Comment on The ultimate life hack the government doesn't want you to know

Zink@pawb.social ⁨8⁩ ⁨months⁩ ago

• MadMadBunny@lemmy.ca ⁨8⁩ ⁨months⁩ ago

  That’s the joke

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• STRIKINGdebate2@lemmy.world ⁨8⁩ ⁨months⁩ ago

  What if someone is starting off getting their first credit card as a teen? Wouldn’t the credit score be zero?

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  • bobs_monkey@lemm.ee ⁨8⁩ ⁨months⁩ ago

    Basically, but they call it a thin file (aka no credit history). If you don’t have someone to cosign, they’ll start you off with a secure card, where you pony up a couple hundred bucks and borrow against yourself until you establish good history.

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    • LukeMedia@lemmy.world ⁨8⁩ ⁨months⁩ ago

      Discover Student will typically give you an unsecured line for your first card.

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  • ryathal@sh.itjust.works ⁨8⁩ ⁨months⁩ ago

    There’s a difference between bad credit and no credit. Some places refuse both, but you can find places that will deal with no credit.

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  • JusticeForPorygon@lemmy.sdf.org ⁨8⁩ ⁨months⁩ ago

    No teenager should be given a credit card under any circumstances. That’s a great way to find yourself bankrupt.

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    • Treatyoself@lemmy.world ⁨8⁩ ⁨months⁩ ago

      Not when teens have access to finance 101 classes in high school. It was an elective in my HS and you better believe I took it. I learned how to do my taxes, balance a budget. It was great. I wish this was a hard requirement for all HS students.

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    • dingus@lemmy.world ⁨8⁩ ⁨months⁩ ago

      I got my credit card as a teen and never used it like a dumbass. Teaching people about money goes a long way.

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  • spacecadet@lemm.ee ⁨8⁩ ⁨months⁩ ago

    In my case, it was with the bank I already had a checking account with and the credit limit was like $500. They normally start you off with a super low limit and a high interest rate.

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