Apply for Credit Card – 17 Years Old?
Hello,
I am am 17, and I would like to get a few credit cards. Not to buy things, but to grow my business.
I do Search Engine Marketing, and I need all the money I can get to get my business going. I can just pay for all expenses from my personal funds, they don’t need to know I am using it for a company.
I would like to get my credit going, but I would not know how to to do this. My mother has 2 credit cards, and her credit score is 800, perfect.
Would it be a good idea to add me to her credit cards, and bank account so I can get her perfect credit? From there, I would apply for a credit card myself?
Now.. I would like a credit card that I would be 100% liable for under all circumstances!
Now, I would need a credit card with a limit of like 2K+.
However, I don’t have a ‘real’ part or full time job, so I don’t know how I would prove that I make money to pay back my bills.
I also don’t care about interest rate! Since I have a 5% ROI.
Thank you for any information you may have
EDIT: 15% ROI!
– Just for now, in this industry, you need to collect data, and see what works and what doesn’t. I do Search Engine Marketing, so a lot of people don’t know what this is, and think that my ROI is low, etc.
There is no legal trouble I can get into, so I don’t care I am not incorporated.
I do Search Engine Marketing with Azoogle. I am fine, no one is going to sue me.
2 Responses
bdancer222
14 May 2010
Rick B
14 May 2010
That is a horrible idea. You are getting a personal credit card to pay business expenses? You should never do that. Your business should be a separate legal intity.
Also, you say you don’t care about interest since you get a 5% return on investment?!?!?! If you are paying 18% interest on that credit card and only making 5%, that does not sound like a great deal.
You have to be at least 18 years old to legally sign contracts. At 17, you won’t be able to get credit cards in your name. The best you can do is to be added as an authorized user to your mother’s accounts. She would still be legally liable for payment. and it will do nothing to add to your credit.
By the way, FICO scores go to 850.