Yup, there is always time to save later. This is the one thing we'll ever splurge on. After we buy this, we can save every dime. There will be no temptation to drop all our savings again in the future on some new shiny toy. Nope. Spend now and save later is exactly the mindset that put America in the stable, prosperous, and growing economic conditions it enjoys right now.
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Originally Posted by StoutFiles
You will most likely need to co-sign. Otherwise, it'll probably take at least a year. If not, congrats and good luck.
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I agree with this. I'm young myself -21. I had no credit history until I bought my Cobalt co-signing with my parents. I had one credit card, and I now have another joint card with my wife (so two cards for me total). Two years of steady payments on my co-signed Cobalt loan and paying off my two credit cards every month gives me a credit score in the mid to high 700 range. Credit scores are a measure of how reliable a debtor you are and how far you are from bankruptcy. You can't play the system "speed up the process" just by opening 5 cards as if this were some MMORPG. It is a process. Starting out with a one-time fixed term loan co-signed by responsible parties as well as a small amount of revolving credit (credit cards) managed responsibly will get you on your way to good credit history. If that goes well, you'll have access to more credit, and if you manage that well, the cycle will continue. You can't rush it and you can't cheat it. Follow the basic advice offered by a majority of personal finance professionals (CNN Money is a good starting point), be patient, persevere, and you'll get there in good shape.