I am 20-years-old. My family and I are (legal) immigrants. I am about to start work within the next two weeks. I want to move out and work, live and pay for my college, on my own. (I just withdrew from a Tier 1 university where I was a physics major; I have goals in life; I am not one of those bad immigrants)
Here’s the problem:
I don’t have a credit card/credit history. And the apartment office told me something about requiring the credit application. How can I do this?
1) How fast can I get a credit card after I get work?
The rent is only $389, which I can manage.
2) But how do I get the credit history?
Please assume I can get little help from my parents. I am on my own. Please help me out. I am not completely familiar with the housing business.
Thank you both for your answers and support.
#1 by Ranger4402 on July 28, 2009 - 3:05 am
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A lack of a credit history is often not a big hurdle especially if you are in college. I got a college apartment with no credit history. The landlord can compensate for your lack of credit by increasing the amount of your security deposit.
I would focus on living in neighborhoods that are near the college you are enrolled in. Landlords that rent to college students play the game in a way that caters to the needs of college students.
#2 by CAtransplant on July 28, 2009 - 10:51 pm
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If you have a job and a bank account you could get a secured card which is tied to your account. Ask at your bank.
That would help you establish a credit history.
When you fill out the credit application at the complex just let them know the situation. Surely you will be able to find a reasonable property manager who will understand your situation and be willing to work with you.