Originally Posted by
ashleysb
but the problem is I have NO credit. I have been approved for loans, but the instrest rate is rediculous!
When one has no credit, the interest rates tend to be sky high.
Originally Posted by
ashleysb
I don't want to get a credit card because everyone older and wiser than me says it I'm just better off not dealing with them.
The people that are telling you this might be older than you, but are certainly not wiser than you on this issue.
A credit card is NOT evil. It helps build your credit.
If you pay your credit card bill at the end of each month, then there is NO problem.
Just get a credit card with a $500 limit. And NEVER miss a payment. Every time you charge something, make sure you have the money set a side for when the bill comes at the end of the month.
Originally Posted by
ashleysb
I have also seen my parents try to pay off credit cards from years ago and its not something I want to be doing.
I agree, and that is good you don't want to do that. So, NEVER use a credit card unless you have the cash in the bank to pay for it right then and there.
Originally Posted by
ashleysb
My first car is in my mom's name and all my other bills only report bad credit. I'm stuck. Do I have to pay these crazy intrest rates just to build my credit?
What you can do is go take out a credit card, and build up your credit.
In the mean time, save up your money so you can afford to make a bigger down payment and once you have established credit in your name, the interest rates being offered to you should come down.