Can I build credit at 17?

[Ruben Marquez]

Hey i’m 17 years young and i’m planning to buy a property soon in the near future(18) and dive into the real estate business, only problem is i need a good credit score but i’m not sure how to build it as i’m not 18 yet. Are their any alternatives?

[Nathan Gesner]

Credit scores are important, but more important is understanding how to manage your finances. I wouldn't recommend opening credit card accounts unless you know you can control your spending, budget, and save.

Most lenders will not loan to someone under 18. However, you may be able to become an authorized user under a parents account or to secure a loan with your parents as co-signers. You don't want to do either of these unless your parents have good/excellent credit and you don't want to do anything that will screw their credit up.

I highly recommend you educate yourself on personal finances. You need a strong foundation before you start building your investment portfolio. IF you aren't responsible with small amounts, you won't be responsible with large amounts.