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When I was 16, my mom make me take out (and cosigned for) a $500 loan at our credit union, specifically to ensure I had a credit history. IIRC, I never spent it
by eric_the_read 11y ago
When I was 16, my mom make me take out (and cosigned for) a $500 loan at our credit union, specifically to ensure I had a credit history. IIRC, I never spent it on anything; I just used it to pay off the loan, and counted the interest as a cost of acquiring credit. At the time it seemed inane, but it makes a lot more sense now.
Do you have a relative or friend who would cosign for a relatively small loan for the same purpose?