable bill is legal because you were a minor, depends a bit on the state, my first step would be to get a free copy of the existing credit report, if you really need to buy anything on a loan basis use a non-interest environment, with a motorcycle you will always be upside down but nevertheless you can make it to the end; start banking at a small community bank/credit union, keep a small savings account for 5 to 10$ a month you do not touch, get whatever free credit card you can get and use it only for minor things and always repay when the invoice comes in.
Answers are for general information only and should not be construed or relied upon as legal or financial advice.

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Old 08-24-2010, 11:07 AM
goodyphilips goodyphilips is offline
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Join Date: Aug 2010
Location: New York
Posts: 156
Default Re: Need General Advice Please

Yes exactly you should not assume things and rather contact your credit bureau and get your credit report. to build a strong credit score the best way is to subscribe a credit card with lower limits, do some small purchases and pay for them promptly. after few months you will end up building a strong credit score.

With the new credit card reforms in force, you will not be charged any fee even if you do not make sufficient purchases.
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