Im 21 years old and have no credit at all. I will be going to medical school and upon completetion I hope to start my own practice. I will need to borrow money for this endeavor for sure. My question is with good credit I can borrow more than bad credit, right? So how do i get good credit? Its hard to get my own credit card, but if I become a co-holder on one of my parents card does that build my credit? I dont mean just an authorized user. Someone told me to leave a minimal balance on my credit card each month, like $10 and keep paying it. This way it shwos that Im capable of owing money and paying it. Will this work? Im not in any hurry I have 4 years to do this, but as of right now I have no credit at all. What can I do to build good credit so I will be able to get loans to start my own practice?
Thanks to all who respond!
Pay your own bills. Open a cell account, as a co-holder you do build credit. Have a joint account with someone who already has good credit. That’s what I did.